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The White Collar Crime of the Century; Wells Fargo Fraud Exposed! Don't Let Your Life Savings Be Pulled From Under You!

Updated on April 12, 2017

"The Big Bad Wolf (Wells Fargo Bank)"!

The White Collar Crime of the Century

“The White Collar Crime of the Century” (Still At Work!!!)

Yes it’s true, the white collar crime of the century. Millions of victims, millions of dollars taken, thousands of homes snatched with no end in sight! How can this still be going on? Big Company Money, trumps the “little man”, to fight it, is a waste of your hard earned money, your precious time and your physical & mental energy. Who’s getting away with just a slap on the wrist? Our most trusted commodity, our “BANKS” in particular, the biggest of them all “Wells Fargo Home Mortgage”, that’s right, the “Big Bad Wolf”, ready to blow you right out of your home, for their own selfish gains! If this is alarming to you, think of the poor souls, who have a mortgage with them, just trying, to “Pay In”(slogan from Quicken Loans) to the American Dream, only to have their hopes, dreams, credit and lives shattered by this bank, need confirmation, okay;

Wells Fargo pays $185Million in Fines ( CNN Money by Heather Kelly September 16, 2016), Related: 5,300 Wells Fargo employees fired over 2 million phony accounts; The first lawsuit has been filed against Wells Fargo by customers following revelations that bank collected fees for millions of unauthorized accounts!

Wells Fargo pays $70Millionfor Failure in foreclosure accord (Bloomberg News 5/25/16), for mishandling loan papers and fraudulently endorsing legal papers used in foreclosures, paid to the Federal Housing Administration (left customers homeless).

Wells Fargo agrees to pay $1.2 Billion dollars for Improper Mortgage Lending Practices (Justice News 4/08/16) It was admitted by Wells Fargo, that loans, that were eligible for FHA Mortgage Insurance, weren’t really eligible and they also failed, to disclose thousands of Faulty Mortgage Loans to HUD (thousands go homeless).

Wells Fargo to pay, $8.5 million to several states and counties (The News Commenter 03/29/16) for, charges that they violated customer privacy, due to not disclosing in a timely fashion, that they were recording calls (sadly thousands still without a home).

Wells Fargo agreed to pay millions, in class action lawsuit (Class Action Reporter), that claimed Wells Fargo, exaggerated fees to home owners by charging home inspections fees too frequently, when homeowners were delinquent with their payments (customers lose homes).

Wells Fargo agrees to pay $175 Million dollars for discrimination (The Huffington Post 8/1/16), as a result of allegations, that they discriminated against Black and Hispanic mortgage applicants (thousands still without homes).

Wells Fargo agrees to pay $940,000, for deceptive marketing (The Huffington Post 1/05/12) for misleading borrowers, about their adjustable rate mortgage and that their payment could not fully cover the minimum payment (customers go homeless).

Wells Fargo fined $81.6 Million, for violating federal bankruptcy rules (HOUSINGWIRE 11/05/15) for failing to notify bankrupt homeowners of increased mortgage payments (thousands forced out of their homes).

Wells Fargo hit with $1 Billion dollar suit over HAMP Fraud (LAW 360 7/08/14) over allegations that the bank falsely certified, that they were in full compliance with relevant laws, in a Home Affordable Modification Program (HAMP) servicer agreement. Now, I find this most disturbing and upsetting, because in case you didn’t know, HAMP was initiated by President Obama, funded by the “Bailout” of banks and paid for by taxpayers, many, who had home loans with Wells Fargo. Wells Fargo was paid up to $222 Million in HAMP incentives (money paid by the government to assist homeowners with modifications), to take over the servicing agreements, of loans funded by Fannie Mae and Freddie Mac. Only to turn around and charge, struggling homeowners, service, inspection and bank fees through their trial period plan (TPP), before servicing their principle balances, which lead to insufficient funds and causing homeowners to become delinquent, go in default and eventually losing their home in foreclosure, the irony, is that Americans, are still paying on taxes, that allow this bank, to foreclose on other poor souls. How is this legal and considered the American dream, our banks, were designed and created to” help” our fellow Americans not “hurt” and lead them to homelessness, who will fight for the “little man”?

There are many more complaints, law suits, penalties and fines to fill a room, however the fact remains the same, Wells Fargo has a disregard for their client, a surplus of money, to “pay off” every fine, penalty and law suit, in exchange, they can continue to service mortgage loans carelessly, resulting in, hundreds of thousands of Americans tossed continually from their homes, I know this from experience because, I was one of those poor souls. If someone told me 20 years ago, that someone took, over $3 Billion Dollars from Millions of Americans, with no jail time, I would say “It must be organized crime”!

Is this, the new “MAFIA” (Mortgage Agencies Foreclosing Illegally on Americans)? Leaving many hard working Americans, shaking in their shoes with having to pay, whatever fee, penalty and overage amount above their original agreement, or else!! This is damaging to many, however none more, than to our children, how do we regain their trust, in the American Dream, when they’ve been exposed and witness to, “Fraud” to their parents! Our children are our future, let’s protect them!

If you understand this testament, to be true, please continue the conversation with others, by telling your story and then maybe together, we can be heard by our Congressman, Senator, Governor or maybe Obama himself. We deserve a voice, because we are “America”!

There is SETTLEMENT MONEY to be awarded, call Wells Fargo now, to see if you are part of the "Class" and are entitled to unclaimed money.

By Hilario James Jr.

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© 2016 Hilario James

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    • kisarey profile image

      Hilario James 17 months ago from ROYAL PALM BEACH

      This bank pretended to help me, then took the rug from under me, literally! They've got to be accountable for the mistreatment of their own customers!