Wells Fargo Home Mortgage Servicing
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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