August 15, 2012 at 12:00 PM EDT
Wells Fargo to Help Hampton Roads Area Customers Facing Mortgage Payment Challenges at August 23 Home Preservation Workshop

Wells Fargo & Company (NYSE: WFC) is hosting a free Home Preservation Workshop in Virginia Beach for Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity customers facing financial hardships. Wells Fargo has invited more than 2,900 mortgage customers in the Hampton Roads area to the free workshop which will be held on Thursday, August 23, from 9 a.m. to 7 p.m., at the Virginia Beach Convention Center, Hall D, 1000 19th Street in Virginia Beach. Attendance and parking are free.

How to register for Wells Fargo’s Virginia Beach 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 Tuesday, August 21, 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.”

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). About 75 Wells Fargo home preservation specialist team members – including bilingual specialists – will be on hand at the upcoming workshop to assist customers.

While Wells Fargo has participated in several home preservation events locally to provide assistance for its Hampton Roads-based customers, this is the first Home Preservation Workshop Wells Fargo has hosted in Virginia Beach and the 72nd the company has hosted since September 2009. This will be the 23rd scheduled workshop Wells Fargo has hosted in 2012. Wells Fargo has met with more than 37,000 customers at 70 Home Preservation Workshops since September 2009 nationwide.

Other upcoming Wells Fargo Home Preservation Workshops include Baltimore, on September 6; Prince George’s County, MD on September 13; and Atlanta on September 19 and 20.

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 second 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 other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. In Colorado, Wells Fargo serves customers through 170 banking stores, 20 Wells Fargo Home Mortgage stores, and 30 Wells Fargo Advisors locations. 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
Kristy Marshall, 804-697-7252 (office)
804-313-7965 (mobile)
kristy.marshall@wellsfargo.com
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