Wells Fargo blames computer glitch for customers losing homes

[Yo_Mama_Been_Loggin]

Wells Fargo is blaming a computer glitch for more than 400 customers losing their homes between 2010 and 2015.

The bank revealed in regulatory filings last week that the technological error resulted in 625 customers being denied loan modifications, and about 400 costumers having their houses foreclosed on, CNN Money reported on Friday.

The filing says the bank has set aside $8 million to compensate the affected customers, it added.

Wells Fargo apologized for the error and said in a statement that it is "providing remediation" to customers whose mortgages were affected, according to CNN.


http://thehill.com/policy/finance/400467-wells-fargo-blames-computer-glitch-for-customers-losing-homes

[dalton99a]

1. More Wells Fargo thievery and fraud

[BeyondGeography]

2. $20k/per wrongful foreclosure?

I hope the right judge gets that case.

[Wellstone ruled]

5. Thought the same,what the hell is going on with this.

These Slugs pulled the same crap in 06-09 only offered like 5k if they bailed without blowing up the place.

Liz Warren will have a field day with this new Wells screw over.

[Sherman A1]

3. They should put those affected

Back into those homes with paid off mortgages.

[Bayard]

4. Wonder how you apply for that?

The article doesn't say. I fall in that category from 2012. They foreclosed on me at the same time they were doing a loan modification. That was made illegal soon after that. I lost my farm, and a whole bunch of personal belongings that the new buyers would not let me come back to get (yeah, I know--also illegal).

They did send me a check for a lousy $500 from one class action lawsuit. Like that should make up for the nightmare.

[obamanut2012]

6. Same, they refused me a mortgage mod after a divorce

So, I then found a cash buyer, but it would be a (barely) short sale, and was refused. I literally couldn't even talk to anyone on the phone, and then they locked me out of my account before I was even foreclosed on. If you find out how to apply, please let me know, okay?

[Bayard]

7. OK

They are really nasty people to deal with.