Wells Fargo Mortgage

More than 150 years ago, Henry Wells and William G. Fargo had a dream. They imagined a company that would become the face of American banking. The beginning of that dream was the Wells Fargo Mortgage Company - a bank trading only in gold. Today, Wells Fargo is one of the premier names in the banking, finance and mortgage industry and the company deals in everything from gold to online banking transactions.

Most people are familiar with the early days of Wells Fargo when the company was not only a bank. In those days, the company was arguably best known for their business endeavors as a stagecoach company. The Wells Fargo stages transported gold - the first transport company of its kind. And the company's firsts didn't stop with gold. A lesser-known fact is that the Wells Fargo Company was also the first to start the mass transportation of buster and other perishables.

Today, Wells Fargo Mortgage is one of the most respected home lenders. One of every eleven home is funded by Wells Fargo Mortgage. This company service people through its stores in all 50 states. Roughly 20 percent of the Wells Fargo Mortgage business is diversified in this home lending sector.

Diversity is the name of the game, and Wells Fargo Mortgage has joined with PMI Mortgage Insurance Co. to create home ownership opportunities for Native Americans living on and off reservations across the country. This is the widest effort being made to bring home ownership to low income and middle income Americans.

Another joint effort was created by Wells Fargo Bank and Phoenix LISC. These two companies have created a $250,000 down payment assistance fund for low and moderate-income families in the Phoenix area. The program is aimed at community development and the process is simple – provide funds to help with down payments and closing costs. It can be argued that the initial expenses of the down payment and closing a loan are the main thing that prevents many from owning a home. This program is aimed at eliminating that barrier.

Flexible Mortgage Financing

The Wells Fargo Home Mortgage can provide affordable mortgage financing with flexible underwriting for qualified borrowers. One point of that flexibility is the acceptance of non-traditional credit references and other credit challenges. The result is that homebuyers may obtain mortgages that require zero cash from the buyers own funds.

HUD Initiatives

Wells Fargo Home Mortgage has been at the top of HUD loans through the Department of Housing and Urban Development's section 184 guaranteed Indian mortgages. Wells Fargo has an Indian outreach effort, located in Pierre. Also, a unit of the San Francisco-based Wells Fargo Bank N.A., Wells Fargo Home Mortgage reports closing more than $20 million in mortgage financing every year.

Wells Fargo Housing Foundation

The Wells Fargo Housing Foundation (WFHF) provides resources to nonprofit organizations to meet the homeownership needs of low and moderate-income individuals and families. The efforts include a Homeownership Grant Program that can provide support for nonprofit housing organizations in communities across the nations, especially in those areas where Wells Fargo provides products and services. They give grants of $10,000.

In general, the Wells Fargo Mortgage Company offers reliable and trusted home mortgages and services to Americans. Services including mortgage and finance management and an information system designed to keep customers updated on the latest Wells Fargo news and information.