Monday Morning Cup of Coffee: Did Wells Fargo pay off new mayor’s mortgage?

Powerful, yeah? I know a mayor got kinda the same deal only it cost the county $40-odd million in a bad securities deal.

Justice League

The painful legacy of the great real estate swindle

Monday Morning Cup of Coffee takes a look at news across the HousingWire weekend desk, with more coverage to come on bigger issues.

Crime may not pay, but politics certainly does, and not just with hard cash.

According to the Clarion-Ledger, when Tony Yarber was elected to the office of mayor in Jackson, Mississippi, Well Fargo paid off his mortgage.

That may be two years ago, but Yarber is not shy about discussing the event.

“Bank records show that Wells Fargo authorized the release of the remaining lien, $91,621.94, on April 22, 2014, the day of his election. Essentially, they wrote it off, Yarber said.”

“Wells Fargo said don’t worry about sending no more money,” he said to local reporter Anna Wolfe.

Yarber, a pastor, delivered a sermon declaring the lien extinguished, mentioning being part of the “very unfortunate…

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One thought on “Monday Morning Cup of Coffee: Did Wells Fargo pay off new mayor’s mortgage?

  1. You have to click through several links to get to the original Clarion-Ledger story. Here it is:

    http://www.clarionledger.com/story/news/local/2016/05/21/jackson-mayors-mortgage-vanishes-after-election/83615172/

    In that story Yarber is quoted as saying, “I think it was God’s favor.”

    So, if you’re among the “millions of Americans” that “fell to prey to” “the very unfortunate real estate swindle of the early 2000’s,” and you have not received a release of lien from your lender then … what? That is God’s disfavor?

    If you polled a random thousand of those “millions” how many of them would support the sentiment implicit in Yarber’s statement?

    Not very many I think.

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