August 07, 2012 at 09:00 AM EDT
Wells Fargo to Help Philadelphia Area Customers Facing Mortgage Payment Challenges at August 15 & 16 Home Preservation Workshop

Wells Fargo & Company (NYSE:WFC) is hosting a free Home Preservation Workshop in Philadelphia for Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity customers facing financial hardships. Wells Fargo has invited more than 43,000 mortgage customers in the greater Philadelphia region to the free workshop which will be held on Wednesday, August 15 and Thursday, August 16, from 9 a.m. to 7 p.m., at the Pennsylvania Convention Center, Hall C, 1101 Arch Street in Philadelphia. Attendance is free. The free counseling sessions in Philadelphia follow Wells Fargo’s home preservation workshop scheduled this Wednesday and Thursday, Aug. 8-9 at the Meadowlands Expo Center in Secaucus, N.J.

How to register for Wells Fargo’s Philadelphia Home Preservation Workshop

Walk-ins are welcome, though registration is strongly recommended in order to guarantee the ability to meet one-on-one with a representative. Sign up by midnight on Sunday, August 12, 2012 at www.wfhmevents.com/leadingthewayhome. For more information call 1-800-405-8067.

“Although less than 2 percent of homeowner-occupied loans in our servicing portfolio have resulted in foreclosure sale over the past year, we understand that some of our customers are going through difficult times during this economic recovery,” said Marie Day, Wells Fargo Home Mortgage regional servicing director. “During this free workshop Wells Fargo Home Mortgage customers, who are faced with payment challenges, will have the opportunity to meet face-to-face with our home preservation specialists to explore the options available to them. Our goal with this workshop is to help as many people as possible preserve homeownership.”

This is the third Home Preservation Workshop Wells Fargo has held in Philadelphia and 71st the company has hosted since Sept. 2009. About 75Wells Fargo home preservation specialist 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 22nd scheduled workshop Wells Fargo has hosted in 2012. Since September 2008, Wells Fargo has met with more than 36,500 customers at 69 Home Preservation Workshops nationwide. The next Home Preservation Workshops is scheduled for Newark/Secaucus on August 8 and 9.

Customers facing mortgage payment difficulties also can 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 first quarter of 2012, more than 93 percent of Wells Fargo’s mortgage customers nationwide remained current on their loan payments.
  • From January 2009 through June 30, 2012, Wells Fargo has modified 781,099 mortgage loans. 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 first quarter in 2012, Wells Fargo’s delinquency and foreclosure rates remain significantly below the industry average.
  • Less 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 6.89 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the first quarter of 2012 compared to an industry average of 10.88 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 has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Contacts:

Wells Fargo & Company
Barbara Nate, 215-670-3972 (Media)
mobile: 215-234-2720
barbara.nate@wellsfargo.com
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