Wells Fargo to Help Sarasota Area Customers Facing Mortgage Payment Challenges at Nov. 29 Home Preservation Workshop

  Wells Fargo to Help Sarasota Area Customers Facing Mortgage Payment
  Challenges at Nov. 29 Home Preservation Workshop

   Some customers able to access programs resulting from attorneys general
settlement or state’s Hardest Hit program; many prepared homeowners to receive
         modifications on the spot at 80^th workshop since fall 2009

Business Wire

SARASOTA, Fla. -- November 23, 2012

Wells Fargo & Company (NYSE: WFC) is hosting a free Home Preservation Workshop
for Sarasota area Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells
Fargo Home Equity customers facing financial hardships. Wells Fargo has
invited 12,300 mortgage customers to the free workshop which will be held on
Thursday, November 29 from 9 a.m. to 7 p.m., at the Bradenton Convention
Center –Center Hall, located at 1 Haben Boulevard in Palmetto. Parking is
free.

At the event, customers who meet basic guidelines may begin the process of
applying for Florida’s Hardest Hit program, which provides up to 12 months of
mortgage payments for those who are unemployed or underemployed.

Some Wells Fargo customers – those whose loans are both serviced and owned by
Wells Fargo – may be eligible for options created by a settlement with
attorneys general in Florida and elsewhere. Homeowners whose loans are “under
water” – meaning they owe more on their mortgage than the value of their home
– may be eligible to refinance their loan based on criteria including
demonstrating ability to repay. Depending on eligibility for a loan
modification, homeowners who are behind on their payments may also receive a
principal reduction on their mortgage.

How to register for Wells Fargo’s Sarasota Home Preservation Workshop

Walk-ins are welcome, although registration is strongly recommended in order
to guarantee the ability to meet one-on-one with a representative. Customers
should register by Tuesday, November 27, 2012 at
www.wfhmevents.com/leadingthewayhome or call 1-800-405-8067 for more
information.

“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 Hugh Rowden, Wells Fargo Home Mortgage regional
servicing director. “During this free 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 workshop is to help as many
people as possible preserve homeownership.”

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 first large-scale Home Preservation Workshop Wells Fargo has
hosted in the Sarasota area and is the 80^th the company has hosted since
September 2009 and 10^th in Florida. The Sarasota event will be the 31st
workshop hosted by Wells Fargo in 2012. The company has met with nearly 40,000
customers at its workshops since September 2009 nationwide.

Other upcoming Wells Fargo Home Preservation Workshops in Florida include West
Palm Beach (December 6), and Miami (December 12 & 13).

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.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.4 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 has offices in more than 35 countries to support the bank’s customers who
conduct business in the global economy. With approximately 265,000 full-time
equivalent team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012
rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy
all our customers’ financial needs and help them succeed financially.

Contact:

Wells Fargo & Company
Kathy Harrison, 904-351-7234
kathy.harrison@wellsfargo.com
Chris Hammond, 415-222-4106
chris.l.hammond@wellsfargo.com
 
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