Reuters logo
BRIEF-Wells Fargo CEO: "No doubt" housing has turned corner
January 11, 2013 / 4:05 PM / 5 years ago

BRIEF-Wells Fargo CEO: "No doubt" housing has turned corner

Jan 11 (Reuters) - Wells Fargo & Co : * CEO John Stumpf says there is “no doubt” housing market has Turned A Corner * Stumpf: Wells’ small and middle-market customers need more fiscal certainty

before they make business investments * Wells CFO Sloan: Wells does not plan to hold mortgages made in first quarter

but will keep $2.3 b started in fourth quarter * Wells CFO Sloan: Wells expects to benefit from seasonally higher mortgage

applications in the first quarter * Wells CFO Sloan: ‘We believe our expenses are still too high’ * Wells CFO Sloan: bank expects more loan-loss reserves in 2013 but less than

in 2012 * Wells CFO Sloan: bank asked Federal Reserve for larger capital distrbution in

2013 than in 2012 in this year’s stress test * Wells CFO Sloan: fiscal cliff was a “net positive” in terms of lending by

commercial customers * Wells CFO Sloan: will still keep new non-conforming, jumbo mortgages * Stumpf: ”We’re still excited about the mortgage business;“ sees ”lots of


Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below