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Wells Fargo Proprietary Loan Mods Outpace HAMP Mods 5 to 1
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You're Now Reading:
Wells Fargo Proprietary Loan Mods Outpace HAMP Mods 5 to 1
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Wells Fargo Proprietary Loan Mods Outpace HAMP Mods 5 to 1
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July 5, 2011 (Jeff Alan)

Wells Fargo & Co. announced that since the beginning of 2009, they have initiated 687,047 active trial or completed loan modifications of which 585,213 were done through the company’s own loan modification programs and 101,834 that have been done through the federal government’s Home Affordable Modification Program (HAMP), a ratio of over 5 to 1.

Wells Fargo also reports that during that same time period over 2.7 million consumers have taken advantage of the historically low interest rates and reduced their mortgage payments through refinancing.

As of the first quarter of 2011, about 93 percent of Wells Fargo’s home loan customers have remained current on their mortgage payments, and in the last 12 months, less than 2 percent of the loans secured by owner-occupied homes serviced by Wells Fargo have resulted in foreclosure.

“Avoiding foreclosure is a top priority for us and when customers work with us, we can help 7 of every 10 to stay out of foreclosure,” said Teri Schrettenbrunner, senior vice president, Wells Fargo Home Mortgage. “We continue to introduce means to make the home preservation process easier for customers to manage. That includes improving upon and expanding the primary contact model we introduced in June 2010 so that a customer knows exactly who they are working with on a modification from beginning to end. We also continue to aggressively reach out to customers 60 or more days behind on their home loans via mail and telephone in an effort to engage them.”

Wells Fargo says that nearly half of the 58,000 customers that have attended one of the bank’s 31 Home Preservation Workshops or sought help at one of the 27 Home Preservation Centers around the country have received a decision on the spot or shortly after their visit.

The next Home Preservation Workshop is in Bellevue, Washington, on July 7 and 8, 2011. The event is being held at the Hyatt Regency Bellevue and will be open from 9:00 a.m. until 7:00 p.m. each day. The last day to register for this event is today.

Get more information here.

Tags: Wells Fargo, loan modifications, HAMP, low interest rates, reduced mortgage payments, refinancing, foreclosure, Home Preservation Workshops

Source:
Wells Fargo

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WE VERIFY & TRANSMIT TO LENDERS
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Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

July 5, 2011 (Jeff Alan)

Wells Fargo & Co. announced that since the beginning of 2009, they have initiated 687,047 active trial or completed loan modifications of which 585,213 were done through the company’s own loan modification programs and 101,834 that have been done through the federal government’s Home Affordable Modification Program (HAMP), a ratio of over 5 to 1.

Wells Fargo also reports that during that same time period over 2.7 million consumers have taken advantage of the historically low interest rates and reduced their mortgage payments through refinancing.

As of the first quarter of 2011, about 93 percent of Wells Fargo’s home loan customers have remained current on their mortgage payments, and in the last 12 months, less than 2 percent of the loans secured by owner-occupied homes serviced by Wells Fargo have resulted in foreclosure.

“Avoiding foreclosure is a top priority for us and when customers work with us, we can help 7 of every 10 to stay out of foreclosure,” said Teri Schrettenbrunner, senior vice president, Wells Fargo Home Mortgage. “We continue to introduce means to make the home preservation process easier for customers to manage. That includes improving upon and expanding the primary contact model we introduced in June 2010 so that a customer knows exactly who they are working with on a modification from beginning to end. We also continue to aggressively reach out to customers 60 or more days behind on their home loans via mail and telephone in an effort to engage them.”

Wells Fargo says that nearly half of the 58,000 customers that have attended one of the bank’s 31 Home Preservation Workshops or sought help at one of the 27 Home Preservation Centers around the country have received a decision on the spot or shortly after their visit.

The next Home Preservation Workshop is in Bellevue, Washington, on July 7 and 8, 2011. The event is being held at the Hyatt Regency Bellevue and will be open from 9:00 a.m. until 7:00 p.m. each day. The last day to register for this event is today.

Get more information here.

Tags: Wells Fargo, loan modifications, HAMP, low interest rates, reduced mortgage payments, refinancing, foreclosure, Home Preservation Workshops

Source:
Wells Fargo

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

July 5, 2011 (Jeff Alan)

Wells Fargo & Co. announced that since the beginning of 2009, they have initiated 687,047 active trial or completed loan modifications of which 585,213 were done through the company’s own loan modification programs and 101,834 that have been done through the federal government’s Home Affordable Modification Program (HAMP), a ratio of over 5 to 1.

Wells Fargo also reports that during that same time period over 2.7 million consumers have taken advantage of the historically low interest rates and reduced their mortgage payments through refinancing.

As of the first quarter of 2011, about 93 percent of Wells Fargo’s home loan customers have remained current on their mortgage payments, and in the last 12 months, less than 2 percent of the loans secured by owner-occupied homes serviced by Wells Fargo have resulted in foreclosure.

“Avoiding foreclosure is a top priority for us and when customers work with us, we can help 7 of every 10 to stay out of foreclosure,” said Teri Schrettenbrunner, senior vice president, Wells Fargo Home Mortgage. “We continue to introduce means to make the home preservation process easier for customers to manage. That includes improving upon and expanding the primary contact model we introduced in June 2010 so that a customer knows exactly who they are working with on a modification from beginning to end. We also continue to aggressively reach out to customers 60 or more days behind on their home loans via mail and telephone in an effort to engage them.”

Wells Fargo says that nearly half of the 58,000 customers that have attended one of the bank’s 31 Home Preservation Workshops or sought help at one of the 27 Home Preservation Centers around the country have received a decision on the spot or shortly after their visit.

The next Home Preservation Workshop is in Bellevue, Washington, on July 7 and 8, 2011. The event is being held at the Hyatt Regency Bellevue and will be open from 9:00 a.m. until 7:00 p.m. each day. The last day to register for this event is today.

Get more information here.

Tags: Wells Fargo, loan modifications, HAMP, low interest rates, reduced mortgage payments, refinancing, foreclosure, Home Preservation Workshops

Source:
Wells Fargo

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.