OFFICE OF THE REAL ESTATE APPRAISER (OREA) COMPLAINT NUMBER 110322-09 AGAINST JAMES EBERT OF EBERT APPRAISAL SERVICE INC.
FINALLY SOMEONE IS GOING AFTER THE APPRAISAL FRAUD: BARRY FAGAN, ESQ.
Posted on October 6, 2011 by Neil Garfield
EDITOR’S NOTE: Without fraudulently inflated appraisals, Wall Street would have only been able to move about half as much money as it did. That would have resulted in losing over $1 Trillion in hidden yield spread premium that occurred when the loans were purportedly “Sold” to the pools. Without inflated appraisals we would not have people under water, nor would there have been nearly as many foreclosures because selling the home would have been possible.
It was a trap, pure and simple, created by Wall Street and now being relentless enforced by non-creditors who take advantage of the fact that investors want no part of any claim against homeowners. Investors know that there are legitimate counterclaims, affirmative defenses and defenses. They know they can’t answer discovery without giving away the case. So now we have sharks (pretenders) swimming in for a feeding frenzy because nobody else came to the party.
Comptroller of the Currency
Administrator of National Banks
1301 McKinney Street,
October 3, 2011
Re: Case No. 01615287 and 01406372
WELLS FARGO BANK, NA
BARRY S FAGAN- Complainant/Plaintiff
Los Angeles Superior Court Case SC112044
SUPPLEMENTAL EVIDENCE OF BANK AND APPRAISAL FRAUD
A.VIOLATIONS OF THE OCC CONSENT ORDER DATED APRIL 2011
B. VIOLATIONS OF THE FEDERAL RESERVES $85,000,000 CONSENT DECREE AGAINST WELLS FARGO FOR BANK EMPLOYEES FALSIFYING BORROWERS LOAN APPLICATION INCOME AND INFORMATION.
Dear Mr. Chandler:
I am in receipt of your letter dated September 6, 2011 and wish to further supplement my file with additional evidence of bank and appraisal fraud.
Attached hereto and made a part hereof are Exhibits A through H, all of which have been filed with the Superior Court of Los Angeles CASE NUMBER SC112044, and have now become a public record.
Contained within those exhibits, is evidence of a fraudulent loan application, appraisal fraud and a Declaration of Default (Section 2923.5 violation), perjury and continued violations of your own OCC regulatory rules, regulations and Consent Orders.
Kindly review these exhibits to see that Wells Fargo Bank continues to Verify under penalty that which can be easily proven as untrue.
The evidence to prove that my loan application was indeed falsified is compelling as:
I have already verified under penalty of perjury in my July 15, 2011 First Amended Complaint, that I did not fill out any of the information in my loan application, nor see the loan application that was submitted to the underwriters by Wells Fargo private banker Dalia Warren. I verify that no income information was given to Wells Fargo Bank by me and that the alleged 2007 loan was a Stated Income Loan that did not require any income to be verified. I verify that I have never met Dalia Warren, a private banker at Wells Fargo Bank. I verify that Dalia Warren stated a false income on my loan application, a false marital status on my loan application, a false purchase date and purchase price on my loan application and a false statement concerning that my home was not held in trust at the time of the 2007 loan.
I verify that I signed an IRS form which gave Wells Fargo Bank permission to pull my income tax returns but that Wells Fargo Bank Never in fact did so. I verify that on July 20, 2011, Wells Fargo Bank was fined $85,000,000 by the Board of Governors for the Federal Reserve for having their employees prepare loan applications on behalf of their clients with false and inflated incomes. Even the application itself states that the borrower (me) was given no access to it, nor was I privy to any amendments made to it. The Loan Application itself states that $775,000 was applied for and yet Wells Fargo approved $1,000,000 without any regard to proper underwriting standards or guidelines. See Exhibits C & D.
Moreover, Wells Fargo Bank’s May 11, 2011 Response to the OCC’s own inquiries concerning this subject loan contain false and inconsistent statements concerning income, debt to service ratios, loan to value, and CLTV.
See Exhibit B.
Exhibits E, F and G all show just how James Ebert of EBERT APPRAISAL SERVICE INC. falsely and fraudulently inflated the value of my residence in 2007 to