Statement From A.G. Schneiderman Regarding The National Mortgage Settlement Monitor's Finding That...
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Transcript of Statement From A.G. Schneiderman Regarding The National Mortgage Settlement Monitor's Finding That...
7/28/2019 Statement From A.G. Schneiderman Regarding The National Mortgage Settlement Monitor's Finding That Wells Fargo Failed To Comply With Timeline Servicin…
http://slidepdf.com/reader/full/statement-from-ag-schneiderman-regarding-the-national-mortgage-settlement 1/5
]tct`h`bt Drgh C"F" ]mnb`le`rhcb Q`fcrelbfUn` Bctlgbci Hgrtfcf` ]`tti`h`bt Hgbltgr&s
Dlbelbf Unct V`iis Dcrfg Dcli`e Ug Mghpiy VltnUlh`ilb` ]`rvlmlbf ]tcbecres
B@V \GQJ ” Bctlgbci Hgrtfcf` ]`tti`h`bt Hgbltgr Kgs`pn C" ]hltn) Kr"
r`i`cs`e c prgfr`ss r`pgrt `vciuctlbf tn` mghpilcbm` gd CiiyDlbcbmlci'FHCM) Acbj gd Ch`rlmc) Mltl) K_ Hgrfcb Mncs` cbe V`iis Dcrfg
wltn tn` hgrtfcf` ]`rvlmlbf ]tcbecres hcbect`e ay tn` Bctlgbci Hgrtfcf`
]`tti`h`bt" Un` Hgbltgr hce` dlbelbfs cfclbst s`v`rci gd tn` s`rvlm`rs)
lbmiuelbf dlbelbf tnct V`iis Dcrfg dcli`e tg mghpiy wltn tn` ]`rvlmlbf
]tcbecre fgv`rblbf tn` tlh`ilb` dgr bgtldylbf agrrgw`rs gd e`dlml`bml`s lb
cppilmctlgbs dgr hgrtfcf` hgeldlmctlgbs"
Lb Hcy) Cttgrb`y F`b`rci @rlm U" ]mnb`le`rhcb cbbgubm`e picbs tg pursu`
`bdgrm`h`bt cmtlgbs cfclbst V`iis Dcrfg cbe Acbj gd Ch`rlmc dgr vlgictlbf
s`v`rci ]`rvlmlbf ]tcbecres fgv`rblbf tlh`ilb`s dgr prgm`sslbf igcb
hgeldlmctlgb cppilmctlgbs" Ugecy“s dlbelbf ay tn` Hgbltgr cddlrhs Cttgrb`y
F`b`rci ]mnb`le`rhcb“s css`rtlgb tnct V`iis Dcrfg ls dclilbf tg ilv` up tg lts
gailfctlgbs ube`r tn` ]`tti`h`bt" Un` Hgbltgr wcs ubcai` tg css`ss Acbjgd Ch`rlmc“s mghpilcbm` wltn tn` tlh`ilb` ]`rvlmlbf ]tcbecres a`mcus` tn`
acbj dcli`e tg `bcmt tn`h lb tlh` dgr tn` Hgbltgr“s r`vl`w" Aut tn` Hgbltgr
ele r`pgrt tnct Acbj gd Ch`rlmc ncs elsmigs`e dclilbf ct i`cst gb` gd tn`
7/28/2019 Statement From A.G. Schneiderman Regarding The National Mortgage Settlement Monitor's Finding That Wells Fargo Failed To Comply With Timeline Servicin…
http://slidepdf.com/reader/full/statement-from-ag-schneiderman-regarding-the-national-mortgage-settlement 2/5
stcbecres Cttgrb`y F`b`rci ]mnb`le`rhcb ncs mghpiclb`e gd" C prgfr`ss
r`pgrt gb Acbj gd Ch`rlmc wlii a` dgrtnmghlbf lb tn` Hgbltgr“s b`xt r`pgrt"
Un` dgiigwlbf stct`h`bt hcy a` cttrlaut`e tg Cttgrb`y F`b`rci
]mnb`le`rhcb r`fcrelbf tn` Hgbltgr“s dlbelbf tnct V`iis Dcrfg ncs dcli`e
tg mghpiy wltn tn` ]`rvlmlbf ]tcbecres gd tn` Bctlgbci Hgrtfcf`
]`tti`h`bt;
’Ugecy“s r`pgrt ay tn` Bctlgbci Hgrtfcf` ]`tti`h`bt Hgbltgr cddlrhs tnct
tn` pctt`rb gd vlgictlgbs ay V`iis Dcrfg tnct hy gddlm` egmuh`bt`e lb B`w
\grj ls ncrhlbf ngh`gwb`rs bctlgbwle`" Q`m`bt r`pgrts drgh Acbj gd Ch`rlmc wnlsti`aigw`rs tnct tn` acbj cmtuciiy `bmgurcf`e lhprgp`r e`icys
gd hgeldlmctlgb cppilmctlgbs cr` cisg e``piy elsturalbf) cbe r`lbdgrm` gur
mgbm`rb tnct tn`s` acbjs cr` digutlbf tn`lr i`fci gailfctlgbs ube`r tn`
s`tti`h`bt"Un`s` dicfrcbt vlgictlgbs put ngh`gwb`rs lb B`w \grj cbe
cmrgss tn` bctlgb ct fr`ct`r rlsj gd dgr`migsur`" L lbt`be tg us` `v`ry tggi
cvclicai` tg hy gddlm` tg ngie tn`s` acbjs cmmgubtcai` ube`r tn` t`rhs gd tn`
Bctlgbci Hgrtfcf` ]`tti`h`bt"‘
Icst y`cr) Cttgrb`y F`b`rci ]mnb`le`rhcb kglb`e 5> stct`s) tn` E`pcrth`bt
gd Kustlm` cbe tn` dlv` icrf`st hgrtfcf` s`rvlm`rs lb b`fgtlctlbf tn`
]`tti`h`bt" Un` Cfr``h`bt lbmiue`s %10 aliilgb dgr 5< stct`s cbe hcbect`e
dgrhs gd mgbsuh`r r`il`d) sumn cs hgrtfcf` hgeldlmctlgbs dgr ct(rlsj
ngh`gwb`rs) wnlmn mguie lbmiue` igw`r(lbt`r`st rct`s) dgra`crcbm`cfr``h`bts) cbe prlbmlpci r`eumtlgbs" Cttgrb`y F`b`rci ]mnb`le`rhcb
mghhltt`e %4? hliilgb drgh B`w \grj“s sncr` gd tn` s`tti`h`bt tg icubmn
tn` Ngh`gwb`r _rgt`mtlgb _rgfrch .NG__,) cb gbfglbf lbltlctlv` tg
7/28/2019 Statement From A.G. Schneiderman Regarding The National Mortgage Settlement Monitor's Finding That Wells Fargo Failed To Comply With Timeline Servicin…
http://slidepdf.com/reader/full/statement-from-ag-schneiderman-regarding-the-national-mortgage-settlement 3/5
dube nguslbf mgubs`ilbf cbe i`fci s`rvlm`s dgr struffilbf ngh`gwb`rs
tnrgufngut B`w \grj ]tct`"
Un` ]`tti`h`bt cisg lbmiue`s =?5 ]`rvlmlbf ]tcbecres tnct pcrtlmlpctlbf
s`rvlm`rs cr` r`qulr`e tg cen`r` tg) cbe wnlmn cr` lbt`be`e tg shggtn tn`
prgm`ss dgr ngh`gwb`rs tg s``j igcb hgeldlmctlgbs" Un` ]`rvlmlbf
]tcbecres w`r` lbmgrpgrct`e lbtg tn` Bctlgbci Hgrtfcf` ]`tti`h`bt tg
ceer`ss igbf stcbelbf mghpiclbts drgh mgbsuh`rs cbe cevgmct`s tnct
s`rvlm`rs suak`mt tg tn` ]`tti`h`bt” Ciiy Dlbcbmlci'FHCM) K_ Hgrfcb
Mncs`) Mltlacbj) Acbj gd Ch`rlmc cbe V`iis Dcrfg―p`rslst`btiy dcli`e tg
prgvle` dclr cbe tlh`iy s`rvlm`s tg tn`lr mustgh`rs" Chgbf tn`s` ]tcbecres
cr` dlv` tnct elmtct` tn` tlh`ilb` dgr acbjs tg prgm`ss igcb hgeldlmctlgb
cppilmctlgbs cbe tg hcj` igcb hgeldlmctlgbs p`rhcb`bt" Cttgrb`y F`b`rci
]mnb`le`rhcb“s gddlm` ncs egmuh`bt`e nuber`es gd vlgictlgbs gd tngs`
stcbecres ay V`iis Dcrfg cbe Acbj gd Ch`rlmc slbm` Gmtga`r 1?31"
Un` ]`tti`h`bt Cfr``h`bt prgvle`s tnct cby pcrty tg tn` ]`tti`h`bt hcy
arlbf cb `bdgrm`h`bt cmtlgb lb P"]" Elstrlmt Mgurt dgr tn` Elstrlmt gd
Mgiuhalc dgiigwlbf c 13(ecy bgtlm` tg tn` Hgbltgrlbf Mghhltt``" Eurlbf
tn` 13(ecy bgtldlmctlgb p`rlge) tn` Mghhltt`` hcy mnggs` tg pursu`
`bdgrm`h`bt uslbf tn` Mghhltt``“s gwb cutngrlty ube`r tn` ]`tti`h`bt) gr
tn`y hcy e`d`r cmtlgb" Ld tn` Mghhltt`` e`milb`s tg tcj` cmtlgb tn`b tn`
mghpiclblbf pcrty hcy pursu` tn` i`fci miclh gb tn`lr gwb cdt`r c 13(ecy
wcltlbf p`rlge"
Dgiigwlbf Cttgrb`y F`b`rci ]mnb`le`rhcb“s cbbgubm`h`bt) s`v`rci gtn`r
stct`s prgvle`e tn` Hgbltgrlbf Mghhltt`` wltn `vle`bm` gd slhlicr r`murrlbf
vlgictlgbs ay tn` s`rvlm`rs" Lb ilfnt gd tnls hgubtlbf `vle`bm`) gb Hcy 1=)
7/28/2019 Statement From A.G. Schneiderman Regarding The National Mortgage Settlement Monitor's Finding That Wells Fargo Failed To Comply With Timeline Servicin…
http://slidepdf.com/reader/full/statement-from-ag-schneiderman-regarding-the-national-mortgage-settlement 4/5
Cttgrb`y F`b`rci ]mnb`le`rhcb prgvle`e tn` Hgbltgrlbf Mghhltt`` cbe
tn` Hgbltgr wltn c r`vls`e cbe upect`e pcmj`t gd mghpiclbts) cs w`ii cs
ceeltlgbci hct`rlcis tg cle tn` mghhltt`` lb css`sslbf tn` vlgictlgbs" Un`
pcmj`t lbmiue`e wrltt`b mghpiclbts cfclbst Acbj gd Ch`rlmc cbe V`iisDcrfg) cbe c slfbldlmcbt chgubt gd acmj up egmuh`btctlgb e`hgbstrctlbf tn`
s`v`rlty gd tn` vlgictlgbs"
Tlgictlgbs gd tn` tlh`ilb` stcbecres lbmr`cs` tn` ilj`ilngge tnct elstr`ss`e
ngh`gwb`rs wlii igs` tn`lr ngh`s a`mcus` tn` igbf`r hgrtfcf`
hgeldlmctlgbs cr` e`icy`e) tn` e``p`r ngh`gwb`rs dcii lb tg crr`crs"
Ceeltlgbci d``s) p`bcitl`s cbe lbt`r`st cmmru` eurlbf p`rlges gd e`icy)
hcjlbf c hgeldlmctlgb hgr` elddlmuit cbe pusnlbf ngh`gwb`rs migs`r tg tn`
arlbj gd dgr`migsur`"
Un` vlgictlgbs r`m`lv`e ay tn` Gddlm` gd tn` Cttgrb`y F`b`rci cii`f` tnct
V`iis Dcrfg cbe Acbj gd Ch`rlmc vlgict`e dlv` ]`rvlmlbf ]tcbecres r`ictlbf
tg tn` tlh`ilb` dgr prgm`sslbf hgrtfcf` hgeldlmctlgbs cbe tn` mgbv`rslgb gd
trlci igcb hgeldlmctlgbs tg p`rhcb`bt gb`s" ]p`mldlmciiy;
3" ]`rvlm`r hust prgvle` agrrgw`r wltn wrltt`b cmjbgwi`ef`h`bt gd r`m`lpt gd igcb hgeldlmctlgb cppilmctlgb egmuh`bts wltnlb = auslb`ssecys gd r`m`lpt"
1" ]`rvlm`r hust bgtldy agrrgw`r gd cii hlsslbf egmuh`bts gre`dlml`bml`s lb cppilmctlgb hct`rlcis wltnlb 0 auslb`ss ecys gd r`m`lptgd egmuh`bts drgh tn` agrrgw`r"
=" ]`rvlm`r hust flv` agrrgw`r =? ecys tg suahlt hlsslbfegmuh`btctlgb gr mgrr`mt c e`dlml`bmy"
5" ]`rvlm`r hust hcj` c e`mlslgb gb c mghpi`t` igcb hgeldlmctlgbcppilmctlgb wltnlb =? ecys"
7/28/2019 Statement From A.G. Schneiderman Regarding The National Mortgage Settlement Monitor's Finding That Wells Fargo Failed To Comply With Timeline Servicin…
http://slidepdf.com/reader/full/statement-from-ag-schneiderman-regarding-the-national-mortgage-settlement 5/5
0" ]`rvlm`r hust prghptiy mgbv`rt c agrrgw`r tg c p`rhcb`bt igcbhgeldlmctlgb gbm` tn` agrrgw`r ncs sctlsdl`e tn` r`qulr`h`bts gd nlsgr n`r trlci p`rlge picb cbe `x`mut`e c p`rhcb`bt igcb hgeldlmctlgbcfr``h`bt"
Ay hle(Bgv`ha`r gd icst y`cr) tn` Cttgrb`y F`b`rci“s Gddlm` r`m`lv`e
buh`rgus mghpiclbts drgh NG__ nguslbf mgubs`igrs cbe i`fci s`rvlm`s
cttgrb`ys drgh cmrgss B`w \grj ]tct` cii`flbf tnct Acbj gd Ch`rlmc cbe
V`iis Dcrfg r`p`ct`eiy dcli`e tg r`spgbe tg ngh`gwb`rs s``jlbf igcb
hgeldlmctlgbs wltnlb tn` tlh`ilb` elmtct`e ay tn` ]`rvlmlbf ]tcbecres"Ay tn`
`be gd Cprli) Cttgrb`y F`b`rci ]mnb`le`rhcb“s gddlm` nce mgii`mt`e
mghpiclbts mltlbf nuber`es gd vlgictlgbs ay V`iis Dcrfg cbe Acbj gd
Ch`rlmc"