TELLURIDE, Sept. 24, 4:20 p.m. – With the housing and real estate lending industries frequently in the news as of late, many realtors and their clients may find themselves with questions and concerns about the availability of mortgage financing. Dave Ramirez, home mortgage consultant for Wells Fargo Home Mortgage, said reliable options are still available for new residential mortgages and home equity loans.

“We continue to welcome a growing number of customers who seek a sound, responsible mortgage and home equity lender and servicer, and we continue to be one of the industry leaders in providing high-quality products and services,” said Ramirez.

According to Ramirez, a number of factors position Wells Fargo to succeed in the current environment.

“Wells Fargo is a well-capitalized, diversified financial services company with 84 businesses,” said Ramirez. “Our capital and diversity of businesses give us the flexibility and stability many lenders don’t have.”

Wells Fargo prudently manages credit risk on home mortgages and home equity loans with solid underwriting and sound business practices. The company does not make, purchase or service negative amortizing mortgages, including option adjustable-rate mortgages, some of the types of loans that are currently the subject of much scrutiny.

“As a result of our prudent risk management and responsible lending and servicing practices, and our diversity of businesses across virtually all financial services, we are not facing many of the issues others are in the mortgage industry,” said Ramirez. “Our real estate lending businesses made tough decisions years ago to forego some market share and live by our fair and responsible lending and servicing principles. That choice has proven to be the right thing to do.”

Historically, Wells Fargo’s foreclosure rates have been below the industry average.

“While some of that can be attributed to prudent underwriting standards at loan origination, our mortgage servicing team works hard to keep customers in their homes when they experience financial difficulties,” said Ramirez. “We proactively contact customers in default and work with them case-by-case on potential solutions based on their personal financial circumstances. At a time when adjustable-rate mortgages are resetting at a higher rate, we have expanded our efforts to assist customers.”

Wells Fargo’s approach to real estate lending provides significant benefits to real estate professionals who are trying to help their clients navigate the current market.

“We’re committed to serving the needs of realtors and builders with numerous programs, including closing guarantees,” said Ramirez. “We continue to be a reliable lender that offers competitive pricing for consumers.”

As a division of Wells Fargo Bank, N.A., it has a local presence in more than 2,400 mortgage stores and bank branches, plus the capabilities to serve the home financing needs of customers nationwide through its call centers, Internet presence and wholesale lending operations. Wells Fargo Home Mortgage services loans for more than 7.8 million servicing customers.