Houston to Get Help for Housing Market with Wells Fargo ‘NeighborhoodLIFT’ Homebuyer Event and Home Preservation Workshop

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Wells Fargo & Company (NYSE: WFC), one of America’s leading community

banks and the nation’s largest home mortgage lender, today announced

help coming for the Houston housing market with Wells Fargo’s fifth NeighborhoodLIFTSM

market, on May 11 and 12 at the George R. Brown Convention Center,

as it collaborates with officials from the City of Houston and

non-profit organizations on helping the city overcome the effects of the

country’s housing crisis. In addition, Wells Fargo will host its 62nd

Home Preservation Workshop, and second in Houston, at the Reliant Center

on May 17 to assist customers facing financial hardships with solutions

to avoid foreclosure.

The NeighborhoodLIFTSM program has been

designed to help communities attract qualified, prospective homebuyers

to neighborhoods struggling with high inventories of unsold homes. In

Houston, this will include a five-year goal of $3 billion in mortgage

purchase loans by Wells Fargo, and a $9 million investment the bank is

making this year for down payment assistance grants and homebuyer

support programs that help consumers achieve successful, sustainable

home ownership.

Wells Fargo chose Houston as its fifth market for the NeighborhoodLIFTSM

program based on the city’s high concentrations of homeowners,

foreclosures, delinquencies, and overall housing inventory. Similar

criteria resulted in Los Angeles, Atlanta, Phoenix, and Las Vegas

becoming the program’s first markets. Two-day NeighborhoodLIFTSM

events, held in each city in February and March, helped 893 prospective

homebuyers qualify for down payment assistance reservations totaling up

to more than $20 million.

“Though no one program will re-stabilize housing markets, the positive

reception of the NeighborhoodLIFT program in Los Angeles,

Atlanta, Phoenix, and Las Vegas encouraged us to expand this effort to

Houston,” said Jon Campbell, Wells Fargo’s head of Social

Responsibility. “As America’s largest mortgage lender, Wells Fargo knows

there are Americans who want to take advantage of today’s great home

values and historically low interest rates, but do not because of

barriers to home ownership, such as affording a down payment. We hope

this effort helps those aspiring to successful home ownership, and

communities seeking to recover from the worst housing downturn in a

generation.”

At the May 11 and 12 NeighborhoodLIFTSM event

in Houston, prospective homebuyers can participate in affordable home

tours of residential properties for sale in the city and will be able to

apply for down payment assistance grants of up to $15,000 administered

by NeighborWorks America affiliate, Avenue Community Development

Corporation, through grants from the Wells Fargo Foundation.

How to register for the NeighborhoodLIFTSM

event

Walk-ins are welcome, but registration is strongly recommended in order

to guarantee the ability to meet one-on-one with a representative.

Prospective homebuyers can sign-up to attend the event by Wednesday, May

9 at www.neighborhoodlift.com.

For more information call 1-866-858-2151.

Requirements for the NeighborhoodLIFTSM program

down payment assistance grants include income and owner-occupied home

specifications including not exceeding 120 percent of local median

income; an eight-hour homebuyer education session with the approved NeighborWorks

America affiliate; a commitment to stay in the home for five years

and qualification for a first mortgage on the property. Representatives

from Avenue Community Development Corporation and the City of Houston

will be on site to help with the processing of applications for grants

and other services.

“With the Houston economy beginning to show signs of positive change,

now is the perfect time for people to experience the American dream of

home ownership,” said Houston Mayor Annise Parker. “We are looking

forward to collaborating with Wells Fargo, NeighborWorks America,

and Avenue Community Development Corporation on this important

sustainable housing effort that will make that dream happen for hundreds

of families through down payment assistance and other educational

opportunities.”

“This is a tremendous commitment by Wells Fargo to support homeowners

and communities,” said Eileen Fitzgerald, chief executive officer of NeighborWorks

America, the national non-profit collaborating with Wells Fargo on NeighborhoodLIFTSM.

“This is the kind of public-private collaboration that can help

communities tackle difficult challenges and families realize their goal

of sustainable home ownership.”

Next Wells Fargo Home Preservation Workshop set for May 17 at the

Reliant Center

In addition to the Houston NeighborhoodLIFTSM

homebuyer event on May 11-12, Wells Fargo will host its 62nd

Home Preservation Workshop at the Reliant Center on Thursday, May 17

from 9 a.m. – 7 p.m. The upcoming workshop is for Wells Fargo Home

Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity customers

facing financial hardships. Wells Fargo held its first Houston Home

Preservation Workshop in November 2011 when the company’s home

preservation specialists met with 389 customers seeking assistance.

Wells Fargo has invited about 5,000 mortgage customers in the Houston

area to the free workshop. Parking is free.

How to register for Wells Fargo’s Houston Home Preservation Workshop

Walk-ins are welcome, but registration is strongly recommended in order

to guarantee the ability to meet one-on-one with a representative. Sign

up by Tuesday, May 15, at www.wfhmevents.com/leadingthewayhome.

For more information call 1-800-405-8067.

Helping Homeowners: Wells Fargo’s efforts to date

In addition to NeighborhoodLIFTSM

activities,

since January 2009, Wells Fargo has contributed to efforts to stabilize

housing markets through the following initiatives:

About NeighborhoodLIFTSM

The NeighborhoodLIFTSM program is a

collaboration between Wells Fargo Bank, N.A., Wells Fargo Foundation, NeighborWorks

America, an independent non-profit organization, and local

non-profit organizations. The NeighborhoodLIFTSM

program is designed to provide sustainable homeownership initiatives in

cities deeply affected by the housing crisis. A video about the

NeighborhoodLIFT program is posted at www.youtube.com/wellsfargo.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,

community-based financial services company with $1.3 trillion in assets.

Founded in 1852 and headquartered in San Francisco, Wells Fargo provides

banking, insurance, investments, mortgage, and consumer and commercial

finance through more than 9,000 stores, 12,000 ATMs, the Internet

(wellsfargo.com), and other distribution channels across North America

and internationally. With more than 272,000 team members, Wells Fargo

serves one in three households in America. Wells Fargo & Company was

ranked No. 23 on Fortune’s 2011 rankings of America’s largest

corporations. Wells Fargo’s vision is to satisfy all our customers’

financial needs and help them succeed financially.