Wells Fargo Bank Commits up to $250,000 for ClearPoint Credit Counseling Solutions to Help Struggling Homeowners Facing Financial Challenges

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ClearPoint Credit Counseling Solutions to participate in Wells Fargo effort to extend home preservation services to help homeowners with comprehensive counseling

ClearPoint Credit Counseling Solutions

By way of this relationship, ClearPoint will be able to offer personalized counseling to help bring relief to homeowners in distress nationwide.

ClearPoint Credit Counseling Solutions (CCCS) announced today that Wells Fargo, America’s largest mortgage lender, is committing up to $250,000 to ClearPoint to provide in-person and telephone counseling and assistance to its customers including applying for mortgage modifications.

“Preservation of home ownership is the focus of this collaboration between ClearPoint and Wells Fargo ,” said Chris Honenberger, ClearPoint president and CEO. “By way of this relationship, ClearPoint will be able to offer personalized counseling to help bring relief to homeowners in distress nationwide.”

With the collaborative effort, Wells Fargo has approved ClearPoint to help extend home preservation services to Wells Fargo mortgage customers through comprehensive credit counseling and mortgage payment assistance. The program provides a Web-enabled portal for counselors to transmit the necessary documents required to successfully provide assistance to customers with mortgage modifications.

“Wells Fargo believes in the critical role HUD-approved housing counselors like ClearPoint have in assisting homeowners facing mortgage payment challenges,” said Joe Ohayon, SVP and Wells Fargo Home Mortgage Servicing Community and Client Relations. “This collaborative effort is another example of Wells Fargo’s commitment to help customers stay in their homes.”

As part of the effort, ClearPoint staff or volunteer professional will provide comprehensive mortgage counseling, loss mitigation assistance, and help with refinancing. Wells Fargo mortgage customers facing foreclosure are encouraged to apply for assistance by calling a HUD-approved counselor at 877-877-1995 or visiting http://www.clearpointccs.org.

Wells Fargo customers can also receive assistance directly from Wells Fargo Home Mortgage by calling Servicing at 800-678-7986, on the Web at http://www.wellsfargo.com/homeassist/, and at Wells Fargo Home Preservation Workshops (a schedule is posted at http://www.wfhmevents.com/leadingthewayhome). From January 2009 through November 2011, Wells Fargo has conducted 724,710 active trial or completed mortgage modifications in its servicing portfolio. According to Wells Fargo executives, over the last 12 months, less than 2 percent of the owner-occupied mortgage loans in the company’s servicing portfolio resulted in a foreclosure sale.

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