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NEW YORK and SAN FRANCISCO — Both JPMorgan Chase and Wells
Fargo & Co. enjoyed healthy gains in auto originations during the second
quarter as both companies watched growth come "across the credit spectrum."

Both companies recently reported their second-quarter
financial statements, and each one generated doubled-digit gains in auto loan
origination year-over-year.

First at Chase, the company tabulated that its origination
volume totaled $5.8 billion during the second quarter, a figure 14 percent higher
than a year earlier and 7 percent above the previous quarter's total.

Through the first six months of the year, Chase determined
its auto origination volume came in at $11.6 billion, up from $10.2 billion
from the first half of last year.

The improvement left Chase's average amount auto loans as of
the second quarter at $48.3 billion, up 3 percent from the prior year and 1
percent from the prior quarter.

Meanwhile over at Wells Fargo, officials determined their auto
origination volume in the second quarter moved 18 percent higher from a year
earlier and 6 percent above the previous quarter.

The gains pushed Wells Fargo's direct auto loan volume to $2.387
billion and indirect auto loan volume to $42.41 billion as of the close of the
second quarter.

Companies Discuss Delinquency Rates

As each company posted gains in origination volume, their second-quarter
delinquency figures ticked up as well.

Beginning with Chase, officials said their second-quarter
30-day delinquency rate came in at 0.90 percent, up from the previous quarter
of 0.79 percent. However, the figure still settled lower than a year earlier
when it was 0.98 percent. That timeframe started string of three straight
quarters of the 30-day delinquency rate dipping below 1 percent.

For the first six months of the year, Chase determined that
its 30-day delinquency rate settled at the same level as the second-quarter
reading, 0.90 percent. During the first half of last year, it was 0.98 percent.

Turning over to Chase's net charge-off rate for its vehicle
contracts, officials found it ticked up slightly year-over-year, moving up to
0.17 percent in the second quarter from 0.16 percent. However, the rate
softened quarter-over-quarter as Chase pegged it at 0.28 percent for the
opening quarter of the year.

When Wells Fargo officials touched on delinquencies, they
found the total volume of 30 days or more behind as of the second quarter climbed
$65 million to $517 million. They believe the quarter-over-quarter jump
reflects seasonality.

As far as its indirect auto loans, Wells Fargo determined its
net charge-off rate dropped significantly from 0.57 percent to 0.29 percent.