Description: This passage is mainly about wellsfargo com activate. Wells Fargo has been accused of fabricating mortgage documents to forcing home owners into foreclosure, short sales, and loan modifications and the writer tells us how to resolve these problems.
We have a bang-up show for you, tonight Wells Fargo under fire for fabricating mortgage documents to foreclose on homeowners, that is our top story tonight and despite the 25-billion-dollar mortgage settlement, robo-signing may be alive and a lawsuit claims a 150-page instruction manual here details step-by-step instructions on making unauthorized changes to bank documents allowing the banks to foreclose on a home.
The lawyer fighting the bank Linda Torelli joins me now, so Linda this is your document, you give it to us, you say that this is the manual that attorneys at Wells Fargo used to instruct people trying to foreclose on homes, what did this tell people about that documents? My contention is simply an internal document and that is a blueprint for making up and manufacturing documents where none exists.
Perhaps the documents are lacking, that’s my contention, your contention is that in the mortgage meltdown, a lot of documents were missing, if you were trying to foreclose on a home, it would be very difficult, because the homes had changed hands so many times, the banks had churned these homes as well.
So if you’re trying to bring together all the documentations, it may not exist, so what do Wells Fargo do? If base of my reading of this document, if this is the attorneys who are preparing documents to make up for whatever is lacking in the chain of title, so they would fabricate this stuff, that’s exactly what I’m saying, I’m saying that is based on this document, it is multiple agro manufacturing documents where none exists.
We will read a note from Wells Fargo in a second, they don’t agree with this analysis obviously, and somehow you have got your hands on a document that is internal to the company, they’ve confirmed that much, tell me why you’re fighting this so hard? You’ll obviously have clients with claims because it doesn’t stop.
We go through this 25-billio- dollar settlement which is supposed to resolve these issues, and it is still business as usual not for Wells Fargo but for all of the big banks, so you’re saying that it’s not this company, I think this is spread across the board, this business is as usual for all of the places, let me read Wells Fargo’s comic, here’s what they say.
Wells Fargo’s foreclosure process today and back in 2012 are appropriate and legal to allege, otherwise it is simply misrepresenting the facts, our team members carefully review all requirements to properly initiate foreclosures, I see that it is not an interesting issue, the document that I have provided is the manual for taking step-by-step instructions, as I see it to manufacture documents.
Their statement simply is not addressing the issue, I can tell you set a fire under a lot of regulators, the Consumer Financial Protection Bureau, the New York Attorney General and the US trustees are all taking a look at this investigating, next my hope is that one of these entities that are doing the investigation will bring someone to justice.
Go to Wells market, maybe you will see a criminal walk at some point, when we were covering this, the first time around with the Robo signings, a lot of people are out there, the bank’s played fast and loose with the documentation, after all these people had not paid for their house, they hadn’t made their mortgage payments.
What’s your response to that? There’s one thing that is regardless of whether someone’s behind in the mortgage, it can happen to anyone in this economy, it does not give a bank or anyone the right to fabricate documents and submit them to a court of law for the purpose of enticing a judge to rely on it and foreclose on a home.
Tonight your clients are still in a big fight with Wells Fargo, it is still a big issue overhanging from the mortgage meltdown, as you take a step back and think about what these banks are going to do, the documents don’t exist, they are empty-handed, they need to process these foreclosures, the market is never going to clear unless some of this work starts to get done.
I think the first step in foreclosure for any on Freddy Bank is that you have the right to foreclose and make that determination first, if you don’t have the documents, perhaps you don’t have the right to foreclose and that’s certainly not the consumers’ fault, it’s not the consumers’ fault and there’s enough finger-pointing to go around to blame everybody a little bit.
Linda thanks for coming on the show tonight, it’s a fascinating story and we will keep up with you, you keep up with us, we want to know what is happening with these cases, thank you.