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.This is the second large-scale Home Preservation Workshop Wells Fargo has hosted in Miami and is the 82nd the company has hosted since September 2009 and 12 th in Florida. The Miami event will be the 33rd workshop hosted by Wells Fargo in 2012. The company has met with more than 40,000 customers at its workshops since September 2009 nationwide. Customers facing mortgage payment difficulties also can call 1-800-678-7986 for more information about potential options to avoid foreclosure. About Wells Fargo Home Mortgage Loans
- Wells Fargo originates one in every four home loans in the country, and services one of every six.
- In the third quarter of 2012, more than 93 percent of Wells Fargo’s mortgage customers nationwide remained current on their loan payments.
- From January 2009 through September 30, 2012, Wells Fargo has modified 812,019 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 second 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 7.14 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the second quarter of 2012 compared to an industry average of 11.37 percent. Wells Fargo’s totals are down from a peak of 8.96 percent in the fourth quarter of 2009.