Confidential. For review only in Wells Fargo approved meetings. Not to be copied, shared or distributed beyond members of the approved meeting. Wells Fargo Home Mortgage Joe Ohayon SVP, Community and Client Relations Housing Counselors: The Inside Scoop on Working Effectively with Servicers November 4, 2009

1 Industry Loans Outstanding Confidential. For review only in Wells Fargo approved meetings. Not to be copied, shared or distributed beyond members of the approved meeting.

22 Delinquency and Foreclosure Process The delinquency and workout process is not simple or linear. Customers move in and out of stages over time. Confidential. For review only in Wells Fargo approved meetings. Not to be copied, shared or distributed beyond members of the approved meeting.

3 Not all customers, even if their loan is modified, will be able to continue making payments on time. The key factors that drive re-default are:  Debt-to-income ratios (DTI above 38%/TDTI above 55%)  Post-modification monthly surplus below $300 or less than 10% of income  Post-modification payment increases  Stretched affordability coupled with no equity As we identify options for our customers, we need to ensure they are sustainable over the long-term. Making Home Affordable is just one of the modification options available. Priority of Actions to Achieve Objectives HAMP In-house modification program Unique case-by-case modifications Home sale assistance Quality review for all cases before foreclosure sale Finding Appropriate Sustainable Options Confidential. For review only in Wells Fargo approved meetings. Not to be copied, shared or distributed beyond members of the approved meeting.

44 For customers delinquent or struggling to keep current on their mortgages HAMP is a viable option for customers:  Whose loan is owned by Fannie Mae, Freddie Mac, some private investors, as well as our held-for-investment loans.  That have an owner-occupied property.  With a mortgage debt-to-income ratio >31%.  In addition, we implemented the FHA version of HAMP in August. For customers current on their mortgages HARP is a viable option for customers:  Whose loan is owned by Fannie Mae or Freddie Mac.  Whose property values have declined and whose loan balance currently exceeds the value of their home, up to a loan-to-value of 125%. Home Affordable Modification Program Home Affordable Refinance Program Making Home Affordable Confidential. For review only in Wells Fargo approved meetings. Not to be copied, shared or distributed beyond members of the approved meeting.

How Can Counselors Help with HAMP?  Assist borrower with accurate completion/submission of financial package  Ensure alignment between verbal income and documented income  Payment reminders during trial period  Not available for all investors  Manage expectations 5

Helpful Tips to a Quick Decision  Signed Third Party Authorization  Complete package submission  Proof of Income  Tax Returns  Hardship Letter  Bank Statements  Include loan numbers on all pages  Holistic Debt Counseling  Dedicated Housing Counselor Line:  Patience but Persistent 6

You Play an Important Role!!  Let’s keep the dialogue going and continue working together on behalf of homeowners in the communities we serve. 7