. >> today what we wanted to focus on what we're doing in the community, foreclosure mitigation. we received a $25 million grant from hud, the american recovery and reinvestment act. with these funds we're growing into 25 -- i'm sorry, 35 census tracks in san jose that have been most hardly hit by the foreclosure crisis and going in to purchase homes, rehabilitate homes and get low income home buyers into the homes. >> we did a story on one of your events in the mayfair area where alex took off his three-piece suit and actually put on jeans and sneakers and go out and clean homes and rebuild fences and fix windows and whatnot. this is part of the work wells fargo is into. >> that's absolutely correct. food seeing you again. thanks for having us on the show. what we did is partnered up with three different organizations. one of them housing trusts here with jessica and her team, rebuilding together. along with wells fargo. and what it is, it was -- the housing trust was part of a recipient of a $5 million grant. we were able to work with them and rewarded them $100,000 to rehabili

mitigation efforts is needed. to ensure processes are sufficiently robust, to prevent wrongful foreclosure action and to ensure services have identified the extent to which individual homeowners have been harmed. so first, do you believe another regulatory review is needed? is that what we need to deal with this? >> well, i just want to make sure it was clear what the scope of the review was. i don't think there was agreement among any of the regulars. right now pursuant to these orders, that are being discussed, there needs to be a look back. some of these major services need to do a thorough review of servicing errors retroactively. and identify harm borrowers and provide redress for the well as some type of complaint process. and we are in discussions with our fellow regulars on that right now. i would defer to mr. walsh who is the lead regular for most of the servicers, and has been playing a key role in this. but i do think it's a port for the good explain what was in was not covered. and also this is being coordinated with the justice department and state ag's on the law enforcement and. i think there's some hope

a thorough regulatory review of loss mitigation efforts is needed to ensure processes are sufficiently robust to prevent wrongful foreclosure actions and to ensure services identified to the extent of which individual homeowners have been harmed." first, you believe that another regulatory review is needed? is that what we need to do with this? >> well, i just wanted to make sure it was clear what the scope of the review was, and i don't think there was disagreement among the regular regulators with the scope. right now, pursuant to consent orders discussed, there needs to be a look back so the major servicers need to be a third review of servicing errors retroactively and identify harmed borrowers and provide appropriate redress for that and a client process. we're in discussions with the fellow regulators on that, and i defer to mr. walsh, the lead regulator for most of the servicers and has been playing a key role in this, but i think it's important for the public to explain what was and what was not covered and also being coordinated with the justice department, the state ag's on the law enforcement end. i think there's