The second largest servicer in the United States, Wells Fargo (WFC) is not planning to review foreclosure affidavits in light of the robo-signer allegations at many of its competitors. In an email to HousingWire, Wells Fargo spokesman Jason Menke said, “Wells Fargo policies, procedures and practices satisfy us that the affidavits we sign are accurate. We audit, monitor and review our affidavits under controlled standards on a daily basis. We will stand by our affidavits and, if we find an error, we will take the appropriate corrective action.” America’s largest servicer, Bank of America (BAC), has suspended foreclosures cases in 23 states in order to amend any faulty affidavits. Acting Comptroller of the Currency John Walsh earlier Friday asked the nations’ seven largest lenders to review its foreclosure processes for any sign of faulty documents. Fannie Mae and Freddie Mac also provided instructions to servicers Friday to review foreclosure processes, ensuring each is in compliance with state law. Write to Jacob Gaffney. Jon Prior contributed to this report. Neither of the authors has relevant investments.
Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio
Most Popular Articles
Foreclosures climb 21% in first half of 2026, pushed by higher stress in FHA, VA mortgages
U.S. foreclosure activity rose again in the first half of 2026, with 227,548 properties receiving filings, up 21% from the same period in 2025, according to ATTOM’s midyear foreclosure report.
Jul 16, 2026
-
We are not ready for the next housing downturn
Jul 21, 2026 -
Senior housing wealth reaches record level in first quarter
Jul 21, 2026 -
Can the housing market weather Iran conflict 2.0 and higher rates?
Jul 18, 2026 -
Mortgage volumes point to bank share gains in Q2
Jul 20, 2026 -
The housing market not normalizing, as affordability failure persists
Jul 20, 2026
Latest Articles
House subcommittee probes Compass MRED private listing network deal
House subcommittee asks Compass and MRED for briefings by Aug. 5 on PLNs, citing transparency and competition concerns.
-
Pulte banks on build-to-order pivot as margins find a floor
-
House passes bill to ease banking regulations
-
NAR Q2 strategic plan update targets MLS rules, lawsuits, training
-
Michigan’s Whitmer steps up, signs single-stair reform into law
-
Housing Market Spotlight: Lower-priced metros show greater resilience as demand softens
Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio