Abigail Field: Insider Says Promontory’s OCC Foreclosure Reviews for Wells are Frauds. Brought to You by HUD Sec. Donovan
By Abigail Field, a freelance writer and attorney who blogs at Reality Check
U.S. Housing Secretary Shaun Donovan has embarrassed himself yet again. This time, though, he’s gone in for total humiliation. See, he praised the bank-run Office of the Comptroller of the Currency’s (OCC) foreclosure reviews as an important part of the social justice delivered by the mortgage “settlement“. But thanks to an insider working on an OCC review, we know that process is a sham. Worse, the insider’s story shows that enforcement of the settlement is likely to be similar, which is to say, meaningless. Doesn’t matter how pretty the new servicing standards are if the bankers don’t have to follow them.
Let’s start with Donovan’s sales pitch for the OCC reviews:
“For families who suffered much deeper harm — who may have been improperly foreclosed on and lost their homes and could therefore be owed hundreds of thousands of dollars in damages — the settlement preserves their ability to get justice in two key ways.
First, it recognizes that the federal banking regulators have established a process through which these families can receive help by requesting a review of their file. [ACF: That’s the OCC process] If a borrower can document that they were improperly foreclosed on, they can receive every cent of the compensation they are entitled to through that process.
Second, the agreement preserves the right of homeowners to take their servicer to court. Indeed, if banks or other financial institutions broke the law or treated the families they served unfairly, they should pay the price — and with this settlement they will. [bold throughout mine]
Now, the justice of the settlement has been debunked many times over. And David Dayen debunks Donovan’s OCC pitch here. What’s important is that Bank Housing Secretary Donovan wants you to believe the Wells Fargo OCC process is a meaningful contribution to holding bankers accountable and compensating victims.
Catch the rest here…
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Oh by the way the one’s for GMAC are the same.Had to explain to them that I went to court and up against US Bank and thier attorney not GMAC.Would they like to straighten out for thier records?You kniow so everyone is on the same page?Not so much!!!Now I know what a scam this all was.Told them don’t believe I’ll be participating thanks anyway.Thier reply :Don’t you want your 2000.00 for your house.My reply:No dude thats not the way I roll.You must need it more than I do so you can have it and oh by the way tip for you ….Get a real job so you can look in the mirror every morning and have a clear conscience.
Posted on February 13, 2012 by Neil Garfield
Barry Fagan v Wells Fargo Bank re: Consumer Financial Protection Bureau Complaint
Information about the company
Wells Fargo Bank NA
United States
Wells Fargo Bank has fraudulently altered Barry Fagan’s Deed of Trust and the attached expert opinion dated 1/12/2012 from Forensic Document Examiner Dr. Laurie Hoeltzel specifically explains that the handwritten page 4 has been altered on two separate versions of that original Deed of Trust. Barry Fagan has recorded all 3 versions of the same deed of trust with the Los Angeles Registrar Recorders Office on November 29, 2011 as instrument no. 2011-1608398.
The recorded Notice of Pendency of Action showing three different versions of that same July 9, 2007 Deed of Trust as originally recorded under instrument no. 2007-1622100. Judge Tarle, of The Superior Court of California, West District has taken Judicial Notice of that Recorded Document. Barry Fagan has submitted credible evidence from a forensic document examiner with over 20 years of experience that multiple fraudulent alterations have occurred on the “Handwritten Number page 4” which is located on page 3/4 of the Deed of Trust. All of the Deeds of Trust now reflect an entirely different handwritten NUMBER 4, and one of the exhibits also has a snake like line drawn on it, which is not present on the other two exhibits.
C.P.A. Shawn P. Adamo stated: “It is my professional opinion that the altered deed of trust is concealing an irrevocable assignment, and explains why Wells Fargo is unable to produce loan level accounting concerning Mr. Fagan’s loan. Wells Fargo claims that any level of detail relating to Mr. Fagan’s mortgage is non- existent. As a result, CPA Shawn Adamo provided two expert opinions, (one an affidavit signed under penalty of perjury dated January 24, 2012 and the other is a Feb. 6, 2012 complaint letter sent to various regulatory agencies) from C.P.A Shawn Adamo explaining that Wells Fargo Bank has failed to provide a loan level balance sheet accounting and is concealing the fact that they do not own Barry Fagan’s loan.
Additionally, forensic document Expert Dr. Laurie Hoeltzel has declared under penalty of perjury on January 2, 2012 that Wells Fargo Bank is robo-signing Discovery Responses by using multiple authors of the name Rhonda Bernard Thomas.(see attached declaration from Dr. Laurie Hoeltzel) I have also attached an affidavit from from forensic loan analyst/expert Javiar Taboas dated July 14, 2011 who is specifically stating that Wells Fargo securitized/sold Barry Fagan’s note and is fraudulently claiming continued ownership without any proof whatsoever.(See attached affidavit of Expert Javiar Taboas) Also attached is an illegally prepared Declaration of Default which is not actually signed by a natural person, but is signed by Wells Fargo Bank NA. This is a blatant California Civil Code Section 2923.5 and 2924 violation in that this illegally prepared document set in motion the entire illegal Non-Judicial Foreclosure.
Also attached is a letter from Wells Fargo Bank dated December 5, 2011 and states that Wells Fargo Bank is reviewing Barry Fagan’s file and will respond on December 15, 2016 (THAT’S 5 YEARS FROM NOW!). Barry Fagan claims that this was a form of retaliatory contact. Wells Fargo is a criminal enterprise that is attempting to illegally foreclose on my primary residence by way of fraudulently altered documents, robo-signed discovery responses, invalid Declaration of Default, no loan level accounting and Barry Fagan’s loan file needs to be investigated at the highest level within your organization to see that a crime has actually occurred! The law offices of Kutak Rock LLP located in Irvine, California needs to have Barry Fagan’s NOTE and Deed of Trust subpoenaed so that your own CFPB organization can inspect those documents to see that they have indeed been fraudulently altered and photo-shopped. Please also visit http://www.fedup99.com/following-barry-fagan/ to see that even Barry Fagan’s loan application was fraudulently prepared by Wells Fargo private banker Dalia Warren.
Complaint history
A Consumer Financial Protection Bureau specialist is reviewing your complaint and may contact you and Wells Fargo Bank NA to collect additional information. This could be a lengthy process, so we ask for your patience.
Thank you,
Consumer Financial Protection Bureau
http://www.consumerfinance.gov
(855) 411-CFPB (2372)
Barry Fagan v Wells Fargo Bank Re REQUEST for JUDICIAL NOTICE of a RELATED CASE/REPORT Office of the Assessor-Recorder San Francisco Report as Sponsored by Phil Ting Assessor-Recorder for San Francisco Entitled Foreclosure in California a CRISIS OF COMPLIANCE FEBRUARY 2012
http://www.scribd.com/doc/82105072/Barry-Fagan-v-Wells-Fargo-Bank-Re-REQUEST-for-JUDICIAL-NOTICE-of-a-RELATED-CASE-REPORT-Office-of-the-Assessor-Recorder-San-Francisco-Report-as-Sponsor
Comes now Plaintiff Barry S. Fagan herewith serves upon Defendants and their Attorneys of record his Request for Judicial Notice of a related case/report issued from the Office of the Assessor-Recorder San Francisco Report as sponsored by Phil Ting Assessor-Recorder for San Francisco entitled FORECLOSURE IN CALIFORNIA A CRISIS OF COMPLIANCE SAN FRANCISCO | FEBRUARY 2012 as prepared by Aequitas Compliance Solutions, Inc.
This is an official act of the Office of the Assessor-Recorder San Francisco Report as sponsored by Phil Ting Assessor-Recorder for San Francisco and Plaintiff hereby requests that the Court take Judicial Notice of the following AEQUITAS REPORT dated February 2012 and attached in its entirety as Exhibit A with this Request For Judicial Notice. That report specifically concludes that an audit by San Francisco county officials of about 400 recent foreclosures there determined that almost all involved either legal violations or suspicious documentation and that in a significant number of cases that 45 percent of the foreclosures, properties were sold at auction to entities improperly claiming to be the beneficiary of the deeds of trust. In other words, the report said, “a ‘stranger’ to the deed of trust,” gained ownership of the property; as a result, the sale may be invalid, it said. In 6 percent of cases, the same deed of trust to a property was assigned to two or more different entities, raising questions about which of them actually had the right to foreclose. Many of the foreclosures that were scrutinized showed gaps in the chain of title, the report said, indicating that written transfers from the original owner to the entity currently claiming to own the deed of trust have disappeared.
The issues and findings are intimately related to the case at bar and is authorized under California Evidence Code § 452.