Visit my new blog… mrmortgage.ml-implode.com Wells Fargo Subprime toxic waste exposed. Do they have to raise capital? Mr Mortgage shows a 2006 Wells rate sheet. This is hard evidence of Wells doing nasty subprime loans for borrowers with scores as low as 500 and 120-day mortgage late payments, which is essentially foreclosure status. They did not sell this directly to consumers, rather used correspondents like New Century, Accredited, Countrywide etc to rebrand the programs and sell them as their own. This is a very common practice but this just proves Wells is dirtier than most. First, because not everyone did subprime. Second, because they lied of course.
LOLOLOL XDDDDDDDDDDDDDDDDD
Let this asshole analyze other banks. He knows shit about what went on during the bubble. Did Wells ever dive into option ARMS? This fuck needs to chase a parked car.
fargo made me and broke me ,,, they knew exactly what they were doing ….. 1 property became………… 6 with a business…….alot of money on paper??!!!!!!! over night!!!!!!!
…. now these are the times,,,, losing jobs no money on the street all these tenants running out of town” new york city” ???? would love to see the turn around ???? but how much am i am going to still be holding ?????what the f%&#$#%%^%&)(???????
wtf. no one bend wf arm. they took the money. brought another bank. quit reading wf email talking points. Research it
yes well fargo did take the bail out money and used it to provide consumer loans and then in less than a month paid the bail out money back. the were actually told to take the bail out money along with other bank to provide stimulus because many banks needed it. Further more wells fargo is not a discriminating bank and to even think that is obsurd. you people really need to check your sources of information !
Wells Fargo invested in skid row properties made no improvements then used bailout money
I believe Ms. Natasha Sears and Eileen Sotak should be required to execute affidavits regarding their findings.
I believe that LA Superior Court was negligent and violated my right to privacy and confidentiality and knowingly allowed Tami Ohana and Edith Stern to continue with the racism that was common over the years.
It is common and acceptable for Wells Fargo to discriminate and ignore the rights, privileges and entitlements afforded to minorities.
My civil rights were violated by Wells Fargo Home Mortgage, I told Natasha Sears and Eileen Sotak at EEOC. They were kind enough to spend two years investigating my complaint; they found reasonable cause to believe my claims, ruled in my favor and issued a final determination.
During that investigation multiple civil rights violations were observed and noted by EEOC.
I’ve got a combined total of $140k in BofA and Citi… today, Sunday, Aug 23, 2009!
This coming week I’m going to move this cash out of those two businesses, and place $100k in Wells, $20k in Banco Santander, and $20k into something ‘offshore’ (SwissFrancs, RMB, or gold… not sure yet)
Wells looks fine to me.
Read your contracts, don’t spend what you don’t have/can’t afford. Live below your means…
or, don’t.
Oh sure it’s not my fault I signed the contract it must be Wells Fargo. “mr. mortgage,” it’s rants like this that allow people to feel walking away from their homes is justified. Sure pass all blame you like, it’s capitalisms fault, not Wells Fargo’s
Casting call I have a movie in the making trust me its toxic waste on their books
Wells Fargo Fraud I know how they work
I am a former supervisor
who worked at the sweatshop
in Schaumburg, IL
I know all about the fraud and
predatory lending practices
I filed a lawsuit
Disability Discrimination
Failure to accommodate
multiple civil rights violations.
They kicked me to curb
and refused to honor my
request for COBRA
I Don Darryl
Chicago
At all relevant times they either knew or they reasonably
should have known, that the acts, actions and failure to
act of its managers, supervisors and agents would and
did proximity result in mental physical and emotional
injury to me including pain suffering and depression and mental anguish.
I. Don Darryl
310-922-9740
Team Lead Mortgage Loan Operations
Schaumburg, IL
i love wells fargo
Wells Fargo is a corrupt corporation preying on the American Public.
Don’t Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk
thehelpfund.blogspot
Very informative video. I took some notes on the video and how it was done. I gave it 5 stars. Check out our vids and tell me what you think? We have some good stuff also.
interesting how wells fargo doesnt seem to be hurting right now like every other bank. Interesting how Warren Buffet owns more than 10% of Wells Fargo. Good call
Absolutely shocking Wells Fargo has been cooking the books and denying vigorously that they don’t have a lot of subprime when it fact they have one of the most of any bank in the world. Why would a company “BEG” for $25 billion in corporate welfare bailout money, which they received, if they didn’t have any mortgage losses? The management at WF needs to be in prison for lying even worse than ENRON.
You are crazy, Would that be possible they sell off most of the Toxic Waste before all this happen????
You are crazy, Would that be possible they sell off most of the Toxic Waste before all this happen????
Get your facts straight and learn how to read the pricing sheet. I was a subprime HMC for Wells using the exact sheet you demonstrated. Wells did do 80/20 or 100% cltv loans in which they brokered out the 2nd to another company down to a 580 credit score, not a 500. The sheet you hold up even shows that. The second everyone titghtened up lending in 07, Wells did the same. Wells subprime portfolio truly was much cleaner than everyone else in the market with centralized underwriting…
My friend has to work directly with Wells Fargo …they use “temps” for some of their HUD approvals