Wells Fargo - Stop Dumping People on the Streets and Creating Homelessness!

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The Issue

The Profeta family has been left in the streets, living in their car and a hotel after being forced out of their home, mainly by Wells Fargo, after a disputed and questionable foreclosure and then questionable sale to a third party and eviction.

The California Community Equity and Advocacy Association along with homeowners, advocates and concerned constituents from across the country petition the parties involved in the eviction of disabled widow Elizabeth Profeta and her family, to undo their eviction under moral grounds as well as legal and Constitutional grounds, in the middle of a pandemic and as winter approaches.

We also petition House Financial Services Committee, Congresswoman Maxine Waters, and Wells Fargo CEO Charles Scharf to hold Wells Fargo and the other entities involved accountable.

The following facts must be considered in good faith for a long term solution to her case and for many others involving 2008 crisis era abuses which CONTINUE, involving all Wall St lenders and entities and their agents; in this case involving Wells Fargo, US Bank, 2006 Bear Stearns trust, MERS along with a possible fraudulent buyer/flipper.

There is a better solution than the torture of lob sided fights in courts and endless tweaking of laws that do nothing to ensure the defense of the rights of individuals, families and communities while ensuring "too big to fail" excused criminal entities continue their crime spree.

This is a golden opportunity for the Congress and Wells Fargo to look at the real costs and value, of not only questionable loans but how homes and the people they shelter once again can be the real drivers of our country's prosperity.

The Profeta children, as young adults now, can truly fulfill the hopes of Mrs Profeta and her husband if they can be stabilized with their mother if even a fraction of the harm done is addressed or whether Wells Fargo and the other parties in fact have not paid what they claim or benefited financially in a disporportionate manner.

We also request that CEO Scharf of Wells Fargo and the House Financial Services Committee review the Wells Fargo cases we have reviewed and that CEO Scharf fulfill his pledge to address the harm done by Wells Fargo. A review of cases we have reviewed in Torrington, CT (with a CA investor/flipper) and Los Angeles, CA will help to address the widespread continuing abuses from the '08 crisis and prevent further harm from the COVID crisis which hits small town and big town America alike.

Not only will homes be saved but officials in CT, CA and in Congress can take real steps to fix our broken mortgage and financial system and finally restore faith lost during the 2008 financial crisis.

  • The Profetas were not provided with proceeds from possibly fake loan and denied a modification after being told to miss payments.
  • Husband and father stricken with cancer, family devastated by death
  • In 2012 there was a purported assignment from MERS to a 2006 Bear Stearns trust, requested by Wells Fargo in the purported role of servicer only  (Trusts usually closed within 1 year, no endorsement validating purported transaction)
  • The MERS id on the assignment and purported original note does not exist on the MERS system further bringing to question the original transaction and any transaction involving US Bank/Bear Stearns
  • After 18 months of court actions, March, 2015, with no trial, a judge questioned the due diligence of plaintiff U.S. Bank National Association as Trustee for BEA (Bear Stearns trust)
  • No power of attorney was filed in the time from the assignment in 2012 to the foreclosure in 2017. Only 2 weeks after the “sale” to the possible flipper did US Bank file a power of attorney to Wells Fargo, purportedly for Bear Stearns trusts, which requires proper endorsements and servicing as does the National Mortgage Settlement during the period after the purported assignment in 2012 until 2015. State and federal law and the CT UCC also require reliable evidence of valid transactions which for unknown reasons did not apply to the Profetas per numerous judges and local to federal officials.
  • Due process rights violated including federal court order that the state court had no jurisdiction 3 days before the purported sale to the flipper and the filing of the self serving US Bank/Wells Fargo power of attorney, 2 weeks later.
  • The only promissory note, Mrs. Profeta has access to, a copy from 2018, 6 years after the purported assignment and after the foreclosure, shows only a blank endorsement it appears as if the purported transaction between the Bear Stearns trust and the MERS/original suspicious lender never occurred.
  • “Typical”? foreclosure and eviction resulting in SEVEN PLUS YEARS of abuse and denied due process.
  • Legal aid and elected officials have failed to acknowledge any of the basic facts as to whether there ever was a legitimate mortgage loan in the first place or how Wells Fargo, US Bank and their lawyers could present themselves in court as having any authority or interest to take the Profeta's home.

These facts must be taken into account in the context of the numerous Wells Fargo scandals involving fake accounts and the recent FinCEN scandal involving Wall St banks and domestic and foreign financial terrorists and criminals that have been allowed to function as if the law does not apply to them.

Wells Fargo CEO Charles Scharf committed to addressing the harm done by Wells Fargo in it's various scandals and to change the company's culture of abuse of customers.

We also ask that Mr. Scharf and Congresswoman Maxine Waters, the head of the House Financial Services Committee, which took his pledge under oath, personally and seriously review this case and a case in Los Angeles to verify that there actually was a valid transaction that Wells Fargo oversaw, and that all requirements of law and their settlements were actually fulfilled in order to address the theft of homes and community wealth once and for all in these cases, past cases and in the ongoing crisis of 2008 and COVID and widespread abuse across CT and CA, for starters.

In the small town of Torrington, CT there are two other US Bank/Wells Fargo foreclosures since 2017 and about 27 involving US Bank as trustee. There are nearly 100 assignments involving US Bank as trustee purportedly involving other Wall St lenders, non banks, HUD, Fannie Mae and local government agencies.

We have reviewed possibly hundreds of cases primarily in the Los Angeles area that have the same red flags and possible white collar crime networks that go back to the same 2008 crisis criminals that were let off with a slap on the wrist.

We can help review the real issues that need to be addressed to stop the human suffering that is occurring while Washington and Wall St continue to pass the buck and stuff their pockets.

But these cases will provide the facts and not allow the perpetrators of the theft of homes and community wealth to hide behind judge's robes and microphones.

At the very least, Mrs. Profeta and others will be able to move forward but potentially this will answer basic questions once and for all to strengthen our financial system and communities from CA to CT.

Regardless of the results, Mrs. Profeta and her family, and potentially millions of others don't deserve to freeze on the streets or be ravaged by COVID while CEOs and politicians sip from their toxic champagne.

Mrs. Profeta and her family can revive their hope, along with millions across the country, not just for the American dream but everything our democracy is supposed to stand for. The financial terrorism by criminal banks and their agents against our people must end and so must the corruption that allows it to continue.

avatar of the starter
California Community Equity and Advocacy AssociationPetition Starter

The Decision Makers

Adam B. Schiff
Former US House of Representatives - California-28
Maxine Waters
U.S. House of Representatives - California 43rd Congressional District
House Financial Services Committee
House Financial Services Committee
CEO Charles Scharf
CEO Charles Scharf

Petition Updates