Did Wells Fargo Wrongly Foreclose on 400 Homes?

Did Wells Fargo Wrongly Foreclose on 400 Homes?

Wells Fargo is continuing to make headlines for all the wrong reasons. In its quarterly filing with the SEC, Wells Fargo revealed that a computer error may have led to the bank foreclosing on up to 400 homes.

The computer error allegedly caused Wells Fargo to deny mortgage modifications to 625 of its customers, even though they qualified for the program. And 400 of those customers eventually lost their homes. Wells Fargo says it has set aside $8 million to compensate the customers who lost their homes due to the error, and to settle with government agencies.

Wells Fargo Fined Billions for Misconduct

Since 2016, the bank has incurred more than $3 billion in fines for various wrongdoings, including fraudulently opening accounts, improper trading, charging customers improper fees and misrepresenting the value of its mortgages.

“Unfortunately, the bad news about this bank’s practices continues to mount. Consumers deserve much better from their trusted financial institutions,” said Attorney Walter Clark, founder of Walter Clark Legal Group.

Our firm has been handling personal injury cases throughout the California Low Desert and High Desert communities for over 30 years. With a 95% success rate, the California personal injury attorneys at Walter Clark Legal Group will fight to hold those responsible for your loss accountable and win compensation to cover medical bills, lost wages, and pain and suffering. If you have been injured and want to discuss your legal options, contact us today at (760) 777-7777 for a free consultation with an experienced personal injury lawyer. We have offices in Indio, Rancho Mirage, Victorville, El Centro, and Yucca Valley, and represent clients through the entire California Low Desert and High Desert communities.

DISCLAIMER: The Walter Clark Legal Group blog is intended for general information purposes only and is not intended as legal or medical advice. References to laws are based on general legal practices and vary by location. Information reported comes from secondary news sources. We do handle these types of cases, but whether or not the individuals and/or loved ones involved in these accidents choose to be represented by a law firm is a personal choice we respect. Should you find any of the information incorrect, we welcome you to contact us with corrections.