Loop News
| Wells Fargo Exposed |
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| Saturday, 12 April 2008 04:55 | |
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Wells Fargo Subprime toxic waste exposed! YouTube video from Mr. Mortgage on Exposing Wells Fargo’s Toxic Waste
Wells Fargo Subprime toxic waste exposed. Do they have to raise capital? Mr Mortgage shows a 2006 Wells rate sheet. This is hard evidence of Wells doing nasty subprime loans for borrowers with scores as low as 500 and 120-day mortgage late payments, which is essentially foreclosure status. They did not sell this directly to consumers, rather used correspondents like New Century, Accredited, Countrywide etc to rebrand the programs and sell them as their own. This is a very common practice but this just proves Wells is dirtier than most. First, because not everyone did subprime. Second, because they lied of course. You can find more from Mr. Mortgage at his blog. |
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| Last Updated ( Saturday, 12 April 2008 05:14 ) |
