Wells Fargo Scams Continue Unabated — According to Their Own Reports

The take-away is that modifications are a scam to either steal the loan or force homeowners into foreclosure. If the modification is seen as completed, the loan has been stolen  because the creditor has become a new and different party than anyone in the chain of title to the mortgage deed. If the modification is denied it is because they have never submitted it to any owner of the debt or their authorized representative and they are forcing homeowners into foreclosure, bankruptcy or both.

The most common Wells Fargo scam I encounter is not written about because it is only dimly understood by most and rarely discovered. At the start of foreclosure WFB appears as beneficiary under the deed of trust or mortgagee under the mortgage deed. At the far end of the timeline, when nobody is examining documents anymore, WFB reveals itself to be a servicer acting for an undisclosed party which is also a conduit for undisclosed owners of the debt, note and mortgage.

In the latest iteration of this pattern of conduct I see that — after the foreclosure sale by an unauthorized trustee acting on behalf of WFB falsely claiming to be the beneficiary under a deed of trust (as falsely represented to the court by an attorney who has no idea if the representation is true or false) — Premiere Asset Service (PAS) shows up as the DBA (Fictitious name) of WFB who is “now servicing the property.”

I know of dozens of cases where WFB is named as the creditor and then later, often in trial, admits to being a servicer on behalf of government sponsored entity (like Fannie Mae), who was the “original investor,” they say, for a loan originated by a nonexistent entity.

Let us help you plan for trial and draft your foreclosure defense strategy, discovery requests and defense narrative: 202-838-6345. Ask for a Consult.

I provide advice and consultation to many people and lawyers so they can spot the key required elements of a scam — in and out of court. If you have a deal you want skimmed for red flags order the Consult and fill out the REGISTRATION FORM. A few hundred dollars well spent is worth a lifetime of financial ruin.

PLEASE FILL OUT AND SUBMIT OUR FREE REGISTRATION FORM WITHOUT ANY OBLIGATION. OUR PRIVACY POLICY IS THAT WE DON’T USE THE FORM EXCEPT TO SPEAK WITH YOU OR PERFORM WORK FOR YOU. THE INFORMATION ON THE FORMS ARE NOT SOLD NOR LICENSED IN ANY MANNER, SHAPE OR FORM. NO EXCEPTIONS.

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THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

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see Wells Fargo SCams Homeowners Denying Approved Modifications

12 Responses

  1. Judges are the main criminals in fraudulent foreclosures.

    An example from case US Bank v. George Pote which Mr. Pote, a victim of judicial racketeering, shared with me.

    First, corrupt Judge David Ellis (IL Appeal Court) declared that FRAUD IS LAWFUL (cit. “because his allegations of fraud, even if true, would not render judgment void.” No surprise. David Ellis is in fact a Mafioso in Judicial robe who obtained his seat in the most corrupt manner.

    Second, JUDGES forced Mr. Pote to PAY RENT for his house to fraudsters while they continue to extort Mr. Pote’s property through the Court (which became a criminal organization itself).

    According to ” US Bank'” lawyers, Mr. Pote had to send his RENT to some other lawyer who suppose to give it to a purported “loan owner”.

    Mr. Pote did.

    This new lawyer returned Mr. Pote his check and said that he has nothing to do with this foreclosure or with Mr. Pote’s property and he does not understand why Mr. Pote sent him the check. .

    So, the real racketeers are corrupt JUDGES who ordered (extorted) Mr. Pote to pay “rent” to criminals.

    The link to this case is here . http://illinoiscourts.gov/R23_Orders/AppellateCourt/2017/1stDistrict/1162077_R23.pdf

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  2. Roger,
    Are you st liberty to discuss your meeting with the FBI?

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  3. so I went ahead and tipped the FBI about the solicitation of sitting judges and giving them new mortgages. A simple MERS satisfaction does the job. No money, no checks, no bank records; just a LETTER to the holder erases the amount of debt offered to that JUDGE to influence their reasoning and decision making. NO,that’s too nice. IT’S A BRIBE, and it’s going on around the country. You wonder out loud “HOW CAN THEY RULE THIS WAY?”. The answer is simple: these judges have been bought off. In other words, BRIBED. This is the massive racketeering operation that is Wells Fargo.

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  4. Ian — excellent point to Sheri’s point!!!!!

    Right on!!!

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  5. Sheri , good point. Actually a great point. There is so much to take into consideration that we, at least I, have overlooked this. So the modification named the wrong lender. And of course there was no lender, and there was no one acting on behalf of a trust because there were no trusts. So, who, under my rights of the TILA, is the lender? Got it-

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  6. I have to disagree with Neil on one point about loan modifications. When wells sent docs that incorrectly named the lender the docs are not valid contracts. Just because the homeowner signed invalid docs does not make them valid. It just means WF frfrauded the homeowner. A loan modification does not change the owner of the debt. It only changes the terms of the loan.

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  7. These are “Legacy” loans. Fannie Mae is not the direct investor. If Fannie Mae had any relations — it was by their investment in the upper tier tranches of the private label MBS trusts. Those tier tranches have been paid out by the bail out. .

    Debt collectors have a nasty habit of not abiding by the FDCPA. In other words, they do not name the current creditor to whom the debt is owed They will name an original or fake creditor, and hope no one notices.

    No one knows the true role of the “bank” – if any role at all. .And, the problems likely far exceed what is expressed by the SEC filing. Over estimated attorney fees? Are they kidding?

    But who is watching? Who has ever cared? Other than present company of course.

    Modifications — a con game. I feel for those who need them. And, most in these loans need them. But, one has to sell his/her soul – and will never know the truth.

    Liked by 1 person

  8. The same situation still going on: Who is the creditor? Who knows? Perhaps, there are multiple creditors sharing their ill-gotten gans.

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  9. James. I always thought Fannie and Freddie did NOT and Cannot OWN any loans as stated by the servicer in fraudclosures documents.
    Yet BOA was the originator and “lender” even though they lent nothing and Freddie Mac says they “owned” the loan from the beginning of origination although the borrower was never made aware of this.

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  10. Ok. I have Wells Fargo and Fannie Mae. Just like above. Now what ???

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  11. can’t tell you HOW MANY TIMES I’ve written about this subject. WFB wrote the loan Freddie was the OWNER OF THE LOAN SO SAYS WFB.. I got forclosed on BY WFB? could not get a lawyer to understand this Bullshit at all??? BUT I LOST MY HOUSE ANYWAY! WISH I COULD HAVE FOUND HELP TO SAVE MY HOUSE.

    Liked by 1 person

  12. The last number I saw was 870. I won’t bother with the link, it’s yahoo news. They’re talking about “denied” modifications. What about all the BREACHED modifications that were illegal debt collection actions? Make the payments….oops, sheriff’s sale! Make payments for months, even years, without countersigned documents in hand? You’re foreclosed as soon as your property value comes back to “bubble” levels to be used to “churn and burn” another would-be borrower.
    No “new money” in the system without “debt creation”.

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