Wells Fargo Admits to Flaws in Thousands of Foreclosure Documents

By Kyle Chezum Updated on 10/28/2010

10/28/2010

Wells Fargo plans to file 55,000 foreclosure cases over again after detecting paperwork errors.  The errors have to do with the final review process for specific documents.

“The issues the company has identified do not relate in any way to the quality of the customer and loan data,” the bank says. “Nor does the company believe that any of these instances led to foreclosures which should not have otherwise occurred.”

Wells Fargo is one of the few major banks that hasn't halted foreclosures, and the bank claims that the motivation for refiling 55,000 foreclosures is caution, not guilt.

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