Share this article

print logo

WASHINGTON — Wells Fargo & Co., the controversy-battered big bank, has a new problem — this time directly affecting mortgage applicants. Last week a first-time home buyer filed a class action suit against the company, alleging widespread abuse of a procedure well known to most mortgage borrowers: Interest rate “locks.” The suit alleges that Wells Fargo engaged in “a…

WASHINGTON -- If you’ve been waiting for the long-anticipated news that the two dominant players in the home mortgage arena -- Fannie Mae and Freddie Mac -- finally have decided to overhaul their outdated credit scoring systems to expand homeownership opportunities for a broader range of consumers, sorry. Your wait just got a lot longer. There will be no modernization o…