Wells Fargo Launches Comprehensive Online Mortgage Solution for Individualized Home Buying and Refinancing

Business Wire, June 3, 2003

Business Editors/Real Estate Writers

SAN FRANCISCO--(BUSINESS WIRE)--June 3, 2003

Now Available at www.wellsfargo.com, Gomez's #1 Ranked Internet

Bank, Home Loan Workbench(SM) Helps Borrowers Find the Right Mortgage

Wells Fargo Home Mortgage, a subsidiary of Wells Fargo & Company (NYSE: WFC), today announced the introduction of a powerful online service that helps simplify the mortgage and home purchase process for customers. Home Loan Workbench(SM) (www.wellsfargo.com/mortgage/homeloanworkbench) integrates mortgage rate information, loan recommendations, closing cost estimates and alternative financing scenarios into one tool, reflecting each user's specific needs.

By providing tailored solutions for home buying or refinancing, Home Loan Workbench empowers customers to immediately and easily explore a wide range of mortgage options and make side-by-side comparisons of monthly payments and closing costs.

As a dynamic, interactive guide to finding the right mortgage, Home Loan Workbench is designed for all types of Internet users, from the inexperienced to the savvy. With a recent Mortgage Bankers Association of America survey showing that three out of four Internet users shopping for a home also used the Internet to research mortgages, Home Loan Workbench raises the standard for online research.

"Buying and refinancing a home are among the largest financial transactions that a consumer ever makes, and it can often be an unsettling process," said Michael DeVito, senior vice president of E-business for Wells Fargo Home Mortgage. "Wells Fargo's Home Loan Workbench is a great way for consumers to sort through the many financing options available. By providing all of the necessary information and support at every step along the way, Home Loan Workbench provides borrowers with the peace of mind that they are making the mortgage decision that is right for them."

Consumers will find that Home Loan Workbench is the online tool of choice for finding a mortgage because it allows them to:

-- Receive personalized loan recommendations, based on a brief

set of questions about the transaction, the consumer's

financial situation, and their financing preferences.

-- View an itemized estimate of closing costs for the specific

state and county in which the property is located.

-- Compare loan options side-by-side to evaluate differences such

as monthly payments and closing costs.

-- Modify loan terms in order to create variations of the loan

scenarios.

-- Save their loan scenarios for six months to return to options

when ready to take the next step. Wells Fargo is the only

financial institution to offer this unique feature.

-- Return to their saved options when they're ready to take the

next step.

-- Forward loan scenarios to a Wells Fargo Home Mortgage

consultant. Personal help is always just a click or phone call

away.

Home Loan Workbench users can subscribe to "Home Bulletins," a free subscription service that sends mortgage information directly to consumers' e-mail inboxes. They can elect to receive regular mortgage rate alerts and timely and personalized information on home loans, refinancing, and the home-buying process.

Wells Fargo recently received the nation's #1 ranking of Internet banks by Gomez, the premiere Internet quality measurement firm. The Gomez ranking also reviewed overall products, pricing, customer experience, customer service and technology. In addition, Wells Fargo was just ranked the #2 e-commerce innovator - above all other banks - by Institutional Investor (March 2003).

Based in Des Moines, Iowa, Wells Fargo Home Mortgage, Inc. is a subsidiary of Wells Fargo & Company (NYSE: WFC). It is a leading originator and servicer of residential mortgages. With a presence of more than 1,700 mortgage and Wells Fargo stores serving all 50 states, Wells Fargo Home Mortgage operates the leading mortgage lending network in the country.

Wells Fargo & Company is a diversified financial services company with $370 billion in assets, providing banking, insurance, wealth management and estate planning, investments, mortgage and consumer finance from 5,800 stores and the Internet (www.wellsfargo.com) across North America and elsewhere internationally.