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Kurt Lofrano. Mark Lennihan/AP. Wells Fargo just agreed to pay $1.2 billion for improper mortgage-lending practices. The US Department of Justice (DOJ) on Friday announced that it had settled civil mortgage-fraud claims against the San Francisco-based bank related to residential home-mortgage loans it sold between 2001 and 2008.
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The states also alleged wells fargo “improperly charged” costs for force-placed insurance on more than 2 and fees on mortgage borrowers for extending a rate lock. “This.