Business & Finance
Business and Finance
Business and Finance
Wed, June 22, 2011 Wells Fargo Helps Mortgage Customers Facing Payment Challenges in Irvine
IRVINE, Calif.--([ BUSINESS WIRE ])--Wells Fargo & Company (NYSE: WFC) is hosting a local Home Preservation Workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships. The two-day workshop will take place June 22 and 23 at the Hyatt Regency Irvine.
"Our goal is to help our customers succeed financially and helping them remain in their homes is a top priority"
aOur goal is to help our customers succeed financially and helping them remain in their homes is a top priority,a said Diana Stauffer, Wells Fargo Home Mortgage senior vice president and regional servicing director for California. aHomeowners facing mortgage challenges or financial hardships will have the opportunity to meet face-to-face with a representative who can help find options available for them, in many cases, on site at the event.a
More than 175 homeretention team members will be available to work one-on-one with mortgage customers facing payment challenges. Bilingual representatives in multiple languages 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.
Wells Fargo has proactively worked to help customers by hosting multi-day Home Preservation Workshops in convention centers of major metropolitan areas hard-hit by the current economic conditions. The Irvine event will be the fourth workshop in the Southern California region within the last two years. Earlier this month, the company hosted an event at the Pasadena Convention Center where 560 customers were served, many of whom received on-the-spot decisions.
This event will be the 31st Home Preservation Workshop Wells Fargo has conducted throughout the country since 2009 and 15th this year. More than 21,000 customers have been assisted at these events. Seventeen additional Home Preservation Workshops are planned in hard-hit communities across the country by the end of this year.
Mortgage Assistance
More than 600 homeowners are registered for this free Wells Fargo Home Preservation Workshop; walk-ins without appointments also are welcome. Customers may view a check list of documents to bring with them to the workshop 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. As of January 2009 through April 2011, the company had 673,179 active trial and completed modifications. Of those modifications, 574,128, or 85 percent, were done through Wells Fargoa™s own modification programs and 99,051 have been done through the federal governmenta™s Home Affordable Modification Program (HAMP).
Ninety-five percent of Wells Fargoa™s Orange County mortgage customers remain 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. As of the first quarter in 2011, Wells Fargoa™s delinquency and foreclosure rate decreased for the fourth consecutive quarter and remains significantly below the industry average.
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 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortunea™s 2011 rankings of Americaa™s largest corporations. Wells Fargoa™s vision is to satisfy all our customersa™ financial needs and help them succeed financially.
