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OUT OF MIND » THE INSANITY OF REALITY » GLOBAL FINANCIAL COLLAPSE » Wells Fargo's "How-to fraud mortgage manual" means this "Too Big To Fail" bank is going down

Wells Fargo's "How-to fraud mortgage manual" means this "Too Big To Fail" bank is going down

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Wells Fargo's "How-to fraud mortgage manual" means this "Too Big To Fail" bank is going down

Subject: Wells Fargo's "How-to fraud mortgage manual" means this "Too Big To Fail" bank is going down

Know anyone in foreclosure, might want to pass this on to them...Laurel

Date: Mon, 24 Mar 2014 13:37:30 -0700
Subject: Wells Fargo's "How-to fraud mortgage manual" means this "Too Big To Fail" bank is going down


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Fact, not conspiracy theory: Wells Fargo's "How-to fraud mortgage manual” means this "Too Big To Fail" bank is going down
[PP NOTE: Here's the link to download the actual Wells Fargo 'how-to create mortgage fraud' manual.

Posted on March 13, 2014 by eggsistense

So, once again, the  "conspiracy theory" that banks manuufacure/massage/manipulate the documents they need-but don't have-in the foreclosure context has  proven to be conspiracy fact.
Indeed, the whistleblower that went to Naked Capitalism regarding Wells Fargo a year ago was not just, umâ•�"whistling Dixie, as  it turns out. Wells Fargo indeed doctors/manufactures documents,and according to a lawsuit in New York, they actually have a manual on how to do it! Naked Capitalism quotes a New York Post article about the lawsuit:

"In a filing in New York's Southern District in White Plains for  a local homeowner in bankruptcy, attorney Linda Tirelli described a 150-page Wells Fargo Foreclosure Attorney Procedures Manual  created November 9, 2011 and updated February 24, 2012. According to court papers, the Manual details â•~a procedure for processing [mortgage] notes without endorsements and obtaining endorsements and

If Wells Fargo does it, you can rest assured that the other big banks do it-after all, they have to compete! Check out this quote that gets right to the heart of the kind of thinking that causes this copycat, groupthink fraud from an article entitled "Fiduciary Duty to Cheat? Stock Market Super-Star Jim Chanos Reveals the Perverse New Mindset of Financial Fraudsters":

"Because if now, as the senior member of a bank, or the board of a bank, I know that there are no criminal penalties for breaking the rules, don't I have a fiduciary responsibility to my shareholders to actually play fast and loose? Because if I get caught, that's just the cost of doing business?"

Yep. All the banks are doing it, not just Wells Fargo. We just don't have the other banks' manuals-yet.
This "Too Big to Fail" Bank Is Going Down
Mar 17th, 2014 | By Shah Gilani Last week I told you about "The Coming Curse of Zombie Foreclosures."

I described how folks - who thought they were foreclosed on – are suddenly finding out they are actually still on the hook for mortgage payments, taxes, and all kinds of maintenance on abandoned homes.

What I didn't tell you is that the nation's largest mortgage-issuing
bank - and the most profitable bank in 2013 - may have been bitten itself by the very zombie foreclosures it breeds.
And now it could be a dead bank walking.
The bank I'm talking about is Wells Fargo.

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Posted by John MacHaffie at 7:43 PM

Herb Lady

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Thanks Yman!

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