Wells Fargo: 5k Active Trial or Completed Loan Modifications in October
Wells Fargo: 5k Active Trial or Completed Loan Modifications in October
Wells Fargo: 5k Active Trial or Completed Loan Modifications in October
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December 9, 2011 (Jeff Alan)

As of October 31, 2011, Wells Fargo reports it has in active trial or has completed 721,116 mortgage loan modifications since its mortgage relief efforts began in January 2009, up from 716,176 at the end of September.

About 84 percent of those loans, 609,148, were modified through the company’s own loan modification programs while the remaining 16 percent, 111,968, were modified through the federal government’s Home Affordable Modification Program (HAMP).

Ninety-two percent of Wells Fargo’s loan customers remained current on their home loans in the third quarter of this year and less than two percent of the owner-occupied loans in their mortgage servicing portfolio has resulted in a foreclosure sale over the last year.

Wells Fargo says they were able to provide nearly three out of every four of their customers who fell more than 60 days behind on their mortgage payments with an option that prevents foreclosure.

According to the latest information released in the Obama Administration’s November Housing Scorecard, Wells Fargo had the third highest amount of HAMP trial modifications in the month of October behind J.P. Morgan Chase and Bank of America.

Year-to-date, among the top ten mortgage servicers in the country, Wells Fargo’s loan modification efforts under HAMP have only been surpassed by Bank of America and J.P. Morgan Chase.

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

Source:
Wells Fargo

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December 9, 2011 (Jeff Alan)

As of October 31, 2011, Wells Fargo reports it has in active trial or has completed 721,116 mortgage loan modifications since its mortgage relief efforts began in January 2009, up from 716,176 at the end of September.

About 84 percent of those loans, 609,148, were modified through the company’s own loan modification programs while the remaining 16 percent, 111,968, were modified through the federal government’s Home Affordable Modification Program (HAMP).

Ninety-two percent of Wells Fargo’s loan customers remained current on their home loans in the third quarter of this year and less than two percent of the owner-occupied loans in their mortgage servicing portfolio has resulted in a foreclosure sale over the last year.

Wells Fargo says they were able to provide nearly three out of every four of their customers who fell more than 60 days behind on their mortgage payments with an option that prevents foreclosure.

According to the latest information released in the Obama Administration’s November Housing Scorecard, Wells Fargo had the third highest amount of HAMP trial modifications in the month of October behind J.P. Morgan Chase and Bank of America.

Year-to-date, among the top ten mortgage servicers in the country, Wells Fargo’s loan modification efforts under HAMP have only been surpassed by Bank of America and J.P. Morgan Chase.

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

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 LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
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.
Helpful Tools

December 9, 2011 (Jeff Alan)

As of October 31, 2011, Wells Fargo reports it has in active trial or has completed 721,116 mortgage loan modifications since its mortgage relief efforts began in January 2009, up from 716,176 at the end of September.

About 84 percent of those loans, 609,148, were modified through the company’s own loan modification programs while the remaining 16 percent, 111,968, were modified through the federal government’s Home Affordable Modification Program (HAMP).

Ninety-two percent of Wells Fargo’s loan customers remained current on their home loans in the third quarter of this year and less than two percent of the owner-occupied loans in their mortgage servicing portfolio has resulted in a foreclosure sale over the last year.

Wells Fargo says they were able to provide nearly three out of every four of their customers who fell more than 60 days behind on their mortgage payments with an option that prevents foreclosure.

According to the latest information released in the Obama Administration’s November Housing Scorecard, Wells Fargo had the third highest amount of HAMP trial modifications in the month of October behind J.P. Morgan Chase and Bank of America.

Year-to-date, among the top ten mortgage servicers in the country, Wells Fargo’s loan modification efforts under HAMP have only been surpassed by Bank of America and J.P. Morgan Chase.

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

Source:
Wells Fargo

HOW LOANRATENETWORK
LOAN CENTER 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 LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
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.