Insider Says Wells Fargo’s Independent Foreclosure Review for OCC is “a Sham”
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Insider Says Wells Fargo’s Independent Foreclosure Review for OCC is “a Sham”.
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March 1st, 2012
Whistleblower Wrote:
I was hired as one of those “Independent File Review Specialist” at a company called Promontory working on Wells Fargo Bank. I have 15 years industry experience in all facets of the mortgage & title industry, and just needed a job at the moment. I must say the whole project is a mess, and a terrible joke on the victims of foreclosure and the American people. It’s a total sham.
I have found errors that should be moved up through the ranks, but am told “quit digging so deep”…”put your shovel away”…Focus on the questions “in scope”… The review forms are set up so no harm could ever be found. It’s equivalent of an attorney presenting his case to a judge with just 20% of the evidence.
I would also like to mention that I was brought in through a temp agency…..some of the people brought in with me do not know the difference between a truth in lending statement, and a note. It’s a shame, these are your reviewers!!! The supervisors don’t want any trouble…they are mostly temps too, just trying to get a promotion to full time. Does this sound like a fair and impartial review to you? Since we’re temps I suppose that’s impartial, not to mention they made us “affiant notaries” so we can so-called “notarize each others reviews.”
The foreclosed victims don’t realize if they do not provide specific dates on the intake forms… their complaints are considered “general comments” out of scope. They should specifically ask for a “full file review” and hopefully their info has not been scrubbed or purged… I could go on and on, but I just felt I needed to share this.”
Promontory excels at helping financial companies grapple with and resolve critical issues, particularly those with a regulatory dimension. Taken as a whole, Promontory professionals have unparalleled regulatory credibility and insight, and we provide our clients with frank, proactive advice informed by evolving best practices and regulatory expectations.
Promontory is a leading strategy, risk management and regulatory compliance consulting firm focusing primarily on the financial services industry. Led by our Founder and CEO, Eugene A. Ludwig, former U.S. Comptroller of the Currency, our professionals have deep and varied expertise gained through decades of experience as senior leaders of regulatory bodies, financial institutions and Fortune 100 corporations.
“Gene, the Founder and Chief Executive Officer of Promontory Financial Group, is a trusted adviser to many of the world’s leading financial companies. He is widely recognized as a farsighted thinker on the most pressing issues confronting financial services. Before founding Promontory, Gene served under President Clinton as U.S. Comptroller of the Currency, the head of the federal agency responsible for supervising the preponderance of U.S. banking assets. He went on to become Vice Chairman and Senior Control Officer of Bankers Trust/Deutsche Bank.
“As Promontory’s Chief Executive Officer, Gene provides hands-on leadership and direction to all our global offices.”
“For more than 40 years, Mr. Moses was a partner in the Washington, D.C., law firm of Covington & Burling. His public service has included terms as Special Adviser and Special Counsel to President Jimmy Carter; as American Ambassador to Romania; and as Special Presidential Envoy for the Cyprus Conflict.
Wells Fargo’s Independent Foreclosure Whistleblower Interview
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5 Comments
The government has never been to help its citizens, once we get that idea behind us, we can protect ourselves by joining together and exposing all of the frauds.
Picture this. A map of the country. Click on your state. Click on your county. Enter your address and up pops every document relating to you property that has ever been filed by anyone. A complete property history with every docx document, illegal transfer, correction to assignments, all available in PDF format for anyone to download.
Then IRS form 211 to be a whistle blower who gets paid when the taxes are paid by the banks who defrauded the IRS.
The SEC complaint forms for those violations to be reported.
And we just keep adding more and more documents. A counter on the sight clicks through as documents are added from all over the country, even if a courthouse visit is needed.
Only something like this will let everyone know the truth about the scams.
How about it? Are you a programmer that could wire in and create the sight?
Are you a volunteer who will search the court records?
I am searching them now and am amazed at how many there are. Far more than any 750,000 projected.
That is what social media s for. To show the truth.
Sue,
I’m not a programmer but could be a volunteer for doc search, I would like to say your idea is very good and not too far fetched. Have you seen the futuristic , but its now, ideas
behind some the companies Like (Inqtel, ) that have sprung up, after the big event that washed the nation with the patriot act. Well some of those have software and ideas similar to yours, but the subject mater is you, me, John, among others and all the data capture that goes along with us. Anyway random ranting, I still like your idea.
Take care .
I now have to try and get my outlaws house back and not be evicted.
Best Regards
Tim Palmer
I knew it. I called this 6 months ago John. WHEN ARE PEOPLE GOING TO WAKE UP AND REALIZE OUR GOVERNMENT IS FULL OF NON-DECISION MAKERS WHO HAVE NO INCENTIVE TO CONTRIBUTE TO THE WORLD, BUT RATHER MUCH INCENTIVE TO FOLLOW ORDERS AND NOT THINK FOR THEMSELVES?!
AND WHEN ARE AMERICANS GOING TO STOP TRUSTING THIS CORRUPT GOVERNMENT!? WOULD THESE SAME HOMEOWNERS INVITE THE THIEF WHO STOLE THEIR 42″ TV BACK INTO THEIR HOME TO DO AN INVESTIGATION OF THE CRIME SCENE?
THE GOVERNMENT WORKS FOR THE BANKS PEOPLE!!!!!!
HELLOOOOOOO-OOOOO!!!!
WHAT HAPPENED TO INNOVATION; CREATING SOMETHING GOOD FOR THE WORLD, YOU KNOW?
IT APPEARS AS THOUGH ALL PEOPLE HOPE FOR ANYMORE IS A POSITION WITHIN A GOVERNMENT THEY KNOW NOTHING ABOUT DOING THINGS THEY’RE TOLD TO DO.
PEOPLE NEED TO CHALLENGE THE NORM…QUIT FOLLOWING THE HERD. DON’T PEOPLE QUESTION ANYTHING?
HECK – I’LL GLADLY HIRE GOVERNMENT WORKERS, TELL THEM TO QUESTION EVERYTHING AND HELP THEM FIND THE DIGNITY THEY LOST MANY YEARS AGO. IT’S LIBERATING TO THINK FOR YOURSELF AND MAKE YOUR OWN DECISIONS YOU KNOW? SIX FIGURES IS WHAT I AM OFFERING. WE NEED THE HELP BAD – PLUS I WANT TO SET THESE JAILED SPIRITS FREE!!
From my experience, the Wells Fargo review through the OCC falls into the category of “sham.” They reviewed our paperwork and then just told us that our foreclosure and subsequent eviction are valid. This is even when we sent them a securitization audit, MERS info., title report, robo-signing examples, and so on. The defects is staring them in the face.
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It is perhaps a stupid idea to have a foreclosure review performed by the same bank that foreclosed on you. They will NEVER admit they were wrong unless you are featured on 60 Minutes or something.
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To top it off, they phoned with their decision on the morning of the announcement of the AG’s settlement.
Their strategy is so obvious. Just throw them over there to the settlement and we don’t have to do anything.
We have been working with Wells Fargo for exactly one year and one month. and They have finally turned it down for the second time, even though all of the numbers match their criteria exactly.. In 2009, they had even approve a Modification, and paid $500.00, after making 12 on time payments. A request for documents, has been sent certified mail, asking them to disclose everything and to produce every document. Friday, a lawsuit will be filled – Friday, and there will be absolutely no turning back. Mr. Struggling American. Please watch for a weekly update.