patrick.net

If the allegations in Tirelli’s court filing are true, this manual represents the first time ‘ta-da’ endorsements are “being described and admitted to be a procedure” at a major bank.

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.

A Wells Fargo spokesman denied that the manual could be used to order improper documents. “No note is endorsed without the proper authority,” he said. “Wells Fargo’s foreclosure processes—today and back in 2012—are legal [and] appropriate.”

http://crooksandliars.com/2014/03/court-filing-wells-fargo-used-guide-making

Link to Wells Fargo Foreclosure Attorney Procedures Manual created 11-09-2011 updated on 02-24-2012.

http://stopforeclosurefraud.com/2014/03/12/wells-fargo-made-up-on-demand-foreclosure-papers-plan-court-filing-charges/

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