(2013 Inside Mortgage Finance) $1.8 trillion Wells Fargo Home

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Company and Legal Department Overview
David V. Gorsche
Assistant General Counsel
May 30, 2014
•
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company
with $1.5 trillion in assets and $21.9 billion in income for 2013
•
Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and
commercial finance through more than 9,000 locations, 12,500 ATMs, and the internet (wellsfargo.com)
•
Headquartered in San Francisco
•
Does business with one in three U.S. households; over 70 million customers
•
More than 265,000 team members in 36 countries; 14,500 team members in Iowa
•
Ranked fourth in assets among U.S. banks and was the world’s most valuable bank by market capitalization,
$262 billion (1st quarter 2014);
•
Named “Best Bank” in its Global Awards for Excellence by Euromoney in 2013 (first time a U.S.-based bank has
won the top award)
•
Ranked largest corporate donor in the U.S. by The Chronicle of Philanthropy in 2013 (based on 2012 donations)
• Wells Fargo Home Mortgage located in West Des Moines
• 50,122 team members (as of 3/31/14)
• #1 Mortgage Originator
• In 2013, Wells Fargo provided $351 billion in financing to 1.5 million consumers to purchase homes or
refinance existing mortgages
• Financed 1 of every 5 homes in the United States in 2013
• #1 Retail Mortgage Lender (2013 Inside Mortgage Finance)
• #1 Mortgage Servicer (2013 Inside Mortgage Finance)
• $1.8 trillion Wells Fargo Home Lending Servicing volume, 11.4 million loans
• Wells Fargo Home Mortgage has been among the top 3 in rank for both mortgage originations and servicing every
year since 1995
Wells Fargo Legal Department
• Wells Fargo Law Department is comprised of 7 Divisions
• Banking, Operations, Commerce and Global Risk
• Consumer Lending and Corporate Regulatory
• Enterprise Services
• Finance and Operations
• Global Commercial and Insurance
• Litigation and Workout
• Wealth, Brokerage, Retirement and Asset Management
• Approximately 800 team members in the United States, Canada, Puerto Rico, Hong Kong, Ireland and the
United Kingdom.
• Approximately 91 Attorneys Support the Consumer Lending and Corporation Regulatory Division
• Assistant General Counsel of the Mortgage Banking Division of Wells Fargo
• 40 team members
• Located in Des Moines, Houston, Minneapolis, Charlotte, San Antonio and Dallas
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