Wells Invites 13,000 to Chicago Loan Mod Event


Wells Fargo Co., the nation’s second largest servicer, has invited 13,000 customers to its two-day Chicago Home Preservation workshop scheduled for August 17-18 in the Windy City.

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Up to 200 Wells Fargo home retention specialists including bilingual representatives will work one-on-one with mortgagors. Wells hopes to offer customers several loan modification options on site or shortly following the workshop.

In a statement Wells says the workshop takes a preventive approach to both delinquency and foreclosure offering “homeowners facing payment challenges the opportunity to explore options available for them.”

The bank said it welcomes walk-ins, yet only registered borrowers who sign up online by Aug. 15 will be guaranteed a face-to-face meeting with a representative.

The event is Wells’ 36th  free Home Preservation Workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers in financial distress.

The servicer closed 696,805 active trial and completed modifications between January 2009 and June 2011, of which 85% were in-house modification programs and 15% through HAMP. Also, fewer than 2% of the loans secured by owner-occupied homes and serviced by Wells Fargo eventually went to a foreclosure sale in the past 12 months.

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