Wells Fargo Launches Multi-Faceted Homebuyers Program to Assist Diverse Segments Nation's Leading Retail Mortgage Lender Joins with Real Estate Professionals to Help Consumers through Pre- and Post-Closing Education and Guaranteed Closings DES MOINES, Iowa, April 17 /PRNewswire-HISPANIC PR WIRE/ -- Wells Fargo Home Mortgage held a live simulcast today for thousands of real estate professionals to launch the company's 2008 outreach efforts to all consumers and focused its first forum on serving the needs of first-time homebuyers, low- to moderate- income and multi-cultural consumers. The company also announced further improvements in its credit education and closing guarantee programs. Wells Fargo beamed the free simulcast -- "Meeting the Market Challenge in 2008: Helping Homebuyers Make Informed Decisions" -- to 50 multiplex theaters across the nation. The National Association of Hispanic Real Estate Professionals (NAHREP), National Association of Real Estate Brokers (REALTISTS), and the Asian Real Estate Association of America (AREAA) joined the effort. Our company has a long history of being there for our customers by responsibly making homeownership possible in any market cycle "Our company has a long history of being there for our customers by responsibly making homeownership possible in any market cycle," said Cara Heiden, co-president of Wells Fargo Home Mortgage. "The current market requires that we further boost our efforts and that includes a focus on outreach to the diverse segments of our customer base." "AREAA is proud to team up with Wells Fargo and our real estate partners to expand homeownership opportunities for all those who seek the American Dream," said Jim Park, AREAA president and CEO. "In this time of uncertainty and turmoil in the mortgage market, we believe it is more important than ever to demonstrate this type of leadership and lending innovation." "NAREB welcomes Wells Fargo's leadership in its efforts to equip real estate professionals with information that better prepares them to help achieve sustainable homeownership for all consumers. We are particularly proud to join with Wells Fargo to ensure that the African American homebuyer is being serviced at the highest of ethical and credible levels," said Maria Kong, NAREB's president. "Wells Fargo recognizes that Latinos are the largest ethnic segment in the U.S., and has responded by providing bilingual and culturally-specific materials to consumers, as well as important informational programs such as today's forum," said Rebecca Gallardo-Serrano, NAHREP's chairman. At the forum, Wells Fargo spoke with real estate professionals about the state of the current market and how customers can best be helped. The company also announced its groundbreaking Wells Fargo Closing Guarantee(SM) and Steps to Success(SM) programs would be expanded to be more inclusive. The Wells Fargo Closing Guarantee(SM) -- formerly offered to customers financing the purchase of existing real estate using standard products, has been expanded to include all qualified purchase products including those for new construction. The guarantee states that Wells Fargo will close a customer's loan on or before the closing date stated in the original purchase contract or will refund the borrower an amount equal to the first month's principal and interest payment. In the current environment, it is important for buyers, sellers, and their real estate agents to know that the loan will close and will close on time. Steps To Success(SM) -- is a free, bilingual credit management program that will be expanded in early summer to include all first-time homebuyers and FHA customers. The program provides financial education, access to automatic mortgage payment options, and information about banking products that can help make money management routine and effective. For all program participants, our goal is to be proactive in helping them improve or maintain their own financial situation. Wells Fargo Home Mortgage is the nation's No. 1 retail mortgage lender and servicer of home mortgages. As a division of Wells Fargo Bank, N.A., it has a local presence in more than 2,300 mortgage stores and banking stores, and serves customers nationwide through its call centers, Internet presence and wholesale lending operations. Wells Fargo Home Mortgage services loans for 7.9 million customers.
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