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Wells Fargo has $83 billion in home equity exposure

posted 33 weeks ago on Blown Mortgage

In Moody's affirmation of Wells Fargo's Aaa credit rating the rating agency pointed to the health of Wells Fargo's $83.68 billion home equity portfolio as a key driver in the company's rating. If this portfolio should see degradation then the bank's rating could suffer, said Moody's in a press release. From Moody's press release about Wells Fargo's credit rating: MUMBAI, Apr. 18, 2008 (Thomson Financial delivered by Newstex) — Moody's Investors Service said Wells Fargo & Co. (NYSE:GWF) (NYSE:JWF) (NYSE:WSF) (NYSE:WPF) (NYSE:WFC) has avoided the market pitfalls that plagued its peers but added that key rating drivers still center on the credit performance of its $83.68 billion home-equity portfolio and its capital trends. Currently, Moody's said the credit performance

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