SecurityNational Completes $4.3M Settlement with Wells Fargo

SecurityNational Mortgage in Salt Lake City has made its final payment on a $4.3 million financial crisis-era settlement with Wells Fargo.

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The San Francisco-based lender said in a press release Tuesday that it made the final required payment on Dec. 29, completing its obligations to the bank.

The settlement, which was agreed to in April 2011, resolved claims that SecurityNational misrepresented the quality of mortgages it sold to Wells during the downturn.

News of the completed settlement comes just one day after SecurityNational said it reached a settlement with Bank of Americaover a similar dispute involving loan purchase agreements.

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