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Mortgage Crisis Watch Business and legal issues affecting: loan repurchases | mortgage-backed securities | mortgage insurance

Tag Archives: Wells Fargo

Wells Fargo: Department of Justice Not Playing Fair

By Russell Koonin and Robert Siegel on Posted in Too Big to Fail

Crying Foul Wells Fargo has recently cried foul, claiming that the Department of Justice’s latest lawsuit against it in the Southern District of New York violates the terms of a settlement agreement Wells had previously reached with the federal government. And not just any settlement; Wells Fargo is referring to the infamous “Robo-signing” “deal” among… Continue Reading

Wells Fargo’s Shameful List

By Philip R. Stein on Posted in Mortgage Repurchase, Too Big to Fail

No Wrongdoing Required for Inclusion on Wells Fargo’s Exclusionary List Loose Underwriting Standards Imagine that you work at a company that has originated residential mortgage loans for years, following the documentation and verification requirements and guidelines established by the major banks to which your company typically sells those loans. Imagine that Wells Fargo is one… Continue Reading