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Real Estate Rumors: Wells Fargo, Ceruzzi, PNC Bank

By Andrew McIntyre (June 8, 2020, 5:12 PM EDT) -- Wells Fargo Bank has initiated foreclosure proceedings against Southland Mall Properties, claiming that the owner missed a loan payment for Southland Mall in Cutler Bay, Florida, the South Florida Business Journal reported on Monday. The journal earlier this month reported that the mall could face foreclosure but in that earlier report did not name Wells Fargo, which represents a mortgage-backed securities trust that holds debt on the mall, according to the report. Southland Mall owes $65.16 million in principal as well as additional interest, the journal reported....

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