Wells Fargo Quietly Reveals “Calculation Error” That Affected Customers’ Mortgage Loans | Apps & Software

Illustration of a home, drowning in money.
Illustration: iStockphoto

Wells disclosed in its latest corporate quarterly report (pdf) to the U.S. Security and Exchange Commission that it erroneously denied mortgage loan modifications or did not offer loan modifications to approximately 625 customers who were indeed eligible for them under various government-backed loan programs. Furthermore, some 400 of those affected customers eventually lost their homes to foreclosure.

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