Tag: JPMorgan Chase

Wells Fargo Servicer-Driven Foreclosure: Is Stumpfs Company Vicious and Incompetent or Vicious and Greedy?

 

 

Wells Fargo Servicer-Driven Foreclosure: Is Stumpfs Company Vicious and Incompetent or Vicious and Greedy?

By Abigail Caplovitz Field
Reality Check: Confronting the Naked Emperors

Reposted from http://abigailcfield.com/?p=992

Well DOERs, John Stumpf, CEO of Wells Fargo, is a schmuck.

CEO Stumpf knew (because DOERs told him) that the only reason grandma Patricia Martin faced foreclosure was because a Wells Fargo employee–Stumpf’s employee–lied to her daughter about late fees, and then rejected her for the loan modification it told her to apply for. Why did Wells reject Grandma Martin’s modification application? Well, given the facts, I see two possibilities. Stumpf’s company is incredibly incompetent or deadly sin-level greedy. Either way Stumpf’s Wells Fargo is vicious.

Vicious, Yes. Also Incompetent and/or Greedy. Continue reading “Wells Fargo Servicer-Driven Foreclosure: Is Stumpfs Company Vicious and Incompetent or Vicious and Greedy?”

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”

JPMorgan (WaMu) Dismissal Overruled and Judicial Notice of Recorded Documents DENIED

JPMorgan (WaMu) Dismissal Overruled and Judicial Notice of Recorded Documents DENIED

By Daniel Edstrom
DTC Systems, Inc.

Attorney J. Edward Kerley (Hereford Kerley LLP) presents a 7 page complaint (4 pages when you remove the case heading and the whitespace) with 4 causes of action (Leon Taylor vs. JPMorgan Chase).  JPMorgan Chase lawyers respond with 211 pages (including exhibits, which make up about 190 pages +/-).  The original note and Deed of Trust named Washington Mutual Bank, FA as the Lender and Beneficiary.

Excerpt from the complaint:

On or before February 27, 2007, Mr. Taylor is informed and believes that his promissory note was sold by Washington Mutual Bank, FA, to WaMu Asset Acceptance Corporation.

..

The challanged foreclosure is based upon an Assignment of Deed of Trust dated March 15, 2011.  JPMorgan, as successor in interest to Washington Mutual Bank, FA, purports to assign its beneficial interests in the deed of trust to Bank of America, National Association.  The assignment is void and improper because JPMorgan has no right or interest in the promissory note as of March 15, 2011, and such purported assignment is fraudulent and false. Continue reading “JPMorgan (WaMu) Dismissal Overruled and Judicial Notice of Recorded Documents DENIED”

Independent Foreclosure Review Engagement Letters

Independent Foreclosure Review Engagement Letters

By Daniel Edstrom
DTC Systems, Inc.

The Office of the Comptroller of the Currency has posted the following on its website (http://www.occ.gov/topics/consumer-protection/foreclosure-prevention/independent-review-foreclosure-letters.html).

Independent Foreclosure Review Engagement Letters

Below are links to engagement letters submitted by the independent consultants, retained by servicers regulated by the OCC, who will be conducting foreclosure reviews pursuant to the requirements of the April 13, 2011 consent orders.  The engagement letters describe how the independent consultants will conduct their file reviews and claims processes to identify borrowers who suffered financial injury as a result of servicer deficiencies identified in the OCC’s consent orders.

Limited proprietary and personal information has been redacted from the engagement letters.  Examples of information that has been redacted include, but are not limited to: names, titles and biographies of individuals; proprietary systems information; references to specific bank policy; fees and costs associated with the engagement; and specific descriptions of past work performed by the independent consultants.

Since the acceptance of the engagement letters in September of this year, the independent consultants have further refined and made adjustments to the processes, procedures, and methodologies outlined in the engagement letters in consultation with OCC supervision staff.  Therefore, in many cases the review processes being implemented may differ in some respects from those described in the engagement letters because of subsequent coordination with the OCC.  In particular, there were a number of changes made to integrated claims process to ensure a single, uniform process among the servicers.

Pursuant to 12 C.F.R. § 4.12(c), the disclosure of the engagement letters at the OCC’s election has no precedential significance.