Shirley Wynn of Miami wrote to Coral Gables Federal Savings and Loan last July to tell the bank that it made a mistake in computing the interest due on her mortgage, overcharging her $1,464 in the course of three years. The bank apologized and refunded the overpayment. Wynn was one of the lucky ones. According to a congressional review and a study by a former federal auditor, John Geddes, thousands of others across the nation with adjustable-rate mortgages may have been overcharged. Basing his estimate on an examination of 7,000 loan accounts, Geddes says a third of the outstanding ARM loans...
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