WSJ: Defunct NJ ‘Foreclosure Mill’ Sues Wells Fargo Over Robo-Signing

Hats of a Robo-signer

Defunct Law Firm Sues Wells Fargo Over Foreclosure Work

A New Jersey law firm that helped Wells Fargo Bank N.A. foreclose on thousands of homeowners has sued the lender, saying the bank’s delayed efforts to fix its robo-signing problems led the law firm to collapse.

Lawyers for the Zucker, Goldberg & Ackerman law firm, which laid off most of its 335 workers last year, are accusing Wells Fargo of taking several years to comply with a 2010 New Jersey Supreme Court order that called for lenders to show that they were properly submitting mortgage details before foreclosing on a property.

The order, which required banks to submit their internal foreclosure policies, paralyzed foreclosures throughout the state. The average time for the foreclosure process—from filing the lawsuit to a sheriff’s sale—grew from about 200 days to about 1,000 days, according to documents filed in U.S. Bankruptcy Court in Newark.

Wells Fargo’s delay in responding to the court order caused financial problems for Zucker, Goldberg & Ackerman, according to the lawsuit. Under its agreements with mortgage lenders, the law firm would advance most of the foreclosure-related expenses and be reimbursed later, usually after a judgment or sale, court papers said.

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4 Responses to “WSJ: Defunct NJ ‘Foreclosure Mill’ Sues Wells Fargo Over Robo-Signing”
  1. Mike says:

    It didn’t stop them from foreclosing on people’s homes until 2015 when they filed for bankruptcy knowing they still had fraudulent documents from every other banks they represented. I hope the courts take judicial notice of that. Never mind their in on it too. They still foreclose in New Jersey with documents created in 2010. The judges overlook what the Supreme Court put in place. I can’t believe the balls of this company. How does it feel to have the banks fuck you too you judas bastards. Rot in hell all you lawyers who represent the banks knowing you are helping banks commit fraud on the people and fraud on the court. You should be ashamed that you brought you’re profession to such a low level.

  2. Tennessee Victim says:

    Crocodile tears for the robo law firm that churns out foreclosures. Like Wilson and Associates in Arkansas and TN, they take little or NO responsibility for verifying they have any right to foreclose, churning them out well. . . . ..sort of like a well oiled conveyor or robo belt. When contacted they referred homeowners back to the servicer with the lament they are helpless to make any call much less delay a foreclosure date!. Follow the money, these suits do nothing for the victims defrauded, cheated out of their homes or the states registers or recorders cheated out of recording fees.. Having been through something similar, it is fact that neither law firm or servicer allowed truth, reality or legal rights deter them from stealing people’s homes in formal foreclosure. Particularly in non-judicial states where people who can’t afford to file suit have NO legal rights!

  3. mike Drouin says:

    The whole problem with this is that the ” Lender ” never met the criteria of lender . All the Homeowners involved in this scam were never in a mortgage !! They were in an illegal securities contract funded a totally different way other than through the alleged Lender , and since they want to keep that their big secret in order to keep getting away with their scam , more than likely they will settle , and avoid litigation . This is the reason they needed so much robo-signing ! The Mortgages are the fraud !!!!!!!

    • Tennessee Victim says:

      “The mortgages are the fraud!!!” Amen to that.
      Most people NEVER know their mortgages were not recorded and.or were ‘creations’ after the fact.

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