Whistleblowers Ignored, Punished by Lenders, Dozens of Former Employees Say

Posted by 4closureFraud on November 22, 2011 · 24 Comments 

Whistleblowers ignored, punished by lenders, dozens of former employees say

Mortgage fraud involved many lenders, former employees say

Darcy Parmer ran into trouble soon after she started her job as a fraud analyst at Wells Fargo Bank. Her bosses, she later claimed, were upset that she was, well, finding fraud.

Company officials, she alleged in a lawsuit, berated her for reporting that sales staffers were pushing through mortgage deals based on made-up borrower incomes and other distortions, telling her that she didn’t “see the big picture” and that “it is not your job to fix Wells Fargo.” Management, she claimed, ordered her to stop contacting the company’s ethics hotline.

In the end, she said, Wells Fargo forced her out of her job.

Parmer isn’t alone in claiming she was punished for objecting to fraud in the midst of the nation’s home-loan boom. iWatch News has identified 63 former employees at 20 financial institutions who say they were fired or demoted for reporting fraud or refusing to commit fraud. Their stories were disclosed in whistleblower claims with the U.S. Department of Labor, court documents or interviews with iWatch News.

Check out the rest of this in depth report here…

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4closureFraud.org

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Filed under bankruptcy, cdo, cds, Corruption, Fannie Mae, foreclosure, Foreclosure Fraud, Foreclosuregate, freddie mac, MERS, mortgage electronic registration system, Mortgage Fraud, securities fraud

Comments
24 Responses to “Whistleblowers Ignored, Punished by Lenders, Dozens of Former Employees Say”
  1. Bobbi Swann says:
    November 24, 2011 at 11:51 AM

    Me too, 2nd time I’m typing this. What gives Lisa????

    Report this comment

  2. talktotennessee says:
    November 23, 2011 at 12:23 PM

    A timer apparently has been placed on the reply section. Risking losing the audience here to migrate to blogs that allow comments. Reasonable answer would be to place a character limit as the major media blogs do. NYT, etc.

    Report this comment

  3. talktotennessee says:
    November 23, 2011 at 12:18 PM

    You know it! Whistleblowers either get paid off or trampled.
    Anyone notice the “time out” feature on our website or is it just me?

    Report this comment

  4. lvent says:
    November 22, 2011 at 10:56 PM

    They should say when they hire you see no evil, hear no evil, speak not evil…or your fired…

    Report this comment

  5. lies is all they tell says:
    November 22, 2011 at 10:17 PM

    whistle blowers come foward wells fargo has created a mess in florida call all florida foreclosure lawyers help us save our homes we are grateful for you. lets get them injail where they belong for what they have done to us

    Report this comment

  6. lies is all they tell says:
    November 22, 2011 at 10:15 PM

    trying to post big brother watching tired of repeating everything i write

    Report this comment

  7. Beth A. says:
    November 22, 2011 at 8:31 PM

    Why am I not surprised?

    Report this comment

  8. Fred Grammer says:
    November 22, 2011 at 7:21 PM

    Step forward whistle blowers, don’t let the bastards grind you down. Incidentally, like Banksters, like the facist Ofail adminstration, don’t tolerate whistleblowers.

    Report this comment

  9. lies is all they tell says:
    November 22, 2011 at 5:46 PM

    having trouble posting comments today

    Report this comment

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