According to a report on MSNBC.com today, one of the few businesses working well for the biggest banks these days is the same one that got them in trouble just five years ago: mortgages.
The article says that Wells Fargo and JPMorgan Chase are both expected to post more than $4.5 billion in profits for the third quarter, an increase of more than 15 percent from last year, according to Thomson Reuters I/B/E/S.
I wonder what type of mortgage software they are using? Does it have failsafes in place? Is it compliant? Hmm.
Good news though.