Wells Fargo to Help Central Valley Customers Facing Mortgage Payment Challenges Wednesday and Thursday at Stockton Arena

More than 11,000 Central Valley homeowners invited to Stockton for first of seven California Wells Fargo Home Preservation Workshops planned for 2012

STOCKTON, Calif.--()--Wells Fargo & Company (NYSE:WFC) is hosting a free Home Preservation Workshop in Stockton for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships. Wells Fargo has invited more than 11,000 mortgage customers in the Stockton area to the two-day free workshop which will be held on Wednesday, January 18, 2012, from 2 p.m. – 8 p.m. and Thursday, January 19, from 9 a.m. to 7 p.m., at the Stockton Arena, Main Entrance, located at 248 West Fremont Street in Stockton. Parking is free.

More than 250 homeowners have registered and walk-ins are welcome to the Stockton workshop, the first of seven the company plans in California this year. Stockton is the 51st Home Preservation Workshop the company has organized since September 2009 where Wells Fargo home preservation specialists have met one-on-one with nearly 30,000 homeowners.

“Wells Fargo wants our customers to succeed financially and helping struggling borrowers find the options to help families stay in their homes in this difficult economy is a top priority,” said David Galasso, Wells Fargo’s Northern and Central California regional president. “This workshop gives Wells Fargo and Wachovia home mortgage customers, who are faced with payment challenges, the opportunity to meet face-to-face with our home preservation specialists to explore and discuss the options available for them.”

Approximately 75 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).

How to Register for Wells Fargo Home Preservation Workshops in California

Following the Stockton Home Preservation Workshop, Wells Fargo will hold its next workshops of 2012 in San Diego (Jan. 25), Sacramento (Feb. 8-9), and Fresno, Calif. (Feb. 23). 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 at www.wfhmevents.com/leadingthewayhome. For more information call 1-800-405-8067.

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.
  • Since January 2009 through November 2011, the company had 724,710 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 other distribution channels across North America and internationally. With more than 272,000 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.

Contacts

Wells Fargo & Company
Julie Campbell, 916-440-4433 (office) or 916-402-2350 (mobile)
campbeju@wellsfargo.com
Chris Hammond, 415-222-4106 (office) or 415-310-9152 (mobile)
chris.l.hammond@wellsfargo.com

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Contacts

Wells Fargo & Company
Julie Campbell, 916-440-4433 (office) or 916-402-2350 (mobile)
campbeju@wellsfargo.com
Chris Hammond, 415-222-4106 (office) or 415-310-9152 (mobile)
chris.l.hammond@wellsfargo.com