American Banker (04/21/08) P. 10; Launder, William
Wells Fargo & Co. aired a live talk show/infomercial to as many as 13,000 real estate agents in 60 movie theaters nationwide on April 17. As part of the broadcast, Cara Heiden, co-president of Wells Fargo's residential mortgage unit, touted a new program that will educate real estate agents on new FHA lending requirements. Additionally, Heiden said the company would offer to pay the first mortgage payment in the event of a lender-delayed closing as well as encourage borrowers to complete credit counseling and make automatic payments to lower the chances of delinquency. With regard to short sales, Heiden said that Wells would be more willing to agree to them and be more open to loan applications from buyers interested in such properties.
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