Average Turnaround Time Only 7 Days

Expert Quiet Title Lawsuit Package

Houston couple wins $5.4 million in foreclosure fraud lawsuit against Wells Fargo using a Bloomberg Securitization Audit

It’s a story that’s been seen hundreds, if not thousands of times since the housing crisis. Homeowners fight back against foreclosure, saying that the lender or servicer has no legal authority to foreclose on their home.

And it usually ends the same way, with the little guy losing.

But one Houston couple took on one of nation’s biggest banks – and won. Big.

According to a report from the Houston Chronicle, David and Mary Ellen Wolf received a foreclosure notice in 2011 from Wells Fargo (WFC). There was one problem: They’d never done business with Wells Fargo or their assigned mortgage servicer, Carrington Mortgage Services.

After talking the situation through with a lawyer, W. Craft Hughes, who happened to be their neighbor, they determined that neither Wells Fargo nor Carrington had the legal right to foreclose on them.

And the Wolfs took Wells Fargo and Carrington to court and won.

From the Houston Chronicle:

A state district court jury in Harris County agreed last month and awarded the Wolfs $5.4 million after a four-day trial.

“It’s very unusual,” said Linda E. Fisher, professor of law at Seton Hall Law School who has testified before Congress on the effect of mortgage fraud on consumers. “Cases like this don’t usually get in front of a jury.”

Now the issue of mortgage notes being transferred between lien holders and servicers after the mortgage was originated is not a foreign concept at all, but the Wolfs, via their neighbor attorney, argued that Wells Fargo violated Texas law.

Again from the Houston Chronicle:

Hughes argued that when Wells Fargo retroactively attached the Wolfs’ mortgage to a securitized trust that was closed and sold to investors three years earlier, the bank violated a Texas law that prohibits fraudulent real estate filings. The jury agreed, although State District Judge Mike Engelhart hasn’t formally entered the verdict, and the bank and mortgage company haven’t said whether they’ll appeal.

The Wolfs’ house is currently on the market for $850,000, and no one seems to know who owns it now.

Again from the Houston Chronicle:

“That’s a big question mark,” said Hughes. The jury found that neither Wells Fargo nor Carrington owns the mortgage note. But the jury also determined the Wolfs owe $655,000 on the note they signed in 2006.

At least they can use some of that $5.4 million to pay off the note.

Source: Houston Chronicle

Read case here 90-JURY-VERDICT-Wolf-11.10.2015

Your Bloomberg Securitization Professional Quiet Title Litigation Package is the new and improved version of CFLA, the founders of the industry, successfully sold for more than a decade!

Testimonials

This is a testimonial to Jim and the CFLA team. CFLA and the audit once again proved to be worth far more than it’s weight in gold. I was able to negotiate a (an impossible) short sale with SPS and settle with three subordinate lenders (only one of which was TARP). The deal recently closed and I remain undefeated. Much appreciation and thanks to to Jim Salvagio, Melanie Paree and the CFLA team. Further thanks for awesome support, customer service and always going above and beyond the call of duty! Sincerely and Very Best Regards.
—Jeff Burch

——————————————————

My wife and I would like to thank you for the wonderful work you’ve done submitting the loan modification to ocwen on our behalf, we have been wrestling with them for so long and we were getting nowhere and in fear of losing our home. After you suggested I called them to find out what the status of our loan modification was, they told us over the phone that we were eligible for a Sam [Shared Appreciation Modification) they reduced our principle from $736,579.75 to $513,950.00 our interest rate went from 4.25% to 2.00% our monthly mortgage payment went from $3467.83 interest only to $2354.82 principle interest taxes and insurance included, our interest only loan was changed to a 22 year conventional fixed rate loan at 2.00%. This is good news, we could not be more grateful for the work you put into the modification. In addition; the difference between the original principle including penalties and interest and the new principal balance of $513,950 was $476,732.99 which they agreed to waive off 1/3 of that amount each year for three years as long as I remain current on my payments, at the end of that time the debt would not exist. They also told me that notification had gone out to their attorneys to stop the foreclosure proceedings, which was pending a sale date as you know. My wife and l are still in shock we wanted to see everything in writing and they told me over the phone tracking indicated that the package had been delivered to my address and it was already in the mailbox. I’m sending you copies of everything for you to look over This was a great deal you got us Steven there’s more I can’t put in writing. Well done. This is a big step for us to be able to stay in our home.
—Anthony and Karen Boone

——————————————————

I just wanted to thank you for the great job on the affidavit that you wrote with our Bloomberg Audit. We had a sale date today 10-22-13 and yesterday our attorney presented a complaint with the affidavit referenced to the judge to do an injunction and he read it for only a few minutes and stopped the sale. We are proceeding to a hearing at a future date. We are in Wyoming and I don’t believe they have ever seen anything like this against the banks. We have friends who now want a securitization audit and I am going to talk them into a Bloomberg audit. Thank you again.
—Susan Cacho

——————————————————

Hello, you did a securitization audit for me in 2014. Guess what? Chase agreed to settle for 11k, which was only PART of the property tax owed. The bankruptcy court approved the settlement agreement so It is a done deal. Once I submitted your audit, in my amended objection to their proof of claim, they started talking about a settlement. Anyway, I am interested in taking your three day course at a future date. Thanks again.
—David Schaar

——————————————————