24 Jun Wells Fargo—Inappropriate Changes to Mortgages
Wells Fargo’s Mortgage Office, Following a Huge Scandal in Its Consumer Division, Mortgage Office, Allegedly Implemented Unauthorized Alterations to Home Loans Owned by Customers in Bankruptcy
Well Fargo’s Mortgage office allegedly implemented unauthorized alterations to home loans which were owned by clients facing bankruptcy, according to a new Class Action Suit currently under review by attorneys Joe Peiffer and James Booker.
Peiffer 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 Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.
Said changes purportedly caught customers unprepared and allegedly lowered their monthly loan payments, which might have looked to assist borrowers, especially those in bankruptcy, the aforementioned Action notes
When one looks at the details of the agreement, however, Wells Fargo allegedly made changes which purportedly lengthened the terms of borrowers’ loans by decades, resulting in monthly payments for a bigger period of time which would ultimately end in more money going to the bank, the Action reports.
Wells Fargo allegedly orchestrated larges changes to the home loans without getting approval even though such changes to a payment plan for a person in bankruptcy are subject to approval by the court and the other parties involved in the matter, the Action states.
The aforementioned changes were allegedly part of a purported loan trial modification process from Wells where clients borrowing funds and who were in bankruptcy and at risk of defaulting on the commitments they had made, the Action notes. This allegedly could have exposed them to potential foreclosures in the future, the Action reports.
Wells Fargo, while stilling being Investigated for Its Alleged Practice of Opening Unwanted Bank and Credit Card Accounts in Order to Obtain Sales Quotas, Has Allegedly Been Producing Changes to Borrowers’ Loans since 2015
Wells Fargo, while still being investigated for its alleged practice of opening unwanted bank and credit card accounts in order to reach sales quotas, has allegedly been making changes to borrowers’ loans since 2015, according to the aforementioned Action currently under review by attorneys Joe Peiffer and James Booker.
The Courts are currently unaware of the exact number of cases nationwide, but seven cases providing details of 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 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 Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 504-523-2434 or via e-mail at [email protected] or [email protected].