By
November 21, 2011

The U.S. Conference of Mayors and Wells Fargo held an inaugural forum October 20 at the National Harbor near Washington (DC) as part of a national alliance focused on foreclosure prevention, property disposition, homeownership promotion and community development. More forums are being planned in 2012 when the Conference of Mayors and Wells Fargo will convene at cities throughout the country.

Alexandria (VA) Mayor William D. Euille 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 covered property preservation, real estate owned property, community development, and retail practices with Conference of Mayors officials, and toured the Wells Fargo Home Preservation Workshop at National Harbor in Maryland.

Euille commented, “I found the forum very worthwhile, educational, and inspirational. These forums are something that will benefit citizens across America. People are at-risk of losing their homes because of unemployment and under-employment. It’s a daunting challenge to stay on target with stabilizing communities and helping people stay in their homes.”

At the two-day home preservation workshop that was held at the same time as the forum with the Conference of Mayors, Wells Fargo met with more than 630 homeowners struggling with mortgage payments, among the 30,000 customers Wells Fargo has met with at 48 such company organized events in hard-hit markets across the country.

“For The U.S. Conference of Mayors, we intend to bring proven alternatives, technical capabilities, and educational materials – through our Leading the Way Home® effort – to help municipalities address the current housing crises in the cities they serve,” said Mary Coffin, executive vice president for servicing at Wells Fargo Home Mortgage.

Overall Wells Fargo has participated in nearly 600 home preservation events since 2009 throughout the country, and assisted 716,945 customers facing financial hardships through a trial or completed loan modification; 15 percent of which were under the federal government’s Home Affordable Modification Program (HAMP).

Wells Fargo Home Mortgage is the nation’s leading mortgage lender and services one of every six mortgage loans in the nation. From January 2009 through September 2011, Wells Fargo has helped nearly 4.7 million homeowners with new low-rate loans, either to purchase a home or refinance their existing mortgage.

Wells Fargo’s Leading the Way Home program is a national effort focused on foreclosure prevention, stabilizing communities and promoting sustainable homeownership through education. It is designed to help communities and customers understand and act on efforts to stabilize their current housing situation and build a strong community for the future.

For more information about The US Conference of Mayors alliance with Wells Fargo, including future forums, contact Gene Lowe, Assistant Executive Director with the Conference of Mayors at 202-861-6710 or send e-mail to glowe@usmayors.org.