Wells Fargo wrongly hit homebuyers with fees to lock in mortgage rates

Wells Fargo is in trouble once again — this time for fees charged to customers trying to nail down a mortgage.

The scandal-ridden bank said on Wednesday that some mortgage borrowers were inappropriately charged for missing a deadline to lock in promised interest rates, even though the delays were Wells Fargo’s fault.

Wells Fargo said it will reach out to all 110,000 customers who were charged “mortgage rate lock extension fees” between September 2013 and this February. The bank promised to refund customers “who believe they shouldn’t have paid those fees.”

Read on.

2 responses to “Wells Fargo wrongly hit homebuyers with fees to lock in mortgage rates

  1. Pingback: Wells Fargo Bank admits to charging over 100,000 customers with inappropriate fees for locking in mortgage rates | California freelance paralegal

  2. Pingback: Wells Fargo wrongly hit homebuyers with fees to lock in mortgage rates - Securitization & Mortgage Audit

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