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Lawsuits claim Wells Fargo modified mortgages without customer permission

June 16, 2017 /

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Wells Fargo is facing more accusations that it made unauthorized changes to customers accounts — this time to their mortgages.

The bank forced borrowers in bankruptcy into loan modifications by reducing their monthly mortgage payments, even though homeowners had not requested the adjustments, according to lawsuits filed against Wells Fargo last week and last year. The loan modifications also typically extended consumers’ mortgages by decades, substantially increasing the amount of interest they would owe on their loans and putting them at greater risk of default.

By Jonnelle Marte

Full Story: https://www.washingtonpost.com/news/get-there/wp/2017/06/15/lawsuits-claim-wells-fargo-modified-mortgages-without-customer-permission/?utm_term=.5213ac1f641c

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