https://readersupportednews.org/news-section2/318-66/54265-they-destroyed-me-how-wells-fargo-wrongly-forced-hundreds-of-families-to-sell-their-homes
Wells Fargo says an internal review found the bank denied help to hundreds of homeowners after fees charged by foreclosure attorneys were improperly used when the bank determined whom to offer mortgage help. The computer error began in 2010 and was not corrected until last April, the bank said.
Overall, 870 homeowners were denied help for which they qualified, including 545 who lost their homes to foreclosure. Wells Fargo says it has reached most of the customers affected and set aside $8 million to compensate them, though industry analysts say that number is likely to increase.
The revelation echoes the complaints of thousands of borrowers in the years after the financial crisis that banks were stingy about offering help with borrowers’ exploding loans.
“Wells Fargo failed to maintain its systems, failed to find problems when they occurred and then masked the problem for years,” said Alys Cohen, staff attorney for the National Consumer Law Center
Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction
