Say it isn’t so…Wells Fargo the bank who brought us “Ghetto Loans” for “Mud People” is in trouble for unfairly targeting minorities? No, I’m not making this up. Read below. – The Bank Slayer Justice Dept. presses Wells Fargo on loans-source * Justice eyes Wells for targeting Afro-Americans – source * Subprime loans focus of [...]
The Fed levies $85M penalty against Wells Fargo
July 21, 2011 By 2 Comments
SHOCKER, not everyone in foreclosure “bought too much house” or “lied about their income on the loan application”. It turns out, that at times, Wells Fargo falsified records and changed borrowers loan applications or steered them into sub-prime profitable loans. “The order requires Wells Fargo to compensate borrowers affected by these practices.” To identify Wells [...]
Five Biggest Mortgage Firms Defrauding Taxpayers say Federal Auditors
May 18, 2011 By Leave a Comment
Bank of America, Chase, Wells Fargo, Citigroup and Ally Financial (GMAC) have been (and still are) cheating taxpayers by wrongfully foreclosing and then claiming millions of dollars in reimbursements from HUD, FHA & other governmental bodies for losses on mortgage loans. Why won’t you let the dog sniff your locker? As the article below shows, [...]
CBS 60 Minutes – Who really owns your mortgage?
April 4, 2011 By 9 Comments
Strange but true…bank AND attorney fraud. No surprise either that AHMSI is named! It’s bizarre but, it turns out, Wall Street cut corners when it created those mortgage-backed investments that triggered the financial collapse. Now that banks want to evict people, they’re unwinding these exotic investments to find, that often, the legal documents behind the [...]
Judge threatens jail time for bankers
January 13, 2011 By 4 Comments
Flagstar Bank, GMAC, PNC Bank, SunTrust Bank, U.S. Bank and Wells Fargo must be “special” as they apparently don’t think they need to show up to court. Miami-Dade Circuit Judge Jennifer Bailey was hopping mad at the lack of respect shown her court by these banks. She warned, “You may be held in jail up [...]
Wells Fargo insider spills beans about The Black Hole
January 12, 2011 By 3 Comments
AMAZING! Anyone attempting a loan modification or short sale more than once with Wells Fargo can attest to “The Black Hole”. The following article is from Neil Garfield’s website and is very revealing. Wells Fargo as well as other large banks tend “lose” documents on a regular basis. – The Bank Slayer EDITOR’S COMMENT: LIVINGLIES [...]
Wells Fargo sues to foreclose on the wrong house…again
December 15, 2010 By Leave a Comment
Wells Fargo make a mistake? Not possible. They said they have reviewed all their foreclosure processes and everything is on the up and up. It seems that robo-signing can lead to mistakes. It seems that in a rush to foreclose some innocent folks are inadvertently snared in the foreclosure net. The story below is another [...]
Holiday Foreclosure Freeze? No, not for Texas.
December 13, 2010 By Leave a Comment
Although Fannie Mae, Freddie Mac and several other large lenders are claiming a Holiday Gift with their self imposed foreclosure freeze sadly it won’t help Texans one single bit! This “gift” is nothing more than a shameless attempt at improving their poor public image. Why won’t it help Texans? Because although they will suspend foreclosures [...]
ASC wants you to default
December 2, 2010 By 2 Comments
A class action lawsuit filed by New York law firm Harwood Feffer alleges that Wells Fargo-owned mortgage servicer, America’s Servicing Company, induced distressed borrowers into defaulting on their payments supposedly in order to get a loan modification all the while accruing late fees and penalties. READ: Enriching themselves at borrower’s expense. This isn’t the first [...]
Wells Fargo admits 55,000 foreclosure applications flawed (READ: FRAUD)
October 28, 2010 By 3 Comments
Wells Fargo admitted it made mistakes in roughly 55,000 foreclosure cases. Surprise, surprise, surprise! Wells announced Wednesday that it will quickly “fix” these issues and re-file the necessary documents by the middle of November. Wells called the mistakes “technical“, and it says “it has no plans to halt the foreclosure process”. Of course, they won’t [...]
