According to Wells Fargo, a "computer glitch" caused the improper denial of 870 loan modification requests, which led to 545 foreclosures in which Wells Fargo customers lost their homes; the bank is now offering those former homeowners -- some of whom saw the breakup of their marriages as the result of the stress of foreclosure -- insultingly small sums, like $25,000.
America is in the grips of a foreclosure epidemic on a scale never seen in this country; Donald Trump's Secretary of the Treasury was a pioneer in dirty mass-evictions based on fraudulent documents; ironically, people who live in high-foreclosure states were more likely to vote for Trump.
Wells Fargo is America's biggest bank, and has committed a string of frauds affecting millions of Americans, leading to the collapse of small businesses, credit delinquencies, the "improper repossession" (that is, theft) of their customers' cars (including cars belonging to US military service members stationed overseas), and more.
Then in September this year, nearly three years later, he got a letter from Wells Fargo. "Dear Jose Aguilar," it read, "We made a mistake… we're sorry." It said the decision on his loan modification was based "on a faulty calculation" and his loan "should have been" approved.
"It's just like, 'Are you serious? Are you kidding me?' Like they destroyed my kids' life and my life, and now you want me to – 'We're sorry?'" Aguilar said.
Wells Fargo now said that "calculation error" on loan modifications affected 870 customers over an eight year period, customers who either were denied loan modifications or "were not offered a modification in cases where they would have otherwise qualified." About 545 of those customers ultimately lost their homes to foreclosure.
At least some of those people got a check from Wells Fargo along with the letter. In Aguilar's case, it was for $25,000. But his attorney Marc Dann said that doesn't begin to cover his total losses.
Wells Fargo computer glitch blamed as hundreds lose their homes [CBS News]
Cory published a writeup of my research showing Google offshoot Sidewalk Labs’ plan to build a surveilling city in Toronto involves a much, much larger chunk of land than publicly disclosed (in fact about 2,600 acres of prime Toronto waterfront!). It flushed out a response from the high-priced US PR firm Berlin Rosen, apparently acting […]
In 2015, a scandal involving the state-owned 1Malaysia Development Berhad fund brought down the country's authoritarian government, amid allegations that the disgraced ex-Prime Minister Najib Razak and his retinue embezzled $4.5 billion from the fund.
Charter-Spectrum has settled a lawsuit brought by the New York Attorney General that accused the company of defrauding New Yorkers through false advertising about the data-speeds they could expect from their plans (among other things, the AG accused Charter of supplying customers with modems that were too slow to attain the speeds they'd paid for).
For the newbie, Python can seem like the most intimidating programming language. After all, it can be used to create everything from simple apps to vast networks of web crawlers. But there are fundamental principles that underlie all the uses of this versatile platform, and you can absorb them all with the Python Master Class […]
Building a website on WordPress has always been easy. But if you really want to make your website stand out from the growing crowd, you’re going to need some help. For our money, a subscription to Storeshock WordPress Themes & Elements does the trick almost as well as having a pro designer by your side […]
These days, there isn’t much our iPhone camera can’t do – except feel like an actual phone. Despite years of steadily increasing resolution and image sensing technology, we’re still taking shots awkwardly with two hands, fumbling for the shutter button. Leave it to an avid photographer to design Shuttercase, a versatile iPhone case that solves […]