North Carolina Homeowner Has Foreclosure Cancelled by Wells Fargo Bank

A North Carolina woman was able to have her foreclosure cancelled by Wells Fargo Bank after a mortgage audit found the bank to be in the wrong.


Cheyenne, WY -- (SBWIRE) -- 11/21/2013 -- The American housing market has struggled within the past decade, revealing thousands of homeowners forced to fight the foreclosure of their homes. Torie Ritchie came to Paladin Securitization Auditors just two weeks before the foreclosure of her home was scheduled to take place. Palading expedited an immediate rush on her case and found numerous violations pertaining to fraud within the homeowner’s documents.

The purported investor (Wells Fargo Bank) did not have any beneficial interest in the loan and was merely servicing the loan on behalf of Fannie Mae. The servicer had no standing to foreclose as the Note was still being held by Fannie Mae and only the collateral had been assigned to the servicer bifurcating the loan and causing the collateral to be unsecure. The loan was also in violation of Rule 8 of MERS? membership rules and was still listed as active in their system. The loan would have needed to be removed and assigned out of MERS into the investors name in order for the foreclosure to take place.

Ritchie was able to take the information from the mortgage audit to Wells Fargo Bank’s foreclosure attorney and upon reviewing the information and within one hour the pending foreclosure was cancelled due to the violations cited by Paladin. The North Carolina woman is now in the process of bringing a lawsuit against Wells Fargo for fraud with the evidence gathered by Paladin Securitization Auditors.

Paladin is currently offering a free consultation for homeowners facing foreclosure to see securitization audit is right for your specific situation. Learn more about Paladin Securitization audits by calling for a free consultation at (877) 848-8088. Or for more information, you can visit their website at