Financial Times: Wells Fargo May Have Used "Robo-Signers"

The Financial Times has obtained documents that show officials at Wells Fargo may also have engaged in using "robo-signers," the same problem that has caused multiple big banks to halt foreclosures.

October 14, 2010

The Financial Times has obtained documents that show officials at Wells Fargo may also have engaged in using "robo-signers," the same problem that has caused multiple big banks to halt foreclosures.

Attorneys general across the country have launched investigations into the practice of bank officials signing foreclosure paperwork without direct knowledge that the information in it was correct.

GMAC, Bank of America and JPMorgan Chase have all put a moratorium on foreclosures, but Wells Fargo so far has not.

The Financial Times has more on the story.

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