Wells Fargo Home Mortgage, the nation’s leading originator of home loans to ethnic minority customers, has joined forces with talk show host and author, Tavis Smiley; and several financial affairs experts to provide free Wealth Building Strategies Seminars in eight cities across the country.
Additional seminars featuring other popular panelists also will be offered in 12 more cities, nationwide.
Wells Fargo is in the center of a lawsuit alleging the bank pushed high-risk mortgages to minorities. Mortgages which disproportionally have failed. According to legal documents and studies, Wells Fargo pushed black applicants into high-risk mortgages, even if their credit scores merited much lower interest rate traditional loans. Loan documents may have been falsified to grant loans to people who otherwise would not have qualified. According tot he Baltimore Sun as reported by TPM – Read the rest of this entry »