Wells Fargo Accused of Discrimination Against Minority Foreclosures

Tuesday, The National Fair Housing Alliance, a group of nonprofit housing advocates, filed a discrimination complaint against Wells Fargo.

The complaint is against San Francisco-based Wells Fargo and Co. and Wells Fargo Bank with the U.S. Department of Housing and Urban Development, according to The Washington Post.

The claims allege the bank is neglecting foreclosed properties in Latino areas and paying better attention to foreclosed homes in white neighborhoods, as reported by Fox News.

The Federal Fair Housing Act requires all banks, investors, servicers and other parties to market and maintain homes without regard to race or ethnicity.

In lieu of the recent $25 billion settlement, Wells Fargo is now, not only accused of unlawfully placing homeowners from Mortgage Default into Foreclosure, and other unlawful foreclosure help practices, but also discriminating against specific groups of homeowners.

The group began investigations in 2010 on more than 200 properties in: Philadelphia, Washington, Atlanta, Baltimore, Dallas, Dayton; Ohio, Miami and Fort Lauderdale and Oakland; Calif.

“Bank-owned homes in white communities were treated in a “far superior manner,” the complaint alleges , The Washington Post. Those homes were 33 percent more likely to be marketed with a professional “For Sale” sign than homes in black or Hispanic communities.”

Homeowners who need help with foreclosure and to restructure their mortgages are not out of luck. The Mortgage Forensic Audit can uncover Mortgage Fraud and be used as legal leverage to retrieve the modification you need to save your home.

Call The Foreclosure Law Center today, for a FREE consultation. 1-888-600-5505

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3 thoughts on “Wells Fargo Accused of Discrimination Against Minority Foreclosures

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