Courts Rule Against Wells Fargo in Foreclosure Lawsuits
homeowners in foreclosure received favorable rulings.
In the first case, a married couple alleged that although they temporarily fell behind on their mortgage, they reinstated it by making a requested payment at the direction of Wells Fargo. But Wells Fargo foreclosed, anyway.
The couple built the home together and were married there. They then sued on the basis that, among other things, Wells Fargo did not hold their note.
Ordering $2.9 million in punitive damages, $200,000 in emotional distress, and clear title to the home, the judge in the case wrote that “Wells Fargo took its money and moved on, with complete disregard to the human damage left in its wake.”
The judge also sanctioned Wells Fargo’s attorneys because they “have demonstrated a pattern of contempt for the . . . Court rules as well as this court’s rules and orders.”
In the second case, similarly, the homeowners also alleged that Wells Fargo did not hold their note. Instead, the homeowners alleged, Wells Fargo forged assignments and indorsements.
Finding for the homeowners, the judge wrote that there was “a general willingness and practice on Wells Fargo’s part to create documentary evidence, after the fact, when enforcing its claims, WHICH IS EXTRAORDINARY.”
Attorneys for the homeowners said that these practices are not out of the ordinary, and that “this is business as usual.”
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