Wells Fargo, one of the top five largest mortgage lenders in the country, just reached a mortgage relief deal along with the other top banks in the foreclosure fraud settlement, Feb. 9.
That same day, U.S. District Judge Susan Illston, in San Francisco, ruled that the directors of Wells Fargo must face investors’ claims of improperly disclosing details of deceptive foreclosure practices and rejected its request to dismiss the allegations, as reported by Bloomberg.
Illston concluded that just the mere fact that Wells Fargo allegedly disclosed its practices deceptively, was certainly grounds for stockholders to authorize a more thorough investigation into the claims.
Wells Fargo responded to the Bloomberg article in an email insisting that the claims are false.
“The plaintiff’s allegations are false, said Wells Fargo spokesman Ancel Martinez in an e-mailed message to Bloomberg. ‘‘Our directors acted appropriately in all respects and we look forward to our day in court.’’
It is uncertain how many homeowners in need of help with foreclosure will actually benefit from the settlement with the continuous array of deceptive allegations. The Mortgage Forensic Audit can help uncover violations and provide mortgage rescue for countless homeowners.
[...] Judge orders Wells Fargo to face claims of improper disclosure of foreclosure practices (alialawgroupforeclosurenews.com) [...]
[...] Judge orders Wells Fargo to face claims of improper disclosure of foreclosure practices (alialawgroupforeclosurenews.com) [...]
Judge; has order a good thing .I was caught up in this mess ..and have been waking up and going to sleep with this mortgage for five years.I have been working on my case for five years 2006 ,I do feel the Judge is doing the right thing order banks to face claims of improper practices.There are Judges that are handling these case that know nothing about them,and over see them and the bank walk.And i have watch them laugh all the way back to the bank.I had sent many letters many pleas ,to Anchor Bank N.A, J.P,mortgage .Wells Fargo, U.S Bank.as well as the Judge, they treated me like i was a nobody I paid 4.35 to send all the letters and never go one respond .So what ever Judge is forcing these .heartless soles ( Banks) to create music to there words , My hat off to Him .And all Judges should not be allowed to rule on these cases .mainly when they do not know the 325.N law. St.Paul
Thanks for your response! I agree. Foreclosure fraud needs to end and be dealt with properly.
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