Wells Fargo Seeks To Exit Home Equity Suit

Law360, Dallas (September 10, 2012, 5:06 PM EDT) -- Wells Fargo Bank NA on Friday asked a Texas federal judge to dismiss it from a putative class action by a group of homeowners claiming the bank violated a state limit on loan-to-value ratios by rolling past-due interest into modified home equity loans.

The bank said the Western District of Texas should decide in its favor based on an August ruling from the state’s Northern District. That court dismissed a similar homeowner suit against Carrington Mortgage Services and on Thursday denied a motion to reconsider its...
To view the full article, register now.