Wells Fargo Repeats as Manufactured Housing Community Lender of the Year

SAN FRANCISCO, April 24 /PRNewswire-FirstCall/ -- For the second consecutive year, the Manufactured Housing Institute has named Wells Fargo & Company NYSE: WFC as the Manufactured Housing Community Lender of the Year for 2008. This National Industry Award was presented by the MHI at a ceremony at the 2008 National Congress and Expo for Manufactured and Modular Housing at the Paris Hotel and Casino held in Las Vegas on April 23.

"Winning this award further demonstrates our ability to serve our customers' financial needs even during the current market turmoil," said Creighton Weber, a Wells Fargo Commercial Mortgage senior vice president who is based in Troy, Mich.

Wells Fargo Commercial Mortgage helps finance manufactured housing communities nationwide through direct lending programs, including the Fannie Mae DUS loan program, and well-established correspondent lending relationships. Wells Fargo has originated $3 billion in manufactured housing community loans since 2004 with loans $2 million and above.

"Even in a challenging market, Wells Fargo is a very dependable source of financing," said Tony Petosa, a Wells Fargo Commercial Mortgage senior vice president. "Wells Fargo is an experienced manufactured housing community lender that offers the most comprehensive selection of loan programs available from a single source."

Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."