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Wells Fargo—Improper Changes to Mortgages
Wells Fargo’s Mortgage Office, Despite a Major Scandal in Its Consumer Division, Allegedly Put Unauthorized Changes Through to Home Loans Which Were Owned by Customers in Bankruptcy
Well Fargo’s Mortgage side allegedly put unauthorized changes through to home loans which were purportedly owned by clients in a state of bankruptcy, according to a new Class Action Suit currently under review by attorneys Alan Rosca and James Booker.
Peiffer Rosca Wolf securities practice lawyers are investigating recovery options on behalf of issues related to Wells Fargo’s alleged improper changes to mortgages and would like to talk to people who believe they’ve been victimized.
Customers who believe they may have lost money in activity related to Wells Fargo’s alleged improper changes to mortgages are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
The aforementioned changes reportedly caught customers off guard and allegedly dropped their monthly loan payments, which might have appeared to help borrowers, especially those in bankruptcy, the aforementioned Action notes
A closer look at the fine print, however, reveals that Wells Fargo allegedly made alterations which allegedly prolonged the terms of borrowers’ loans by decades, resulting in monthly payments for a longer period of time which would ultimately result in more cash going to the bank, the Action reports.
Wells Fargo allegedly made big changes to the home loans without approval even though any such changes to a payment plan for a person in bankruptcy are subject to approval by the court and the other parties involved, the Action states.
Said changes are allegedly part of a so-called loan trial modification process from Wells wherein borrowers in bankruptcy at risk of defaulting on the commitments they have made, and could have exposed them to potential foreclosures in the future, the Action notes.
Wells Fargo, while under Investigation for Its Alleged Practice of Opening Unwanted Bank and Credit Card Accounts in Order to Meet Sales Quotas, Has Allegedly Been Making Alterations to Borrowers’ Loans since 2015
Wells Fargo, while under investigation for its alleged practice of opening unwanted bank and credit card accounts in order to achieve sales quotas, has allegedly been making changes to borrowers’ loans since 2015, according to the aforementioned Action currently under review by attorneys Alan Rosca and James Booker.
While the exact number of cases nationwide is uncertain, seven cases detailing the aforementioned conduct have recently arisen in Louisiana, New Jersey, North Carolina, Pennsylvania and Texas with Wells Fargo showing records that it had submitted changes on at least 25 borrowers’ loans since 2015 in the North Carolina court, according to Court Records.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged mortgage loan irregularities and are currently investigating Wells Fargo’s alleged improper changes to mortgages and would to talk to people who believe they’ve been victimized. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Wells Fargo’s alleged improper changes to mortgages may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at [email protected] or [email protected].
from Investment Fraud Lawyers | Investor Loss Recovery https://securitieslitigators.com/wells-fargo-improper-changes-to-mortgages/
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