Wells Fargo to Help Customers Facing Mortgage Payment Challenges at Home Preservation Workshops in Nine Cities
Customers can meet one-on-one with home preservation specialists to seek options such as modifications and workouts to help avoid foreclosure
DES MOINES, Iowa--(BUSINESS WIRE)-- Wells Fargo & Company (NYS: WFC) , the nation's largest home mortgage lender, today announced plans to host nine Home Preservation Workshops for Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity customers facing financial hardships. Wells Fargo will invite thousands of customers who may be experiencing mortgage payment challenges to the free workshops. Parking is free.
Upcoming Wells Fargo Home Preservation Workshops
Wells Fargo will host workshops in the following cities:
Portland, Ore. (January 17)
Las Vegas (January 25)
Oakland (February, 13)
Sacramento (February 22)
Los Angeles (March 7; registration opens January 28)
San Diego (March 21; registration opens February 11)
Ontario, Calif. (April 10, registration opens March 4)
Phoenix (April 23, registration opens March 19)
Stockton, Calif. (May 16, registration opens April 8)
How to register for a Wells Fargo Home Preservation Workshop
Walk-ins are welcome although registration is strongly recommended in order to guarantee the ability to meet one-on-one with a representative. Customers should register at www.wfhmevents.com/leadingthewayhome or call 1-800-405-8067 for more information.
"Although less than 2 percent of homeowner-occupied loans in our servicing portfolio have resulted in foreclosure sale over the past year, helping struggling mortgage customers find options to help them stay in their homes is a top priority," said Joe Ohayon, Wells Fargo's senior vice president of Community Outreach with Wells Fargo Home Mortgage. "These workshops provide Wells Fargo home mortgage customers with the opportunity to meet face-to-face with our home preservation specialists to discuss options available to help them keep their homes and avoid foreclosure."
Where possible, borrowers will receive a decision on a workout, loan modification, or other options, on site or shortly following the workshop. From 2009 through 2012, Wells Fargo hosted 82 such workshops across the country where more than 40,000 customers facing payment challenges attended. Many customers received modifications or other loan workouts to help them keep their homes and avoid foreclosure.
Options include Wells Fargo's own loan modification program and the federal government's Home Affordable ModificationProgram (HAMP). About 75 Wells Fargo homepreservation specialist team members, including bilingual specialists, will be on hand at the upcoming workshops to assist customers.
Customers facing mortgage payment difficulties also can call 1-800-678-7986 for more information about potential options to avoid foreclosure.
About Wells Fargo Home Loans
Wells Fargo originates one in every three home loans in the country, and services one of every six.
As of the fourth quarter of 2012, nearly 93 percent of Wells Fargo's mortgage customers nationwide remained current on their loan payments.
From January 2009 through November 2012, Wells Fargo has modified 832,626 mortgage loans. Of those modifications, 84 percent were done through Wells Fargo's own modification programs and 16 percent were through the federal government's Home Affordable Modification Program (HAMP).
As of the third quarter in 2012, Wells Fargo's delinquency and foreclosure rates remain significantly below the industry average.
Less than 2 percent of the loans secured by owner-occupied homes and serviced by Wells Fargo resulted in a foreclosure sale in the last 12 months.
Just 7.32 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the third quarter of 2012 compared to an industry average of 11.42 percent. Wells Fargo's totals are down from a peak of 8.96 percent in the fourth quarter of 2009.
About Wells Fargo
Wells Fargo & Company (NYS: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune's 2012 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.
Wells Fargo & Company
Chris Hammond, 415-222-4106 (Media)
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