Washington Post Staff Writer
NEW YORK – Wells Fargo, which has stood by its foreclosure paperwork for weeks as other major lenders discovered errors and halted sales, conceded Wednesday it had discovered some flaws in its documents as well.
The latest acknowledgment of problems from one of the nation’s biggest lenders points out that the failure to scrupulously check legal documents before foreclosing on delinquent homeowners has been widespread in the industry.
Wells Fargo said it is submitting additional affidavits for roughly 55,000 foreclosures pending in 23 states, but said it does not have any plans to halt foreclosure sales.
The bank does not “believe that any of these instances led to foreclosures which should not have otherwise occurred,” it said in a statement.
Wells said the problems related to the “final step” in filing foreclosure affidavits, including the final review and notarization of documents. A spokesperson for the bank would not comment on whether Wells, like other banks, had used “robo-signers,” who signed off on mountains of legal documents without checking them for accuracy.
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But wait, “A spokesperson for the bank would not comment on whether Wells, like other banks, had used “robo-signers,” who signed off on mountains of legal documents without checking them for accuracy?”
How bout I comment for you then…
Posted by Foreclosure Fraud on October 19, 2010 ·
First reported by the Financial Times and now they were kind enough to share the depo below… Wells adds to crisis over home seizures In a sworn deposition on March 9 seen by the FT, Xee Moua, identified in court documents as a vice-president of loan documentation for Wells, said she signed as many as … Read more
Posted by Foreclosure Fraud on October 23, 2010 ·
It is kind of cliche now… Same as the rest of the depos… Not to take away the importance, but it is like reading the same book over and over and over and over… Doesn’t know anything… Doesn’t look at anything… Doesn’t verify anything… You know, the same procedures that are used by every predatory … Read more