Second Meeting with Wells Fargo on Mortgage Settlement Secessary, Bondi Says
Second meeting with Wells Fargo on mortgage settlement necessary, Bondi says
Florida Attorney General Palm Bondi is scheduling a second meeting with leaders of America’s largest lender about concerns that it is violating the National Mortgage Settlement.
Bondi gave Wells Fargo until yesterday to respond on when it would be able to answer myriad questions about its customer treatment and servicing standards that were made mandatory in the $25 billion settlement reached last year.
Bondi spokeswoman Jenn Meale said the San Francisco-based bank called the attorney general’s office yesterday and is working to schedule a follow-up meeting to one held in May where the concerns were relayed face-to-face.
Outlined in a letter preceding that meeting are problems borrowers say they are having with the bank. Those include a lack of knowledge about the settlement by Wells Fargo’s own employees, foreclosure sale dates not being canceled when a loan modification review is in process and escrow is not being applied to insurance payments resulting in expensive forced-placed insurance being forced on the borrower.