Attorney General Pam Bondi has given Wells Fargo a Wednesday deadline to respond on how the bank plans to deal with complaints raised by her office, of possible violations of the National Mortgage Settlement.
Bondi’s letter to Wells Fargo follows a sternly worded one last week to Bank of America, which detailed homeowner complaints and slights to Bondi’s staff when they have tried to intervene on behalf of homeowners, palmbeachpost.com reports.
“Wells Fargo committed at the (May 23) meeting to provide the states more detail about the steps banks will take in response to complaints and to improve compliance with the settlement’s servicing standards,” Bondi wrote in her letter to David Moskowitz, executive vice president and deputy general counsel for Wells Fargo. “To that end, I ask that you let us know by Wednesday, June 12, when we may expect a response from Wells Fargo regarding how you will be substantively addressing our concerns.”
Bondi’s letter to Wells Fargo also raised concerns of poor communication with homeowners attempting to get a loan modification and inadequate information given to Bondi’s staff when complaints are investigated, palmbeachpost.com also reported.
Bondi was a lead negotiator of the $25 billion national bank settlement and is a member of the compliance oversight committee.
Read more here on banks’ disregard for homeowners and Bondi’s deadline.
