Business & Finance
Business and Finance
Business and Finance
Wed, July 27, 2011
Tue, July 26, 2011 Wells Fargo to Help Dallas Customers Facing Mortgage Payment Challenges
DALLAS--([ 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 is inviting more than 5,000 customers a" will take place August 3-4, from 9 a.m. a" 7 p.m. each day, at the Hyatt Regency Dallas, located at 300 Reunion Blvd.
"Wells Fargo wants our customers to succeed financially and helping struggling homeowners stay in their homes is a top priority"
How to register
Walk-ins are welcome, but registration is strongly recommended in order to guarantee the ability to meet with a representative. Sign up by Aug. 1 at [ www.wfhmevents.com/leadingthewayhome ]. For more information call 1-800-405-8067.
About 100 homeretention team members will be available to work one-on-one with Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing payment challenges. Bilingual representatives will be available to assist borrowers during the event. In many cases, borrowers may receive a decision on a workout, 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.
aWells Fargo wants our customers to succeed financially and helping struggling homeowners stay in their homes is a top priority,a said John Gavin, Wells Fargoa™s regional president for Dallas-Fort Worth. aThis workshop will offer homeowners who are facing payment challenges the opportunity to meet face to face with a representative to find options available for them.a
Wells Fargo Home Mortgage makes every effort to keep people in their homes. That led to the creation of the companya™s Home Preservation Workshop. Since the first workshop in September 2009, Wells Fargo home retention specialists have met with more than 23,000 homeowners. The decision to hold this yeara™s 19th workshop in Dallas is based on the large number of Wells Fargo mortgage customers in the area.
In the first quarter of 2011, about 95 percent of Wells Fargoa™s mortgage customers in Dallas-Fort Worth remained current on their mortgage loan payments. Wells Fargo services one out of every six mortgages in the United States, according to Inside Mortgage Finance.
About Wells Fargoa™s home preservation efforts
a Wells Fargo is organizing 32 free Home Preservation Workshops and participating in more than 100 third-party sponsored events during 2011 to assist customers facing mortgage payment challenges in hard-hit communities.
a January 2009 through May 2011, the company had 687,047 active trial and completed modifications. Of those modifications, 585,213, or 85 percent, were done through Wells Fargoa™s own modification programs and 101,834 have been done through the federal governmenta™s Home Affordable Modification Program (HAMP).
a As of the first quarter in 2011, Wells Fargoa™s delinquency and foreclosure rates declined for the fourth consecutive quarter and remain significantly below the industry average.
a Fewer 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.
a Just 7.22 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the first quarter of 2011 compared to an industry average of 10.27 percent, according to the May 27 issue of Inside Mortgage Finance, and Wells Fargoa™s totals are down from a peak of 8.96 percent in the fourth quarter of 2009.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 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 275,000 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.
