By Nate Raymond | Reuters
Wells Fargo & Co, (WFC.N) the largest U.S. mortgage lender, is set to go to trial on Monday as homeowners seek to recoup about $629 million for alleged overcharges by a company once owned by Wachovia Corp.
Jury selection is scheduled to begin in federal court in Manhattan in a long-running class-action lawsuit concerning HomEq Servicing, a subprime mortgage servicer.
The lawsuit was filed in 2001 on behalf of borrowers whose mortgages were owned or serviced by HomEq or the lender whose loans it was established to manage, Money Store.
