National Mortgage News reports the nation’s largest residential mortgage originator saw a decline of 31 percent from the first quarter, funding only $64 billion new home loans in the second quarter 2011. Wells Fargo Home Mortgage non-interest income fell $397 million from the first quarter to $1.6 billion in the second. One positive sign, however, is that its unclosed mortgages increased from $45 billion at the end of Q1 to $51 billion at the end of June.

(image courtesy Wells Fargo)