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Loan Modification

: Mortgage Lender Implode-o-Meter

Ohio AG Cordray Reacts to Wells Fargo's Plan to Refile Affidavits in 55,000 Foreclosures

By Implode-Explode Heavy Industries

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"The big mortgage servicers and financial firms continue to demonstrate their belief that they do not need to play by the same rules as everyone else who uses our court system. The suggestion by Wells Fargo and its colleagues at several other national firms that they can cure fraudulent testimony by simply refiling new affidavits and continuing to proceed toward foreclosures shows they do not recognize the seriousness of the problem they have created. There is no simple 'do-over' for false testimony that will be likely to avoid sanctions and penalties imposed by the courts. Their brazen efforts to minimize their financial exposure by sweeping these problems under the rug are an insult to the justice system in this country. These disclosures by Wells Fargo will now become the focus for a new prong of our on-going investigation."

Full post as published by Mortgage Lender Implode-o-Meter on October 29, 2010 (boomark / email).

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