Wells Fargo banking unit probed for employee fraud: Report

“Workers in the bank’s wholesale unit added or changed personal information including birth dates, Social Security numbers and addresses for people associated with its business clients in 2017 and early 2018, according to The Wall Street Journal, which cited people familiar with the matter. At the time, the unit was pressed with regulatory deadlines, including one related to anti-money laundering controls.”

Justice League

The Department of Justice is probing Wells Fargo’s wholesale banking unit for fraud in the wake of reports that employees adjusted corporate customers’ information on documents without their knowledge or consent, The Wall Street Journal reported Thursday.

Workers in the bank’s wholesale unit are said to have added or changed personal information including birth dates, Social Security numbers and addresses for people associated with its business clients in 2017 and early 2018. At the time, the unit was pressed with regulatory deadlines, including one related to anti-money laundering controls.

The DOJ is said to be investigating whether management influenced employee actions, people familiar with the matter told the Journal, looking to see whether there is a pattern of behavior when it comes to management pressure.

Read on.

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Boarding Process is a Legal Fiction

EXHIBIT A: “1. Plaintiff, Ditech Financial, LLC (“Ditech”), formerly Greentree Servicing LLC, appears to have willfully violated this Court’s order to produce training manuals. The training manual produced on November 16, 2017, now appears to show that Ditech’s standard business practice does not verify prior servicer’s records for accuracy before boarding loans.

2. The training manual produced appears to show that Ditech’s witness, Christopher Ogden (“Mr. Ogden”), gave false testimony in an effort to introduce the prior servicer’s records into evidence under false pretenses.

3. On June 28, 2017, Mr. Ogden appeared for deposition, gave evasive and incomplete answers, and refused to turn over training materials upon which he relied to give his testimony about the loan boarding process and the creation of business records to be submitted in
evidence at trial under the business records exception to the hearsay rule…”

Livinglies's Weblog

Here is a case in which the court ordered certain parties and witnesses and lawyers to show cause why they shouldn’t be held in criminal contempt for lying to the court about the boarding process.

I don’t have time to do more than tell you to read it if your case involves DiTech, Greentree or Ocwen.

Notable reference: more than 1.4 million boarded loans at Ocwen with no checking for errors.

see 2017_11_20-Order-to-Show-Cause-Why-Ditechs-Witness-and-Ditechs-Atty-Should-not-be-Held-in-Indirect-Criminal-Contempt-of-Court

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How Does the Debt Get Transferred?

Livinglies's Weblog

Basic Black Letter law: A debt can only be transferred by the owner of the debt. The owner of the debt may use agents or intermediaries to accomplish the transfer of the debt. If an intermediary executes a document of transfer without reference and identification of the owner of the debt, the document has potentially fatal defects.

Parole evidence may be admitted, upon discretion of a court of competent jurisdiction. But in the end, the party claiming authority to enforce the debt in a foreclosure of the mortgage or deed of trust must prove that it is doing so on behalf of the owner of the debt.

The simplest way of doing this is by alleging or asserting the name of the owner of the debt and the fact that the enforcer is representing the owner of the debt. In the absence of such allegation or assertion it is more…

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GUTTING THE UNDERBELLY OF THE BEAST – PART 8

Yes, we want justice. We also want President Trump and Congress to recognize the Wrongful Foreclosure War on Homeowners. We want the entire securitization/rehypothecation process thoroughly investigated, audited and recognized for what is is: unlawful premeditated securities transaction with no disclosure to homeowners and frankly, failure to provide full disclosure to investors.

Clouded Titles Blog

(OP-ED, first posted: September 22, 2018) — 

The writer of this post is a paralegal and consultant to attorneys on matters involving chain of title, foreclosures and document manufacturing.  The opinions expressed herein are that of the writer’s only and do not constitute legal or financial advice.  Any use of the theories or ideas suggested in this post is entirely at your discretion and will probably result in disaster without the proper legal help.

In the segment numbered “Part 7” of these successive posts, there was a boatload of case law wherein judges did the right thing.  As you probably noticed from reading In re Wilson, it involved improper reporting of the posting of payments (all while the foreclosure was still being commenced).  Another case (M & T Bank v. Smith) involved multiple manufactured promissory notes (after the fact) that could have not possibly happened the way the…

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MA Appellate Court Tells Chase They Can’t Sit on Two Chairs With One Ass

Great headline!
“Chase knows that the so-called underlying loans does NOT include ownership of the debts.” How about that!

Livinglies's Weblog

As Charles Marshall just quoted to me “it’s always refreshing when you find a judge who follows the law.”

Chase can’t say that the Trust owns the loan since 2006 and that the loan was owned by WAMU in 2008. It can’t be both. And it can only be one allegation that survives — the “first sale.”

Let us help you plan for trial and draft your foreclosure defense strategy, discovery requests and defense narrative: 202-838-6345. Ask for a Consult.

I provide advice and consent to many people and lawyers so they can spot the key required elements of a scam — in and out of court. If you have a deal you want skimmed for red flags order the Consult and fill out the REGISTRATION FORM. A few hundred dollars well spent is worth a lifetime of financial ruin.

PLEASE FILL OUT AND SUBMIT OUR FREE REGISTRATION FORM 

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Bank of America issues apology to Spring Hill family after account closure

Justice League

Bank of America has issued an apology to Spring Hill resident Benjamin Atria Aguirre following the closure of his checking account amidst allegations of discrimination, saying that it was simply a case of “human error.”

Atria Aguirre noticed on August 29 that his checking account was inaccessible. He was not notified until August 31 that his checking account had been closed, and that a check with the remaining balance had been sent in the mail.

Atria Aguirre’s checking account was fully restored on September 4, however, as it was near the end of the month, the closure caused some difficulties in paying mortgage and bills. Bank of America has said they will cover any late fees Atria Aguirre incurred because of the account closure.

It wasn’t until a friend of Atria Aguirre forwarded him a news articlethat detailed reports of other Bank of America customers having their accounts closed…

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How to Deal with the “Free House” Bias

Livinglies's Weblog

If you are dealing with a bias held by most judges the only effective way of dealing with it is to meet the challenge head-on. If you dance around it it looks like you are trying to “get off on a technicality.”

Let us help you plan for trial and draft your foreclosure defense strategy, discovery requests and defense narrative: 202-838-6345. Ask for a Consult.

I provide advice and consent to many people and lawyers so they can spot the key required elements of a scam — in and out of court. If you have a deal you want skimmed for red flags order the Consult and fill out the REGISTRATION FORM. A few hundred dollars well spent is worth a lifetime of financial ruin.

PLEASE FILL OUT AND SUBMIT OUR FREE REGISTRATION FORMWITHOUT ANY OBLIGATION. OUR PRIVACY POLICY IS THAT WE DON’T USE THE FORM EXCEPT TO…

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[UNREGULATED] DERIVATIVE COMPLAINT – Blackrock, Pimco Sue U.S. Bank Over Trustee Roles

By Sydney Sullivan

The main focus on The Foreclosure Hour this week, Blackrock & PIMCO, et al v. U.S. BANK NATIONAL ASSOCIATION, was so powerful it deserves to be highlighted. As usual legal protocol, the Plaintiffs’ claims are accepted by the court to be true. For example, the next move for the Defendant might be to file a motion to dismiss, a court must accept all well-pleaded facts as true, viewing the facts in the light most favorable to the plaintiff.

WARNING: The contents of this complaint is likely to make certain foreclosure judges with hefty Plaintiff hedge funds preferred shares in their investment portfolios extremely nauseous.

Plaintiffs Blackrock & PIMCO and a multitude of subsidiaries, affiliates, associates, closely related and closely held companies for each sued U.S. BANK NATIONAL  ASSOCIATION for BREACH OF CONTRACT; VIOLATION OF THE TRUST INDENTURE ACT OF 1939; BREACH OF FIDUCIARY DUTY; BREACH OF DUTY OF INDEPENDENCE; AND NEGLIGENCE.  Continue reading