Wells Fargo and Ocwen Agree to Cancel Sale of Mortgage Servicing Rights

DES MOINES, Iowa--()--Wells Fargo & Co. (NYSE:WFC) announced that its subsidiary, Wells Fargo Bank, N.A., and Ocwen Loan Servicing LLC have mutually decided to cancel a previously announced sale to Ocwen of certain Wells Fargo residential mortgage servicing rights.

Cancelation of the transaction is not expected to be material to Wells Fargo’s consolidated financial results.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.6 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 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com), and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 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 perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

Cautionary Statement About Forward-Looking Information

This news release contains forward-looking statements about our future financial performance and business. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the SEC and available on the SEC’s website at www.sec.gov.

Contacts

Wells Fargo & Company
Media
Tom Goyda, 314-591-0113
or
Investors
Jim Rowe, 415-396-8216

Contacts

Wells Fargo & Company
Media
Tom Goyda, 314-591-0113
or
Investors
Jim Rowe, 415-396-8216