Hmmm... 'Wells Fargo (NYSE:WFC) Says No to Foreclosure Moratorium - All247News

[WillyT]

Wells Fargo (NYSE:WFC) Says No to Foreclosure Moratorium
October 10th, 2010.
Carlo Gabriel Simbajon.

<snip>

Hammond insisted that Wells Fargo will not “initiate a moratorium on foreclosures.” Hammond was quoted by the San Francisco Business Times as saying that the company’s mortgage foreclosure procedures “are accurate.” Hammond said “we continually review and reinforce our policies and procedures. If we find an error or if an improvement is needed, we take action.”

...

Despite these assurances, North Carolina Attorney General Roy Cooper asked Wells Fargo and other major lenders to adopt a foreclosure moratorium in his state. Earlier, similar calls for a nationwide suspension were made by Senate Majority Leader Harry Reid and Rep. Edolphus Towns, head of the House Committee on Oversight and Government Reform. For her part, House Speaker Nancy Peloci called for a federal investigation.

The foreclosure fraud scandal started when the issue of “robo-signers” emerged in several court cases involving homeowners and the banks. “Robo-signers” are bank workers or contractors who rubber-stamped foreclosure papers without checking or verifying them. It is believed that this practice led thousands of homeowners to be wrongly evicted from their homes.

<snip>

More: http://all247news.com/wells-fargo-nyse-wfc-says-no-to-foreclosure-moratorium/6444/

:shrug:

[MineralMan]

1. You've posted almost the entire article here. That's not an

excerpt.

From the link:

"© 2010 All247News. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use."

Fair use is one thing. Posting the majority of an article is another.

[WillyT]

2. Thanks Net Nanny !!!

You are my hero.

:hi:

[MineralMan]

3. I like DU. I'd like to see it stay around.

There are rules. There are reasons for those rules. There's even a lawsuit against DU going on right now, based on copyright issues.

It's not your website. It's not your call.

Thanks for properly shortening your excerpt.

[WillyT]

4. Thank You Junior Mod !!!

Your "Total DU Awareness" monitoring is truly... reassuring.

BTW - When you post 4 paragraph snips of a 5 or 7 paragraph piece, it tends to look bigger than an excerpt. Try posting 4 paragraphs of a three paragraph piece... truly challenging.

:shrug:

When do you get your full Mod wings???

[MineralMan]

5. And, yet, you shortened the excerpt, for which I thanked you.

I'm not a moderator here, nor would I ever apply for that position. Your snark is misplaced, I'm afraid.

I pointed out a problem. You fixed it. Thank you.

[EFerrari]

6. We're watching Chase right now. They were taking over WaMu

just when the manure was hitting the rotating member. One of my family members was negotiating a loan mod with them right up to the day his property was sold at auction. It was the dirtiest thing I've ever seen. For months, no, you can't talk to him, you can't talk to him, you can't talk to him, good-bye!

I haven't heard much about Wells Fargo.

[customerserviceguy]

7. I'm sure all the big lenders

have reviewed their foreclosure processes, it's not unbelievable to me that at least one of them finds that they've been doing them correctly.

The faster we get through the foreclosure backlog, the faster we get to the bottom of the housing market, and the sooner we get a genuine economic recovery. Anything that slows that process down, including sloppy handling of foreclosures, simply delays the date when we get back to the days of a full recovery.

We only have about two years for that to appear to happen, if it doesn't, then any damn fool the Rethuglicans nominate (yes, even Caribou Barbie) wins the 2012 election.