Wells Fargo, the biggest U.S. bank originator of mortgages, had its best first quarter in five years without much help from its home-loan business. Look for that to change next quarter, based on the mortgage pipeline Wells Fargo reported. The San Francisco bank said it had $32 billion of unclosed first-lien mortgages that will go on its books in the current quarter, compared with $24 billion it reported for the same period a year earlier.
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