The geographic distribution of Wells Fargo’s consumer relief and refinance activities remains consistent with the distribution of its portfolio and also reflects the fact that the financial commitments under the settlement are focused on borrowers who are in a negative equity position.The results in the report indicate Wells Fargo is on track to complete the number of refinances necessary to satisfy the entire credit in the first 12 months of offering the refinance program, and to meet its commitments on the modification and other consumer relief programs within the required timeframes, as the company had estimated in previous disclosures. The progress to date reflected in the report regarding the refinance program is consistent with what the company has previously disclosed in terms of the number of customers expected to be refinanced through the program and the financial impact.
More Than 45,000 Wells Fargo Customers Helped Through National Mortgage Settlement Programs
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