Wells Fargo to Help Sacramento Area Customers Facing Mortgage Payment Challenges

Published on Wednesday, 01 February 2012 12:34 Written by TradersHuddle Staff

SACRAMENTO, Calif.-( Business Wire )-

Wells Fargo & Company (NYSE: WFC) is hosting a free Home Preservation Workshop in Sacramento for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships. Wells Fargo has invited more than 11,000 mortgage customers in the Sacramento area to the two-day free workshop which will be held on Wednesday, Feb. 8 and Thursday, Feb. 9, 2012, from 9 a.m. – 7 p.m., at the Sacramento Convention Center, Hall D and C, located at 1400 J Street in Sacramento. Parking is free.

How to register for Wells Fargo’s Sacramento 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, February 6, at www.wfhmevents.com/leadingthewayhome. For more information call 1-800-405-8067.

“Wells Fargo wants our customers to succeed financially and helping borrowers find the options to help them stay in their homes in this difficult economy is a top priority,” said David Galasso, Wells Fargo’s Northern and Central California regional president. “This workshop gives Wells Fargo and Wachovia home mortgage customers, who are faced with payment challenges, the opportunity to meet face-to-face with our home preservation specialists to explore and discuss the options available for them.”

Approximately 100 Wells Fargo home retention team members – including bilingual specialists – will be on hand at the upcoming workshop to assist 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 Fargo’s own loan modification program and the federal government’s Home Affordable Modification Program (HAMP). This will be the fourth scheduled workshop Wells Fargo will host in 2012. Wells Fargo has met with nearly 30,000 customers at 51 Home Preservation Workshops since Sept. 2009.

Following the Sacramento Home Preservation Workshop, Wells Fargo will hold the next workshops of 2012 in Fresno, Calif. (Feb. 23), Oakland, CA (March 8 - 9) and Los Angeles (March 14 - 15).

Customers across the country facing mortgage payment difficulties can also call 1-800-678-7986 for more information about potential options to avoid foreclosure.

About Wells Fargo’s 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 Fargo’s mortgage customers remained current on their loan payments.
• From January 2009 through November 2011, the company had 724,710 active trial and completed modifications. Of those modifications, 84 percent were done through Wells Fargo’s own modification programs and 16 percent were through the federal government’s Home Affordable Modification Program (HAMP).
• As of the third quarter in 2011, Wells Fargo’s delinquency and foreclosure rates remain significantly below the industry average.
• Less than 2.0 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 7.63 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the third quarter of 2011 compared to an industry average of 10.70 percent. Wells Fargo’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 other distribution channels across North America and internationally. With more than 272,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Wells Fargo & CompanyJulie Campbell, 916-440-4433 or 916-402-2350 (mobile)campbeju@wellsfargo.comChris Hammond, 415-222-4106 or 415-310-9152 (mobile) This e-mail address is being protected from spambots. You need JavaScript enabled to view it.