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WELLS FARGO BANK NA

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Wells Fargo Bank Na: Profile

Wells Fargo was founded on March 18, 1852 in New York City by Henry Wells, William G. Fargo, and associates. Today, Wells Fargo has grown into a diversified financial services company that provides banking, insurance, investments, mortgage and consumer finance services to customers across North America and internationally. Well Fargo is headquartered in San Francisco, California.

In 2005, Wells Fargo was the number two originator and number two servicer of home mortgages. Wells Fargo claims to finance one of every fourteen homes financed annually in the United States. As of year-end 2005, Wells Fargo had originated $380 worth of home loans (Inside Mortgage Finance). By mid-2006, they were servicing $1.05 trillion worth of mortgages (Inside Mortgage Finance). Some other interesting facts about Wells Fargo's mortgage business include:

  • In the period 2001 to 2005, Wells Fargo was the number one originator of home loans to minority borrowers in the United States
  • In the period 2001 to 2005, Wells Fargo was the number one originator of home loans to low- to moderate-income borrowers, and borrowers in low- to moderate-income neighborhoods in the United States
  • Wells Fargo is the number 1 retail originator of reverse mortgages

Wells Fargo Bank Na: Notable

Wells Fargo Bank Na is a HUD-approved lender (US Department of Housing and Urban Development).

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