Wells Fargo provides over $4.4 billion in consumer relief, refinancing
Gives 123,000 modifications through National Mortgage Settlement
Wells Fargo (WF) reported consumer relief and refinance credits totaling $4.4 billion as of June 30, 2013, to the Office of Mortgage Settlement Oversight, the bank said in a press release.
As a whole, the bank committed to providing $4.3 billion in consumer relief and refinances for its customers.
The company will request credit for providing 123,000 modifications, refinances and other consumer debt relief options.
"The National Mortgage Settlement programs built on our prior consumer relief and refinance efforts, and we will continue our strong commitment to helping customers who face payment challenges or who want to refinance," said Michael DeVito, executive vice president for servicing at Wells Fargo Home Mortgage.
"That includes utilizing principal reduction through modifications where appropriate for customers facing financial hardships when they have Wells Fargo-owned loans that we also service," he added.