First-quarter results came in today for Wells Fargo (NYSE: WFC ) and JPMorgan Chase (NYSE: JPM ) , and while these are substantially different institutions, one constant between the two was the dramatic fall in mortgage lending.
In this segment from Friday's Investor Beat, host Chris Hill and Motley Fool analyst James Early discuss these two big banks, and how heavily dependent each is on the mortgage lending business. James notes that, while both of these banks have had a dramatic run-up since the crisis, he's still wary of the sector, in general, which he still sees as fragile enough to backslide at any time.
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