About A class-action law suit has been filed against Wells Fargo and its servicing company, American Servicing Company. The lawsuit, filed in the United States District Court for the Northern District of California, alleges that Wells Fargo and ASC induced borrowers to default on their mortgages.
The borrowers claim they were told that if they were current on payments they would not be eligible for a loan modification.
They further claim that this allows Wells and ASC to charge higher fees and late charges.
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