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Wells Fargo Says Hundreds of Customers Lost Homes After Computer Glitch

Hundreds of people had their homes foreclosed on after software used by Wells Fargo incorrectly denied them mortgage modifications. From a report: The embattled bank revealed the issue in a regulatory filing this week and said it has set aside $8 million to compensate customers affected by the glitch. […] Wells Fargo said the computer error affected “certain accounts” that were undergoing the foreclosure process between April 2010 and October 2015, when the issue was corrected. About 625 customers were incorrectly denied a loan modification or were not offered one even though they were qualified, according to the filing. In about 400 cases, the customers were ultimately foreclosed upon.


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