Mortgage settlement

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Wells Fargo to pay $13 million to settle claims of improperly modifying bankrupt borrowers’ mortgages

Mar 20, 2019By

Wells Fargo will pay more than $13 million to settle a pending class-action lawsuit that accused the bank of “improperly” modifying the mortgages of borrowers who had declared bankruptcy. The complaint alleged that the bank engaged in “fraud, violations of bankruptcy rules and laws, and unfair and deceptive trade practices” by “improperly and unilaterally” modifying the mortgages of the bankrupt borrowers.