Wells Fargo Agrees to Pay $2.09 Billion Penalty for Allegedly Misrepresenting Quality of Loans Used in Residential Mortgage-Backed Securities

Livinglies's Weblog

08/01/2018 12:00 AM EDT
The only thing I would add to what Dan Edstrom says below is that the courts are still treating WFB as a credible source and applying legal presumptions to its fabricated documents. This enables WFB and the other banks that committed the same atrocities to “skip” actual proof of an unprovable case. WFB has admitted to lying, cheating and outright fraud on a system wide basis. Why would you “trust” any company with that track record and give them the benefit of the doubt (a legal presumption) on paper isntruments that are challenged by a homeowner?
From Dan Edstrom:
Fraud, falsification, mail fraud, wire fraud, financial services fraud, financial institution fraud, violations of SOX requirements, violating the requirements for complying with SOX and providing false or misleading…

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