Wells Fargo to Refile Some Foreclosures in Maryland
By NICK TIMIRAOS
Wells Fargo & Co. said on Wednesday that it has begun dismissing an unspecified number of pending foreclosures in Maryland as a result of potential flaws in its document-handling practices.
The disclosure came after GMAC Mortgage Corp, a unit of Ally Financial Inc., told a Maryland court on Friday that it would similarly dismiss around 250 pending foreclosures in the state in order to avoid a potentially lengthy class-action lawsuit.
The bulk dismissals allow both banks to restart foreclosure proceedings without the threat of litigation and title disputes, but they raise the risk of additional costs and delays because Maryland has stepped up scrutiny of banks’ paperwork in recent months. The state also began requiring lenders last July to conduct mediation with delinquent borrowers in a bid to avert foreclosures, which could further lengthen the foreclosure process.
Wells Fargo said it began to request dismissals of foreclosures in late December on all loans that had a foreclosure affidavit signed by a Wells Fargo employee. Paperwork signed by outside foreclosure attorneys wouldn’t be affected. The bank didn’t say how many foreclosures might be affected.
A Wells Fargo spokeswoman says the bank took the action to “ensure we met all state requirements” and that Wells Fargo “immediately restarted the process of moving each dismissed file to foreclosure.”
Check out the rest here…
Well let’s see, there were at least two robo-signers which were deposed that signed tens of thousands of affidavits in foreclosure cases. I wonder how many were in Maryland?
I also wonder how many other states are going to follow Maryland’s lead?
XEE MOUA
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 500 foreclosure-related papers a day on behalf of the bank.
Ms Moua, who was deposed as part of a foreclosure lawsuit in Palm Beach County, Florida, said that the only information she verified was whether her name and title appeared correctly, according to the document.
Asked whether she checked the accuracy of the principal and interest that Wells claimed the borrower owed – a crucial step in banks’ legal actions to repossess homes – Ms Moua said: “I do not.”
Ms Moua nevertheless signed affidavits that said she had “personal knowledge of the facts regarding the sums of money which are due and owing to Wells Fargo”. The affidavits were used by the bank in foreclosure proceedings.
Ms Moua added that before reaching her desk, it was her understanding that the foreclosure documents had been reviewed by outside lawyers.
JOHN KENERTY
Robo-Signing: Documents Show Citi and Wells Also Committed Foreclosure Fraud
Confusion at Wells Fargo
For example, in one case I reviewed, Herman John Kennerty of Wells Fargo gave a deposition describing the department he oversees for Wells Fargo. It’s a department dedicated to simply signing documents. Kennerty testified that he signs 50 to 150 documents a day, verifying only the date on each. Although the foreclosure in that case was upheld, Wells Fargo did not dispute Kennerty’s signing practices.
What else might Kennerty want to verify? Well, in one document he signed that I’ve reviewed, he supposedly transferred the mortgage from Washington Mutual Bank FA to Wells Fargo on July 12, 2010. But that’s impossible because Washington Mutual Bank FA changed its name in 2004, and by any name WaMu ceased to exist in 2008, when the Federal Deposit Insurance Corp. took it over. Making the document even less comprehensible, the debtor had declared bankruptcy a month earlier, according to consumer bankruptcy attorney Linda Tirelli, who represents the debtor. Why would Wells Fargo want a mortgage from someone in bankruptcy?
Finally, Tirelli points out that the papers Wells Fargo filed included a different transfer of the mortgage dated three days before the debtor took out the loan. The documents are a mess, yet Kennerty signed them regardless. Wells Fargo flatly stands behind its practices:
“Wells Fargo policies, procedures and practices satisfy us that the affidavits we sign are accurate. We audit, monitor and review our affidavits under controlled standards on a daily basis. We will stand by our affidavits and, if we find an error, we will take the appropriate corrective action.As a standard business practice we continually review, reinforce and strengthen our policies and procedures.”
Wells offered no explanation of the document Kennerty signed in Tirelli’s case.
This could get interesting…
Robo-depos below…
~
4closureFraud.org
~
Deposition Transcript of Xee Moua
Deposition Transcript Exhibits of Xee Moua
Full Deposition of Wells Fargo John Herman Kennerty
There is only 2 solutions to this mess, since fraud has been committed. either give us clear title or refi at property value 5%/ 30 yr fixed and be doen with it. no more foreclosure instant stimulus. the mortgages will be what we could afford anyway not the fake mortgages we were wrongfully approved for. then the homes we couldn’t sell we asked for modifications but either it didnt help at all or we denied because wells fargo lost the paper work actually i call it premeditated loan mod denial. i feel so used and abused. this is abusive behavior
the banks have put on our backs. how could they say they lost paperwork and i have a tracking number and a person that signed for it? we should be able to sue wells fargo for deceptive pratice perpetrated on us. please help what is our next step i want to save my home but i want it in my favor not appeal after appleal i want a done deal. we all have to work together helping each other. this is so barbarack. its a free for all.
Dismissing the foreclosure is not enough. Surrender the title and give a minimun of 1 million in damages to the borrower. Take a look at the CEO’s bonuses.
Banks should surrender the title to the homeowner or property owner, if borrower has been defrauded or led to believe they would receive a loan modification.
Tell Wells Fargo and the other banks to go F**k themselves.
A fair and just punishment for the banks.
For those people where the court has ratified the sale in Maryland, I started a CLASS ACTION in Maryland Federal Court back in November 2010. It is asking that all such foreclosures ratified by the court that contained an affidavit from XEE MOUA of Wells Fargo, be dismissed.
Jones vs. HSBC – Civil No. 09-2904 RWT
You can view the complaint right here on this site.
Click Here
https://4closurefraud.org/2010/11/02/xee-moua-class-action-robo-suit-against-hsbc-and-wells-fargo/
A whole lot of people knew they were lying….just as all the other lying banks and their lying Mills lawyers..and anyone connected to the financial industry….loved to see the results of a polygraph given to everyone of them… One thing that fries my mind…nothing in the courts is consistent. . every judge has a different brain ( I do give them that much credit) and the final say is what that judge see’s and hear’s. Another judge may see and hear different on a case with the same issues and proof. It’s like a game of roulette..hoping the right judge hear’s your case. Or hoping a judge that has not been in mothballs appears thru the door….
i feel the same way. i have been saying that since this whole thing started for me and its hard to get any answers
Am I correct in thinking that this is for only cases that have not yet been ratified or gone through the whole foreclosure process?
While this is a victory, and I am truly happy that these peolple may now have a fighting chance with their homes, what about those who already lost their home, with the same fraudulent documentation? Those of us who had their sale ratified well before the court ordered ratification date? Those who are in appeal of the raification, those in current court ordered mediation?
I have plenty of documentation of other people possessing the same attributes as Mr. Kennerety and Ms. Moua. How long will it take for them to be exposed?
It will take knowledgeable, competent and motivated defense counsel to depose the other robo-signers. Until that happens, and in a case that is not settled out of court but in which the deposition is entered into the record, there really won’t be anything of use.
Ah-ha! I thought Well Fargo’s paperwork was pristine? OMG they where lying? Who would have think it?