San Francisco based mortgage giant Wells Fargo announced last week that it made mistakes in 55,000 foreclosure cases and outlined a timetable for fixing them. The bank stated that it plans to re-submit incorrect documents by mid-November. In a statement from Wells Fargo spokesman Teri Schrettenbrunner the bank stated that the mistakes were technical in nature and "we don't believe that there are instances in which the foreclosures would not have occurred otherwise."
In recent months, two Wells Fargo employees have given sworn statements in depositions that they signed hundreds of documents per day without verifying the statements in them were correct. Even though Wells Fargo has admitted to problems in their foreclosure processes they declined to join other mortgage giants Bank of America and Ally Financial Inc. in suspending foreclosures pending an investigation into and a correction of their practices.
If you Wells Fargo is foreclosing on your home, it is vital that you contact a Florida Foreclosure Defense Lawyer.
