Wells Fargo resolves claim it breached 2010 mortgage pact

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Wells Fargo resolves claim it breached 2010 mortgage pact

Wells Fargo resolves claim it breached 2010 mortgage pact

REUTERS-

Wells Fargo has reached an agreement with homeowners who accused it of reneging on a 2010 settlement over so-called adjustable-payment mortgages issued before the 2007 housing crisis.

Disclosed in a court filing on Friday, the agreement resolves a long-running dispute over Well Fargo’s compliance with the 2010 settlement, which called for the bank to provide up to $2.7 billion in mortgage relief to help borrowers avoid foreclosure. The homeowners are represented by lawyers Jeffrey Berns and Lee Weiss.

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