Our financial system is crumbling this week.

[JackofDiamonds]

You could always hire yourself out to level up characters in your favorite video games, or farm for gold, etc.. I'm pretty sure people still do that.

Peer counseling would be great if you could get back into it, from what I understand, that's one of the most effective treatment methods for both sides.

[pioneer98]

Wells Fargo fabricated foreclosure papers to take people's homes away.
http://nypost.com/2014/03/12/wells-farg ... g-charges/

Wells Fargo, the nation’s biggest mortgage servicer, appears to have set up detailed internal procedures to fabricate foreclosure papers on demand, according to allegations in papers filed Tuesday in a New York federal court.

In a filing in New York’s Southern District in White Plains for a local homeowner in bankruptcy, attorney Linda Tirelli described a 150-page Wells Fargo Foreclosure Attorney Procedures Manual created November 9, 2011 and updated February 24, 2012. According to court papers, the Manual details “a procedure for processing [mortgage] notes without endorsements and obtaining endorsements and allonges.”

Those are the technical terms for the paperwork proving that the company that’s foreclosing owns the loan, and therefore has the right to kick a family out of its home. Wells Fargo services roughly 9 million home loans, according to Inside Mortgage Finance.

[IMADreamer]

Wow that's pretty low. In an ideal word the executives would go to jail and that company would just be shut down. Here in Americaland the execs will get bonuses and the company will get fined something like $38.

[haltz]

Wow that's pretty low. In an ideal word the executives would go to jail and that company would just be shut down. Here in Americaland the execs will get bonuses and the company will get fined something like $38.

[/youtube]

[AWvsCBsteeeerike3]

Wells Fargo fabricated foreclosure papers to take people's homes away.
http://nypost.com/2014/03/12/wells-farg ... g-charges/

Wells Fargo, the nation’s biggest mortgage servicer, appears to have set up detailed internal procedures to fabricate foreclosure papers on demand, according to allegations in papers filed Tuesday in a New York federal court.

In a filing in New York’s Southern District in White Plains for a local homeowner in bankruptcy, attorney Linda Tirelli described a 150-page Wells Fargo Foreclosure Attorney Procedures Manual created November 9, 2011 and updated February 24, 2012. According to court papers, the Manual details “a procedure for processing [mortgage] notes without endorsements and obtaining endorsements and allonges.”

Those are the technical terms for the paperwork proving that the company that’s foreclosing owns the loan, and therefore has the right to kick a family out of its home. Wells Fargo services roughly 9 million home loans, according to Inside Mortgage Finance.

But they're not fabricating foreclosures. Or, in other words, they're not kicking out people paying their mortgages because they (the banks) want the home. They're kicking out people not paying their mortgages and the paperwork of who owns the loan is in question, from what I understand.

Even the premise for a bank fabricating a reason to foreclose seems fishy, no? I mean, the bank wants you to pay the minimum amount owed on your mortgage every month way, way more than it wants the deed. From the very basic business side of it: the bank has an asset in a mortgage payer and a liability in a foreclosed home. Why turn an asset into a liability while doing something illegal/shady/unethical?

Not that I like banks or wells fargo. But, they're just trying to protect their investments.

[IMADreamer]

It's too bad Elizabeth Warren is the only person in all of Washington fighting the banks.

[AWvsCBsteeeerike3]

Yeah, that video is pretty good. just to clarify my position, I'm not saying Wells Fargo gets a free pass because of the ends justifying the means or anything. I think if they broke the law, or did anything unethical like that, they should be held accountable.

But, I don't think there's a conspiracy for banks fabricating documents to take over homes of mortgage paying families.

[haltz]

But, I don't think there's a conspiracy for banks fabricating documents to take over homes of mortgage paying families.

I don't see why not. There was a conspiracy to put them in that position in the first place.

[AWvsCBsteeeerike3]

But, I don't think there's a conspiracy for banks fabricating documents to take over homes of mortgage paying families.

I don't see why not. There was a conspiracy to put them in that position in the first place.

Subprime lending?

[haltz]

Right, what I mean is that I agree with your premise that it doesn't make sense on its face, but neither does lending money to people who can't pay it back. But someone is making a killing.