Wells Fargo to Help San Diego, Inland Empire, Los Angeles Area Customers Facing Mortgage Payment Challenges

Several workshops scheduled in 2012 to help thousands of American families avert foreclosure

SAN DIEGO--()--Wells Fargo & Company (NYSE: WFC) is hosting the first of three free workshops across Southern California in San Diego 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 9,000 mortgage customers in San Diego County and South West Riverside to the free workshop which will be held on Wednesday, January 25, 2012 from 9 a.m. – 7 p.m., at the San Diego Convention Center - Hall E located at 111 West Harbor Drive in San Diego. Parking is free - customers should refer to the event website for instructions.

Wells Fargo will host three Southern California workshops in the first quarter of 2012. Following the San Diego workshop, Wells Fargo will host the second workshop in the Inland Empire on February 14 and 15 at the Ontario Convention Center located at 2000 East Convention Center Way in Ontario. The third Southern California workshop is being planned in Los Angeles in mid-March.

How to register for Wells Fargo’s San Diego 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, January 23 at www.wfhmevents.com/leadingthewayhome. For more information call 1-800-405-8067.

“Wells Fargo wants our customers to succeed financially and helping struggling borrowers find the right option so families can stay in their homes in this difficult economy is a top priority,” said Diana Stauffer, Wells Fargo Home Mortgage senior vice president and regional servicing director for California. “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). The San Diego and Ontario events will be the fourth and fifth workshops in the Southern California region since 2010. The company hosted three previous workshops in Ontario, Irvine, and Pasadena, where home preservation specialists met one-on-one with more than 2,600 homeowners facing mortgage payment challenges.

Following the San Diego Home Preservation Workshop, Wells Fargo will hold several more workshops in 2012, Sacramento (Feb. 8-9), Ontario (Feb. 14-15), and Fresno, Calif. (Feb. 23). Wells Fargo has met with more than 29,000 customers at 51 Home Preservation Workshops since Sept. 2009. Customers across the country facing mortgage payment difficulties may also call 1-800-678-7986 for more information about potential options to help 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 in San Diego serves consumers and businesses through 104 retail stores, 324 ATMs, and employs 3,100 team members. In 2011, Wells Fargo invested $2.4 million in 400 Southern California schools and nonprofits.

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
San Diego
Amy Savicky Injaian, 858-622-6910 or 858-805-1889 (mobile)
Amy.Injaian@wellsfargo.com
Los Angeles
Jason Vasquez, 213-253-3733
Jason.A.Vasquez@wellsfargo.com
Riverside, San Bernardino
Lynne Kristensen, 951-736-5300 or 951-264-3913 (mobile)
Lynne.M.Kristensen@wellsfargo.com

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Contacts

Wells Fargo & Company
San Diego
Amy Savicky Injaian, 858-622-6910 or 858-805-1889 (mobile)
Amy.Injaian@wellsfargo.com
Los Angeles
Jason Vasquez, 213-253-3733
Jason.A.Vasquez@wellsfargo.com
Riverside, San Bernardino
Lynne Kristensen, 951-736-5300 or 951-264-3913 (mobile)
Lynne.M.Kristensen@wellsfargo.com