Wells Fargo CFO on Mortgage Business, Expenses, Rates

The video discusses the strategic focus on simplifying business operations, particularly in the mortgage sector, amidst rising interest rates. It highlights the transition in the mortgage business, including exiting the correspondent business and managing severance accruals. The economic environment's impact on loan reserves is examined, with expectations of economic slowdown. Opportunities in wealth management and investment banking are explored, emphasizing targeted growth. The video concludes with a discussion on the impact of Fed rate hikes on consumer deposit rates.

What are the key areas of focus for Wells Fargo in the mortgage and servicing business?

What opportunities does Wells Fargo see in wealth management and investment banking?

How has Wells Fargo started to adjust consumer deposit rates in response to the Fed's actions?