Wells Fargo Investors Sue Wells Fargo Executives and Directors
By Daniel Edstrom
DTC Systems, Inc.
Thanks to Oktay for this complaint.
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This action arises out of individual defendants’ (as defined herein) illicit business practices and improper statements in connection with its mass processing of loan ownership and servicing documents in furtherance of its efforts to foreclose on lendees whose mortgage loans had entered delinquency. In particular, the Individual Defendants are responsible for the Company employing illegal practices, including fabricating, improperly altering, or attesting to false information in documents filed with courts to facilitate the foreclosure of homeowners. For example, Wells Fargo servicing agents falsely maintained in court-filed affidavits and attached loan documentation that the Company was the legal owner of the loan on which they sought to foreclose without reading the affidavit or examining the information contained in the loan documentation. These improper practices called “robo-signing,” lead to filing and false sworn documents to the court and the wrongful foreclosure of homes for which the Company did not have legal ownership rights. Continue reading “Wells Fargo Investors Sue Wells Fargo Executives and Directors”