Housing Nightmare Upends Family, Enriches Investor : NPR: "his foreclosure story is complicated, and assigning blame is not straightforward. Familia and Solon took on more debt than they could afford. But Cohen says they were encouraged to do so by their California-based subprime mortgage lender, Fremont Investment and Loan, which is now defunct.
'They were given two mortgages, and those mortgage payments were almost $5,000 a month, [which was] more than their income,' she says.
Fremont Investment and Loan was later sued by the attorney general of Massachusetts for deceptive loan practices, and the company went bankrupt and shut down.
Wells Fargo's Offer
By then, the company's loans had been securitized and sold to investors. Wells Fargo has been servicing some of those loans, including the one made to Solon and Familia."