Wells Fargo Plants Comment by Paid Officer

ONE ON ONE WITH NEIL GARFIELD ONE ON ONE WITH NEIL GARFIELD

COMBO ANALYSIS TITLE AND SECURITIZATION

SEE still-dealing-with-fictitious-moral-issue-why-dont-you-pay-your-bills-deadbeat

Thanks to Karl Denninger, we now know that the email came from the Wells block of IP addresses. Special message to the idiot calling himself or herself FEDup, you have denigrated a perfectly valid web site www.fedupusa.com. So if you are truly FEDup you must be referring to what you put in your mouth.

FROM KARL DENNINGER

This is a plant from Wells Fargo (the post came from their IP block) and has ZERO affiliation with FedupUSA, which posts over on my forum as well as on their own blog.

Needless to say I’m in contact with them on this and I suspect the owners of FedUp (I’m not an officer, but they are!) will be dealing with this shortly.

11 Responses

  1. leapfrog,

    Believe nearly all of subprime mortgages were table-funded. Thus, none of the mortgages originated by these wholesale lenders/brokers/correspondent lenders — were originated with the intention of retention – and were not retained — unless they were repurchased — but, there were repurchases.

    American Brokers Conduit was the wholesale division of American Home Mortgage Investment Corp.

    It was reported that a division of AHM was purchased by IndyMac Bank (cannot confirm).. American Home Mortgage Servicing Inc., another division, was sold to Wilbur Ross & Co. LLC.

    CW did not retain loans either. Neither did Bank of America, NA. — You have to know all the divisions and subsidiaries of corporations. Some of the subsidiaries of big banks had their own debt purchasing divisions.

    Fannie/Freddie — who knows how they were really involved. But, debt buying divisions of any corporation, and servicing for thereof, does not mean the parent corporation — the only party to file financial statements — owns the rights to collection. Because, — there were/are, big proprietary relationships with hedge funds/debt buyers — and as Soliman points out — also REITS. AHM was, by the way, organized as a REIT.

    Where the debt flowed — is anyone’s guess – and not accessible due to deregulation of reported finances.

  2. […] This post was mentioned on Twitter by Teri Sherwood and Wanta Freedumb, kim thomas. kim thomas said: Wells Fargo Plants Comment by Paid Officer: http://t.co/xO1Gg58 […]

  3. The correct site address is http://www.fedupusa.org NOT com. Go see the truth and now a lie posted here, interesting how these people, banksters are trying to dupe the public repetitively. Livinglies will not let this happen …ever. Nor will THE PEOPLE, We all know , at least those that want to know. I am so ready to see what will happen with all of this bullying and lying speech, gluttony of greed mongering. People are and have been talking about the housing market bubble for years and now we see the harm caused to so so many good hard, or were hard working people. The truth will set you FREE. We so need to sue the government in masses for fraud on the public. Now they are hurting with little tax money coming from WE THE PEOPLE. Outcome to be announced soon with more psychobabble via the stupidbox near you, listen well, as we now are understanding more and will know more as we have learned to read between and through the LIES. Too many crooks in Washington and in local communities.
    Blessing to you all.

  4. Thanks, Anonymous. I did kind of wonder about New Century & CW.

    I had ABC (American Broker’s Conduit). Was that a table-funder too? They went BK in 2007. AHMSI did the servicing for about 3 months, then allegedly transferred to CW, then BOA, then BAC. Add Fannie & MERS to the mix.

  5. Not sure, but believe the referenced FedUpUSA website is http://www.fedupusa.org, not *.com.

  6. leapfrog,

    Thanks for the Consumer Protection article– very important.

    But, as the article states, if Obama does appoint a director by July — there will we no control by agency over lenders such as New Century, Ameriquest, Countrywide, etc. — who caused much of the financial mortgage mess.

    What so many, such as this editor, do not understand is that these mortgage “originators” –were just a “front” for the big banks. None of these “originators” retained the loans — in fact they sold them before borrowers even sighed on the dotted line (table-funding). And, the Wall Street banks that purchased the loans then securitized the loans (falsely) — then dispose of the loans (deregulated).

    What we need is protection from the banks.

  7. Beautifully busted

  8. That figures! And for the record, I love fedupusa’s website – kind of a compendium of everything anti-bankster. How dare that call center deutschebag denigrate them! On a more sobering note, check this out:

    http://www.huffingtonpost.com/2011/01/19/obama-consumer-agency-may_n_811330.html

  9. Yeah, Wells Fargo and the CountryWide/Bank of A**** (fill in the letters) are in a competition on how low they will stoop.

    Monihan and his buddy Barbara Doeser deserve matching orange jumpsuits and then an eternity in hell. Their buddies at Litton who do part of their dirty work deserve the same instead of the kudos that ‘society’ heaps on Larry.

  10. Thanks for this Neil.

  11. Wells Fargo is twisted and a bunch of sick bastxxxs (fill in the missing letters). I am praying that one day they all rot in hell. Good work to the people exposing Wells for the cowards that they are.

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