California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. *** AS OF NOVEMBER 2017, THE CALIFORNIA REAL ESTATE FRAUD REPORT IS 10 YEARS OLD! ***

Archive for the 'Pick-a-Pay' Category

Wells Fargo to Provide $2 Billion of Loan Modifications

December 20th, 2010 at 12:54pm

In one of his final acts as California Attorney General before taking office as California’s next governor, Jerry Brown has announced that Wells Fargo will be extending loan modifications worth up to $2 billion to borrowers to whom it underwrote “pick-a-pay” loans. In addition, Wells Fargo has agreed to pay another $32 million to borrowers on whom it foreclosed.

The settlement includes loans made by Wachovia Bank and World Savings Bank, both of which were acquired by Wells Fargo.

Approximately 14,900 Californians borrowed money under the pick-a-pay program.

Read the press release issued by the Office of the California State General.

© Copyright 2007-2018 Monique Bryher

Legal Disclaimer.

The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.


Copy Protected by Chetan's WP-Copyprotect.