Defaulted Borrowers File Lawsuit Against Wells Fargo

The law firm of Harwood Feffer, LLP has filed a class action lawsuit against Wells Fargo Bank and its servicer, America's Servicing Company (ASC). The suit alleges that ASC induced borrowers to default on their mortgages by telling them they would not be eligible for a loan modification if they were current on payments. Harwood Feffer claims ASC was looking to boost its revenue by assessing additional penalties and fees and collecting interest on the nonperforming loans it services.

http://www.dsnews.com/articles/harwood-feffer-files-lawsuit-against-wells-fargo-2010-11-30