Listen to the audio story here:
Outside of the Sentinel newspaper building, a small group gathered to protest Wells Fargo and its management of home loans and mortgages. The group said Wells Fargo preyed on the disadvantaged, citing the elderly and minority groups as two common victims.
“Well, they’re basically using scare tactics and, unfortunately, with the elderly, the elderly just don’t have I guess the ability to be able to comprehend what is going on, so they are basically victims,” said Pedro Baez, a South Los Angeles community leader.
Specific allegations against Wells Fargo include the bank’s falsifying of documents, lying about interactions with customers and claiming to have lost key documents in customer’s loan processes. Ophelia Harrison brought her friend’s bank paperwork to the event to share with other protesters.
“I’m here because I’m concerned, not just for myself, but for other people across the nation,” Harrison said.
Jennifer Langan, a Wells Fargo representative, described these accusations as “outlandish.” Langan also said since the beginning of 2009, Wells Fargo has helped more than half a million customers keep their homes from foreclosure.
“Foreclosure is a difficult and damaging process for our customers and our communities, and it is a last resort after all available options for keeping the customer in the home have been exhausted,” Langan said.
Carrying signs and a blowhorn, the protesters’ next stop was a nearby Wells Fargo bank.
People need stop blaming others for their mistakes. Take ownership and responsibility of your ignorance. The bank owes you nothing.
I had the same thing recently happen to a family member. They tried to fast talk her into refinancing her mortgage for 30 years. This is the WFF in Compton. They were very harassing, spoke in circles when asked questions and then would not cancel the loan application when asked. We had to file a complaint with the office of the comptroller just to get them to do so. If I had not got involved my family member would have been screwed (she’s a senior). Compton has a very big senior community and I think at least some investigation is warranted.
I believe they WFF has done the same thing in Compton! We need to not boycott but FILE A CONSUMER LAWSUIT!
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Banks have been getting to much power and we have been bailing them out so often. We have to start helping the public being aware of these things also.
Wells Fargo and its army of attorneys knew it is Category C felony to make mortgage loan and foreclose home based on fraudulent appraisal. However they chose to defraud us by foreclosing our home.
Wells Fargo committed prosecutable crime against us. We lost our home. Something is wrong with this picture.
Here are the facts.
1. it is illegal for Wells Fargo to make mortgage loan to us based on hugely inflated appraisal.
Fact: – Wells Fargo’s fraudulent appraisal valued our home at $718,000
– Wells Fargo’s own review appraisal valued our home at $475,000
– Nevada Attorney General’s office suspended the appraiser’s license for committing appraisal fraud on our home.
– Nevada Appraiser Licensing Board mandated the appraiser to complete appraisal fraud course before regaining his real estate appraiser license.
– Nevada Revised Statue NRS 205.372 states that it’s category C felony to make mortgage loans based on fraudulent appraisal.
– Cases of Attorney General’s indictments against attorneys, loan brokers for teaming up make fraudulent loans to defraud homeowners.
2. it is illegal for Wells Fargo to wrongfully foreclose our home based on fraudulent appraisal and mortgage loan.
You can find all the facts on our website. http://www.wellsfargomortgagefraud.com.
Wow. I had no idea they were so crooked. At this point, I don’t know who to bank with that doesn’t bleed their patrons dry.
The money that would have gone to pay the monthly mortgage has been transferred to other, more pleasant uses. The system has brought peace of mind and financial stability to a large percentage of senior citizens who have retired and own their homes.
This national illegal immigration boycott is a slap in the face to Americans considering all we have had to deal with; with 24 million illegal aliens in our country who are not even supposed to be here. I say that Hispanic groups should not participate in any illegal immigration boycott.
I say let the illegal immigrants and illegal aliens boycott if they want to and why not make the boycott one month and not only one day and meanwhile they can take a vacation to go back to where they came from for that month and then all Americans can see that we will get along just fine without any illegal immigrants in our country at all.
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Did you know Wells Fargo Security started here in Buffalo New York? As I did research for this article most of the recorded history stated that William George Fargo an American pioneer express man from Pompey New York and Henry Wells American pioneer express man from therefor Vt. Joined forces in 1852 to form this company. New York City is sited as the point of origin. My research finds things a little different. Wells Fargo Security actually got its start in Buffalo New York.
Henry Wells as a child moved to central New York State. He was an entrepreneur at heart and in 1843 he established an express service between New York City and Buffalo. He competed with the U.S. Post Office and was carrying mail at less cost than the government.
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