Ohio Attorney General Richard Cordray is warning mortgage servicers not to rush foreclosure fixes in the wake of the recent robo-signing scandal. The AG also said that Wells Fargo can't simply fix false testimony by submitting new affidavits — intentions the bank announced last week.
"The suggestion by Wells Fargo and its colleagues at several other national firms that they can cure fraudulent testimony by simply refiling new affidavits and continuing to proceed toward foreclosures shows that they simply don't recognize the seriousness of the problem," Cordray said.
Wells Fargo said in statement about the affidavit substitution that "out of abundance of caution and to provide an additional level of assurance regarding its processes, the company is electing to submit supplemental affidavits for approximately 55,000 foreclosures which are pending before courts in 23 judicial foreclosure states."
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