Daily Archives: April 12, 2016

Wells Fargo bilked taxpayers with false federally insured mortgages; $1.2 billion settlement and no suits go to prison

Yet, when WELLS FARGO’s senior management was repeatedly advised by its own quality assurance reviews of serious problems with the quality of the retail FHA loans that the Bank was originating, management failed to implement proper and effective corrective measures, leaving HUD to pay hundreds of millions of dollars in claims for defaulted loans.