Competition in the mortgage market is "essential," Wells Fargo (WFC) tells staff, saying its 33%...

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

Competition in the mortgage market is "essential," Wells Fargo (WFC) tells staff, saying its 33% market share isn't "magic" but the result of doing a better job than competitors. Success is a red flag to the government, and the bank's dominant position is furrowing the brows of various regulators and lawmakers.