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2012-11-18 — mortgagenewsdaily.com

``Schneiderman's letter said in part, "I am certain that you are aware that under the National Mortgage Settlement, as well as under pre-existing NY State law, Wells Fargo is required to adhere to strict timelines when evaluating a homeowner's request for a loan modification. Specifically, Wells Fargo is required to make a decision about a homeowner's loan modification request within 30 days of receiving a completed application package. Wells Fargo's decision to delay review will likely result in multiple violations of the National Mortgage Settlement."

He further demanded immediate confirmation that Wells Fargo will rescind its policy and that Strumpf and his legal representatives will take all necessary steps to communicate a retraction to homeowners who may have been improperly denied foreclosure mitigation assistance.''

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