It seems Wells Fargo does not see the need to halt its ongoing foreclosures like other financial institutions in the United States have done and are they are reportedly  using “robo-signers”.

Most banks and financial institutions in the United States including the Bank of America have halted their foreclosure exercise after it emerged that the companies were doing what is called “Robo-signing.”

Robo-signing is word used to describe signing on the foreclosure documents without reading the foreclosure details. Most of the affected banks’ employees were signing hundreds of documents daily without reading the document.

The fact is Wells Fargo has been accused of robo-signing as well. It is alleged that the bank’s employees are signing some 500 documents daily and that can only mean one thing, the documents are not read.

However the bank has not shown any intention to halt the process and review it.

Last week, the Bank of America announced that it is freezing foreclosures in all the 50 states in the United States. The bank announced that the move was to help them re-examine the documents again.

It is not clear why Wells Fargo has failed to halt the process but analysts believe that most homeowners will lose their house anyway, whether robo-signed or thoroughly checked.