Media Contact Mel Campbell Regions Financial by jennyyingdi


									Media Contact:
Mel Campbell
Regions Financial

Regions Bank Sets Goal to Close More Than $1 Billion in HARP Refinances in 2012
          Expanded Home Affordable Refinance Program (HARP) provides
                   refinancing loans and relief to homeowners

[BIRMINGHAM, Ala.] (March 28, 2012) – Regions Bank (NYSE:RF) has set a goal in
2012 of providing more than $1 billion of relief to homeowners through the Federal
Housing and Finance Administration’s Home Affordable Refinance Program (HARP).

Under the revised program, homeowners with loans owned by Fannie Mae or Freddie
Mac – including those whose property values have declined and have been unable to
refinance – may qualify based on when they purchased their home and other criteria.
HARP features:
       Loans designed to help homeowners who may not be candidates for conventional
       refinances or who owe more than their home is worth take advantage of
       historically low interest rates and other refinancing benefits.
       Opportunities to refinance with a current loan servicer and now, other
       participating lenders, such as Regions.
       Elimination of certain risk-based fees for borrowers who refinance into shorter-
       term mortgages and lowering fees for others.
       Simplification of various paperwork involved in processing the loan.

“With rates at all-time lows and programs like HARP in place to help borrowers,
homeowners should explore whether refinancing makes sense for them,” said Logan
Pichel, head of Regions Consumer Lending. “With HARP specifically, we believe that
there are literally thousands of people who could achieve a better financial footing by
taking advantage of this program.”

Anticipating interest in HARP, Regions has increased staffing to handle additional
application volume. The company anticipates closing $1 billion in HARP refinances,
alone, in 2012.

Regions has been an industry-leader in helping customers facing hardships due to
economic or natural disasters. Since late 2007, Regions has helped more than 42,000 of
its customers stay in their homes through its in-house Customer Assistance Program,
providing deferrals, loan modifications and other help to customers in need. Regions has
also assisted borrowers through both of the original arms of the Making Home
Affordable Program: HARP and the Home Affordable Modification Program (HAMP).

                                                            Regions Financial Corporation
                                                            Post Office Box 11007
                                                            Birmingham, AL 35288
Homeowners who want to determine if their mortgage is owned by either Fannie Mae or
Freddie Mac, and then may be eligible for HARP should consult or

Interested homeowners can also contact 1-888-FOR-REFI [367-7334] or for more information on the HARP program or 1-800-748-
9498 for the Regions Customer Assistance Program.

About Regions Financial Corporation

Regions Financial Corporation, with $127 billion in assets, is a member of the S&P 500
Index and is one of the nation’s largest full-service providers of consumer and
commercial banking, wealth management, trust, mortgage and insurance products and
services. Regions serves customers in 16 states across the South, Midwest and Texas, and
through its subsidiary, Regions Bank, operates approximately 1,700 banking offices and
more than 2,000 ATMs. Its investment and securities brokerage trust and asset
management division, Morgan Keegan & Company Inc., provides services from over 90
offices. Additional information about Regions and its full line of products and services
can be found at


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