Industry News

Wells Fargo, Automatic Millionaire team up

Real estate loan company, author promote U.S. home ownership

Wells Fargo Home Mortgage has teamed up with financial coach David Bach to promote home ownership for Americans, the company said today. Wells Fargo, the second-biggest U.S. mortgage lender by total volume in 2004, signed a three-year agreement with financial coach David Bach, author of several best-selling books including "The Automatic Millionaire." The partnership is designed to increase the number of first-time, second-home and investment home buyers and help homeowners best manage the equity in their home as an asset to achieve their long-term financial goals, Wells Fargo said. "Wells Fargo Home Mortgage's sponsorship of David Bach is inspired by our shared vision to reach millions of Americans with the message about the benefits of home ownership," said Cara Heiden, division president of Wells Fargo Home Mortgage, a division of Wells Fargo Bank, N.A., in a statement. "Our collaboration makes perfect sense since we both soundly believe in the lifelong power of home owners...