Testimony of
Alan Jones
Operations Manager
Wells Fargo Home Mortgage Servicing
Before the
Subcommittee on Housing and Community Opportunity House Financial Services Committee
U.S. House of Representatives
November 18, 2010

As a company, Wells Fargo has followed three fundamental tenets:

• First, we view foreclosure as a measure of last resort. In unfortunate cases where a customer simply cannot afford the property, even with a modification, we actively look at other remedies – such as short sales – to prevent foreclosure and protect the surrounding community.
  

• Second, we hold ourselves accountable for the quality of our foreclosure data and we work to ensure our borrowers are protected from wrongful foreclosures.
  

• And third, we understand the necessity of having procedures that ensure our documents comply with industry regulations, as well as federal and state laws.

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