+- Rogue-Nation3 (https://rogue-nation3.com)
+-- Forum: Controversy and Debate (https://rogue-nation3.com/forum-19.html)
+--- Forum: Off Topic (https://rogue-nation3.com/forum-109.html)
+--- Thread: Wells Fargo Makes Major Mistake (/thread-3636.html)
Wells Fargo Makes Major Mistake - Mystic Wanderer - 08-04-2018
Ain't this a fine howdy do?!
Imagine losing your home because of a stupid "mistake" made by a bank!
Something about this smells really fishy. I bet someone took the money and they had to cover it up by saying someone made a mistake.
Lord, let me live long enough to see these corrupt people out of business, office, etc.
![[Image: 2018-08-01T155346Z_618437283_RC12A05EC2E...JPG.cf.jpg]](https://s.yimg.com/lo/api/res/1.2/Phbgv1EMDNu1LlqOEVhKfA--/YXBwaWQ9eW15O3E9NzU7dz02NDA7c209MTtpbD1wbGFuZQ--/http://media.zenfs.com/en_us/News/Reuters/2018-08-01T155346Z_618437283_RC12A05EC2E0_RTRMADP_3_WELLS-FARGO-ACCOUNTS-AUTO.JPG.cf.jpg)
FILE PHOTO: A man walks by an ATM at the Wells Fargo & Co. bank in downtown Denver, U.S., April 13, 2016. REUTERS/Rick Wilking/File Photo
Quote:CHARLOTTE, N.C. (AP) — Wells Fargo says a company mistake contributed to hundreds of foreclosures because it miscalculated customers' eligibility for mortgage modifications.
The bank said in a filing Friday the error caused about 625 customers to be denied, or not offered, loan modifications they otherwise qualified for. Foreclosures were completed in about 400 cases.
The customers had been using federal programs that helped families at risk of losing homes. A spokesman didn't immediately respond to a question about where the foreclosures were.
The error in the bank's underwriting tool lasted from 2010 until it was fixed in late 2015, an internal review found.
The bank said it set aside $8 million this year to help the affected customers.
With its main corporate office in San Francisco, the bank employs thousands in Charlotte.
They set aside $8 million to help those affected. Sure... a little too late after the people have already lost their homes!
If I was one who was affected by this, I would sue them, and it would be for more than $8 million. Just look at the stress these people had to go through. Moving is a bitch; I know!
RE: Wells Fargo Makes Major Mistake - Mystic Wanderer - 08-05-2018
Dianne Feinstein is married to billionaire Richard (Dick) Blum. Dianne is herself a millionaire. Working together they made a killing during the housing crisis, and acquired the deserved title as slumlords.
My gut tells me the people at the top of Wells Fargo and Blum were working together to scam the rightful homeowners out of their property.
I'll have to do more digging to make sure, but it seems to fit. Sometimes when you go down the rabbit hole, you never find your way back out... too many tunnels to take... all leading to more corruption.
RE: Wells Fargo Makes Major Mistake - Mystic Wanderer - 08-05-2018
Here is a better article I found to read more.
Quote:
Tuesday, April 21, 2009
EXCLUSIVE: Senator's Husband Cashes In On Crisis
Washington Times:
April 21,2009
Feinstein sought $25 billion for agency that awarded contract to spouse:
EXCLUSIVE:
On the day the new Congress convened this year, Sen. Dianne Feinstein introduced legislation to route $25 billion in taxpayer money to a government agency that had just awarded her husband's real estate firm a lucrative contract to sell foreclosed properties at compensation rates higher than the industry norms.
Mrs. Feinstein's intervention on behalf of the Federal Deposit Insurance Corp. was unusual: the California Democrat isn't a member of the Senate Committee on Banking, Housing and Urban Affairs with jurisdiction over FDIC; and the agency is supposed to operate from money it raises from bank-paid insurance payments - not direct federal dollars.
Documents reviewed by The Washington Times show Mrs. Feinstein first offered Oct. 30 to help the FDIC secure money for its effort to stem the rise of home foreclosures. Her letter was sent just days before the agency determined that CB Richard Ellis Group (CBRE) - the commercial real estate firm that her husband Richard Blum heads as board chairman - had won the competitive bidding for a contract to sell foreclosed properties that FDIC had inherited from failed banks.
About the same time of the contract award, Mr. Blum's private investment firm reported to the Securities and Exchange Commission that it and related affiliates had purchased more than 10 million new shares in CBRE. The shares were purchased for the going price of $3.77; CBRE's stock closed Monday at $5.14.
Read the full article here: Source
Even if it wasn't Blum who grabbed up the foreclosures connected with Wells Fargo, you can bet your sweet bippy there was some dirty politician standing there to grab them up. What'cha want to bet?