Real Estate/Development
Dec. 22, 2010
Bank to Modify $2 Billion in Mortgages
Wells Fargo Bank has agreed to provide mortgage loan modifications worth more than $2 billion to thousands of California homeowners and to pay $32 million to borrowers who lost their homes to foreclosure, in a settlement with California Attorney General Jerry Brown.
Daily Journal Staff Writer
In a deal struck with state Attorney General Jerry Brown, Wells Fargo bank will provide mortgage loan modifications worth more than $2 billion to thousands of California homeowners, and will pay $32 million to borrowers who lost their homes to foreclosure.
All of the loans in question were originated by World Savings and Wachovia banks. Wachovia acquired World Savings, a subsidiary of Golden West Financ...
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