Wells Fargo admits that it is incorrectly excluded in 545 homeowners who should help

Wells Fargo acknowledged Tuesday that, due to a calculation error, improperly imposed 545 affected owners after applying for help with their mortgages.

In general, 870 homeowners were relinquished for the help they rated, after more than half lost their homes, said Wells Fargo.

The recognition is sure to increase pressure on the San Francisco-based bank, which has been struggling to repair its image after a series of failed steps. He has already paid more than one billion dollars in fines to several regulators to open the false accounts that people did not want and unduly recovered thousands of cars.

Wells Fargo has repeatedly apologized for his erroneous steps but has not yet won many lawmakers, including the Democrats who called on his chief executive, Tim Sloan, to again testify to the actions of the bank. The bank is also under orders from the Federal Reserve to not grow more than its current $ 2 trillion assets until it meets its various problems.

In this case, Wells Fargo said an internal review found that the bank had denied help to hundreds of homeowners after the charges levied by the foreclosure lawyers were used improperly when the bank determined who to provide mortgage loans. The problem started in 2010 and was not corrected until April, the bank said.

The disclosure echoes the complaints of thousands of borrowers in the years after the financial crisis that banks were tedious to offer help with their collapse loans.

"It's really surprising that it took so long to find these problems and it is not clear that this is the end. A landlord in danger deserves better," said Alys Cohen, a lawyer for the staff at the National Consumer Law Center. "Why do we not know more about how this happened? And where are the regulators ensuring that the owners are totally compensated?"

Wells Fargo initially revealed the problem in August and said it would reserve $ 8 million or about $ 12,800 per client to address the problem. But on Tuesday the number of people who believe they were affected increased after an expanded review. The "substantial majority" of borrowers has already been contacted and "remediation" will be offered, the bank said.

The bank did not say how much more money, if any, expected to allocate to compensate additional borrowers.

"This effort to identify other instances in which customers may have experienced damages is ongoing, and it is possible that we may identify other areas of potential concern," said the bank in its SEC submission.

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