"You have low rates on one side encouraging borrowing and putbacks to the GSEs on the other side that make lenders less willing to lend money," says John Stumpf.

Wells Fargo Guardedly Endorses Mel Watt's Agenda at FHFA

Wells Fargo executives said they support federal regulators' effort to expand mortgage credit availability but cautioned that it will produce little benefit for the bank's, or the industry's, bottom line.

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