Wells Fargo: Mistake contributed to hundreds of foreclosures

 · News; Wells Fargo: Mistake contributed to lots of of foreclosures. By. Clubpress –

Wells Fargo says a company mistake contributed to hundreds of foreclosures because it miscalculated customers’ eligibility for mortgage modifications.

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About 60 percent of those homeowners went into foreclosure. Then, last September-three years after Wells Fargo basically ruined his life-Aguilar received a letter from the bank that read: “Dear Jose.

Wells Fargo is hosting another Home Preservation Workshop to help Wells Fargo and Wachovia mortgage customers facing payment challenges. The invitation is open to.

Wells Fargo to pay $1B to settle claims of mortgage lending abuses Wells Fargo will pay a $1 billion to settle several allegations, including that it improperly charged mortgage customers fees to.

Court records make it difficult to ascertain how many pending foreclosures GMAC has in Maryland. Civil Justice filed similar motions against Wells Fargo. badly about the mistakes we made here." In.

NEW YORK/LOS ANGELES (Reuters) – Los Angeles has sued U.S. Bancorp (USB.N), accusing a unit of the fifth-largest U.S. commercial bank of becoming one of the city’s biggest slumlords and blighting the.

Wells Fargo has acknowledged that 870 borrowers were wrongfully denied a modification, and that more than 500 borrowers lost their homes as a result, but the bank blames the issue on a series of calculation errors, according to the lawsuit. You can read a copy of the class action complaint in the Wells Fargo loan modification lawsuit here.

Wells Fargo Says It Foreclosed on Hundreds of Homes After a Computer Glitch. And last week, the Justice Department announced that Wells Fargo had agreed to pay a $2.09 billion fine for issuing mortgage loans based on incorrect income data.

The government said Wells Fargo’s false certifications that the loans met requirements for federal insurance resulted in hundreds of millions of dollars in insurance payouts. staff writer Deon Roberts.

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Wells Fargo says a company mistake contributed to hundreds of foreclosures because it miscalculated customers’ eligibility for mortgage modifications.

The litigation cost of $1 billion contributed to an operating. in Wealth and Investment Management." Wells Fargo has struggled to recover from a massive consumer sales scandal last year that.