You're Now Reading:
Wells Fargo Reports Almost 10K Trial and Completed Mods in June
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Wells Fargo Reports Almost 10K Trial and Completed Mods in June
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 Reports Almost 10K Trial and Completed Mods in June
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

August 8, 2011 (Jeff Alan)

Wells Fargo reports that 9,759 active trial or completed loan mortgage modifications were posted in the month of June. As of June 31, 2011, Wells Fargo says it has completed or has in active trial, 696,085 mortgage loan modifications since 2009.

Eighty-five percent of those loans, 591,941, were modified through the company’s own loan modification programs while the remaining 15 percent, 104,864, were modified through the federal government’s Home Affordable Modification Program (HAMP).

“Wells Fargo is committed to working with borrowers to help identify all available options that may help borrowers retain their home or avoid foreclosure,” said Michael DeVito, with Wells Fargo Home Mortgage Default Servicing. “To support that commitment, we are in the process of expanding the one-on-one customer contact model we initiated with loan modifications in June 2010 so that borrowers will move through all phases of loss mitigation with one dedicated home preservation specialist.”

Since January of 2009, Wells Fargo says it has helped more than 4.3 million homeowners obtain new low rate loans, either to purchase a home or to refinance their existing loan.

Wells Fargo also says that over the last 12 months less than two percent of the loans in its portfolio have proceeded to a foreclosure sale and that 93 percent of its home loan customers are current on their mortgage payments as of the second quarter of 2011.

Part of Wells Fargo’s success can be attributed to the Home Preservations Workshops that it hosts throughout the country. So far, Wells Fargo has helped over 23,000 borrowers at 35 events with their financial challenges.

The next Home Preservations Workshop will be held in Chicago on August 17th and 18th, with 12 additional workshops scheduled to follow.

Tags: Wells Fargo, trial modification, completed modifications, loan modifications, HAMP, borrowers, 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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

August 8, 2011 (Jeff Alan)

Wells Fargo reports that 9,759 active trial or completed loan mortgage modifications were posted in the month of June. As of June 31, 2011, Wells Fargo says it has completed or has in active trial, 696,085 mortgage loan modifications since 2009.

Eighty-five percent of those loans, 591,941, were modified through the company’s own loan modification programs while the remaining 15 percent, 104,864, were modified through the federal government’s Home Affordable Modification Program (HAMP).

“Wells Fargo is committed to working with borrowers to help identify all available options that may help borrowers retain their home or avoid foreclosure,” said Michael DeVito, with Wells Fargo Home Mortgage Default Servicing. “To support that commitment, we are in the process of expanding the one-on-one customer contact model we initiated with loan modifications in June 2010 so that borrowers will move through all phases of loss mitigation with one dedicated home preservation specialist.”

Since January of 2009, Wells Fargo says it has helped more than 4.3 million homeowners obtain new low rate loans, either to purchase a home or to refinance their existing loan.

Wells Fargo also says that over the last 12 months less than two percent of the loans in its portfolio have proceeded to a foreclosure sale and that 93 percent of its home loan customers are current on their mortgage payments as of the second quarter of 2011.

Part of Wells Fargo’s success can be attributed to the Home Preservations Workshops that it hosts throughout the country. So far, Wells Fargo has helped over 23,000 borrowers at 35 events with their financial challenges.

The next Home Preservations Workshop will be held in Chicago on August 17th and 18th, with 12 additional workshops scheduled to follow.

Tags: Wells Fargo, trial modification, completed modifications, loan modifications, HAMP, borrowers, 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.

August 8, 2011 (Jeff Alan)

Wells Fargo reports that 9,759 active trial or completed loan mortgage modifications were posted in the month of June. As of June 31, 2011, Wells Fargo says it has completed or has in active trial, 696,085 mortgage loan modifications since 2009.

Eighty-five percent of those loans, 591,941, were modified through the company’s own loan modification programs while the remaining 15 percent, 104,864, were modified through the federal government’s Home Affordable Modification Program (HAMP).

“Wells Fargo is committed to working with borrowers to help identify all available options that may help borrowers retain their home or avoid foreclosure,” said Michael DeVito, with Wells Fargo Home Mortgage Default Servicing. “To support that commitment, we are in the process of expanding the one-on-one customer contact model we initiated with loan modifications in June 2010 so that borrowers will move through all phases of loss mitigation with one dedicated home preservation specialist.”

Since January of 2009, Wells Fargo says it has helped more than 4.3 million homeowners obtain new low rate loans, either to purchase a home or to refinance their existing loan.

Wells Fargo also says that over the last 12 months less than two percent of the loans in its portfolio have proceeded to a foreclosure sale and that 93 percent of its home loan customers are current on their mortgage payments as of the second quarter of 2011.

Part of Wells Fargo’s success can be attributed to the Home Preservations Workshops that it hosts throughout the country. So far, Wells Fargo has helped over 23,000 borrowers at 35 events with their financial challenges.

The next Home Preservations Workshop will be held in Chicago on August 17th and 18th, with 12 additional workshops scheduled to follow.

Tags: Wells Fargo, trial modification, completed modifications, loan modifications, HAMP, borrowers, 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.