Court Rules Against Wells Fargo on Mortgage Allegations

June 10, 2014
Associated Press 
mortgage lending news
A U.S. appellate court has ruled that Wells Fargo must face new allegations of mortgage wrongdoing despite an existing settlement under which it has already paid out $5 billion.

The latest charges brought by the government involve the bank's origination and underwriting of thousands of individual, federally backed home loans. While Wells argued that the 2012 deal relieved it of future liability concerning false annual certifications to the government, the court unanimously decided otherwise.

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