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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 2, 1998
WELLS FARGO & COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-6214 No. 13-2553920
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
420 Montgomery Street, San Francisco, California 94163
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 1-800-411-4932
Not applicable
(Former name or former address, if changed since last report)
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Item 5: OTHER EVENTS
On April 2, 1998, Wells Fargo Bank, N.A (Wells Fargo) and GMAC
Mortgage Corporation (GMAC Mortgage) announced that they have entered
into a letter of intent with respect to the acquisition by GMAC
Mortgage of Wells Fargo's mortgage servicing business located in
National City, California. GMAC Mortgage intends to acquire the
servicing for approximately $28 billion of loans and to subservice
approximately $6 billion of Wells Fargo's bank-owned loans.
Negotiations will proceed towards the execution of a definitive
agreement between Wells Fargo and GMAC Mortgage. The transaction is
anticipated to be completed in June, although there is no assurance
that the transaction will be completed.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, on April 3, 1998.
WELLS FARGO & COMPANY
By: FRANK A. MOESLEIN
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Frank A. Moeslein
Executive Vice President and Controller
