106 Malibu Colony News: The Wells Fargo Scandal

Wells Fargo might be in deep trouble now that someone has finally discovered a secret about them that should not have been discovered in the first place. Amidst all the speculations and rumours about Wells Fargo abusing the process of foreclosure proceedings, it would have still remained to be so unless provided with some strong evidence.

It was only until Linda Tirelli, the attorney of a certain homeowner who has become the victim of this harsh foreclosure, who finally took the challenge and tried to find ways to give Wells Fargo what it deserves. It has been a cruel and hard case as it has been a reality that time that to fight a legal case against Wells Fargo is like fighting against a giant. Wells Fargo has been considered to be one of the biggest companies in the field of banking and foreclosure financial services.

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What gives?

The company was very  much adamant that they have been keen on following only what is just and legitimate all throughout the whole foreclosure processes on homeowners who were unable to pay off their mortgage. In fact, it was even pointed out that they are very much legal and primarily focused on customer satisfaction – a thing that is negated by their borrowers and mortgagors. 106malibucolony.com hosting by HostGator Coupon

So, Wells Fargo thought they can get away because these are only mere suspicions that these people had against the company. The sighting of a certain bank employee representing their company having beach parties on some foreclosed houses may even be considered to be an isolated incident – a case which is being committed only by a single person alone who happens to take advantage of his position in Wells. So far, he was removed from employment.

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However, one of the 106 Malibu Colony News now contains a news that will not give the company enough reason to just deny a simple allegation since it is now supported with a strong, well documented evidence. This is the 150 page manual of the Wells Fargo as to how they go about the foreclosure proceedings without having all the necessary documents that are considered to be crucial and vital to carry on with the process. Unfortunately, these lacking documents should come from the homeowners themselves. And yet, it was even made clear that there has been more foreclosure cases that have happened even without the knowledge of the homeowners themselves as this is one of the requirements needed to effect the act. Such can be evidenced with a document which the company failed to provide.

They can lie all they need and that the bank stresses that they have allegedly lost these documents. However, it could not have been so as either way, it still questions the reliability of their company to work professionally and ethically. This has already spiraled down their reputation and it can be a hard damage control to make on the part of the company as they have already  made more claims in order to conceal the dirty work that they have been making.

 

106 Malibu Colony News Reveals a Foreclosure Scam Company

The company Wells Fargo was clever enough to make a descriptive manual as to trying to fabricate loss of various documents during some foreclosure cases on various home owners in an attempt to cover some shady transactions. This has raised serious concerns amidst federal regulation companies and state law protectors and has made the company a major cause for critics.

While all these allegations have been hurled against the company, the bank continues to deny that they have ever committed something that is illegal. However, the bank still continues to suffer a lot of claims. One of which is their alleged practice known as the “robo-signing”.  This is a practice in which Wells fabricate a lot of paper works in order to quickly facilitate foreclosure processes especially on home owners who are struggling to pay off their mortgages. This has been a common case during the recession which triggered this bank to do such a thing.

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Indeed, such was abusive practice done by the Wells Fargo in which this has led to a national mortgage settlement provision for the bank amounting to $25 billion. This should have put an end to the problems on the mortgage problem but still the bank did nothing for it.

Homeowners fight back

Now, a certain bankruptcy lawyer by the name of Linda Tirelli decided to represent a certain oppressed homeowner who was currently facing foreclosure case with the bank. Accordingly, she found out of the 150 paged manual owned by the Wells Fargo bank which detailed in particular the process involved in the foreclosure proceedings.

It stated therein that in order to proceed with the foreclosure process, there has to have an endorsement letter from the homeowners themselves which would certify that such person own the said mortgage – otherwise, a foreclosure process would not at all be effective.

Wall Street Journal has even confirmed that such document, the endorsement letter, is one of the key documents needed for a foreclosure process to even take place. This is where the homeowners who are fighting for foreclosure process are not fighting for as they recall to not have signed any papers of such. In fact, this is also considered to be a strong case as also pointed out by Attorney Tirelli.

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The said 150 page outline found from the Wells Fargo has been considered to be a main evidence for fraud as absence of the said documentation provides solid grounds for fraud to be filed for the bank.

On the other hand, the Wells Fargo is clear on making any feedbacks or comments whatsoever as to the existence of the said outline or manual. It was even claimed to have been considered to be a legitimate set of documents however that was only verified by one of its spokeswoman, Vickee Adams which may declare biased statement on behalf of the company.

But whatever the cause it may be, there is indeed a misrepresentation of documents and facts as Wells Fargo was not at all accurate in the documents presented throughout the whole process.

106 Malibu Colony News: The Real Problem about Unstructured Finance

It is very much common to note that most people suffer, in one way or the other, with their loan obligations. Now, if you have been keen with the terms and conditions that were stipulated during the loan, you would not have an extreme trouble as to how you would manage to make monthly repayments for your loan.

Now, it may be an inevitable reality that there are some borrowers who would be having problems in settling their loan obligations or their mortgage. Should this happens, one should also know this – that there are also mortgage made on home payments that may turn out to be more costly as compared to the actual cost of the house. This has been the excruciating reality that most borrowers and mortgagors usually experience in the field of mortgage settlements.

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The truth about unstructured finance:

Now, there are companies in which the very objective of which is to particularly help mortgagors to find ease and convenience on their monthly mortgage payments. Indeed, because of the difficult of the times, it has been deemed difficult to constantly be able to consistently pay dues on time. This is where these special companies work on their specialty.

There are various mortgage brokerage firms and specialists which are aimed to particularly restructure their finance terms. This can be done by extending the credit terms or extending the number of years their outstanding mortgage balance should be settled. The effect of which is that they would be able to update the delinquency of their accounts and at the same time, they don’t have to pay for a hefty amount of monthly mortgage as this can be lessened through the extension of the number of years to pay.

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Thus, it would only mean better economic stance on the part of the mortgagor. He will be able to finally save his house and that one should not have to worry about his house to be sold or be put to sale in order to settle his loans. To know more, check The Guardian.

Unfortunately, there are some companies or lending institutions which refuse to re-structure their finance agreement with the borrower. Most would rather think that this is intended or even premeditated as they do intend on encumbering the real estate of the borrower.

While it is true that this usually complies with the normal mortgagor – mortgagee terms and conditions, it somehow is very much contradictory to the conduct and etiquette that should be have been observed when it comes to being more considerate on mortgagors who may have fallen victim of economic difficulties.

Even the Obama Administration has even made some efforts in order to assist people on their mortgage payments through various mortgage and loan reconstruction. Thus, it would only be fitting and proper for various firms to also do the same and not let their borrowers suffer the terrible consequence of being left without a house just because they could no longer pay their mortgage and that their residential lot has been the collateral asset for such a condition.

 

Looking for Party Houses? Check 106 Malibu Colony News

Now, there is a better way to enjoy parties in some kick ass modern houses! If you think you had every great idea put to practice already when it comes to organizing parties and events, then you might have probably missed this great idea.

Wells Fargo couldn’t have done a lot better when it comes to unique ways in holding parties and events. While it is true that Wells Fargo is considered to be one of the leading provider of mortgage, investment, and banking services, it has been considered to be recently notorious for having a shady sideline.

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How to get one?

This is one of those instances in which knowing people in high places should really matter. It’s not that it is impossible to have one, but for as long as you know someone, say a certain Walls Fargo executive, then that big guy up there would do everything in his power to get one of the best houses subject for foreclosure and have it turned as a party house overnight.

106 Malibu Colony News Reuters may even prove to the veracity of this statement. The great Wells Fargo which has been known to provide various financial services is now on the go in providing cross selling services. Having found out the potential of a sleeping source of revenue, Wells Fargo’s great initiative and unorthodox marketing strategies have paved way for a great business opportunity.

Surely, we don’t know how everything starts. Should one book for reservation? Or should one contact a certain representative in Wells Fargo? Or maybe, there is a covert number hidden in their website somewhere that allows you to contact the person in charge for that party that you so want to happen in that great house somewhere which is subject for foreclosure.

But, whatever it is, it has successfully penetrated the laws governing the protection of structuring finances and has slip away from authorities to the point of becoming the neighbor or a passersby who would do nothing but be dumbfounded and surprised to see that a certain bank employee is seen in that foreclosed house which has been the cause of ruckus in the middle of the night due to extreme partying.

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It can be a great deal when you intend to use a gorgeous house by the beach for your party. Sure, foreclosure has made it inaccessible to be resided by the family previously living in but it wouldn’t hurt for it to be used as any random individual’s rave party right?

However, being true to the cause of their main role, the big bosses of the Wells Fargo later fired that employee for running parties in foreclosed employees? Perhaps, there was something wrong in how he handled the entire reservation of that beach party and that has led to the demise of that employment.

Nevertheless, the word is still in the neighborhood that another foreclosure in Wells Fargo could mean another great house party in the making. And for those who might want to book one, try contacting Wells Fargo.

106 Malibu Colony News: Finding an Odd Squatter

There is a great reality that is happening right now especially in the case of various houses that have been foreclosed. While it is true that there is an increasing reality that more and more people are unable to pay their mortgages whenever they fall due, there is another problem which is at stake here and that such houses and real estates have commonly become victims of vandals and various negative elements such as being the venue of most drug dealings and lawless elements.

Now, it is indeed true that this is the current reality in most foreclosed properties. However, there is another seemingly more pressing issue at hand, and that is the issue of various bank officers taking advantage of the said bank’s foreclosed properties.

106 Malibu Colony

106 Malibu Colony

An issue to seriously settle:

To be in particular, a certain Vice President of the Wells Fargo and Company was found to unusually settle in most of the foreclosed properties. The irony of it all is that this officer is directly responsible in the facilitation of the foreclosure of most properties.

It has even put in media publication particularly in the LA Times and the 106 Malibu Colony News. Accordingly, this certain executive from Wells is actually responsible in the many foreclosure processes of most properties. This person was actually seen having lucrative parties and even holding a beach party in a certain beach house that is said to be under foreclosure which is significantly worth $12 million. Now, this is the main explanation why most real estate agents are wondering why the Wells Fargo is refusing to subject these houses to foreclosure processes.

Now, to make matters even worse, the family who lost the said house had no other choice but to do so due to the fact that they have been a victim of the Ponzi scheme. This Wells executive known as Cheronda Guyton is the person responsible for throwing expensive parties and that he even had the audacity to invite guests who actually came there by yacht.

106 Malibu Colony

106 Malibu Colony

The moment this was found out and was immediately brought to the concern of the Wells Fargo, the only response that was received is that the Wells Fargo will be making a more thorough investigation on such matter indicating that the said incident is an isolated case.

However, one might think otherwise. It is because Wells Fargo is not actually on its great year. Although such company has been hailed one of the biggest mortgage lenders of the nation, there has been some compliance issues that they have failed to follow. This is with regards to the proper modification of mortgages which are troublesome and are at risk of foreclosure.

In as much as the Obama Administration’s advocacy to assist in the prevention of various foreclosure plans, Wells Fargo still insist on their own policy which highly contradicts the administration’s mediation. This only goes to show the true intention of the company on their personal interest on the various foreclosed assets. Indeed, such would show the total lack of credibility of such company.

 

106 Malibu Colony News: Finding Justice in Foreclosures

This is the reality that most mortgagors are facing right now – the reality of the possibility that sooner or later, they might not be able to satisfy all their debts especially whenever they fall due. While it is true that these people might have tried so hard to pay their debts and obligations on time, the severity of the present economic condition may be a great hindrance why most of these mortgagors might not be able to finally settle their mortgage on time.

In Malibu for instance, there is enough rage among the common people who are living their lives one day at a time, financially. They have been so pressured and caught up with trying to pay their mortgage on time and yet somehow, the economic difficulty is too overwhelming. It got so overwhelming for them to the point that it reached its limit and that they end up having to surrender to surrender their homes.

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It can be harsh and cruel but that is how mortgages and foreclosures work. If an individual is unable to meet his mortgage and may fall delinquent for several months, his home will be subject for foreclosure and that such individual has to give up his home and put his house in auction. The proceeds of such auction will be used to finally settle his delinquent account.

Where is justice here?

There is much debacle that is currently brewing right ever since the 106 Malibu Colony News reported that the bank which should be responsible for the foreclosure process of such house is not exactly doing its job. In fact, it is only doing its leisure time in the very house where the foreclosure is currently ongoing.

Now, it is not to say here that all banks are like so. However, there is this particular bank which has been doing this illegality for quite some time now. Neighbors and passersby have began to notice it and can even confirm that some bank executives and mortgage officials have been reported being sighted on the said house doing parties and great celebrations as it if was theirs.

To add more insult to the injury, these officials have even refused to put such house in public auction. This has baffled most real estate brokers and companies since they don’t see the reason why the bank has to delay such an act where in fact, it is the only way for the mortgagors or the delinquent buyers to be able to finally settle their obligation to the bank.

Now, people are now raging and very much angry. Most families have been left with no home so as to settle their dues and yet the houses that they were living in have been used as party venues for the bank officials who should make the necessary action to put the house on its proper foreclosure process.

The government may have had some helpful programs to remedy such an incident and aid mortgagors in their obligation but the failure of the bank to follow these programs is very much distressing.