Wells Fargo Caught Forging Mortage Documents — Will We Finally See Jail Time for the Bankers?

Not a single major bank employee saw imprisonment for mortgage fraud.

March 21, 2014  |  

A new internal report says the Justice Department massively overstated its successes in targeting mortgage fraud while in fact ranking it as a low priority for investigation. The Justice Department’s inspector general says despite playing a central role in the nation’s financial crisis, mortgage fraud was deemed either a low priority or not a priority at all. This comes as a recently revealed internal Wells Fargo document appears to guide lawyers step by step on how to fabricate missing documents to foreclose on homeowners. Wells Fargo is the country’s largest mortgage servicer and services some nine million home loans.



A new internal report says the Justice Department massively overstated its successes in targeting mortgage fraud while in fact ranking it as a low priority for investigation. The Justice Department's inspector general says despite playing a central role in the nation's financial crisis, mortgage fraud was deemed either a low priority or not a priority at all. This comes as a recently revealed internal Wells Fargo document appears to guide lawyers step-by-step on how to fabricate missing documents to foreclose on homeowners. Wells Fargo is the country's largest mortgage servicer and services some 9 million home loans.

Link:
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