Fully 14.23% of WFC 1-4 Family 1st Liens are 30+ days past due:
Home Equity is doing a little better, however.
Also take a look at the Non-Accrual rates on the portfolios. Wells clearly is focusing on interest generation right now - they may pay later with higher principal balance charge offs.
your numbers are not adding up to what Fargo filed on their 10q.
Not sure where the mistake was, perhaps you are including off balance sheet loans.
You websight states 5b being charged off which is a different number than Fargo states. Can you explain the difference?
No mistake. There are often differences between Reg data and filings. It doesn't mean one is right and the other wrong, it means that they are reporting different things based upon selection criteria. IR should be able to answer that question.
wfc + world savings + wachovia gives you that sunbelt foot print:
In a little more than three years, the Phoenix area has gone from the hottest of Sun Belt hot spots to one of the nation’s economic disaster areas. It is not alone in its rapid fall.
After riding high during the boom, the Las Vegas area, parts of southern Florida, and Southern California’s inland counties have also been brought low by plunging payrolls, billions lost in housing wealth, a continuing epidemic of foreclosures, record government budget deficits and stagnating populations.
These areas share one thing besides their warm climates. To a degree unmatched in the rest of the country, their recent prosperity was built not on manufacturing, technology or natural resources, but on construction and real estate — growth for its own sake.
As other areas tasted the excesses of the housing boom, they gorged on it. From 2002 to 2006, about 20 percent of private industry growth in the United States was tied to real estate and construction. In the Phoenix area, almost 36 percent of growth in the private economy during that period — more than $34 billion worth — came from real estate and construction.
driven in large part by capital flows from Wall Street and abroad, which financed a wave of speculative residential and commercial development. Overbuilding, in turn, accelerated the region’s already rapid population growth
The nation is the national number less the current institution. I take out the Bank currently being reviewed.
For small banks it wouldn't matter they are too small a piece of the national pie, but when you are looking at our Japanese-style super size banks they can (and you have seen) make a big difference when added in.
Comparing them to a number including themselves would be deceiving.
As long as Wells Fargo and Banks makes screaming profit who cares if everyone has to live in their cars (we bailed them out; I paid $31k in taxes last year, how about you and they still screw us over. Got to love the last 8 years of Republican empowered politics and regulation or lack thereof...........