Attorney General Edmund G. Brown Jr. has announced that Wells Fargo has agreed to provide loan modifications worth more than $2 billion to thousands of California homeowners with "pick-a-pay" loans and to pay an additional $32 million to thousands of borrowers who lost their homes through foreclosure. None of the loans were made by Wells Fargo. All were originated by World Savings and Wachovia, banks Wells Fargo acquired.Click to continue

New Jersey Attorney General Paula T. Dow has announced that Wells Fargo Home Mortgage has agreed to provide New Jersey consumers with nearly $67 million in loan modifications and pay the state $3.98 million to resolve allegations that companies it acquired—Wachovia Corporation, Golden West and World Savings—deceptively marketed adjustable-rate mortgage (ARM) loans.Click to continue

Colorado Attorney General John Suthers has announced that Colorado and seven other states will receive $23.7 million from Wells Fargo to settle allegations surrounding deceptive advertising and problematic lending practices of Wachovia and World Savings when offering an option adjustable-rate mortgage (ARM) loan known as a “Pick-a-Pay loan.” Wells Fargo acquired both banks in late 2008. Colorado will receive $900,000 under the multistate settlement.Click to continue

A new program for homeowners who are struggling to make their mortgage payments is finally giving relief to borrowers who are “upside down” in their homes. The WWWF program for Wachovia, Wells Fargo and World Savings borrowers, is designed to help homeowners sell their homes, even if they owe more than the home is worth.Click to continue