Wells Fargo sees 1Q14 mortgage originations declining from 4Q13 Sees 1Q14 mortgage originations declining from 4Q13, while gain on sale margin is expected to remain in the range reported in 2H13. Says focusing on growing NII over time. Continues to expect future reserve releases, absent significant deterioration in the economy. Targets include: efficiency ratio 55%-59%, ROA 1.3%-1.6%, ROE 12%-15%, total payout ratio ~50%-65%. Comments from slides that are being presented at the Credit Suisse Financial Services Forum.
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