Ex-loan officer claims Wells Fargo targeted black communities for shoddy loans

Ex-loan officer claims Wells Fargo targeted black communities for shoddy loans

The machine made her rich — the questions came later. Now, she has recast herself as a crusader for consumers in a battle that has pitted her against the system she once pushed.

The 51-year-old Maryland resident has emerged as a defining character in the ongoing saga of the country’s housing crisis, from the headiest days of the bubble to the current flood of foreclosures. Her scathing affidavit detailing “the stagecoach to hell” at Wells Fargo is a key part of the groundbreaking lawsuit filed by the city of Baltimore against her former employer. The case spawned copycats across the nation, and federal regulators launched investigations mirroring its allegations.

The machine made her rich — the questions came later. Now, she has recast herself as a crusader for consumers in a battle that has pitted her against the system she once pushed.

The 51-year-old Maryland resident has emerged as a defining character in the ongoing saga of the country’s housing crisis, from the headiest days of the bubble to the current flood of foreclosures. Her scathing affidavit detailing “the stagecoach to hell” at Wells Fargo is a key part of the groundbreaking lawsuit filed by the city of Baltimore against her former employer. The case spawned copycats across the nation, and federal regulators launched investigations mirroring its allegations.

Rest here…

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4closureFraud.org

Comments
5 Responses to “Ex-loan officer claims Wells Fargo targeted black communities for shoddy loans”
  1. David Robert says:

    Judges are not allowing Forensic audits, there is a BIG difference between a Securitization and Forensic audit. However you need much more than just evidence of Securitization, you really need everything you can find, including, Per-Diem, Robo-Signing, Chain of Title, Notary MIsconduct, MERS, Insurance Claim, Underwriting, Title Errors, placing the Note into the Trust for Securitization by the cut off date, and much more. That’s were our audit company shines. We produce and find all these other issues that the other audit companies overlook. You get what you pay for.

    Once you have a kick ass audit the question is WHAT NOW? What do I do with it? We work with and refer our clients to a company who has been 100% successful in negotiating an Intelligent Finical Settlement in 2011 and 2012 on behalf of the client.

    Dave
    FAS
    (888) 328-4877

  2. David Robert says:

    Judges are not allowing Forensic audits, there is a BIG difference between a Securitization and Forensic audit. However you need much more than just evidence of Securitization, you really need everything you can find, including, Per-Diem, Robo-Signing, Chain of Title, Notary MIsconduct, MERS, Insurance Claim, Underwriting, Title Errors, placing the Note into the Trust for Securitization by the cut off date, and much more. That’s were our audit company shines. We produce and find all these other issues that the other audit companies overlook. You get what you pay for.

    Once you have a kick ass audit the question is WHAT NOW? What do I do with it? We work with and refer our clients to a company who has been 100% successful in negotiating an Intelligent Finical Settlement in 2011 and 2012 on behalf of the client.

    Dave
    FAS
    (888) 328-4877

  3. Ken Hansen says:

    Doug Gansler had a chance to go after Wells on more than one occasion. Pick a payment would have been illegal to begin with if we had any regulations at all.

  4. John says:

    O’siyo,
    When the government gave the Indians individually some land, they didn’t understand all that went along with it.
    The banks made a big deal out of it and some were given big mountain side parcels and made to feel so lucky and fortunate.
    They even gave them some money too. Banks made them loans to buy a few things. Everyone was so helpful and nice!
    It didn’t take long for all of it to revert to the banks as they were the ones that drew up the papers for the Indians to put their mark on ( In English of course, not Cherokee) and had clauses in there the Indians never heard of, much less understood.

    End result,, they all lost their lands and had to move away from their homelands they had occupied for thousands of years.

    We haven’t come far from that today have we.

    Wado!

  5. Bgirlaw says:

    This article is in reference to Beth Jacobsen, who now has a company called PACE that does forensic audits on mortgages. We had one done on our house when the mortgage company ASC tried to foreclose on us, but was unsuccessful (in Virginia). Beth and Doug were both a BIG help in helping us do this. I would highly recommend her and/or PACE.

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