WOLF vs WELLS FARGO | Wells Fargo Must Pay $5.4M In Robosigning Foreclosure Row

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WOLF vs WELLS FARGO | Wells Fargo Must Pay $5.4M In Robosigning Foreclosure Row

WOLF vs WELLS FARGO | Wells Fargo Must Pay $5.4M In Robosigning Foreclosure Row

H/T Marie McDonnell

Below, I have attached the jury award from the Wolf v. Wells Fargo trial. The jury concluded its deliberations on Tuesday afternoon, November 10th.
It is my belief that this is the first jury verdict of its kind where the jury was asked to determine whether a robo-signed Transfer of Lien (assignment of mortgage) was fraudulent, and on that basis, award damages.
The jury awarded the Wolfs $190,000 in actual and emotional distress damages; $190,000 in attorneys’ fees — which is sufficient to take them through an appeal all the way up to the Texas Supreme Court; and $5 million in punitive damages to be paid equally by Wells Fargo and Carrington.
Plaintiffs David and Mary Ellen Wolf testified on their own behalf, and I testified as their expert.
I explained to the jury the sequence of “true sales” that were necessary to properly securitize the Wolfs’ mortgage loan using my “Securitization Flow Chart” which I have attached below.
Once the jury understood the requirements of the Mortgage Loan Purchase Agreement and the Pooling and Servicing Agreement, they were able to see why the Transfer of Lien executed by Tom Croft was fraudulent on the face of the document.
The Defendants called robo-signer Tom Croft and Clayton Gordon as witnesses, both of whom are employed by Carrington Mortgage Services, LLC.
The jury also found that even though Wells Fargo Bank was in physical possession of the original note, it did not own the mortgage loan because it was never securitized into the Carrington Mortgage Loan Trust, Series 2006-NC3 over which Wells Fargo serves as Trustee.
The jury verdict, and especially their finding that the Transfer of Lien was fraudulent, supports my findings in all of the registry of deeds audits I have conducted for:
  • John L. O’Brien, Register of Deeds, Essex Southern District, MA
  • Nancy J. Becker, Recorder of Deeds, Montgomery County, PA
  • Seattle City Council, Seattle, WA
  • In re: Mortgage Electronic Registration Systems, Inc. Litigation, Maricopa, Pima, and Pinal Counties, AZ
The jury verdict in the Wolf v. Wells Fargo trial is epic. Among other things, it demonstrates that when given all the facts, average people can distinguish the difference between “deadbeat borrowers” and a family who fell upon hard times and always tried to do the right thing.
This case should send a message of hope for others; it also provides a road map for cutting through the complexities of modern finance to arrive at a just result. 
QUESTION NO. 1
Did any defendant make, present, or use a document with:
  1. knowledge that the document was a fraudulent lien or claim against real property, or an interest in real property; and
  2. the intent that the document be given the same legal effect as a valid lien or claim against real property, or an interest in real property; and
  3. the intent to cause the Plaintiffs to suffer financial injury or mental anguish or emotional distress?
A lien is “fraudulent” if the person who files it has actual knowledge that the lien was not valid at the time it was filed.
“Lien” means a claim in property for the payment of a debt and includes a security interest.
Answer “Yes” or “No” as to the following:
Wells Fargo:   YES
 
Carrington:     YES

Law360-

A Texas state jury awarded nearly $5.4 million to a couple accusing Wells Fargo NA and others of “robosigning” documents that led to the wrongful foreclosure of their home, holding that the banking giant knew that documents supporting the foreclosure were fraudulent.

After four days of trial and just four hours of deliberation, the jury on Tuesday found that there was “clear and convincing evidence” that Wells Fargo and Carrington Mortgage Services LLC knew that the supporting documents were a fraudulent claim on the property owned…

[LAW360]

 

90 – JURY VERDICT – Wolf (11.10.2015)

Wolf Transfer of Lien (NCMC to WF), 10.15.2009

MCDONNELL’S – SECURITIZATION FLOW CHART (WOLF) – NEW CENTURY.ins

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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6 Responses to “WOLF vs WELLS FARGO | Wells Fargo Must Pay $5.4M In Robosigning Foreclosure Row”

  1. This is awesome. Marie is an incredible person with a mission to bring out the truth. And she did it here. Bravo! Bravo for the Wolfs.

  2. Dawn casey says:

    I am onterested in suing the Bank and Nationstar is there anything or any advise to give me???

  3. DC says:

    We the people must get organized in mass and demand our rights be restored from a corrupt congress and corrupt administration and once we demand them be returned if the numbers are there,then they will have no choice.That means putting down the distractions for a min,I have also been fighting Wells Fargo for 5 years and they lie,fabricate,forge,photo shop any document needed.
    My case had ample blatant fraud and lies and deception yet judges and lawyers are also stealing justice from the people,judge dismissed my case without leave to amend,take a look at their pension fund holdings and you see why they rule in favor of banks mostly.
    This is a good one hopefully it stays that way.

  4. Ray Shelton says:

    I used Jeff Barnes and was very very disappointed, I believed he conned us from the very beginning. He took thousands from us including valuable property. Threatened us because we called him out on doing such a poor job. He Got a quick claim deed from my family then once signed he bailed out. Don’t believe the hype. I am not the only one. We believe He is a very bad person who has almost cost us our home and income. God Bless

  5. Ray Shelton says:

    Re Attorney Jeff Barnes out of Florida, Dammmmmm did he screw my family out of valuable Property. Right after he got a quick claim deed to cover our future legal fees, from our family, he bailed out and abandoned our case leaving us totally helpless at the last moment. When confronted to return our property he cracked. He said he was going to contact his friends at the Florida attorney generals office and the IRS and my bankruptcy judge with personal information that will put me and my family in prison. We are elderly and could not believe what we were hearing. We believe that he is a very dishonest man who will hurt you if he can, like he did us. We are going to sue him to get our property back and we are going to file a complaint with our Fla Bar. We are not the only family that has gone through this type of unconscionable behavior with Jeff Barnes. If you have had the same trouble with Jeff Barnes please call me at 352 274 8467 Ray Shelton

  6. I would appreciate responses to why it is profitable for (usually the mortgage servicer) to foreclose other than the government guarantees of foreclosure costs on government insured loans, not wanting to carry a mortgage for less than 50 thousand, reselling renovated property with a low loan balance, acquiring a new mortgage origination fee, WHAT MAKES IT PROFITABLE FOR THEM TO FORECLOSE? jaybyrdcarroll@gmail.com

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