Wells Fargo Agrees To $67M In Loan Modifications For NJ Homeowners Saddled With Wachovia, Golden West, World Savings "Pick-A-Payment" Loans

From the Office of the New Jersey Attorney General:

• Attorney General Paula T. Dow announced [] that Wells Fargo Home Mortgage has agreed to provide New Jersey consumers with nearly $67 million in loan modifications and pay the state $3.98 million to resolve allegations that companies it acquired – Wachovia Corporation, Golden West and World Savings -- deceptively marketed adjustable rate mortgage loans.(1)

For the NJ AG press release, see Attorney General Announces Settlement with Wells Fargo Home Mortgage; Company Providing $67 Million in Loan Modifications, Paying State $3.98 Million.

Go here for the Settlement Agreement, and here for the Announcement of Restitution Fund.

(1) For announcements of "Pick-a-Payment" settlements in other states, see:

• Florida: Attorney General Reaches Agreement with Wells Fargo Providing More Than $388 Million in Mortgage Relief to Florida Homeowners (go here for Settlement Agreement with State of Florida),
• Arizona: Wells Fargo, Arizona homeowners settle mortgage-loan case ($150+ million in mortgage relief to homeowners who obtained the adjustable-rate loans through Wachovia Corp. and Golden West Corp.),
• Colorado: Colorado settles with Wells Fargo over ‘Pick-a-Pay’ mortgages.