Daily Archives: May 12, 2017

La Mesa Man Said Wells Fargo Lost His Retirement Funds

“I worked for a couple of different community clinics,” Terry Cunningham said.

That was back in the 1990’s but Terry said there was one thing that was fresh on his mind, the nearly $2,000 he saved in a retirement account.

“And when I left that organization, I thought well I’ll just leave the money in there because that way it will gain money and I will not touch it,” Terry said.

Terry had money taken out and placed in a 403-B retirement account. That was many years ago and now, Terry wanted his money.

“I retired a few years ago and my tax man said you should really consolidate all of that money and do a major investment,” Terry said.

For years, Terry had been getting statements from Lincoln Investment showing the money was still there and held in a Wells Fargo bank account.

“Wells Fargo could never find the account,” Terry said.

Source: http://www.nbcsandiego.com/news/local/La-Mesa-Man-Said-Wells-Fargo-Lost-His-Retirement-Funds-422047823.html#ixzz4gpv17rAQ

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Texas orders Ocwen to stop acquiring new mortgage servicing rights

The Texas Department of Savings and Mortgage Lending recently ordered Ocwen Financial Corporation to cease and desist, adding its name to a growing list of states and regulators coming after the mortgage servicer over alleged violations of state and federal law.

According to the order, as first reported by Kristen Mosbrucker with the San Antonio Business Journal, “The Savings and Mortgage Lending Commissioner having determined Ocwen Loan Servicing, LLC, has engaged in, or is engaging in, or is about to engage in, acts or practices constitution violations of state and federal law and applicable regulations, hereby issues the following finding of facts and order to cease and desist.”

Read on.