Wells Fargo admits it incorrectly foreclosed on 545 homeowners it should have helped

Wells Fargo acknowledged Tuesday that, due to a calculation error, it had improperly foreclosed on 545 distressed homeowners after they asked for help with their mortgages. Overall, 870 homeowners were denied help they qualified for — with more than half losing their homes afterward, Wells Fargo said. The acknowledgment is sure to increase pressure on the San Francisco-based bank, which has been struggling to repair its image after a series of missteps. It has already paid more than $1 billion in fines to various regulators for opening up sham accounts people didn’t want and improperly repossessing thousands of cars.

Source: Wells Fargo admits it incorrectly foreclosed on 545 homeowners it should have helped

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