Wells Fargo said Wednesday that it had made paperwork mistakes and it plans to refile foreclosure documents in 55,000 cases by mid-November, but the company said the mistakes were technical and it doesn’t plan to halt foreclosures.
Unlike other major lenders, Wells Fargo had previously refused to suspend foreclosures. It continued to maintain that the errors were inconsequential. “We don’t believe that there are instances in which the foreclosures would not have occurred otherwise,” said Teri Schrettenbrunner, a Wells Fargo spokeswoman.
In depositions, two Wells Fargo employees have said they signed large numbers of documents daily without verifying their accuracy.
Source; The Associated Press, Alan Zibel (10/27/2010)