Wells Fargo Accused Of Fraudulently 'Correcting' Loan Dates

Law360 (July 28, 2020, 10:43 PM EDT) -- Wells Fargo was hit with a proposed class action in Florida federal court Tuesday alleging the bank fraudulently changed the maturity dates on thousands of mortgages that secured home equity loans without informing its customers, damaging the value and marketability of their homes.

According to the complaint filed by Florida residents Philip and Ingrid Tippett, Wells Fargo Bank NA committed the allegedly fraudulent actions after realizing it had made a critical error by failing to set these second mortgages to terminate after the final maturity date for the loans.

Allowing the original dates to stand would have left the debts unsecured...

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