In this latest week’s WTF headline we find the story of Larry Delassus. Delassus was the victim of a Wells Fargo typo that caused his mortgage to double because of the billing error by the bank. It turns out the two years of late property taxes Wells claimed were owed by Delassus, were actually his neighbor’s. Wells Fargo entered the condo unit’s parcel number wrong, and instead of billing the rightful owner, Wells Fargo took Delassus through a legal nightmare. In 2009 Well’s Fargo doubled Delassus’s mortgage payment to make up for the delinquent taxes which he didn’t owe. Even after discovering the error, the bank refused to correct the mistake and let Delassus reinstate his mortgage. Not surprisingly, Delassus had fallen behind on making payments which were twice what he really owed. The LA Weekly story describes the nightmare Delassus experienced with one of America’s too-big-to-jail banks.
In an unsettling new twist, Delassus couldn’t get Wells Fargo to tell him how much his reinstatement cost was. Later, in a videotaped deposition, Trujillo asks Michael Dolan, a litigation-support manager for Wells Fargo: “So Plaintiff was never provided with the reinstatement amount after the bank discovered its error, correct?”
Dolan responds, “That is correct.”
In an epic lack of empathy, the Wells Fargo spokeswoman, Vickee J. Adams, seemed to suggest no remorse over the illegal activity of the bank. Instead, she only offered a heartless observation that there wasn’t any reason for Mr. Delassus to be present in court when he died because there was no evidence or testimony to be presented. WTF?
This case just serves to confirm my opinion that Wells, Bofa and our beloved whale-loving JP Morgan are the last places in the world you should be shopping for a home mortgage. With absolutely no accountability to customers, or the established rules of law in the United States, doing business with one of these institutions is simply courting disaster.