Wells Fargo sees third-quarter lending slower in autos, commercial real estate

Wells Fargo sees third-quarter lending slower in autos, commercial real estate

Wells Fargo & Co third quarter lending will be slowed by reduced lending in autos, commercial real estate and the runoff of its junior lien mortgage portfolio, according to a company presentation Tuesday.

The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking

REUTERS: Wells Fargo & Co third quarter lending will be slowed by reduced lending in autos, commercial real estate and the runoff of its junior lien mortgage portfolio, according to a company presentation Tuesday.

The third largest U.S. bank said those declines would be partially offset by increased non-conforming residential first mortgage lending.

(Reporting by Dan Freed in New York)

Source: Reuters

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