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BRIEF-Wells Fargo mortgage staffing "a little bit heavy"-CFO
July 14, 2015 / 3:39 PM / 2 years ago

BRIEF-Wells Fargo mortgage staffing "a little bit heavy"-CFO

July 14 (Reuters) - Wells Fargo & Co Chief Executive John Stumpf and Chief Financial Officer John Shrewsberry spoke on a conference call with analysts on Tuesday to discuss second-quarter earnings. Below are some comments they made:

* Wells Fargo’s purchase of GE Capital loans means new customers, more business-CFO

* Wells Fargo will see more benefits to interest income from GE Capital loans in third quarter-CFO

* Wells Fargo can grow net interest income in 2015 even if rates remain low-CFO

* Wells Fargo expects mortgage origination in third quarter to be lower than second quarter-CFO

* Wells Fargo set aside more money to cover deteriorating energy loans in second quarter-CFO

* Wells Fargo expects dividend payout ratio to remain in range of 55 TO 75 percent for full year-CFO

* Wells Fargo is “aggressively” growing credit card business with existing customers-CFO

* Wells Fargo looking at further acquisitions where assets fit into existing business model-CFO

* Wells Fargo is further scrutinizing energy loans in second half of the year-CFO

* Wells Fargo energy loans “relatively immaterial” to broader bank at 2 pct of loan book-CFO

* Wells Fargo can reduce liquidity by tens of billions of dollars more before worrying about regulatory ratios-CFO

* Wells Fargo CFO: other big banks discouraging deposits to help regulatory capital metrics

* Wells Fargo CFO: new home purchases are strong, but still not at precrisis levels

* Wells Fargo expects efficiency ratio to remain in same range due to business investments-CFO

* Wells Fargo sees non-bank lenders paying higher premiums for loan portfolios to grow-CFO

* Wells Fargo expects to continue growing auto loans because its portfolio is smaller than peers-CFO

* Wells Fargo will continue investing in businesses whether or not interest rates rise this year-CEO

* Wells Fargo sees long-term rates staying lower for longer than management forecast six months ago-CFO

* Wells Fargo mortgage staffing “probably a little bit heavy” relative to “normal” times-CFO (Reporting by Lauren Tara LaCapra)

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