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Posted By: CAReview Editor Feb 7, 2017

Nov 1, 2016

Wells Fargo Paying $50 Million to Settle Mortgage-Fee Lawsuit

More than 250,000 homeowners who had loans serviced by Wells between 2005 and 2010 and paid for this type of appraisal could receive at least $120 each. Under its mortgage servicing agreement, Wells can require borrowers who default on their loan to provide an informal estimate of the home’s value, usually from a real estate broker. Starting in 2001, Wells Fargo began ordering these “broker …