Hold Wells Fargo accountable for thousands of false loan modifications and get restitution for homeowners

The Issue

Thousands, maybe as many as a million homeowners, may have been defrauded by Wells Fargo when executing a loan modification. 

Many people who were experiencing financial challenges, in good faith, turned to their servicer, Wells Fargo for help.  Instead of getting help, they became the victims of crimes.     Wells Fargo sent homeowners false documents, that looked legitimate but aren't, to sign.  With the false paperwork Wells Fargo was able to force people into predatory terms that guaranteed the homes would go into foreclosure.  I know, Wells Fargo deceived me twice! The payments on one house were current until after two years of abuse by Wells Fargo I became physically ill, collapsed, and finally fell behind on the payments. Then, they foreclosed on that house too.   Only years later did I learn that the documents were invalid contracts. 

The documents are all executed in the name of Wells Fargo as "lender", when in fact Wells Fargo is the "servicer",  not the "lender".   Therefore, the documents are invalid contracts.   Even the "Truth in Lending" forms are false.     Wells Fargo then used these invalid contracts to foreclose on homeowners, strip the equity from the property and  devastate the economy for all Americans.

They need to be held accountable.  And the homeowners who were deceived deserve restitution.   This deception of thousands of Americans needs to stop and the CFPB has the authority to make it stop. 

Please sign and pass this petition on to anyone you know.

This petition had 75 supporters

The Issue

Thousands, maybe as many as a million homeowners, may have been defrauded by Wells Fargo when executing a loan modification. 

Many people who were experiencing financial challenges, in good faith, turned to their servicer, Wells Fargo for help.  Instead of getting help, they became the victims of crimes.     Wells Fargo sent homeowners false documents, that looked legitimate but aren't, to sign.  With the false paperwork Wells Fargo was able to force people into predatory terms that guaranteed the homes would go into foreclosure.  I know, Wells Fargo deceived me twice! The payments on one house were current until after two years of abuse by Wells Fargo I became physically ill, collapsed, and finally fell behind on the payments. Then, they foreclosed on that house too.   Only years later did I learn that the documents were invalid contracts. 

The documents are all executed in the name of Wells Fargo as "lender", when in fact Wells Fargo is the "servicer",  not the "lender".   Therefore, the documents are invalid contracts.   Even the "Truth in Lending" forms are false.     Wells Fargo then used these invalid contracts to foreclose on homeowners, strip the equity from the property and  devastate the economy for all Americans.

They need to be held accountable.  And the homeowners who were deceived deserve restitution.   This deception of thousands of Americans needs to stop and the CFPB has the authority to make it stop. 

Please sign and pass this petition on to anyone you know.

Petition Closed

This petition had 75 supporters

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The Decision Makers

Consumer Financial Protection Bureau
Consumer Financial Protection Bureau
Richard Cordray
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