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Wells Fargo to Help Philadelphia Area Customers Facing Mortgage Payment Challenges

^{Published on 2011-09-23 07:13:54 - Market Wire}
 

PHILADELPHIA--([ BUSINESS WIRE ])--Wells Fargo & Company (NYSE: WFC) announced today that it is hosting a free Home Preservation Workshop in Philadelphia for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships.Wells Fargo has invited nearly 35,000 mortgage customers to the Philadelphia workshop scheduled for October 5-6, from 9 a.m. a" 7 p.m., at the Pennsylvania Convention Center, West Hall aEa, 1101 Arch Street in Philadelphia.

"Events like this Home Preservation Workshop provide a key opportunity for customers to work with us in addressing the challenges they face."

How to register for Wells Fargoa™s Philadelphia Home Preservation Workshop

Walk-ins are welcome, but registration is strongly recommended in order to guarantee the ability to meet one-on-one with a representative. Sign up by Tuesday, Oct. 3 at [ www.wfhmevents.com/leadingthewayhome ]. For more information call 1-800-405-8067.

Approximately 100 Wells Fargo homeretention team members a" including bilingual specialists a" will be on hand at the upcoming workshop to work with customers. Where possible, borrowers will receive a decision on a workout, loan modification, or other options, on site or shortly following the workshop. Options include Wells Fargoa™s own loan modification program and the federal governmenta™s Home Affordable ModificationProgram (HAMP). Since September 2009, Wells Fargo has met with more than 26,000 customers at the 40 Home Preservation Workshops, held to date. In 2010, Wells Fargo hosted its first Home Preservation Workshop in Philadelphia, where Wells Fargo home retention specialists met one-on-one with more than 500 homeowners facing mortgage payment challenges.

aWells Fargo wants to help homeowners stay in their homes and wea™re working hard to do what we can to help our customers avoid foreclosures and succeed financially,a said Vince Liuzzi, Wells Fargoa™s regional president for Greater Philadelphia and Delaware. aThis workshop offers Wells Fargo and Wachovia home mortgage customers, who are faced with payment challenges, the opportunity to meet face-to-face with our home retention specialists to explore and discuss the options available for them.a

aWells Fargo wants to help its customers succeed financially and keeping them in their homes is a top priority,a said Marie Day, Wells Fargoa™s regional servicing director. aEvents like this Home Preservation Workshop provide a key opportunity for customers to work with us in addressing the challenges they face.a

Upcoming 2011 Home Preservation Workshops

About Wells Fargoa™s Home Loans

• Wells Fargo originates one in every four home loans in the country, and services one of every six.
• In the second quarter of 2011, about 93 percent of Wells Fargoa™s mortgage customers remained current on their loan payments.
• January 2009 through July 2011, the company had 704,869 active trial and completed modifications. Of those modifications, 85 percent were done through Wells Fargoa™s own modification programs and 15 percent were through the federal governmenta™s Home Affordable Modification Program (HAMP).
• As of the second quarter in 2011, Wells Fargoa™s delinquency and foreclosure rates remain significantly below the industry average.
• 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.
• 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.