Wells Fargo’s Fraud Handbook

“When they did the bailout, they bailed out the banks … but they never bailed out the homeowners. The homeowners took the biggest hit.”

None of this comes as a surprise to any of us who have been dealing with the systemic idiocy of Wells Fargo’s mortgage loan modification review “process” over the past seven years or so. Nor, for that matter, anyone who has tried to re-structure a mortgage serviced by any of the “too big to fail” banks.

Falsified paperwork. “Lost” paperwork.Electronic “paperwork.” Paperwork that didn’t count because you didn’t sign it in the lower left-hand corner upside down with your own blood.

“What people don’t understand is this: 49 attorney generals went after
almost every major bank including Wells Fargo.
There was a $25 billion settlement for these kinds of fraudulent practices,but nothing to help the homeowners. That’s what is so crazy.”

9 thoughts on “Wells Fargo’s Fraud Handbook

  1. Yes, our tax payments bailed out the largest banks. Our reward? We were treated to illegal activities on the part of the banks we bailed out. Chase Threatened minor children with foreclosure and the Office of the Comptroller of Currency did nothing. So Are the banks really at fault? No our government failed in a catastrophic way to protect the millions of homeowners who tried to get modifications and were instead treated to all sorts of illegal and illicit ways to take their homes. I, (a single mom) and my minor children all experienced threats when I was overpaid on the mortgage. Chase and Rod Reuscher from the legal department tried every low tactic to take my home because I had equity in it…even during the housing collapse. The OCC CAG in Houston Texas has been aware of all of the illegal activities and has never acted nor turned this case over to the DOJ for prosecution. The Attorney Generals office in Michigan has had this case for 5 years and not acted. Previous Senator Levin was the only person who even tried to help and he is now out of office. We need a bill passed where the homeowner if they refinance can prohibit an abusive bank from EVER owning or servicing their loan again. But our politician have a hand in the honey pot of the pooled mortgages and are making money off of our heartbreak and suffering…sets us back to reasons we left ENGLAND.

    • Sorry you and your family are going through the foreclosure fraud nightmare, Darlene. It’s so maddening that every single person and agency that is supposed to be protecting consumers and upholding the law just looks the other way when the banksters come telling their lies and breaking all the rules to steal people’s homes.

      I don’t think that will change as long as the bank lobby owns the government from the President right down to your state attorney general and legislators. Get the money out of politics, restore the value of every person’s vote and maybe the tide will turn. Until then, we little people better keep swimming for our lives.

      Good luck in your fight and keep telling your story so others will be warned before doing business with these corrupt banks.

      • May i ask why there is no reL help for us ? There is something very wrong with our mortgage account. 2005 we began a loan this is 2015 they show us owing the same amount we started with. Always show a negative escrow. But when u call escrow department they show a possitive and its not applyed. Bankruptsy three times to save our home from wells fargos lies. Modification always denied. False hopes trapping homeowners to the point its so far out of control they foreclose on u. Where is our help at. When will there be exact to the point directions to follow and file on to deal with this? And take action? Bankruptsy has asked three times for a financial on intire mortgage .there still waiting for it.

  2. I’ve been fighting Wells for years, they are now moving forward with the foreclosure.

    At my end what if anything can I do.

    All that they keep on saying is that I make to much money and cannot be Modified.

    Can anybody help me at all ??????

  3. I was approved for loan modification so i made the new payments of $80 per month less than my original one, after a few months i received loan mod papers to sign, it wasnt just a lower interest rate to have lower monthly payments , something i was never told was included they wanted 25 years added to the 15 years i had left on mortgage at $650 per month , Hell No, to save 80 a month for 15 years pay back 650 for 25 extra HELL NO, I didn’t sign , they sent out foreclosure papers. saying i hadn’t made mortgage payment in 6 months WTF last 2 i made were even at the original mortgage price.

    • Received papers from WF saying i abandoned house and it was vacant. WTF Scam Fargo i live there , u wernt able to steal it yet

      • Twice Wells Fargo forced my house to a tax sale auction by not paying taxes out of escrow account , had mortgage with them 15 years no missed payments. House was eventually pulled from auction. But WF tried to bill me inspection & survey fees WTF , i won them on that BS too , but then i started having checking account with them tapped , i would make a mortgage payment and they would suck out numerous payments 2-5 payments and then any deposits made after that to cover sucked extra mortgage payments i didt want made finally after over a month had money given back to me , once they withdrew unauthorized payments from my account for multiple mortgage payments WTF and redated previous purchases from my account made weeks & months before unauthorized withdrawals and trie to charge me fees on them, hundreds of dollars saying they had to cover them because funds weren’t there to pay them BS Scam Fargo. I finally won that scam lying cheating ass scam fargo tried. But its always something with them

  4. Let me first say thank you for this site!

    In 2010 Wells Fargo fired me and everyone in my department saying they were dissolving the department. (Mind you they said they would help place me somewhere else, but made every effort not to help) However, months later the department was re-instated with all Wachovia employees. I was unable to find a job for a year and a half (during the stock market crash).

    I had everything through Wells Fargo – my 1st mortgage and home equity, my checking, savings and 401, credit card, etc. Unfortunately I had to file for bankruptcy after being laid off so long, but I kept my house and had help from family members to pay my mortgage.

    So fast forward to this year. I did a mortgage modification and then I got a letter saying they were going to extinguish my home equity loan. They sent the Dodd-Frank document directly to my attorney who forwarded it to me. I signed it, worked closely with agents at WF making sure they got everything. So, I was told the extinguishment was complete, as my first mortgage was in good standing.

    Anyway, last month… With budget deficient through the state where I currently work as a contract is up at the end of June 2015. So my dad decided he would take over my house and I would go live at their farm since they are elderly. Anyway, my dad paid off the first mortgage… Here lies the problem…I get a threatening letter from WF saying that I have not communicated with them and they are withdrawing their workout options and the extinguishment. I called them and was furious. The loan was already extinguished. I asked the agent to look at the notes and he said it does say I had been working with them and that they had me sign the document but that my file is confusing and his manger says they have rescinded the extinguishment and making my 2nd a first mortgage and going after me for foreclosure. I asked the guy about the letter and he said it was a standard letter, however his boss says I need to cough up 25,000 dollars now. My original loan was $30,000 I had been paying $600 a month on it for year. Then after bankruptcy it was charged off – however they said I could make any amount of payment I could afford, so I would send them a little every month. So when they offered the extinguishment because I have kept my first mortgage up and I was upside down in my house, I was thrilled for the help. They have gotten much more on that loan that 25,000 they say I owe. At first they said I owed $29,500 but then I got another letter with a different amount. Ughh, It like I am in a nightmare.

    I am going to contact my attorney and bring all my paperwork in, however, is there really any point to it, because WF lies and steals and can modify their documentation and notes to reflect what is in their best interest.

    I have never hated a bank so much in my life. I recently learned Wells Fargo and Wachovia were caught in some money laundering. If true, why are they still in business?

    I am disappointment that a decent bank such as Norwest years ago (or at least the Norwest I knew) could grow into such a horrible company.

    When I worked at WF, I only got 5 minutes of personal time off the phone. I was pregnant and had to use the restroom quite often. I was penalized in my year end review for using too much personal time. I also received and unexcused absence because I had to leave to go have my baby and since I didn’t know the exact date, it was like calling in sick.

    I could go on, but I am devastated for a company I worked for, for 13 years and I was loyal to, threw me aside like a rag doll and stomped on my like a piece of trash.

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