Thursday, April 19, 2012
Every foreclosure should be challenged
If your state allows any judicial review, because the likelihood of major errors on the part of the lender put the odds very much in the homeowners favor. MSNBC has the details in an extensive article on the continuing foreclosure fraud across the country.
Michael DeVito, executive vice president of Wells Fargo’s Home Mortgage Default Servicing, says the bank's processes are built to catch errors: “It’s got redundant checks in it to ensure that the documents going out the door are accurate. And the process is built to help the team member build the personal knowledge they need to sign effectively."Making the numbers precludes accuracy in most, if not all cases. The Great Mortgage Settlement was supposed to stop this, but all it did was stop the investigations.
“No one here is asked to sign anything they don’t understand. Period. End of Story," DeVito said. "There’s no production quota and if a team member says, ‘I don’t understand this I’m not going to sign it,’ that’s fine.”
But people who work at Wells Fargo’s office at 401 South Tryon Street in Charlotte said some managers are pushing loan processors to fill workload quotas that don’t allow enough time to thoroughly review documents.
“They’re pushed to do numbers," said a manager at the office who wished not to be named, referring to a department different from her own.
“My department is much more lax,” she said, “but (in that team) they’re pushing: ‘Get ‘em out, get ‘em out, get ‘em out, get em out.’”
This pressure to produce is spelled out in company e-mails to loan processors that were obtained by msnbc.com.
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