Wells Fargo: 8.7k Mortgage Loan Modifications in July
Wells Fargo: 8.7k Mortgage Loan Modifications in July
Wells Fargo: 8.7k Mortgage Loan Modifications in July
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September 6, 2011 (Jeff Alan)

Wells Fargo reports that 8,784 active trial or completed loan mortgage modifications were posted in July, down from 9,759 in June. As of July 31, 2011, Wells Fargo says it has completed or has in active trial 704,869 mortgage loan modifications since January 2009, up from 696,085 at the end of June.

Eighty-five percent of those loans, 599,465, were modified through the company’s own loan modification programs while the remaining 15 percent, 105,404, were modified through the federal government’s Home Affordable Modification Program (HAMP). Those percentages were unchanged from June.

Michael DeVito, executive vice president of Wells Fargo Home Mortgage Default Servicing, stated, “Wells Fargo continues to work with borrowers on mortgage modifications and other options that can help them remain in their homes and avoid foreclosure when they encounter financial difficulties. Our priority is to prevent as many foreclosures as possible by working with financially distressed customers – and we want them to know we are there to help them.”

Since January of 2009, Wells Fargo has helped more than 4.4 million homeowners obtain new low rate loans, either to purchase a home or to refinance their existing loan with 93 percent of its home loan customers remaining current on their mortgage payments as of the second quarter of 2011 and less than two percent of the loans in its portfolio proceeding to a foreclosure sale.

According to the latest information released in the Obama Administration’s August Housing Scorecard, Wells Fargo had the second highest amount of active HAMP modifications in the month of June, with only Bank of America having more.

Year-to-date among the top ten mortgage servicers in the country, Wells Fargo’s loan modification efforts under HAMP were only 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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September 6, 2011 (Jeff Alan)

Wells Fargo reports that 8,784 active trial or completed loan mortgage modifications were posted in July, down from 9,759 in June. As of July 31, 2011, Wells Fargo says it has completed or has in active trial 704,869 mortgage loan modifications since January 2009, up from 696,085 at the end of June.

Eighty-five percent of those loans, 599,465, were modified through the company’s own loan modification programs while the remaining 15 percent, 105,404, were modified through the federal government’s Home Affordable Modification Program (HAMP). Those percentages were unchanged from June.

Michael DeVito, executive vice president of Wells Fargo Home Mortgage Default Servicing, stated, “Wells Fargo continues to work with borrowers on mortgage modifications and other options that can help them remain in their homes and avoid foreclosure when they encounter financial difficulties. Our priority is to prevent as many foreclosures as possible by working with financially distressed customers – and we want them to know we are there to help them.”

Since January of 2009, Wells Fargo has helped more than 4.4 million homeowners obtain new low rate loans, either to purchase a home or to refinance their existing loan with 93 percent of its home loan customers remaining current on their mortgage payments as of the second quarter of 2011 and less than two percent of the loans in its portfolio proceeding to a foreclosure sale.

According to the latest information released in the Obama Administration’s August Housing Scorecard, Wells Fargo had the second highest amount of active HAMP modifications in the month of June, with only Bank of America having more.

Year-to-date among the top ten mortgage servicers in the country, Wells Fargo’s loan modification efforts under HAMP were only 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
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ADVANTAGES OF USING
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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.
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September 6, 2011 (Jeff Alan)

Wells Fargo reports that 8,784 active trial or completed loan mortgage modifications were posted in July, down from 9,759 in June. As of July 31, 2011, Wells Fargo says it has completed or has in active trial 704,869 mortgage loan modifications since January 2009, up from 696,085 at the end of June.

Eighty-five percent of those loans, 599,465, were modified through the company’s own loan modification programs while the remaining 15 percent, 105,404, were modified through the federal government’s Home Affordable Modification Program (HAMP). Those percentages were unchanged from June.

Michael DeVito, executive vice president of Wells Fargo Home Mortgage Default Servicing, stated, “Wells Fargo continues to work with borrowers on mortgage modifications and other options that can help them remain in their homes and avoid foreclosure when they encounter financial difficulties. Our priority is to prevent as many foreclosures as possible by working with financially distressed customers – and we want them to know we are there to help them.”

Since January of 2009, Wells Fargo has helped more than 4.4 million homeowners obtain new low rate loans, either to purchase a home or to refinance their existing loan with 93 percent of its home loan customers remaining current on their mortgage payments as of the second quarter of 2011 and less than two percent of the loans in its portfolio proceeding to a foreclosure sale.

According to the latest information released in the Obama Administration’s August Housing Scorecard, Wells Fargo had the second highest amount of active HAMP modifications in the month of June, with only Bank of America having more.

Year-to-date among the top ten mortgage servicers in the country, Wells Fargo’s loan modification efforts under HAMP were only 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.