Saturday 21st November
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BREAKING NEWS: Latest U.S. Teaseury Dept. Study Shows 3.6 Billion Homeowners Have Been Offered Loan Modifications
Written on 13 Nov, 2009 at 4:21
Housing counselors and lending experts say that HAMP is having a meaningful impact on the global foreclosure rate, and Lucely Figures, a housing economist at Muddy’s expects at least another 3 billion loan modifications next year. ... (Continue reading)
Massachusetts Judge Rules Against Wells Fargo and U.S. Bank – Threatens Millions of Foreclosures
Written on 15 Oct, 2009 at 18:25
The judge also said that fixing the documents after the fact, which is what Wells Fargo and U.S. Bank did in the case he was ruling on, isn’t kosher, and I can’t believe that Wells or U.S. Bank would think... (Continue reading)
NACA’s “Save the Dream Tour” Now Disappointing Thousands in Phoenix?
Written on 3 Oct, 2009 at 0:53
So, as you might expect, our single mom tried to call her Wells Fargo representative at the number she had been given while she was saving her dream two months earlier… but she was never put through to her. ... (Continue reading)
Wells Fargo’s Exec Forecloses on $12 Million Malibu Beach House – Then Moves in for Summer Fun. And why not?
Written on 12 Sep, 2009 at 19:59
First of all… I’m sure the house-sitting Wells executive that hosted parties throughout the summer never invited anyone from Wells Fargo… or B of A… or Chase, IndyMac, etcetera, etcetera, etcetera. I’m sure most of the exec’s friends are... (Continue reading)
Arizona Judge Orders Wells Fargo to Testify on Loan Modification Practices
Written on 24 Aug, 2009 at 10:28
So, now a federal bankruptcy judge in Phoenix, Judge Randolph Haines, has ordered that a top Wells Fargo executive must come and testify about the bank's loan modification policies. ... (Continue reading)
Wells Fargo Closes Accounts if Firms Offer Loan Mod Services
Written on 30 Jun, 2009 at 7:22
Last week, when I learned that U.S. banks were systematically canceling the merchant accounts of firms offering loan modification services, thus preventing the firm from accepting payment by credit card, I was stunned. And I thought to myself… well,... (Continue reading)
Wells Fargo’s “Ghetto Loans” and the “Mud People”
Written on 28 Jun, 2009 at 22:40
Beth Jacobson says that she and fellow loan officers at Wells Fargo Bank systematically singled out blacks in and around Baltimore in order to sell them high-interest sub-prime mortgages, whether they would have qualified for prime loans or not. ... (Continue reading)
Wells Fargo May Need $50 Billion? Wow… That Was Even Faster Than I Thought.
Written on 14 Apr, 2009 at 10:01
Well, it seems like just yesterday when Wells Fargo Bank was announcing its shockingly high profits for Q1 of 2009… and I was writing an article saying that based on the Wells Fargo press release, it was time to... (Continue reading)
Wells Fargo’s Surprising Profits? Time to Go Short…
Written on 14 Apr, 2009 at 4:11
Oh, hell... the fact is, tying the amount of "credit extended" to TARP funds is ridiculous. The TARP funds were invested by the government to recapitalize banks, not to provide funds that would be lent to borrowers, and making statements... (Continue reading)
