Only dates checked on foreclosures
Washington ? A Wells Fargo executive has acknowledged that he verified only the dates on up to 150 foreclosure documents he signed daily.
The executive made his admission in a May deposition involving a Washington state homeowner. He said he relied on co-workers to ensure that other information in the documents was correct.
Three other lenders, Ally Financial Inc.’s GMAC Mortgage unit, Bank of America Corp. and JPMorgan Chase & Co. have halted tens of thousands of foreclosures after similar practices became public.
Wells Fargo & Co. is confident that foreclosure documents involving the bank are accurate, and it has no plans to halt foreclosures, said Vickee Adams, a spokeswoman for the San Francisco-based bank. She noted that the Washington homeowner’s case was dismissed.