Already making a bundle on the refinancing boom, Wells Fargo (WFC) hasn't yet scratched the...

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

Already making a bundle on the refinancing boom, Wells Fargo (WFC) hasn't yet scratched the surface, says Mike Heid - the head of the bank's home lending unit. More than 40% of customers in Wells' $1.9T servicing portfolio have interest rates higher than 4%, equity in their homes, and strong credit. Ongoing discussion in mREIT conference calls points to lack of origination capacity as a key factor holding back refinancing.