Wells Fargo Postpones Some Foreclosure Sales After OCC Guidance

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Wells Fargo Postpones Some Foreclosure Sales After OCC Guidance

Wells Fargo Postpones Some Foreclosure Sales After OCC Guidance

Bloomberg-

Wells Fargo & Co. (WFC), the largest U.S. home lender, halted some foreclosures until it can understand new guidelines from the Office of the Comptroller of the Currency, a spokeswoman said.

“We postponed certain foreclosure sales while we study the revised guidance from the OCC regarding imminent foreclosure sales,” Vickee Adams, a bank spokeswoman, said in a phone interview. “We expect it to be brief,” she said, referring to the length of the postponement. She declined to say which states were affected.

[BLOOMBERG]

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