Wells Fargo Claiming 3 Mods For Every Foreclosure Sale

[StrategicDefault2010]

So in the last 2 days every real estate agent or mortgage broker I know or follow via twitter or blogs is pumping this "Wells doing 3 mods for every foreclosure sale" story that's out. Here's a link for anyone interested...

Wells Fargo: 3 Modifications for Every 1 Foreclosure Sale | ecreditdaily.com

Am I alone in thinking that this claim is a bit skewed? The claim is for every foreclosure SALE, not every foreclosure... which makes me wonder what the ratio of mods to loans they hold in default really is, and why they won't publish that info?

[ManicMangaManiac]

My two cents? Wells Fraudgo is up to their eyeballs in BS. It's just pure public relations BS to make themselves look better than they really are. They're just making this up out of the air that is wafting through the thousands of homes they've seized from homeowners. That's my take on the whole thing--

Sally