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.