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A comment on Wells Fargo to pay $3.7B settling charges it wrongfully seized homes and cars. Parent comment

Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by JumpCrisscross on Tuesday December 20, 2022 @02:29PM (#34071130)
> then losing their home for no reason

Do we have more detail on how these homes were lost? It sounds like Wells Fargo refused, improperly, to modify a mortgage.

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by dehrmann on Tuesday December 20, 2022 @10:57PM (#34076465)
This is what it said

> On home loans, the CFPB said the bank improperly denied mortgage modifications over a seven-year span, with some customers losing their homes.

This says it started in 2011 (maybe earlier). If they already had a mortgage, in a good labor and good housing market, I doubt that many people actually lost their homes who wouldn't lose them anyway. Mortgage modifications are for people already behind on their payments.

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