Business ProfileforWells Fargo Home Mortgage
Current Alerts For This Business
The order requires the bank to take comprehensive corrective actions to improve the execution, risk management and oversight of the bank's loss mitigation program. The order restricts the bank, while the order is effective, from acquiring certain third-party residential mortgage servings and requires the bank to ensure that borrowers are not transferred out of the bank's loan servicing portfolio until remediation is provided, except for an investor pursuant to a contractual right.
The OCC also assessed a $250 million-dollar civil penalty against Wells Faro Bank, N.A., based on the banks violations of the 2018 Complaint Consent Order, https://www.occ.gov/static/enforcement-actions/ea2018-025.pdf.
The bank neither admits or denies any nor denies the allegations filed by The OCC.
The OCC penalty will be paid to the U.S. Treasury.
At-a-glance
Related Categories
Overview
Existing Loans Customer Service - 800-357-6675
Business Details
This is a multi-location business.
- Headquarters
- PO Box 10335, Des Moines, IA 50306-0335
- BBB File Opened:
- 8/26/1992
- Years in Business:
- 60
- Business Started:
- 1/1/1964
- Business Incorporated:
- 10/13/1964 in CA, USA
- Type of Entity:
- Corporation
- Business Management
- Mark Elliot, Senior Vice President
- Additional Contact Information
Phone Numbers
- (877) 937-9357Other Phone
- (877) 937-9357
Customer Complaints
0 Customer Complaints
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