Is wells fargo mortgage payment protection a rip off?

Jun 30, 2010 by blrpg | Posted in Insurance

We have a mortgage loan with Wells Fargo and they sent us a mortgage payment protection rate quote of $33 per month which is "secure 12 Mortgage Payment protection" through Minnesota Life Insurance with benefits up to "4000.00 a month benefit".

I think it's a bad deal, but not a scam.

See, any time a LENDER is offering to "let" you buy insurance, that only pays THEM, well, that's a bad deal.

If THEY want coverage to make sure THEIR loan gets paid, let

mbrcatz | Jun 30, 2010

I think it's a bad deal, but not a scam.

See, any time a LENDER is offering to "let" you buy insurance, that only pays THEM, well, that's a bad deal.

If THEY want coverage to make sure THEIR loan gets paid, let
mbrcatz | Jun 30, 2010

how can I file a class action suit against Wells Fargo Home mortgage?

Aug 19, 2010 by MM | Posted in Renting & Real Estate

How do you form a class action suit against Wells Fargo Mortgage company for verbally lying to you about the future of home market values?

Gather as much information concerning your situation as you can.

Search the internet for people that are in your similar situation. Contact as many that has left their contact information to be reached.

Post your situation,

Click-My-Pic-4-More | Aug 19, 2010

Mr Mortgage Exposes Wells Fargo's Toxic Waste 4/7/08

Visit my new blog... mrmortgage.ml-implode.com Wells Fargo Subprime toxic waste exposed. Do they have to raise capital? Mr Mortgage shows a 2006 ...

Mortgage papers raise Myrtle Beach real estate fraud claims

19.06.11

The Federal Reserve Board and a trio of banking oversight groups issued a consent order in April against DocX and its parent company, Lender Processing Services Inc. of Jacksonville, Fla.

Although no fine was issued and the regulators said more study is needed to determine what wrongdoing - if any - occurred, the order has sparked investigations of DocX, which shut down last year, in at least four states and more attorneys general are expected to join the probe.

The regulators' action took place after a "60 Minutes" television news broadcast on April 3 that showed DocX hired high school students and others for $10 an hour to sit in a sweatshop-like setting and sign thousands of mortgage documents every day, without checking to see if the documents were accurate.

Source: Myrtle Beach Sun News

wells fargo mortgage - Bookshelf


San Diego Magazine
152 pages 		San Diego Magazine

2011-03
... Wells Fargo Home Mortgage Kristen Nicholl, West End Mortgage Group John Osslund ... stmortgage.com NMLS 161626 t=J Katie O'Sullivan Wells Fargo Mortgage ...
Standard & Poor's creditweek Standard & Poor's creditweek

Creator: Standard and Poor's Corporation | Business & Economics - 2005
AA-/Watch Neg AA Wells Fargo Mortgage Backed Securities 2002-1 Trust US$225 mil. mortgage pass-thru certs ser 2002-1. Class B-2 ($1.35 mil. ...
The National JobBank 2005
1129 pages 		The National JobBank 2005

Creator: Richard Wallace, JACQUELINE NASH GIFFORD, Vana (CON) Dougias, Daniel (CON) Sargent | Business & Economics - 2004-09-30
WELLS FARGO MORTGAGE INC. 3601 Minnesota Drive. Suite 100, Bloomington MN 55435. 952 844-2200. Contact: Personnel Department. World Wide Web address: http: ...
Publisher: Adams Media Corp

Wells Fargo's Mortgage Loan Losses Could Rise as Treasury Cuts ...

by Trefis Team

This could have serious implications for Wells Fargo, which derives close to 30% of its value from its mortgage business according to our estimate. We currently maintain a near $32 Trefis price estimate for Wells Fargo , about 20% above the stock’s market price.

Poor Show by Banks in Audit

One of the primary factors the audits set-out to gauge was how well the banks evaluated homeowners by correctly assessing homeowner incomes. The government intends to keep tabs on this information, as the bank may have to reduce loan interest rates quite significantly in some cases after the income assessment. In such cases, the banks have an incentive to calculate income figures incorrectly to ensure that their interest income is not hit hard.

...

Read more...

wells fargo mortgage - News


2 Big Banks Exit Reverse Mortgage Business
New York Times - Jun 18, 2011
2 Big Banks Exit Reverse Mortgage Business Wells Fargo said its inability to assess borrowers' financial health was the biggest factor in leaving the business. Anyone over 62 with enough home equity can take out a reverse mortgage. Wells Fargo, the largest provider, said on Thursday that it was

JPMorgan expansion targets rivals like BofA, Wells Fargo
The News Journal - Jun 19, 2011
He's targeting states dominated by Bank of America, the biggest US bank by deposits, and Wells Fargo & Co., which has the largest branch network. The strategy runs counter to Bank of America's plan to close 10 percent of its offices as analysts

Mortgage papers raise Myrtle Beach real estate fraud claims
Myrtle Beach Sun News - Jun 19, 2011
Mortgage papers raise Myrtle Beach real estate fraud claims Linda Green's signature appears on DocX paperwork used with thousands of Wells Fargo mortgages - although not in the Dorries' case - since the real estate boom. Even so, Hines said Wells Fargo has reviewed mortgage documentation for all of its loans

Compare Mortgage Interest Rates Today – Citi, Chase and Wells Fargo Fixed FHA ...
Subprime Blogger (blog) - Jun 18, 2011
Some of the larger mortgage lenders that are currently reporting VA and FHA home loan interest rates very close to all-time lows include Citi, Chase and Wells Fargo. It is very important to note that these are three of the largest financial

White Plains event to help those with mortgage distress
The Journal News | LoHud.com - Jun 19, 2011
However, this drastic decrease may be due to government regulations requiring banks to certify their mortgage documents, which has brought foreclosures to a virtual halt throughout the state. Wells Fargo has held 520 home preservation workshops since

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