Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted

 

 

 

 

 

Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted

By Martin Andelman
Mandelman Matters

Reposted from http://mandelman.ml-implode.com/2012/02/wells-fargo-bank-and-patricia-martin-part-2-a-bank-that-cannot-be-trusted/

Okay, so here’s a quick recap, in case you’re coming in late, followed by an update that demonstrates very clearly why I say that Wells Fargo Bank and the law firm,  Anglin, Flewelling, Rasmussen, Campbell & Trytten LLP… cannot be trusted. 

First the Short Recap…

Patricia Martin, age 65, having lived in her home for 44 years, had major back surgery, so she had to send her daughter into the bank to make two payments.  There were late fees of about $80 a month, but the person at Wells Fargo said they could be paid later, and accepted the check for the two payments.

The following month, October, Patricia’s home heating system required major repairs, so the next time she was able to make her mortgage payment was the following month, November.  But, when she tried to make the payment, the bank said that she hadn’t made the September payment, and in fact, she was in default, and had to come up with $4829.96 by November 30th, or the bank would foreclose. Continue reading “Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted”

Who is Responsible for the Conduct of Foreclosure Mill Law Firms?

Who is Responsible for the Conduct of Foreclosure Mill Law Firms?

By Daniel Edstrom
DTC Systems, Inc.

Here is the analysis, which comes word for word from the Interagency review of Foreclosure Policies and Practices in 2010 (available here: http://dtc-systems.net/wp-content/uploads/2011/04/InterAgency_Review_4900701.pdf).

The Federal Reserve System, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS), referred to as the agencies, conducted on-site reviews of foreclosure processing at 14 federally regulated mortgage servicers during the fourth quarter of 2010.

This report provides a summary of the review findings and an overview of the potential impacts associated with instances of foreclosure-processing weaknesses that occurred industrywide. In addition, this report discusses the supervisory response made public simultaneous with the issuance of this report, as well as expectations going forward to address the cited deficiencies. The supervisory measures employed by the agencies are intended to ensure safe and sound mortgage-servicing and foreclosure processing business practices are implemented. The report also provides an overview of how national standards for mortgage servicing can help address specific industrywide weaknesses identified during these reviews. Continue reading “Who is Responsible for the Conduct of Foreclosure Mill Law Firms?”