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Wells Fargo: Show Me the Commitment!

QUOTE FROM A WELLS FARGO REPRESENTATIVE REGARDING THE PROTEST ACTION OF MAY 1ST:

“We understand they have a right to protest and we also hope that they understand that our customers have a right to come into our branch to do business. We are hoping that they respect the right of our customers to come in and do that. Wells Fargo is committed to keeping borrowers in their homes. We work toward that end with borrowers every day, since 2009 we’ve been able to save numerous amount of borrowers, in fact we have written 841,000 modifications. And we have provided 6.3 billion dollars to lower principle amounts, that’s with a “B”, billion dollars of principle forgiveness.”

Video: http://www.tout.com/m/qpeh43?ref=fbzcbj2l

Words adapted from the movie: My Fair Lady – “Show me” by Alan Jay Lerner and Frederick Loewe

SHOW ME! 

Words!
Words! Words! I'm so sick of words!
I get words all day through;
First from them, now from you! Is that all you blighters can do?
Don't talk of mods, reductions in price; If you do right,
Show me! Tell me no dreams
Filled with more lies. Lowered principle price,
Show me! Here we are together, in the middle of this blight!
You behind the line! Telling us lies!
Everyone who’s been in a liar loan will tell you that
This is no time for a chat!
Haven't your lips
Longed for the truth? Don't say how much,
Show me! Show me! Don't talk of all the good you have done.
Make me no undying vow. Show me NOW!

Like the song says – show us. Words are easy and we have had many years of words. Words are easy to say and statistics are easy to make up. 90% of the population knows that! (see what I mean?).

So where is that 6.3 billion dollars committed to lower principles? Someone ought to tell Eric Schneiderman, because he is planning on going after Wells Fargo and Bank of America for violations of the 25 billion dollar national mortgage settlement deal.1

Perhaps Wells Fargo’s representative was referring to the 175 million paid out for predatory lending allegations.2 Or maybe the principle reductions he was referring to have something to do with the bias lawsuit Wells Fargo settled for $425,000,000, in Memphis and surrounding Shelby Country, TN.3

In a recent article, Whistleblower: Wells Fargo fabricated mortgage documents on a mass basis, It is cited that:

“Over the last two and a half years, Wells Fargo, like most of the major mortgage servicers, claimed that it had a “rigorous system” to insure that mortgage documents were accurate and complete. The reason this mattered was that there was significant evidence to the contrary. Foreclosure defense attorneys found repeatedly that, for securitized mortgages, the servicer or foreclosure mill attorney would present documents to the court that failed to show the borrower’s note (a promissory note) had been transferred properly to the trust. This mattered not only on a borrower level, but indicated that originators of the mortgage securitizations hadn’t bothered transferring the notes properly to the trusts that were to hold them. This raised the ugly specter of what was called “securitization fail,” that investors had been sold securities that they had been told were mortgage backed when they might in practice not be.” Read more at http://www.nakedcapitalism.com/2013/03/whistleblower-wells-fargo-fabricated-mortgage-documents-on-a-mass-basis.html#6jG8bmxXS2lCm8KF.99

These fabricated documents were not fabricated so that Wells Fargo could write modifications, these documents were fabricated so that Wells Fargo could foreclosure on the homes of families.

Wells Fargo was singled out because the bank is "responsible for handling more delinquent loans than any other servicer."4

If Larry Delassus heart hadn’t stopped while sitting in a court room fighting for the home that Wells Fargo had foreclosed upon, we could have asked him about how willing Wells Fargo was to work with borrowers.

“Delassus and his attorney did not discover until May 2010 that a mis-entered number had dragged Delassus into this spiral. As court documents obtained by L.A. Weekly show, after admitting its error, Wells Fargo foreclosed on Delassus anyway and sold his condo.5

According to the Consumer Financial Protection Bureau, Wells Fargo was #2 of the most complained about lenders. Bank of America still first, (because they took over Countrywide (Who can do what no one else can) Home loans) holding place at #1.6

Ask Harolyn Rhue, a disabled woman who has lived in her home for over 9-years about how hard Wells Fargo is working to keep her in her home. She had $175,000 in equity. Wells Fargo put her through the duo tracking modification scam and brought her out the other side to foreclosure. While she is still currently in her home, and the Independent Foreclosure Review Committee has sent her a check for $2000 for wrongful foreclosure, Wells Fargo still refuses to do anything that will help her stay in her home. Where is the principle forgiveness for Ms. Rhue? Where is the “every effort to help her stay in her home?

Can we forget about the Rosseau’s? A couple who paid their mortgage with a cashier’s check that was lost by Wells Fargo Bank. Wells Fargo foreclosed, the couple offered to pay the penalties and charges (even though it was not their error). Wells Fargo foreclosed anyway. The husband committed suicide. The suicide is technically not Wells Fargo’s fault…but the foreclosure leading up to it…is.7

Then later, we have the eviction of a terminally ill woman, Niko Black, who, on the morning of October 10th, had her door kicked open by the Orange County Sheriff’s Department at the request of Wells Fargo in spite of a Federal Court Order forbidding such action.

Ms. Black had to drag herself to her wheel chair and the sheriff’s wheeled her out onto the sidewalk, not even allowing her to go back in and get her much needed medication.

Fraudulent paperwork was used to foreclose on her home. She did not even have a mortgage with Wells Fargo!

Then there is Richard Castaldo, a young man who fought for his life 13 years ago at Columbine High School. Occupy Fight Foreclosure reached out to the CEO of Wells Fargo to negotiate a way to save Richard’s home. The office of the CEO told them that they would try to work something out, the next day they sold Richard’s condo to an investor.

Wait…let’s do just one more…from May of last year – Patricia Martin, a 73 year old widow, remember her, Wells Fargo? You foreclosed on her home of 43 years because of a late charge of $104.23. Wells Fargo spent well over $50,000 booting her out of her home, when she wasn’t even late on her payment and didn’t even ask for a modification.8

Now what was it the Wells Fargo representative said again, “Wells Fargo is committed to keeping borrowers in their homes.”

So, we’re thinking, Wells Fargo has another opportunity to give life to their words, and work with Harolyn Rhue. Harolyn Rhue, a handicap woman who has been taken advantage of due to an injury to her brain several years ago. She believed she was signing for a 30-year fixed rate, but was given a teaser rate instead. Nevertheless, she did her best to make payments on time, until she sought out a modification. On the advice of Wells Fargo, she withheld payment while she awaited her modification. (Does this story sound familiar yet?)

NACA has already worked out a program that would keep Harolyn Rhue in her home, but Wells Fargo refuses to budge. So our question is…Is Wells Fargo really committed to keeping borrowers in their home?

Then……“Don't talk of all the good you have done.
Make us no undying vow.
SHOW US NOW!”

The most elementary conceptions of justice and public policy require that the wrongdoer shall bear the risk of the uncertainty which his own wrong has created”. See, Bigelow v. RKO Radio Pictures, Inc., 327 US 251 - Supreme Court (1946), See Package Closure Corp. v. Sealright Co., 141 F.2d 972, 979. That principle is an ancient one, Armory v. Delamirie, 1 Strange 505

Contact: Carlos Marroquin 323-592-4663


List of Citation:

^1 http://www.forbes.com/sites/halahtouryalai/2013/05/06/25-billion-later-bank-of-america-wells-fargo-still-face-mortgage-trouble-from-ny-ag/

^2 http://www.usnews.com/news/blogs/home-front/2012/07/13/in-financial-tragedy-wells-fargo-to-pay-175m-over-predatory-lending-allegations

^3 http://money.cnn.com/2012/05/30/news/companies/wells-fargo-memphis/index.htm

^4 http://www.scpr.org/blogs/economy/2013/03/13/12908/housing-advocates-accuse-well-fargo-damaging-commu/

^5 http://www.laweekly.com/2013-03-07/news/wells-fargo-typo-victim-dead-larry-delassus/

^6 http://www.investinganswers.com/investment-ideas/real-estate-investing/5-most-complained-about-mortgage-companies

^7 http://mandelman.ml-implode.com/2012/05/husbands-suicide-yesterday-wells-fargo-to-evict-wife-tomorrow-anyway/

^8 http://mandelman.ml-implode.com/2012/05/doer-update-patricia-martin-v-wells-fargo-court-grants-injunction-injustice-on-trial-ahead/


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ALERT: Come Amend LA Foreclosure Ordinance On Wed

ACTION ALERT: This Wednesday, amendments to LA's Foreclosure Registry Ordinance to improve enforcement and make banks pay up will be introduced to the the LA City Housing and Community Economic Development Committee. Come and speak out in favor for tougher penalties to deal with foreclosures and blight in our city.

Join us: Wed, May 15: 8:30 am, Rm 1010, City Hall, HCED committee.

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OFF Joins May 20 Action in D.C.

May20DCactionNotice_thumb.jpgOccupy Fights Foreclosures, Occupy Our Homes, Home Defenders League, and many more home defense groups will be bringing JUSTICE TO JUSTICE by joining hundreds of homeowners from around the country in Washington D.C. to demand Wall Street be held accountable and that we start seeing real relief for homeowners!

May 20th, 2013 at Freedom Plaza, Washington D.C. [map below]

Event Page: https://www.facebook.com/events/145304668982688/

 

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May Day 2013

On Wednesday, Occupy Fights Foreclosures joined May Day and protested endless fraudulent foreclosures by the top predatory lender, Wells Fargo at one of its branches at Olympic Boulevard and Figueroa Street in Los Angeles downtown. May 1st is the internationally-recognized workers' day when workers around the world stand up and unite for their rights. Here are live recordings, photos, and press coverage links.

Live Recordings

Climax of Our Action!

by PMBeers

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[Press Release] On May Day Occupy to Stand up for Working Families, Immigrants, Seniors and Disabled

PRESS RELEASE
IMMEDIATE RELEASE

OCCUPY MOVES TO SHUT DOWN WELLS FARGO BRANCH IN PROTEST OF WELLS FARGO ABUSES AGAINST WORKING FAMILIES, IMMIGRANTS, SENIORS AND DISABLED HOMEOWNERS

WHO: Occupy Fights Foreclosures, concerned community members, economic justice activists, and homeowners.
WHAT: Occupy Fights Foreclosures will be shutting down a Wells Fargo branch in the Los Angeles area in protest of Wells Fargo abuses against working families, immigrants and homeowners with disabilities.
WHEN: Wednesday, May 1st, 2013 at 3PM-4PM
WHERE: Wells Fargo Bank, 717 Olympic Blvd. Los Angeles, CA

LOS ANGELES, CA - Occupy Fights Foreclosures will be shutting down a Wells Fargo branch in response to Wells Fargo's abusive measures taken against immigrant workers and homeowners with disabilities. Not only has Wells Fargo reigned in being the bank with the most foreclosures nationwide, but it also is evicting and throwing into the streets the most vulnerable people in society.

Occupy Fights Foreclosures will be shutting down Wells Fargo bank to bring forth the struggle that immigrant workers face when seeking housing. Immigrant homeowners are taken advantage of due to language barriers and are usually the victims of predatory lending, a fraudulent practice Wells Fargo is known for.

Occupy Fights Foreclosures activists are committed to holding Wells Fargo accountable for it's criminal actions against homeowners who remained loyal to their mortgage payments, but were taken advantage of due to their inabilities.

"We have seen first hand how Wells Fargo Bank has taken advantage of immigrants, we have seen them throw people out into the streets, and we have seen those immigrant homeowners resisting eviction and being deported because they have resisted." said Carlos Marroquin, a homeowner advocate with Occupy Fights Foreclosures.

Following their bank shut down of Wells Fargo, Occupy Fights Foreclosures will be joining the Southern California Immigration Coalition to march for full Immigrants rights.

####

Contact: Carlos Marroquin, (323) 592-4663


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Harolyn's Home Occupied

Foreclosure fighters occupied Harolyn's Home in Altadena according to plan from 5pm on Sunday evening of April 14th 2013. Here are some footage from our occupation launch and more to be added here soon.

At Harolyn's home, 267 Laurel Dr. Altadena, CA 91001, occupiers held press conference to expose infamous Wells Fargo's fraud scheme.

Occupy Harolyn's at 267 Laurel Dr. Altadena, CA 91001 to defend against Wells Fargo's fraud scheme.

RADIO featuring Harolyn's case:
Fighting 2 Battles - The Time is Running Out For Harolyn

Location: 267 Laurel Dr. Altadena, CA 91001

Occupy Harolyn's Home Notice:
http://www.occupyfightsforeclosures.org/occupy_harolyn_s_home

Learn more and stay updated at Save Harolyn's Home on Facebook
https://www.facebook.com/pages/Save-Harolyns-Home/476617869058894


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BREAKING NEWS: OFF to Defend Home This Sunday

sign-save-harolyns-home.jpg*Update: Popstponed until this Sunday April 14th, 2013

Occupy Fights Foreclosures to occupy and defend Ms. Harolyn Rhue's home from pending eviction. Ms. Harolyn Rhue's is a disabled woman who survived a traffic accident when a drunk driver run a red light. She managed to pick herself up, went to school and got a Masters degree. After much sacrifices, she bought a home, worked for a bank, and designed clothing for disabled people.

nfortunately, she was taken advantage of her disabilities and was given a predatory loan. Wells Fargo has refused to work with her after her payments kept going up.

Ms. Rhue always did the right thing and paid her mortgage on time. When the payments got higher, she notified Wells Fargo and asked over 10 times for a loan modification.

In august of last year while awaiting for a review of her loan modification, Wells Fargo sold her home behind her back to an investor and now she is facing eviction.

Wells Fargo refuses to take responsibility for what they did to Ms. Rhue. She now has turned to Occupy Fights Foreclosures to help her fight Wells Fargo’s wrongful foreclosure and pending eviction.

This Friday at 5 p.m., Occupy Fights Foreclosures activists, community groups, church members from different religious groups and concerned citizens will join in the fight and mobilize to defend her home.

The occupation of Ms. Harolyn Rhue’s home will serve as the kick-off campaign against Wells Fargo. Groups around the nation are offering their support and will join us in organizing national actions that will remind Wells Fargo that they need to stop hurting hard-working American people.

Harolyn’s story is a mirror of countless other homeowners that have been victimized by their bank’s greedy side.

If you would like to help Harolyn's caseb please call us at (323) 592-4663

* We are having an emergency meeting on Wednesday at 7 p.m. about this action. More details will follow.


 

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Thank You for Coming to Our Benefit Show!

Thank you very much everyone who showed support for our fundraising event, "Benefit for Occupy Fights Foreclosures: The Art of Resistance" on Saturday March 30th, 2012 at the Vortex. You attended supportively, performed fiercely, donated generously, facilitated smoothly and volunteered enthusiastically. That made all possible. We cannot express enough how grateful we are to your support. All the collected generous donation will go a long way to cover our necessary expenditure for people's ongoing fight against fraudulent foreclosures!

In a mean time, please enjoy wonderful photos from the event.


by NoHoDamon


by Facebook Event wall posts

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Occupy Fights Foreclosures' Response to Wells Fargo Statement

The original Wells Fargo’s statement regarding the action by protesters during Wells Fargo CEO John Stumpf’s speech in Carlsbad, CA on March 14th, 2013:

Vickee Adams, a Wells Fargo spokesperson, wrote in an e-mailed statement to The Huffington Post that while the bank respects individuals’ rights to express their opinions, the protest was unproductive. 

“We are very disappointed in the actions protesters took at the Retail Banking Conference today that disrupted John Stumpf's presentation and the entire conference,” Adams wrote. “This type of behavior damages efforts for productive dialogue and opportunities to work together to reach solutions.”

Our response: 

We are very disappointed in the distinct lack of action bank Wells Fargo CEO John Stumpf has demonstrated to correct the injustice that has thrown millions of families from their homes. These millions of families trusted lending institutions to abide by 400 years of property law when they signed loan agreements. They did not think for a minute that they were signing up to be marks in a quadrillion dollar Ponzi scheme and insurance fraud that has overstated the value of investments to pension funds and other investors all around the world.

The trust of ordinary people was used against them to steal their life's savings and their homes. Bank employees of Wells Fargo told families to default on their mortgage payments "in order to qualify" for loan modifications, then used that default to foreclose on their homes. This dual tracking—now illegal in California—is just one of the rampant injustices that allowed Wells Fargo to reap billions in profits under Stumpf's watch.

Fraud is a business model of Wells Fargo and the other too-big-to-jail banks, yet they have so far managed to bully and buy their way out of prison. On top of the secret settlements made by the FDIC to hide bank wrongdoing, Senator Elizabeth Warren's now famous pointed question to the OCC, the SEC and other bank regulators, "When was the last time you took any financial institution to trial?" shows that our government is not even willing to take these oversized financial behemoths to face a jury or judge.

We are certain that Senator Warren would agree, we all know the only ones breaking any laws here are the banks, and we don't see any police breaking down the CEOs doors in the middle of the night. On the contrary, John Stumpf has pocketed the fattest paycheck of any bank CEO—racking up $22.9 million from the stolen homes of people like Betty Badro, the homeowner who confronted him. As Senator Warren says, when banks can pay measly settlements out of enormous profits, "They don't have much incentive to follow the law." Until such time that we have a government willing to take the banks to trial and put the wrongdoers in jail, bank CEOs should expect to continue to hear from the people they have defrauded.

 

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Soly Request Your Support Today

ALERT!! SOLEDAD CORONA ... REQUESTS YOUR SUPPORT!!
TODAY, SATURDAY, MAR 16...AT 11 AM, WITNESSES NEEDED!!
AS SOLY OPENS THE PUBLIC STORAGE UNITS WHERE THE BANK'S THIEVES PUT HER BELONGINGS... 4002 N MISSION ROAD, LINCOLN HEIGHTS. (CROSS STREET IS N BROADWAY). SHE WILL ALSO NEED ASSISTANCE MOVING HER BELONGINGS TO HER STORAGE UNITS. CALL SOLY AT 213-248-0010...
PLEASE PASS THE WORD.!!!

SOLY REQUESTS OUR SUPPORT AS WITNESSES...AND TO MAKE A STATEMENT... SOLY WILL CONTINUE THE FIGHT AGAINST BANK OF AMERICA AND THEIR LAP DOGS, THE SERVICERS, THEIR ATTNYS, ETC. HOMEOWNERS WILL NOT BE BULLIED OR FRIGHTENED INTO SUBMISSION OR SILENCE!!

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Why stay home when you can save a home?
Occupy Fights Foreclosures, affiliated with OccupyLA, stands up against the nationwide foreclosure crisis. We support, educate and empower homeowners at risk to save their homes from fraudulent foreclosure.