Wells Fargo Nearly Doubles Use of Federal Home Affordable Modifications

62,989 Home Affordable Modifications Done Under U.S. Program Through Sept. 30;
Total of 354,994 Trial and Completed Modifications Done in 2009

DES MOINES, Iowa--(Business Wire)--
Wells Fargo & Company (NYSE:WFC) said today that it has done 62,989trial and
completed Home Affordable Modifications through Sept. 30; nearly double what the
U.S. Treasury reported last month. Also, using its own programs, Wells Fargo has
done 292,005 trial and completed home loan modifications.

This brings the total number of modifications Wells Fargo has done this year to
354,994; a 25 percent increase over last month. In addition, the company has
refinanced about 987,000 mortgage loans, thereby assisting more than 1.3 million
households this year with mortgage payment relief.

"To help Americans coping with this tough economy, we continue to work hard at
keeping people in their homes," said Mike Heid, co-president of Wells Fargo Home
Mortgage. "We have remained focused on exceeding our share of the government`s
goal to reach 500,000 Home Affordable Modifications by Nov. 1. Using HAMP and
our own programs, there is still much work ahead to preserve homeownership and
to further reduce the number of foreclosed properties on the market."

Heid said the company works with customers directly to move a modification from
the trial stage to completion. HAMP, for instance, requires that during the
trial period the customer must make three payments at the new reduced rate and
submit documents necessary to complete the transaction. Given the high volume of
customers that have entered into HAMP in the past few months, the government has
worked to streamline the documents required for the program and Wells Fargo has
continued to improve its customer communication and document processing
practices.

As reported by Inside Mortgage Finance on Aug. 21, 2009, Wells Fargo`s total
delinquency rate, including foreclosures, continued to be significantly below
the industry average and the lowest of the nation`s largest mortgage servicers.
In the second quarter of 2009, about 92 percent of the company`s mortgage
customers remained current on their home payments.

About Wells Fargo

Wells Fargo Home Mortgage is the nation`s leading mortgage lender and services
one of every six mortgage loans in the nation. A division of Wells Fargo Bank,
N.A., it has a national presence in mortgage stores and banking stores, and also
serves the home financing needs of customers nationwide through its call
centers, Internet presence and third-party production channels.

Wells Fargo & Company is a diversified financial services company with $1.3
trillion in assets, providing banking, insurance, investments, mortgage and
consumer finance through more than 10,000 stores and 12,000 ATMs and the
internet (wellsfargo.com) across North American and internationally.

Wells Fargo
Kevin Waetke, 515-213-5960 (Media)
Jim Rowe, 415-396-8216 (Investors)

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