Wells Fargo Caught Forging Mortage Documents — Will We Finally See Jail Time for the Bankers?

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http://www.alternet.org/news-amp-politics/wells-fargo-caught-forging-mortage-documents-will-we-finally-see-jail-time-bankers




A new internal report says the Justice Department massively overstated its successes in targeting mortgage fraud while in fact ranking it as a low priority for investigation. The Justice Department’s inspector general says despite playing a central role in the nation’s financial crisis, mortgage fraud was deemed either a low priority or not a priority at all. This comes as a recently revealed internal Wells Fargo document appears to guide lawyers step by step on how to fabricate missing documents to foreclose on homeowners. Wells Fargo is the country’s largest mortgage servicer and services some nine million home loans.

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Amy Goodman: State and federal regulators are now focusing on the allegations in the lawsuit brought by Linda Tirelli, who joins us now. She’s an attorney representing clients being foreclosed on by Wells Fargo. Earlier this month, she discovered the Wells Fargo manual on how to produce missing documents to foreclose on homeowners. She’s a partner at the Garvey, Tirelli & Cushner law firm in White Plains, New York.

In Minneapolis, we’re joined by Kevin Whelan, campaign director for the Home Defenders League, a national movement of underwater homeowners and allies who organize to keep people in their homes and demand accountability.

Wells Fargo declined Democracy Now!'s interview request, saying they're in a, quote, "quiet period" pending the announcement of their quarterly earnings.

We welcome you both to Democracy Now! Linda Tirelli, let’s begin with you.

Linda Tirelli: Good morning.

AG: Can you describe this manual, how you got it and what it reveals?

LT: Absolutely. The manual that I have, it’s actually entitled the "Wells Fargo Home Mortgage Foreclosure Attorney [Procedure] Manual, Version 1." And it says on it that it’s last published 2/24/2012. Mind you, the national mortgage settlement agreement was announced a week prior, on 2/19/2012.

The way I obtained it, it was actually sitting right there on the Internet, of all things. A colleague of mine, through a Max Gardner’s Bankruptcy Boot Camp, which I am a member, an active member, gave it to me and said, "Hey, I found this online, and I know you’re doing a lot of Wells Fargo cases. Maybe you can use this."

[DiverDave]

1. Low level drones go to prison, not

the criminals that ordered it.
because, money.

[TheKentuckian]

19. This is the second highest probability, inched out by a hair by nothing.

[Kablooie]

2. Obviously the bankers that followed the manual will go to jail.

The bankers that wrote the manual will remain free to write another version.

[KG]

3. not as long as Eric Holder is AG.

[ReRe]

4. This reeks of...

... serious conflict of interest.

[FailureToCommunicate]

5. Mommy, what's a "mortgage"?

Wells Fargo sucks. And so does the Justice Department, for not making mortgage fraud a priority.

[BuelahWitch]

13. Now, you know those homeowners held a gun to the poor banker's heads

and just *forced* them to forge that paperwork!

[marmar]

6. Sadly, no.

K&R

[Trust Buster]

7. The Right wing mentality does not help....

.....talk to your average Right wing parrot today and they still insist that it wasn't the banks fault. It was the gubment that forced the banks to give loans to black people via the Community Reinvestment Act. Who knows, had all those Right wing morons directed their anger in the right direction, the political will to criminally prosecute the banksters may have materialized.

[DeSwiss]

8. Rhetorical Question O' The Day: ''Will We Finally See Jail Time for the Bankers?''

- Rhetorical Answer O' The Day: Have Banks Run Out Of Political Bribe Campaign Money?

K&R

[KoKo]

16. yep ...what yousay and graphic.......

Nothing will be done. And so we "who care" will beat our brains out waiting for this Criminality to be brought to justice...until our BRAINS FALL OUT OF OUR HEAD.

Eric (Placecard) Holder will not do an "inch" for us.

He's there for a REASON...and it isn't about PROTECTING AMERICAN CITIZENS...or UPHOLDING US JUSTICE SYSTEM! sadly...........

[Enthusiast]

9. It's not fraud if the Banksters® do it.

New standards for justice.

No justice for the regular people, no accountability for mega-thieves like war profiteers and financial thieves.

Way to go, Holder! You're doing a heck of a job, Eric.

[Javaman]

10. I will now commence with the holding of the breath. nt

[BuelahWitch]

11. No, they'll contribute $$$$$$$ to someone's campaign and the get off easy n/t

[hobbit709]

12. Don't hold your breath. Probably get a government position.

[dixiegrrrrl]

14. Here is link to safe PDF download of the manual

http://stopforeclosurefraud.com/wp-content/uploads/2014/03/foreclosure_attorney_procedure_manual-1.pdf

I got a copy and read it last week when I posted about it.

[KoKo]

17. Hey...you did some good work on this issue...so you would know!

and...how much more Criminal Against the People can these Bankster's GET?

But they (so far) seem to have gotten away with it.........

[dixiegrrrrl]

20. Anyone who is paying a mortgage needs to know what is going on

cause there are too many cases of having the houses stolen out from under them.

And NOW...banks have sold off all those foreclosed houses to large groups flush with free Fed money, who are renting them out,
AND
they are turning the rent into securitized bonds.
Thus getting paid AGAIN for illegal foreclosures.

AAIIIEEEE!!!

[MannyGoldstein]

15. Look to the future, not the past

A future where Elizabeth Warren is President, and bankers who break laws do hard time.

[KoKo]

18. I love her....!

and she is the kind of President we would hope to have. But, I still want her in the SENATE..and would hate to lose her there.

But...given the lack of ANYONE BUT HILLARY ........she should go for it! As you can see by my Graphic. But...we need her so much in the SENATE ...for now.

But if her hat goes in the ring.....you know where I stand!

[progressoid]

21. Will We Finally See Jail Time for the Bankers?