Skip to main content

Wells Fargo Reports 664,195 Active Trial and Completed Loan Mods
May 06, 2011

Wells Fargo has reported today it had 664,195 loans in active trial or completed mortgage modifications as of March 31, 2011. Eighty-six percent, or 568,548, were through Wells Fargo’s own modification programs. Modifications done through the federal government’s Home Affordable Modification Program (HAMP) totaled 95,647. “We continue to see declines in the number of our customers who are defaulting on their home loans,” said Teri Schrettenbrunner, senior vice president of Wells Fargo Home Mortgage communications. “Only 7.22 percent of all first mortgage and home equity loans serviced by the company—including loans originated by Wells Fargo and those originated by other lenders—were past due or in foreclosure in the first quarter of 2011. That is down from a peak of 8.96 percent in the fourth quarter of 2009 and from 8.02 percent in the fourth quarter of 2010.” For customers who are 60 days or more past due who choose to work with the company, Wells Fargo has been able to help seven of every 10 to avoid foreclosure. Fewer than two percent of the loans secured by owner-occupied homes and serviced by Wells Fargo proceeded to a foreclosure sale in the last 12 months.
May 06, 2011
Fidelity National Financial Hit By Cyberattack

Industry-leading provider of title insurance and settlement services radio silent on reported breach.

Nov 28, 2023
Citizens Bank Bids Farewell To Wholesale Mortgage Channel

In a strategic pivot, the Providence-based banking giant will stop accepting new wholesale mortgage submissions.

Nov 16, 2023
Surprising Surge In Mortgage Customer Satisfaction, J.D. Power Study Reveals

Study found first-time homebuyers were harder to satisfy, customers don't just shop rates.

Nov 16, 2023
Women Continue To Defy Homebuying Challenges, Representing 22% Of The Market, Survey Finds

Young, educated, diverse, and increasingly savvy, women homebuyers navigate homeownership hurdles with determination.

Nov 15, 2023 Stays Bullish On Industry Disruption Amid Q3 Losses

Despite a $340 million Q3 loss,'s leadership emphasizes cost reductions, automation, and investment in technology.

Nov 15, 2023
Fannie Mae Extends Rent Payment Pilot

Positive Rent Payment program offers financial stability and opportunities.

Nov 14, 2023