Wells Fargo agrees to settle over Wachovia home loans

12/15/2010 | Reuters

Wells Fargo, which acquired Wachovia in 2008, has agreed to settle a lawsuit over "pick-a-payment" mortgages, court documents show. The plaintiffs had argued that the home loans violated truth-in-lending laws because of a lack of disclosure that the loans' balance could actually increase. "Since our merger, we have been actively working with Wachovia pick-a-payment customers on modification options," said Mike Heid, co-president of Wells Fargo Home Mortgage.

View Full Article in:

Reuters

Published in Brief: