Wells Fargo to Be Focus of Ohio Foreclosure Fraud Probe

“These people think they can play by a different set of rules.”

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“It’s not just individuals who signed flawed affidavits. It’s a business model designed on fraud.”

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Bloomberg

Wells Fargo to Be Focus of Ohio Foreclosure Probe

Wells Fargo & Co. will be a focus of an investigation into foreclosure practices, Ohio Attorney General Richard Cordray told Bloomberg Television after the lender said it found flaws in court documents.

Wells Fargo said yesterday that it would submit supplemental affidavits to courts in about 55,000 foreclosure proceedings after finding some statements “did not strictly adhere to the required procedures.”

“These people think they can play by a different set of rules,” Cordray said in an interview today on Bloomberg Television’s “InBusiness with Margaret Brennan.” “It’s not just individuals who signed flawed affidavits. It’s a business model designed on fraud.”

Teri Schrettenbrunner, a spokeswoman for San Francisco- based Wells Fargo, said in an e-mail that none of the paperwork problems have led to foreclosures that shouldn’t have otherwise occurred and the problems aren’t related to the quality of loan data.

“We have chosen to submit supplemental affidavits out of an abundance of caution,” she said. “We intend to be responsive to General Cordray’s inquiries and look forward to addressing his concerns.”

Head over to Bloomberg to read more with video here…

No widespread problem here, right Wells?

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4closureFraud.org


I sure could use some…

Comments
4 Responses to “Wells Fargo to Be Focus of Ohio Foreclosure Fraud Probe”
  1. John R. says:

    Oh… oh… oh… my stomach is killing me… they’re breaking my heart… and they’re doing it by making me laugh to death! I just hope when they’re dead there’s a grave I can pee on.

  2. pelucheven says:

    That is just on those loans they were moving down the foreclosure conveyor belt, can you imagine the mess and fraud in the 7,000,000 homes that have already been foreclosed.

    They should be ordered toist all the loans in which they committed fraud and compensate those home owners for their crimes.

    That is just on the documentation. Now they have to procure the true a full accounting of each one of their loans and they shall include all the undisclosed fees and distributions that have gone into the single loan account, all the pledges and colaterallization

    All these loan are non compliant with the Truth in lending Act, they are all fraudulent. I hope the whistle blowers start coming out and letting everyone know how these crooks worked the malicious magic.

    If you currently have your money and do your banking with any of these BANKERS, you are finanacing your neighbors foreclosures all over the country.

    Make a stand and stop banking with the banksters

  3. J Glenn Lowe says:

    Let them fall hard for the consequences of their actions.

  4. the kid says:

    Our government, big business, & big banks motto is DENY DENY DENY

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