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Wells Fargo to Help San Antonio Customers Facing Mortgage Payment Challenges

^{Published on 2011-11-04 17:23:05 - Market Wire}
 

SAN ANTONIO--([ BUSINESS WIRE ])--Wells Fargo & Company (NYSE:WFC) announced today that for the first time the company is hosting a free Home Preservation Workshop in San Antonio for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships.Wells Fargo has invited nearly 2,600 mortgage customers to the San Antonio workshop scheduled for Wednesday, Nov. 9, from 9 a.m. a" 7 p.m., at the Hyatt Hill Country, 9800 Hyatt Resort Drive, San Antonio, 78251. Parking is free.

"This 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."

How to register for Wells Fargoas San Antonio 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 Monday, Nov. 7 at [ www.wfhmevents.com/leadingthewayhome ]. For more information call 1-800-405-8067.

Approximately 50 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 Fargoas own loan modification program and the federal governmentas Home Affordable ModificationProgram (HAMP). Since September 2009, Wells Fargo has met with more than 27,500 customers at the 44 Home Preservation Workshops, held to date. While this is the first Wells Fargo Home Preservation Workshop held in San Antonio since 2009, Wells Fargo has participated in 44 home preservation outreach events with nonprofits in Texas including six such workshops in San Antonio.

aWells Fargo wants to help its customers succeed financially and keeping them in their homes is a top priority,a said Hugh Rowden, Wells Fargo Home Mortgage regional servicing director. 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

Upcoming 2011 Home Preservation Workshops

Following San Antonio, Wells Fargoas next three Home Preservation Workshops are scheduled in:

* Ft. Myers, FL (Nov. 16-17)

* Ft. Lauderdale, FL (Dec. 7-8)

* Charlotte, NC (Dec. 15)

About Wells Fargoas Home Loans

• Wells Fargo originates one in every four home loans in the country, and services one of every six.
• In the third quarter of 2011, more than 92 percent of Wells Fargoas mortgage customers remained current on their loan payments.
• January 2009 through September 2011, the company had 716,176 active trial and completed modifications. Of those modifications, 85 percent were done through Wells Fargoas own modification programs and 15 percent were through the federal governmentas Home Affordable Modification Program (HAMP).
• As of the second quarter in 2011, Wells Fargoas delinquency and foreclosure rates remain significantly below the industry average.
• Less than 1.3 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 7.44 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the second quarter of 2011 compared to an industry average of 10.58 percent, according to the Sept. 2 edition of Inside Mortgage Finance. Wells Fargoas totals are down from a peak of 8.96 percent in the fourth quarter of 2009.

About Wells Fargo

In Texas, Wells Fargo has more than 20,000 team members, more than 700 Community Banking stores and more than 1,000 ATMs. 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 Fortuneas 2011 rankings of Americaas largest corporations. Wells Fargoas vision is to satisfy all our customersa financial needs and help them succeed financially. Wells Fargo Bank, N.A. is an equal housing lender.