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« Taxpayer Funded Mortgage Fraud 101 | Main | Highly Ranked BofA Strategist Says S&P May Fall 20% More In 2011, 2-Year Treasury Hit 0% »
Tuesday
Sep132011

Let's Play Find The Wells Fargo Fraud! - What's Wrong With This Mortgage Assignment? (Time Travel Required)

Wells Fargo Fraudulent Assignment of Mortgage

Guest post from Chunga at Foreclosure Hamlet

---

Evidence of mortgage fraud time travel.

Here's a hint - MERS assigns to Wells Fargo.

Same day, same person, same notary assigns from Wells Fargo to Fannie Mae.

From one of the comments at the OP on Hamlet:

"So Janice works for Franklin American Mort Corp. in Flint, MI and Assigns the mortgage as an Asst. Sec'y for MERS to Wells Fargo in Iowa, and she has the assignment notarized in Dakota County, Minnesota."

"Then, on the same day, she also works for Wells Fargo in Iowa, and assigns the mortgage to Fannie Mae in Philadelphia, PA and has it notarized again in Dakota County, Minnesota?"

"First, Lets just assume that it's legal to have an assignment of mortgage from a company in Flint, MI to be notarized in Minnesota for a company located in Iowa.  And then let's also assume that a company in Iowa can have an Assignment of mortgage notarized in Minnesota for a company in PA."

"Is this sort of behavior legal?  Or could it be FRAUD?  Hmmmmmm, Flint, MI to Dakota, MN, a mere 581.8 miles apart.  That's nearly a 12 hour drive w/o any highway mishaps, oh, and you better have the ability to walk on water, otherwise, its a 688 mile drive under Lake Michigan and over 12 hours. Typically, banking hours are between 8am & 5pm.  That's a total of 9 hours.  Maybe she should have saved gas and just driven to Iowa.  It's only 10 hours away."

Pretty neat trick huh?

There is something very sinister about this amazing time travel.  It is my belief that these individual mortgage obligations live in more than one savvy MBS investor's "book."  Each manifestation of the obligation is insured against default for the full outcome based appraisal "value."

Each investor is made whole via insurance and thanks to AIG, who of course was caught by surprise, has no choice but to dump the whole mess on the taxpayer.  Meanwhile, the "servicer" purchases (for pennies on the fiat) the right to pursue the extinguished debt and seek as many deficiency judgments as possible.

Not to mention the fact that clear chain of title on millions of homes (in default or not) are destroyed. Further, if the obligations fail to make their way to the trusts within the REMIC window, throw massive tax evasion into the mix.

More on the taxpayer-funded fraud is at part 2 of this story:

 

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Reader Comments (6)

Thinking of mailing in the keys and walking away? Fight these pricks. Just so people know - I have uploaded a bunch of legal filings to Scribd. The way Scribd works is they allow you to download a few public files for free. After that, Scribd asks for money (not me...lol) UNLESS you have an account and upload some docs of your own, then it remains free. To be clear I never recieve a penny from Scribd nor do I wish to. I'm going to upload a brand spanking new Amicus Brief today that is awesome.

If you can suffer through reading a 40 page legal doc this one is actually hilarious in the manner in which the fraud is surgically disected. This is good stuff for lawyers.

http://www.scribd.com/doc/52370037/United-States-District-Court-District-of-Rhode-Island-Moll-Brief
Sep 13, 2011 at 10:41 AM | Unregistered Commenterchunga
Do you want to see how 25,000 fraudulent docs look like? Be my guest -
http://boston67.blog.com/peoples-hero/

This is the most challenging time in our recent history and only We, the People can bring about the much needed shift so we can be able to build our American dream once again.
Housing crisis today is the most important issue that we are facing as the nation. This crisis has spread over all areas of our lives due as a plaque.
Sep 13, 2011 at 11:26 PM | Unregistered CommenterSenka
Wells Fargo is immune to any litigation and any kind of judgment our corrupt judicial system manages to inflict on them is a slap on the wrist. These globalists are so bold, brazen and in your face that they now dare to charge We The Slaves a tax for using their services. Yes...the sheeple will keep using their services because it's only a few dollars...right?
But what about later when that little tax is increased and tagged on to more of their so called services?
Well keep on using your plastic because in October these warm and fuzzy globalists are going to charge the sheeple a $3.00 debit card activity fee.
Think it'll stop there?
Nope;)
Sep 14, 2011 at 9:29 AM | Unregistered CommenterRoadScribe
@ All

There WILL be a Lis Pendens filed on this case. WF and the banking cabal want you to believe they are immune. They do not want anyone to believe they can fight back. It's a little strange but somehow I think it is more difficult in a so called "judicial" state where the homeowner is always named as the defendant. Being a "defendant" implies guilt.

In a "non-judicial" state it is the homeowner who files suit and names the alleged lender as defendant(s).

Hopefully I will get my hands on the Lis Pendens and we can watch it play out. A big part of what I *try* to do is encourage lawyers to hone their craft and go on OFFENSE. There are a few out there. We need more Fight Club Lawyers who are not afraid to mix it up with the TBTF crowd.
Sep 14, 2011 at 10:13 AM | Unregistered Commenterchunga
As a disabled veteran i bought a WELLS FARGO VA Backed home, when my health and injuries got worse, i contacted WF to let them know I would have major personal out of pocket expenses and do they have an assistance [program} they said NO that the loan was sold to Goldman Sachs, who said they sold it in a Pool of loans to NY Mellon bank, who said they sold it to Islamic Development Bank who transferred it to " Ginnie Mae" Ginnie Mae says investors from Iran are the owners of the pooled loans and secret not open to public inspection ? Then on Thanksgiving early morning a thug from WF came to the home tried to enter yelling WF wants you out now. etc... so all of what WF is doing is illicit and engaged in money laundering, wire fraud, deceptive business practices, fraud and threats. Then I learn the Deed of Trust they filed is void and has incorrect information clouding the title what a nightmare. WF called said they were sorry about the guy coming to the home he was a third party company they will not use to intimidate homeowners in the future. I highly suspect serious violations of the US Patriot Act and many other federal and state laws.
Dec 5, 2011 at 11:30 AM | Unregistered CommenterScott
UPDATE: (must read)

Sham OCC Reviews Found to Be a Sham

http://news.firedoglake.com/2012/02/24/sham-occ-reviews-found-to-be-a-sham/

[snip]

As it turns out, Martin Andelman, with excellent timing, got an insider at Wells Fargo to expose just what a sham these foreclosure reviews are.

"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."
Feb 26, 2012 at 12:50 PM | Registered CommenterJohn

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