Goldman actually entered the subprime MBS and financing game a bit late compared to some of its peers. At one point it even owned a small subprime lender.
Wells' lending performance stands in contrast to its closest JPMorgan Chase, which reported a 23.3 percent sequential decline in mortgage production for the period.
When’s the last time a regional or megabank bought a nonbank mortgage company? Wells Fargo? JPMorgan? BofA? Citigroup? Nope, none of them, that we can recall...
At yearend, JPM held $157.1 billion of what it calls “prime mortgages” (including option ARMs), a stunning 48 percent increase over the past 12 months.