N@N

Wells Fargo Helps Mortgage Customers Facing Payment Challenges

^{Published on 2010-11-30 17:40:17 - Market Wire}
 

ONTARIO, Calif.--([ BUSINESS WIRE ])--Wells Fargo & Company (NYSE:WFC) announced today it is hosting a free workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships.The two-day workshop a" to which Wells Fargo has invited thousands of Southern California homeowners a" will take place Dec. 8 and 9, from 9 a.m. a" 7 p.m. at the Ontario Convention Center Exhibit Hall located at 2000 E. Convention Center Way in Ontario, Calif.

"Wells Fargo is committed to helping people stay in their homes"

aWells Fargo is committed to helping people stay in their homes,a said Diana Stauffer, Wells Fargo Home Mortgage senior vice president and regional servicing director for California. aThis workshop is another example of our efforts to reach out to homeowners who are facing payment challenges and provide answers on the options available for them.a

Nearly 200 homeretention team members will assist and work one-on-one with mortgage customers facing payment challenges. Wells Fargo team members are prepared to take up to 2,000 appointments. Borrowers may receive a decision on a loan modification, or other option, on site. Bilingual representatives will be available to assist borrowers during the event. In many cases, borrowers may receive a decision on a loan modification, or other option, on site or shortly following the workshop. Options include the federal governmenta™s Home Affordable ModificationProgram (HAMP) and Wells Fargoa™s own loan modification program.

How to register

Walk-ins are welcome, but registration is strongly recommended in order to guarantee your ability to meet with a representative. Sign up by Tuesday, Dec. 6, at [ www.wfhmevents.com/leadingthewayhome ]. For more information call 1-800-405-8067.

About Wells Fargoa™s loan modification efforts

Wells Fargo is making every effort to keep people in their homes through the federal Home Affordable Modification Program (HAMP) and the companya™s own modification programs focused on mortgage payment relief. In 2009 through the end of October 2010, Wells Fargo has modified 577,192 mortgage loans a" of which 89 percent (or 514,112 mortgages) were done outside of HAMP.

In the third quarter of 2010, about 92 percent of Wells Fargoa™s mortgage customers remained current on their loan payments and the companya™s delinquency and foreclosure rates were three-fourths that of the industry. As a result, fewer than 2 percent of the loans secured by owner-occupied homes and serviced by Wells Fargo proceeded to a foreclosure sale in the last 12 months.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 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 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With 278,000 team members, Wells Fargo serves one in three households in America.Wells Fargo & Company was ranked #19 on Fortunea™s 2009 rankings of Americaa™s largest corporations. Wells Fargoa™s vision is to satisfy all our customersa™ financial needs and help them succeed financially.