Sunday, October 10, 2010

Wells Fargo Agrees To $67M In Loan Modifications For NJ Homeowners Saddled With Wachovia, Golden West, World Savings "Pick-A-Payment" Loans

From the Office of the New Jersey Attorney General:

  • Attorney General Paula T. Dow announced [] that Wells Fargo Home Mortgage has agreed to provide New Jersey consumers with nearly $67 million in loan modifications and pay the state $3.98 million to resolve allegations that companies it acquired – Wachovia Corporation, Golden West and World Savings -- deceptively marketed adjustable rate mortgage loans.(1)

For the NJ AG press release, see Attorney General Announces Settlement with Wells Fargo Home Mortgage; Company Providing $67 Million in Loan Modifications, Paying State $3.98 Million.

Go here for the Settlement Agreement, and here for the Announcement of Restitution Fund.

(1) For announcements of "Pick-a-Payment" settlements in other states, see:

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