Wells Fargo: Mistake contributed to hundreds of foreclosures

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Wells Fargo: Mistake contributed to hundreds of foreclosures

Wells Fargo: Mistake contributed to hundreds of foreclosures

Hartford Courant-

Wells Fargo says a company mistake contributed to hundreds of foreclosures because it miscalculated customers’ eligibility for mortgage modifications.

The bank said in a filing Friday the error caused about 625 customers to be denied, or not offered, loan modifications they otherwise qualified for. Foreclosures were completed in about 400 of the cases.

The customers had been using federal programs that helped families at risk of losing homes. Spokesman Tom Goyda says there’s no breakdown of where the foreclosures occurred.

[HARTFORD COURANT]

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