OCC consent order Wells Fargo Judgment

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
This is a document sent in by a member for the LoanSafe community to view. It is a Stipulation by Wells Fargo that is signed by the Board of Directors that they are in violation of OCC and Treasury Protocol and law concerning foreclosures improper documents, HAMP Loan Modifications ect.. and overcharging late fees. It is an admission of these violations of the Bank, with stipulation that they are to correct these matters within a period of days. It also tells the bank to reimburse the Property owner who has been foreclosed on his financial injury. It also talks about violations of non judicial foreclosures.


See attached to view:
 

Jeffrey L. Shurtliff

LoanSafe Member
Dec 4, 2010
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Thanks for posting this valuble information Cat. This is a stipulation that this bank agrees they have done wrongful foreclosures. I any of you are in a court case with this bank this shows they have stipulated to their guilt.
 

estela13

LoanSafe Member
Oct 17, 2010
450
2
18
Inland Empire CA
thanks for posting it so that members can use it to their advantage. I have been super busy have not had a chance to read it I will make time tonight.
~Estela
 

Jeffrey L. Shurtliff

LoanSafe Member
Dec 4, 2010
3,823
139
63
Thanks for posting this valuble information Cat. This is a stipulation that this bank agrees they have done wrongful foreclosures. I any of you are in a court case with this bank this shows they have stipulated to their guilt.
however adding after a indepth read it can not be used against them in court.
 

labrant

LoanSafe Member
Sep 10, 2011
2
0
0
63
Great post
17 months ago i am sorry to say i got involved with kramer, they told me to stop paying my morgage and i would be part of a mass law suit against litton loan and hells fargo i was trying to remodify my morgage .i was sending my payments in and litton was sending them back to me .litton will not talk with me because they said i hired an attorney.the california attorney general has shut kramer down for fraud and now i am affraid litton will foreclose on my home my loan is way underwater and i have not made a payment for 13 months and have not heard one word from litton and now that kramer is shut down i am affarried litton will start the foreclosure processand i am not sure how or what i can do to stop this .my loan ds 450 k and my house has been appraised at 285 k hoew this happened i am not sure
 

estela13

LoanSafe Member
Oct 17, 2010
450
2
18
Inland Empire CA
Great post
17 months ago i am sorry to say i got involved with kramer, they told me to stop paying my morgage and i would be part of a mass law suit against litton loan and hells fargo i was trying to remodify my morgage .i was sending my payments in and litton was sending them back to me .litton will not talk with me because they said i hired an attorney.the california attorney general has shut kramer down for fraud and now i am affraid litton will foreclose on my home my loan is way underwater and i have not made a payment for 13 months and have not heard one word from litton and now that kramer is shut down i am affarried litton will start the foreclosure processand i am not sure how or what i can do to stop this .my loan ds 450 k and my house has been appraised at 285 k hoew this happened i am not sure
f

I would contact the AG's office since they are under investigation hopefully they can place your sale on hold so you can get a modification .
 

labrant

LoanSafe Member
Sep 10, 2011
2
0
0
63
a g office

should i call the ag office in california or wisconsin not sure who to call .and thanks so much for your reply.
 

noonie

LoanSafe Member
Jun 11, 2011
163
1
0
CA
I wonder, if I offered a lawyer as his contingency fee, 25 percent of the proceeds of the sale of my house, if they would pull out all stops to win my house free and clear in a lawsuit against Wells Fargo. It would mean at least 100k for the lawyer. We already have another place lined up, and if I win, I would put the thing up for sale immediately.

If anyone has a strong case for lawsuits against WF, we do because of:
1. bait and switch of the TILA at the signing table when our goods were enroute across country for relocation to the new house. First TILA with fixed 30 year term was received upon preapproval prior to househunting. The application was finalized a week later after a purchase agreement was signed. WF did not produce another TILA, until 30 days later at signing.. when it was switched to an Interest only loan 10/20, making it impossible to walk away and reimburse moving expenses new employer as the $$ were already spent on paying a moving company/real estate costs. Would have lost the promotion and had to scrape up 12k.
2. Wells refused to refi a year later and rejected the refi walk through appraisal obtained through a broker. it was the SAME APPRAISER Wells used when the house was purchased. Wells insisted zillow was accurate and cut my 1 mile radius for comprehensives in half. .. the downhill/older neighborhood half.
3. improper securitization and no standing in a foreclosure (WF doesn't hold the note, it's part of a pool of mortgage backed securities).

What'ya think? Will a lawyer put energy into this for 25% of sale proceeds?
 

Jeffrey L. Shurtliff

LoanSafe Member
Dec 4, 2010
3,823
139
63
I wonder, if I offered a lawyer as his contingency fee, 25 percent of the proceeds of the sale of my house, if they would pull out all stops to win my house free and clear in a lawsuit against Wells Fargo. It would mean at least 100k for the lawyer. We already have another place lined up, and if I win, I would put the thing up for sale immediately.

If anyone has a strong case for lawsuits against WF, we do because of:
1. bait and switch of the TILA at the signing table when our goods were enroute across country for relocation to the new house. First TILA with fixed 30 year term was received upon preapproval prior to househunting. The application was finalized a week later after a purchase agreement was signed. WF did not produce another TILA, until 30 days later at signing.. when it was switched to an Interest only loan 10/20, making it impossible to walk away and reimburse moving expenses new employer as the $$ were already spent on paying a moving company/real estate costs. Would have lost the promotion and had to scrape up 12k.
2. Wells refused to refi a year later and rejected the refi walk through appraisal obtained through a broker. it was the SAME APPRAISER Wells used when the house was purchased. Wells insisted zillow was accurate and cut my 1 mile radius for comprehensives in half. .. the downhill/older neighborhood half.
3. improper securitization and no standing in a foreclosure (WF doesn't hold the note, it's part of a pool of mortgage backed securities).

What'ya think? Will a lawyer put energy into this for 25% of sale proceeds?
Read this thread throughly and you will see your plan would be fruitless as even if you have a cut and dried case the Judges, the government , The OCC are bought off and controlled by the banks. The so called American Dream is denied to about 10 million or so people in this country. http://www.loansafe.org/forum/foreclosure-laws/40908-crossing-delaware-dont-tread-me-2.html#post363096
 

noonie

LoanSafe Member
Jun 11, 2011
163
1
0
CA
Then I guess the only recourse is to join the "occupy wall street" protests around the nation.

I know GE Money is certainly acting like they're above the law with our credit card. I found out by accident that they were diverting our payments to the lower interest balance and violating credit card laws that require they 1. apply payments to the promotional balance during the interest free period if the consumer elects, adn 2. apply payments to the higher APR balance. Even though the front page of our statements over 2 years showed our combined balance dropping, I noticed on the 2nd page where they show the interest calculation, that they were increasing the high APR balance $20 every month over 2 years. When I call, they only say "this conversation is over." I will have to get an attorney and file complaints with the OCC and AG to get it resolved.
 

GECapitalCares

LoanSafe Member
Oct 3, 2011
1
0
0
Noonie - I'm sorry you're experiencing problems with your account. We'd like to help. Please email me at [email protected] with the following information:

- The full name associated with the account
- Mailing address associated with the account
- Your contact phone number
- Reference code DM 100311_ls

For your security, please do not include your account number in your email.

Regards,
Nicole
GE Capital
 
Last edited by a moderator:

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
Hi Nicole,


Welcome to the forum and thank you for joining to try to help one of our members with GE Money, hopefully you can help.
 

noonie

LoanSafe Member
Jun 11, 2011
163
1
0
CA
While I appreciate the offer Nicole, know I cannot respond via email because it would compromise my anonymity in this forum.

However, I will write to the address on the back of the statements as instructed by the OCC and the Credit Card Agreement that clearly states our rights are only protected if I do so (in writing at the address provided).
 

noonie

LoanSafe Member
Jun 11, 2011
163
1
0
CA
I couldn't edit my last post in time.

While I appreciate the offer Nicole, know I cannot respond via email because it would compromise my anonymity in this forum.<br> <br>
However, I will write to the address on the back of the statements as instructed by the OCC and the Credit Card Agreement that clearly states our rights are only protected if I do so (in writing at the address provided).<br><br>I am really frustrated while the first day I called, the account manager I spoke with (marie) agreed there must be a mistake, two days later, I attempted followup with three different account managers; One hung up on me.. the second, said my calling wouldn't change the answer and said "this conversation is over" when I pointed out that it was the lower interest balance they were diverting all our payments to, and in the evening, the third account manager I spoke with denied we were being double billed on the higher APR interest and refused to let me walk her through the statements.

This is an example what the statements look like:

First page:

Previous balance: $2, 574.91
new purchases:0.00
Payments 139.00
Credits, fees(net) 0.00
interest charge(net) 35.49
New balance:2,471.40

Seems straightforward.. the numbers all add up but the second page shows
interest charge caclulation: $850.03 at 26.99 interest 18.86 expiration date N/A
1,700.40 at 11.99 interest 16.63 expiration date until paid off.

The following month, the $850.03 grew to $869.10. What happened to the 18.86 portion of the 35.49 paid I asked... I was told it was diverted and rolled onto the principle of the 11.9% balance. The $18.86 interest due on the 26.99% balance gets rolled in the next month, resulting in more interest... And it's been going on for TWO years. The balance on the 26.99% is now over $900. The original balance was $613.00 in 2009. Why bother reporting it on the first page as if it were paid when it was diverted? I call it a fraudulent shell game, because I am now being told I am stuck with it. Hopefully, when I write it be made right, but I think all three of the account managers I talked to (other than Marie) need to be fired for refusing to let me speak to a real manager. (especially the one who hung up on me).
 

Survivor_IN

LoanSafe Member
Jun 2, 2008
287
24
18
Cat,
The document link is now gone. Can you repost? Thanks.

Wells Fargo is a master servicer on multiple securitized accounts. Hiding behind listed servicers (ex - Ocwen, Litton, etc) meaning, listed servicers - the ones responsible for mods and negotiations - follow Master Servicer's guidelines per PSA docs. WF sometimes takes ownership and sometimes acts as trustee and/or holder of notes.... they have been hiding their involvement in mine, which meant I have been seeking relief from all these lawsuits and gaining nothing due to "shell games." Morgan Stanley did same... owns my loan, has bought it back, and has reported on my credit report in the name of an out of business entity that bankrupted directly after loan origination.