As per Wikipedia,“Wells Fargo & Company is an American multinational banking and financial services holding company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank bymarket capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. In 2011, Wells Fargo was the 23rd largest company in the United States. Wells Fargo is headquartered in San Francisco, California, with “hubquarters” throughout the country. In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA− in light of the financial crisis of 2007–2012. The firm’s primary U.S. operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota. Wells Fargo in its present form is a result of a merger between San Francisco-based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte-based Wachovia. Following the mergers, the company transferred its headquarters to Wells Fargo’s headquarters in San Francisco and merged its operating subsidiary with Wells Fargo’s operating subsidiary in Sioux Falls. In 2012, Wells Fargo had more than 9,000 retail branches and over 12,000 automated teller machines in 39 states and the District of Columbia. A “Big Four bank”, it has over 270,000 employees and over 70 million customers. As of July 12, 2013, Wells Fargo became the world’s biggest bank by market capitalization, worth $236 billion, beating ICBC” Wells Fargo Bank is one of the largest players in consumer lending nationwide, as a result they are also often involved in the acquisition of bank owned cars, boats, and real estate from non performing loans. Wells Fargo Bank has one of the largest REO portfolios in the nation. In an effort to remarket these bank owned assets, Wells Fargo has created a portal on their website for consumers to view current offerings.
Interested buyers looking for bank owned cars, boats, and real estate can view current bank repossessions by visiting theWells Fargo Bank repo list.
Buyers are pleased to see how easy buying from Wells Fargo can be. Although they aren’t commissioned sales associates, Wells Fargo representatives have an extensive background in real estate and auto transactions. This knowledge will help to expedite the process and ensure you are being treated fairly. Their web portal allows consumers to narrow their search to their local zip code and will show a variety of Wells Fargo Bank repossessions offered at a discount.Currently the lion’s share of Wells Fargo’s inventory is REO holdings (also known as real estate owned), but this can change daily. If you are new to purchasing real estate or vehicles it’s recommended to contact a trusted real estate professional or local mechanic to provide additional insight.