After being named as a defendant in a former employee’s lawsuit over rate-lock extension fees, a class action has been filed against Wells Fargo & Co. over the same allegations.
Last month, Mauricio Alaniz filed a lawsuit against the San Francisco-based company. Alaniz is a former Wells Fargo mortgage banker in Beverly Hills, California.
According to that lawsuit, he was fired after he reported that records were falsified so that it appeared borrowers were responsible for delays that led to rate-lock extension fees.
Source: Mortgage Daily