Items Tagged with 'mortgages'


  • Wells Fargo faces class action lawsuit on loan officer compensation rules

    Letters will be mailed to potential plaintiffs shortly
    According to a lawsuit, LOs at Wells Fargo are paid advances on commissions at a rate of approximately $12 per hour, but those advances are "clawed back" from commissions earned. One loan officer had a problem with that and now a California judge ruled Wells Fargo must face a class action lawsuit over the claim.
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