“Substantial Evidence” of “Forged” Endorsements: Wells Fargo Loses One

“Substantial Evidence” of “Forged” Endorsements: Wells Fargo Loses One

LIBERTY ROAD MEDIA

wells-fargo-hells-cargo

The money quote (pun very much intended) from Judge Robert Drain’s Memorandum of Decision, filed yesterday in a New York bankruptcy case regarding a Texas property in which attorney Linda Tirelli is representing the homeowner:

I conclude that the foregoing evidence cumulatively shifts the burden to Wells Fargo under Tex. Bus. & Com. Code §§ 3.308(a) and 1‐206(a) to show the authenticity of the blank ABN Amro indorsement to establish its status as a holder of the Note under Tex. Bus. & Com. Code §§ 3.301(i) and 3.201(a). It constitutes substantial evidence that Wells Fargo’s administrative group responsible for the documentary aspects of enforcing defaulted loan documents created new mortgage assignments and forged indorsements when it was determined by outside counsel that they were required to enforce loans. Given that evidence, Wells Fargo should have the burden to establish the bona fides of the blank ABN Amro indorsement…

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