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Bank exec makes admission

WASHINGTON — A Wells Fargo executive acknowledged he verified only the dates on up to 150 foreclosure documents he signed daily.

The executive made his admission in a May deposition involving a Washington state homeowner. He said he relied on co-workers to ensure other information in the documents was correct.

Three other lenders, Ally Financial's GMAC Mortgage unit, Bank of America and JPMorgan Chase & Co. have halted tens of thousands of foreclosures after similar practices became public.

Wells Fargo & Co. is confident foreclosure documents involving the bank are accurate, and it has no plans to halt foreclosures, said Vickee Adams, a spokeswoman for the San Francisco-based bank. She noted the Washington homeowner's case was dismissed.

The growing questions about foreclosure documents could cause thousands of homeowners to contest foreclosures that are in the works or completed. But analysts say most homeowners facing foreclosure are still likely to lose their homes.

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