Skip to main content

Wells Fargo Servicing Division Sued Over Deceptive Loan Mod Practices
Nov 24, 2010

The law firm of Harwood Feffer LLP has announced that it has filed a class action lawsuit against Wells Fargo Bank NA and its loan servicing division, America's Servicing Company (ASC), for fraudulent and deceptive practices related to loan modifications. The suit, filed in the United States District Court for the Northern District of California, Forster, et al. v. Wells Fargo, et al., Index. No., alleges that ASC improperly and unlawfully induced borrowers to default on their mortgages by informing borrowers that loan modifications would not be considered for those individuals who were current on their payments. By making loan default a pre-requisite for modification, without regard to whether a borrower otherwise qualified for a modification due to financial hardship, or ASC caused borrowers to unnecessarily suffer ruined credit and subjected them to significant fees, penalties and interest. As a loan servicer, ASC generates a significant portion of its revenue from fees, penalties and interest collected on the non-performing loans it services. Harwood Feffer's clients believe that it is in ASC's financial interest to avoid, delay and deny loan modifications and to pursue foreclosures because doing so will lead to increased revenue. For more information, visit
Nov 24, 2010
A License Renewal Program That Works

Your renewal season will be here before you know it. Do you have a program in place?

Housing Industry Groups Raise Concerns About BABA

24 organizations send letter to Biden Administration saying act could negatively affect development of affordable housing.

MISMO Seeks Comment On Updated Industry Loan Application Dataset

Wants feedback on the latest version of its Life of Loan Process Model. 

U.S. 2nd Circuit Appeals Court Rules CFPB Constitutional

Decision comes as Supreme Court prepares to review 5th Circuit Court's opposite ruling on the bureau.

Mar 23, 2023
ICE, Black Knight Officially Respond To FTC Bid To Block Merger

Companies say planned sale of Black Knight's Empower LOS resolves any antitrust concerns.

Fed OKs 9th Rate Hike In 12 Months

Boosts federal funds rate by another 25 basis points.