Wells Fargo Just Reported The Worst Mortgage Number Since The Financial Crisis

Wells Fargo Just Reported The Worst Mortgage Number Since The Financial Crisis When we reported Wells Fargo’s Q3 earnings back in October, we drew readers’ attention to one specific line of business, the one we dubbed the bank’s “bread and butter“, namely mortgage lending, and which as we then reported was “the biggest alarm” because … Read more

Florida: Couple May Lose Home for Refusing to Pay Association’s $25 Late Fee

Florida: Couple May Lose Home for Refusing to Pay Association’s $25 Late Fee Foreclosure trial concludes in case of West Palm Beach townhouse owner who faces losing home over $25 late fee What started with a $25 late fee three years ago for townhouse owner David Silva has grown to a foreclosure fight over a … Read more

DEUTSCHE BANK NAT’L TRUST CO. v. BURKE: Neither Deutsche Bank Nor Any Mortgage Servicer Acting On Its Behalf Has The Right to Foreclose

DEUTSCHE BANK NAT’L TRUST CO. v. BURKE: Neither Deutsche Bank Nor Any Mortgage Servicer Acting On Its Behalf Has The Right to Foreclose ~ FINAL DECLARATORY JUDGMENT STEPHEN Wm SMITH, Magistrate Judge. Judgment is rendered in favor of defendants John and Joanna Burke against plaintiff Deutsche Bank National Trust Co., as Trustee of the Residential … Read more

IN RE Baroni: California Court Holds That HELOCS Are Not Negotiable Instruments Under the UCC

IN RE Baroni: California Court Holds That HELOCS Are Not Negotiable Instruments Under the UCC From the Opinion… The HELOC Is Not a Negotiable Instrument Section 104.3104 of Nevada’s Uniform Commercial Code provides that, among other things, “‘negotiable instrument’ means an unconditional promise or order to pay a fixed amount of money.” Nev. Rev. Stat. … Read more

“A Full-Blown Scandal” – Statement from NYC Comptroller on Mismanagement at Wells Fargo

Statement from NYC Comptroller Scott M. Stringer on New Revelations of Mismanagement at Wells Fargo This is a full-blown scandal — again. It’s unbelievable, outrageous, sad, and yet quintessential Wells Fargo. This isn’t just a corporate debacle. It’s caused real human harm. It’s reflective of a system that Americans feel is rigged against the little … Read more

Not Fake News: Wells Fargo Forced Unwanted Auto Insurance On 800,000 Borrowers

Wells Fargo Forced Unwanted Auto Insurance On 800,000 Borrowers One year after Wells Fargo was busted in the biggest post-financial crisis scandal, when Warren Buffett’s favorite bank was exposed for fraudulently “cross-selling” bank products, including creating millions of credit cards and bank accounts to its customers that were never requested, and which cost the former … Read more