Suit Alleges Wells Fargo Gave Employees A “How To” Manual On How To Commit Fraud
The manual is a “How To” book created by Wells Fargo on how to fabricate documents. It also details how Wells Fargo gets away with committing foreclosure fraud. Wells Fargo denied these claims. They told the New York Post:
No note is endorsed without the proper authority. Wells Fargo’s foreclosure processes—today and back in 2012—are legal [and] appropriate.
Attorneys have long suspected servicers were systematically creating fraudulent documents to prove ownership of mortgages and notes.
Foreclosure defense lawyers say documents with the proper endorsements appears out of thin air. It is as if they appear by magic. Mortgage notes also appear in the foreclosure mill’s possession as needed.
The manual also provides step-by-step instructions for a Wells Fargo employees and foreclosure attorneys. The manual spells out what to do if a blank endorsement is not in a file. It also gives instructions to attorneys about what to do if a note was not executed. In addition, the manual outlines steps for attorneys and the Default Docs Team to create allonges, endorsements to a note on a separate sheet of paper when there is no room left at the bottom of the note.
In addition, the manual outlines steps for attorneys and the Default Docs Team to create allonges, endorsements to a note.