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TheStreet Open House

Wells Fargo To Help Front Range Customers Facing Mortgage Payment Challenges At Home Preservation Workshop

Stocks in this article: WFC

About Wells Fargo’s Home Loans Across the Country

  • 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 remained current on their loan payments.
  • From January 2009 through February 2012, the company had 740,359 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 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. 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.

Copyright Business Wire 2010
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