Wells Fargo Attempting to Cause Misleading Report?

[McPheeters]

A Calif. LO pressuring an appraiser to do anything illegal is only enforcable if the LO is licensed; if not he/she has no liability and can not be touched. These people can pressure appraisers all day long and there is nothing anyone can do about it. Gotta love this business.

 

[CANative]

Should I contact Wells Fargo and inform them that they have a rogue AE in SoCal advising MB's that it's okay for them to pressure appraisers or to collude to affect the outcome of an appraisal?

I'm pretty sure you just did.

I have a voice mail from yesterday from a broker wanting an appraisal and she used almost the same statement you posted. She said if I could accommodate her then I should go ahead and call the REALTOR for access.

 

[J in Florida]

AE = salesman to MB. Same level.

When I worked for a wholesaler (Inland Mtg) as an FHA staff appraiser in the early 90's, the AE's routinely coached the brokers how to doctor up files to get them past underwriting. Imagine how popular I was around there...they were not very happy with me.

 

[Karl]

I know I'm going to get jumped on BUT!! When you posted this here. Did YOU also send the question to the AG of YOUR State, Governor, Banking Commisioner, FBI, Senator, Congress person (See politically correct) News media or anyone else that might care.

 

[McPheeters]

I know I'm going to get jumped on BUT!! When you posted this here. Did YOU also send the question to the AG of YOUR State, Governor, Banking Commisioner, FBI, Senator, Congress person (See politically correct) News media "or anyone else that might care"

And therein lies the problem. No one in a position to do something about it seems to care. I make that statement from my own personal experience by the way.

 

[CANative]

Wait a minute, hold on. Oh yeah. Must be one of dem der maximum financing, enhanced appraisal loan products.

http://appraisersforum.com/showthread.php?t=134225

 

[Smokey Bear]

I know I'm going to get jumped on BUT!! When you posted this here. Did YOU also send the question to the AG of YOUR State, Governor, Banking Commisioner, FBI, Senator, Congress person (See politically correct) News media or anyone else that might care.

Karl - I'm so disappointed in you - you left out the most important person to send it to: The Paminator!

Send it to Pamela Crowley at pamc @ mortgagefraudwatchlist.org (remove the spaces.) along with your contact information.

 

[Hal Mann]

Does anyone know a person at Wells Fargo that I should contact?

Here you go:

John G. Stumpf, CEO
Wells Fargo & Company
420 Montgomery Street
San Francisco, CA 94104

You can be certain this will work its way down to someone who counts. Politely ask them who regulates the bank in this regard. That should speed up their response.

 

[444nutman]

Karl - I'm so disappointed in you - you left out the most important person to send it to: The Paminator!

Send it to Pamela Crowley at pamc @ mortgagefraudwatchlist.org (remove the spaces.) along with your contact information.

I think the point Karl is trying to make is make sure you do all those b4 you send it to Pam. I feel bad for her sometimes because we send it to her instead of the people Karl listed. I have my congressman direct email. I emailed it to my governor and AG. I have never sent anything to the FBI but maybe I should. My next move is newspapers. We need to get the crap out in the open. I know that it was a lending guideline that WF put out. I know and any appraiser knows that the memo will lead to pressure on us. The problem is some appraisers will roll over. Some won't and will lose business. That is why we need to educate the public.

 

[Smokey Bear]

Chill, Nutman. It was a private joke between me and Karl.