Monday, August 6, 2018

Wells Fargo: Computer Glitch Behind Hundreds Of Foreclosures

So what happens to the 400 families that were foreclosed on? Is this going to be another situation where people improperly lost their homes are going to get a $1,500 check?

Hundreds of people had their homes foreclosed on because software used by Wells Fargo incorrectly denied them mortgage modifications. The embattled bank revealed the issue in a regulatory filing this week and said it has set aside $8 million to compensate customers affected by the glitch.