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February 24, 2012 at 11:00 AM EST
Wells Fargo to Help Bay Area Customers Facing Mortgage Payment Challenges at Two-Day Home Preservation Workshop

Wells Fargo & Company (NYSE: WFC) is hosting a free Home Preservation Workshop in Richmond, Calif. for Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity customers facing financial hardships. Wells Fargo has invited more than 11,000 mortgage customers within a 100 mile radius of Richmond to the free two-day workshop which will be held on Wednesday, March 7 and Thursday, March 8, 2012, from 9 a.m. – 7 p.m., at the Craneway Pavilion, located at 1414 Harbour Way South in Richmond, Calif. Parking and attendance are free.

How to register for Wells Fargo’s Richmond, CA Home Preservation Workshop

Walk-ins are welcome, but registration is strongly recommended in order to guarantee the ability to meet one-on-one with a representative. Sign up by Monday, March 5, at www.wfhmevents.com/leadingthewayhome. For more information call 1-800-405-8067.

“Although less than 2 percent of homeowner-occupied loans in our servicing portfolio have resulted in foreclosure sale over the past year, we understand that some of our customers are going through difficult times during this economic recovery,” said Jim Foley, president of Wells Fargo’s Greater Bay Area region. “During this two-day workshop Wells Fargo home mortgage customers, who are faced with 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 third Home Preservation Workshop Wells Fargo has hosted in the East Bay over the last three years.

More than 100 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 seventh scheduled workshop Wells Fargo will host in 2012. Wells Fargo has met with more than 32,000 customers at 55 Home Preservation Workshops since Sept. 2009 nationwide.

Following the workshop in Richmond, Wells Fargo will hold the next workshops of 2012 in Los Angeles (March 14 - 15) and 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 third quarter of 2011, more than 92 percent of Wells Fargo’s mortgage customers remained current on their loan payments.
  • From January 2009 through December 2011, the company had 728,024 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 third 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 7.63 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the third quarter of 2011 compared to an industry average of 10.70 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 wachovia.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.

Contacts:

Wells Fargo & Company
Ruben Pulido, 415-852-1279 (mobile)
ruben.pulido@wellsfargo.com
Holly Rockwood, 415-852-1278 (mobile)
holly.d.rockwood@wellsfargo.com
Chris Hammond, 415-222-4106 (office) or 415-310-9152 (mobile)
chris.l.hammond@wellsfargo.com
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