Wells Fargo Bank Official Only Checked Date On Foreclosure Docs - Spokane, North Idaho News & Weather KHQ.com

Wells Fargo Bank Official Only Checked Date On Foreclosure Docs

WASHINGTON - A Wells Fargo official has acknowledged that he verified only the dates on up to 150 foreclosure documents he signed daily.

The executive made his admission in a May deposition involving a Washington state homeowner. He said he relied on co-workers to ensure that other information in the documents was correct. Three other lenders, Ally Financial Inc.'s GMAC Mortgage unit, Bank of America Corp. and JPMorgan Chase & Co. have halted tens of thousands of foreclosures after similar practices became public.

Wells Fargo & Co. said Sunday that it's confident foreclosure documents involving the bank are accurate. The San Francisco-based bank noted that the Washington homeowner's case was dismissed. The deposition was reported over the weekend by AOL Daily Finance and obtained by The Associated Press.

 

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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