Wells Fargo Announces Efforts to Keep People Housed in Response to COVID-19
May 14 2020 - 4:35PM
Business Wire
Wells Fargo Foundation housing philanthropy grants to help more
than 100,000 renters and homeowners stay in their homes
Wells Fargo & Company (NYSE: WFC) today announced additional
efforts to help people stay in their homes with funding for more
than 500 nonprofits across the U.S., as part of the Wells Fargo
Foundation’s $175 million commitment to assist people and
communities in response to COVID-19. More than 300 grants have
already been made since March to help nonprofits provide urgent
housing services for vulnerable populations.
“Wells Fargo continues to take steps to support our customers,
employees and communities in the wake of the COVID-19 pandemic,”
said Bill Daley, vice chairman of Public Affairs at Wells Fargo.
“These grants for nonprofits across the U.S. will provide a
critical safety net to help keep people housed and are part of our
philanthropic focus to bring solutions to address housing security,
small business stability, and consumer financial health.”
The COVID-19 relief grants from the Wells Fargo Foundation are
intended to enable national nonprofit housing intermediaries, local
housing counselors, and nonprofit housing providers to support
housing stability for more than 100,000 renters and homeowners
across the U.S. facing financial challenges. Strategies include
expanding the capacity of housing counselors to respond to renters
and homeowners as well as supporting nonprofits that provide
affordable rental homes and services.
“Wells Fargo is committed to the importance of home for everyone
in our nation,” said Eileen Fitzgerald, head of housing
affordability philanthropy with the Wells Fargo Foundation. “Having
a safe, healthy and affordable place to call home is essential to
help lay the foundation for wellness, dignity and economic
opportunity. In response to the COVID-19 crisis, as far too many
people are facing housing instability, these grants will support
hundreds of nonprofit professionals and their organizations whose
missions are to keep people in their homes and create opportunities
to have a home.”
The most recent COVID-19 housing grants will provide more than a
dozen national nonprofit housing intermediaries with grant funding
to support counseling and to help keep people in stable housing.
Organization include:
- Enterprise Community Partners
- GreenPath Financial Wellness
- HomeFree-USA
- Housing Partnership Network
- National Coalition for Asian Pacific American Community
Development
- National Community Reinvestment Coalition
- National Foundation for Credit Counseling®
- National Urban League
- Navicore Solutions
- NID Housing
- NeighborWorks® America
- Rural Community Assistance Corporation
- UnidosUS
- USA Homeownership Foundation DBA Veterans Association of Real
Estate Professionals
Meeting Customer Needs
Wells Fargo continues to put measures in place to support the
needs of homeowners impacted by COVID-19. The company has suspended
all foreclosure activity and evictions for mortgage and home equity
customers and is offering a three-month payment suspension for any
Wells Fargo Home Lending mortgage or home equity customer who
requests assistance. This includes customers with owner-occupied
homes as well as investors who own single-family or 2-4 unit rental
properties. Customers who contact Wells Fargo and obtain a payment
suspension won’t have past-due status reported to the consumer
reporting agencies and won’t be charged late fees during the
suspension period.
In addition to supporting mortgage and home equity customers,
Wells Fargo also has stopped involuntary automobile repossessions,
and is offering fee waivers, payment deferrals and other expanded
assistance for credit card, auto, small business, and personal
lending customers who contact the company. Wells Fargo customers
can learn more about assistance options available at
www.wellsfargo.com/coronavirus.
From early March to early April, the company deferred payments
and waived fees for more than 1.3 million consumer and small
business customers. This included deferring more than 1 million
payments for a total of approximately $3 billion in principal and
interest.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.98 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investment, and mortgage products and services, as well as consumer
and commercial finance, through 7,400 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 31 countries and territories to support customers who
conduct business in the global economy. With approximately 263,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 29 on
Fortune’s 2019 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com |
Twitter: @WellsFargo.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200514005863/en/
Media Chris Hammond, 415-310-9152
Chris.L.Hammond@wellsfargo.com @ChrisHammondWF
(or)
Stephanie Grant, 760-317-6505 Stephanie.Grant2@wellsfargo.com
@SGrantWF
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Apr 2024 to May 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From May 2023 to May 2024