After refinancing my home, the bank that handled the transaction sold my mortgage to Wells Fargo. No big deal. Loans are sold all the time.
However, I’m now discovering that Wells Fargo isn’t the kind of company I’d like to see profiting from my debt.
The five separate investigations were conducted by the Department of Housing and Urban Development’s inspector general and examined Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial, the sources said.
The audits conclude that the banks effectively cheated taxpayers by presenting the Federal Housing Administration with false claims: They filed for federal reimbursement on foreclosed homes that sold for less than the outstanding loan balance using defective and faulty documents.
According to the sources, the Wells Fargo investigation concludes that senior managers at the firm, the fourth-largest American bank by assets, broke civil laws. HUD’s inspector general interviewed a pair of South Carolina public notaries who improperly signed off on foreclosure filings for Wells, the sources said.
This is kind of a big deal. In fact, the companies involved in this fraud offered to pay $5 billion (with a “b”) to settle this (without admitting any wrongdoing, of course). The government responded by stating that that’s WAY too low a figure, and that $30 billion (with a “b”) is a more reasonable figure to make up for the pain they’ve caused American taxpayers. $30 billion in fraud is the like stealing $100 from every single American.
So, I’m looking for advice on how I may be able to convince Wells Fargo to sell my mortgage to a more reputable lending institution. Any ideas on how I can convince them to get rid of me would be greatly appreciated.
PS: I believe I was told (and even signed off) at my closing that Wells Fargo would be buying my mortgage. That was before I realized that this company was ripping off taxpayers. Turning back time is tough without a DeLorean.