Homeownership in Washington, D.C., and Prince George’s County, Maryland, to Get $7.1 Million Boost

Wells Fargo & Company (NYSE:WFC), NeighborWorks^® America,
MANNA, Inc. and Community Housing Partners today announced the NeighborhoodLIFT^®
program will launch for Washington, D.C., and Prince George’s
County, Maryland, with a $7.1 million commitment by Wells Fargo to boost
local homeownership.

The 2019 NeighborhoodLIFT program follows the 2012 CityLIFT program that
created 350 homeowners in the area. Wells Fargo has conducted 67 LIFT
program events in the U.S. since 2012, creating nearly 20,000 homeowners.

Registration opens Feb. 4 for free event in Washington Feb. 22–23

Interested homebuyers may register beginning Feb. 4 at www.wellsfargo.com/lift
to attend the free event on Friday, Feb. 22, from 10 a.m. to 7 p.m. and
on Saturday, Feb. 23, from 9 a.m. to 2 p.m. at the Washington Hilton
(1919 Connecticut Ave NW, Washington, D.C. 20009). Walk-ins also are
welcome while grants are available for reservation.

To learn more about the eligibility requirements, visit www.wellsfargo.com/lift
or call 866-858-2151. Participating homebuyers can obtain mortgage
financing from any participating lender. MANNA, Inc. and Community
Housing Partners will administer the grants, determine eligibility and
provide homebuyer and financial education. Approved homebuyers will have
up to 60 days to finalize a contract to purchase a home in Washington,
D.C., or Prince George’s County.

“NeighborhoodLIFT is part of Wells Fargo’s Where We Live program — a
new, five-year, $1.6 billion commitment to lending and philanthropy in
Washington, D.C.,” said John Allen, Wells Fargo’s region president in
Washington. “The program will help hardworking families and individuals
get on the path to achieve successful and sustainable homeownership.
It’s one more way Wells Fargo is improving lives and strengthening
communities.”

To be eligible for $20,000 down payment assistance grants, homebuyers
must not exceed 100 percent of the local area median income, which is
about $117,200 up to a family of four in Washington, D.C., and Prince
George’s County. In addition, special parameters exist for military
service members, veterans, teachers, law enforcement officials,
firefighters and emergency medical technicians including down payment
assistance grants of $22,500 for those earning up to 100 percent of the
area median income.

In addition, Wells Fargo has committed $325,000 for up to 650 consumers
to receive complimentary face-to-face homeownership counseling.
Interested homebuyers can receive a voucher at the NeighborhoodLIFT
launch event that will provide in-person homeownership counseling at no
charge with a participating HUD-approved housing counselor in the area.
The complimentary Home Ownership Counseling grant program is an
additional resource to the homebuyer education required for a
NeighborhoodLIFT down payment assistance grant.

“This innovative public-private collaboration will create about 270 more
homeowners in Washington, D.C., and Prince George’s County,” said Donald
Phoenix, regional vice president, Southern region, NeighborWorks
America. “The required homebuyer education classes provided by certified
professionals better prepare NeighborhoodLIFT homebuyers to achieve
their goal of sustainable homeownership.”

Approved homebuyers must be approved for home financing with an eligible
lender and be in contract to purchase a home in Washington, D.C., or
Prince George’s County. To reserve the full grant amount, participants
buying a primary residence with the NeighborhoodLIFT program must commit
to live in the home for five years.

“The NeighborhoodLIFT program will provide homebuyer education and down
payment assistance to help families become homeowners,” said the Rev.
Jim Dickerson, founder and chief executive officer of MANNA, Inc. “We
are excited to team up with Wells Fargo, NeighborWorks America and
Community Housing Partners to make this opportunity available for so
many deserving families.”

The NeighborhoodLIFT program is Wells Fargo’s single largest corporate
philanthropic effort of its kind in the company’s history and is funded
by the Wells Fargo Foundation. Since 2012, Wells Fargo has committed
more than $433 million of down payment assistance, housing counseling,
homebuyer support and education in 67 communities across the U.S.
through LIFT programs. A video about the NeighborhoodLIFT program is
posted on Wells
Fargo Stories.

About MANNA, Inc., Community Housing Partners and NeighborWorks
America

MANNA, Inc. and Community Housing Partners are chartered members of
NeighborWorks America, a national organization that creates
opportunities for people to live in affordable homes, improve their
lives and strengthen their communities. NeighborWorks America supports a
network of more than 245 nonprofits, located in every state, the
District of Columbia and Puerto Rico. Visit www.mannadc.org,
www.communityhousingpartners.org
and www.neighborworks.org
to learn more.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,950
locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile
banking, and has offices in 37 countries and territories to support
customers who conduct business in the global economy. With approximately
262,000 team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018
rankings of America’s largest corporations. News, insights and
perspectives from Wells Fargo are also available at Wells
Fargo Stories.

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