Wells Fargo to Help Ohio Customers Facing Mortgage Payment Challenges
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 one-day workshop — to which Wells Fargo is inviting 2,000 Ohio homeowners — will take place June 14, from 9 a.m. – 7 p.m. at the Hyatt Regency Columbus Union Room, located at 350 North High St., in Columbus, OH.
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 June 12, at www.wfhmevents.com/leadingthewayhome. For more information call 1-800-405-8067.
About 50 home retention team members will be available to work one-on-one with mortgage 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 government’s Home Affordable Modification Program (HAMP) and Wells Fargo’s own loan modification program.
"Wells Fargo wants our customers to succeed financially and helping struggling homeowners stay in their homes is a top priority,” said Russ Cross, regional servicing director with Wells Fargo Home Mortgage. "This 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.”
Wells Fargo Home Mortgage is making every effort to keep people in their homes and made the decision to organize the company’s 14th Home Preservation Workshop in 2011 in Columbus since Ohio has been hit hard by the economy and foreclosures. Columbus will be Wells Fargo’s 30th workshop it has hosted since Sept. 2009 where Wells Fargo home retention specialists have met with more than 21,000 homeowners.
In the first quarter of 2011, about 93 percent of Wells Fargo’s mortgage customers remained current on their loan payments. Wells Fargo services one out of every six mortgages in the United States, according to Inside Mortgage Finance.
About Wells Fargo’s home preservation efforts
- Wells Fargo, the country’s largest mortgage servicer, is organizing 32 free Home Preservation Workshops and participating in more than 100 third-party sponsored events in 2011 to assist customers facing mortgage payment challenges in hard-hit communities.
- Wells Fargo attempts to reach out to customers, on average, more than 100 times during the period of first delinquency in an effort to assist homeowners.
- January 2009 through March 2011, the company had 665,000 active trial and completed modifications.
- As of the first quarter in 2011, Wells Fargo’s delinquency and foreclosure rate decreased for the fourth consecutive quarter and remains significantly below the industry average.
- 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.
- Wells Fargo national foreclosure rates have historically been below the industry average; for fourth quarter 2010 it was 2.19 percent compared to the industry average of 3.65 percent, while the nation’s second-largest mortgage servicer’s total delinquency and foreclosure rate for fourth quarter 2010 was 8.02 percent, compared to the industry average of 11.35 percent (as of December 2010 according to Inside Mortgage Finance, Feb. 25, 2011).
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 Fortune’s 2010 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
