September 17, 2012

The U.S. Conference of Mayors and Wells Fargo convened in Secaucus (NJ) in August for the third time as part of a national alliance focused on foreclosure prevention, property disposition, homeownership and community development.

Mayors and staff representing a dozen cities in New Jersey and Conference of Mayors staff joined Wells Fargo industry experts to discuss efforts and strategies to address housing challenges in local municipalities. Wells Fargo executives reviewed property preservation, real estate owned, community development, and retail practices with the Conference of Mayors officials and toured the Wells Fargo Home Preservation Workshop in Secaucus.

“This was a very informative session and a positive step,” said Irvington Mayor Wayne Smith. “We expressed concerns on behalf of our constituents and learned more about Wells Fargo’s efforts. It also gave us the opportunity to discuss ways we can work together that can bring vital solutions forward for our community that are beneficial for everyone.”

That discussion included how, as a result of the housing crisis, several cities are struggling with a troublesome trend of homes being abandoned. In communities large and small – from Secaucus to Hillsboro (OR) and in states across the country from Florida to Ohio – concerns are being raised about how to minimize risks abandoned properties can cause in neighborhoods that have been deeply affected by the economy.

For instance, in typically tranquil Hillsboro, located a few miles outside of Portland, local authorities recently responded to concerns after a home was abandoned and had become an eyesore in the neighborhood. Litter was strewn across the yard and the home’s walls were covered with graffiti by vandals. Hillsboro police department researched the property, and although vacant, discovered the mortgage was serviced by Wells Fargo Home Mortgage.

Wells Fargo Home Mortgage’s property preservation specialists quickly responded to clean-up the property, secure an open shed, and inform the police department the work was done. Hillsboro police department officials inspected the property shortly afterwards and advised Wells Fargo officials that, “The property has never looked better. Thank you for your prompt action.”

Wells Fargo is taking a proactive approach to maintain abandoned properties. As a resource to the Conference of Mayors, Wells Fargo is sending information to thousands of mayors, code enforcement officials and others representing municipalities across the country to inform them how to contact Wells Fargo should there be concerns about a Wells Fargo mortgage serviced property.

“We care about maintaining properties and neighborhoods,” said Sherilee Massier, vice president with Wells Fargo Home Mortgage’s Property Preservation Department. “We service and regularly inspect and maintain our vacant properties. Additionally, we have a dedicated code violation team to assist the Conference of Mayors and local Code Enforcement officials with property condition concerns.”

Wells Fargo Home Mortgage is sending letters to mayors and key leaders such as code enforcement officials to make sure they know how to contact Wells Fargo should there be concerns about an abandoned property in their communities.

“We are mailing these letters so mayors and local code enforcement officials know how to directly contact Wells Fargo for help,” said Massier. “While we continue to have eyes on properties and regularly maintain them, we take these matters seriously and would like officials to contact Wells Fargo if they have concerns about any Wells Fargo Home Mortgage'serviced properties if they feel there is a risk for code violations, there are emergencies or other issues with the properties.”

Officials may contact the Wells Fargo Home Mortgage Property Preservation Department by calling toll free at (877) 617-5274 or by email at codeviolations@wellsfargo.com.

“Our Wells Fargo Home Mortgage Property Preservation Department can be contacted seven days a week,” said Massier.

“Locally, we know vacancy of homes is a problem,” said Edison Mayor Antonia Ricigliano. “We appreciate Wells Fargo being a resource and showing us how they are taking care of problems before the mayor is called. We are starting to see an uptick in things getting better, but we know there are more struggles ahead. This forum was extremely productive and informative. If we can work on tackling such problems together it’s good for the community.”

At a home preservation workshop that was held at the same time as the Secaucus forum with the Conference of Mayors, Wells Fargo met with 652 homeowners struggling with mortgage payments, among the nearly 38,000 customers Wells Fargo has met with at 72 such workshops since 2009 through August in cities deeply affected by the housing crisis.

“We don’t want to see our constituents fall behind,” said Piscataway Mayor Brian C. Wahler. “Anytime we can expedite getting information out to residents in our communities that can help them it’s a good thing.”

Wells Fargo customers facing mortgage payment challenges can visit the website www.wellsfargo.com/homeassist/ or call 800-678-7986 to work with Wells Fargo to explore options that may be available to help them avoid foreclosure.