Wells Fargo 2011 Annual Report Download - page 15

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Shornell Essex of DesMoines, Iowa, is
a member of that team, which means
her customers contact her and
13
only
her in working through an issue —
whether the likely outcome is a loan
modification, short sale, deed-in-lieu,
or (at last resort) foreclosure. “Now the
customer has a partner, an advocate,
and a ‘friend’ working with them from
start to finish,” she said. “It’s no longer
necessary to contact anyone else,
because I can assist with any issue,
even taking a payment.”
The team has completed nearly
50,000 modifications since the model
launched in July2011.
Another advantage of the individualized
approach: No one has to navigate phone
systems, send paperwork to multiple
departments, or feel as if they’re alone
in the process. Essex said part of what
she and other members of the Home
Preservation team do is help customers
understand their options so they are
prepared for what’s next in the process.
“I like being in constant contact so
no one is surprised,” she said. “So if I
notify a customer that an underwriting
decision has been made, I also use that
time to discuss options and answer
questions. The best calls are when
I’m able to tell someone who’s been
in financial distress that an issue has
been resolved and that brighter days
are ahead. Customers sometimes cry
and often tell me what a dierence this
makes in their lives.”
Shornell Essex, Des Moines, Iowa
$4.1 billion
Since the beginning of 2009
through the end of 2011,
WellsFargo has provided more
than $4.1billion in mortgage
principalreduction.
728,000+
Since the beginning of 2009
through the end of 2011, we’ve
completed more than 728,000
mortgage modifications that have
helped struggling homeowners
keep their homes.
1 in 4
We provide one out of every four
home mortgages and are the largest
servicer of mortgages intheU.S.