Wells Fargo & Company (NYSE: WFC) is hosting a free Home Preservation Workshop in Los Angeles for Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity customers facing financial hardships. Wells Fargo has invited more than 13,000 mortgage customers within a 100 mile radius of Los Angeles to the free two-day workshop which will be held on Wednesday, March 14 and Thursday, March 15, 2012, from 9 a.m. – 7 p.m., at the Los Angeles Convention Center – Hall B, located at 1201 South Figueroa Street in Los Angeles. Parking and attendance are free.

Walk-ins welcome, 650 already registered for LA Wells Fargo Home Preservation Workshop

Walk-ins are welcome, and more than 650 customers have scheduled appointments to meet one-on-one with a Wells Fargo home preservation specialist. Customers should bring all the documents used to get their mortgage. A complete list of documents customers should bring is available at www.wfhmevents.com/leadingthewayhome. For more information call 1-800-405-8067.

“We remain committed to assisting homeowners facing financial hardships with mortgage payment options to help keep them in their homes,” said John Sotoodeh, president of Wells Fargo’s L.A. Metro/Orange County Regional Bank. “During this two-day workshop, Wells Fargo home mortgage customers facing 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 event is to help as many people as possible preserve their homes.” This is the 16 th Home Preservation Workshop Wells Fargo has hosted in Los Angeles and the 16 th in California since 2009.

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 eighth scheduled workshop Wells Fargo will host in 2012. Wells Fargo has met with more than 33,000 customers at its Home Preservation Workshops since Sept. 2009 nationwide.

Following the workshop in Los Angeles, Wells Fargo will hold the next workshop of 2012 in Las Vegas (March 21).

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 fourth quarter of 2011, more than 92 percent of Wells Fargo’s mortgage customers remained current on their loan payments.
  • From January 2009 through January 2012, the company had 733,180 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 fourth 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 7.96 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the fourth quarter of 2011 compared to an industry average of 10.88 percent.

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. 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 Bank, NA, is an equal opportunity housing lender.

Copyright Business Wire 2010

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