Very informative Court Case about the true Wells Fargo and Freddie Mac Policies

JUDGMENT

Undisputed evidence reveals Plaintiffs finally received a dollar amount to stop the foreclosure from Kozeny & McCubbin and Defendant Wells Fargo. Plaintiffs procured the necessary funds per the agreement. Regardless, on August 15, 2008, Kozeny & McCubbin proceeded to foreclosure, selling the property to Defendant Federal Home Loan Mortgage Corporation (hereinafter referred to as Freddie Mac) for the sum of $141,792.30. Plaintiffs' efforts to set aside the foreclosure and/or reinstate the loan were in vain.

 

In Count I, Plaintiffs seek both compensatory and punitive damages for wrongful foreclosure of their property by Defendant Wells Fargo. Based upon the facts presented at trial, including, but not limited to, the facts set forth herein, the Court finds the foreclosure sale of the subject property on August 15, 2008, was wrongful.

The evidence further established Plaintiffs suffered considerable emotional distress and mental and physical anxiety attributable to, or as a direct result of, Defendant Wells Fargo's actions. Plaintiff David Holm suffered panic attacks, heart problems requiring a heart monitor, high blood pressure, and daily anxiety due to the circumstances relating to the wrongful foreclosure. Plaintiff Crystal Holm testified regarding her "fear" of losing her family's .home, and the impact of such a loss on her 12-year-old daughter, Liberty, and family. Mrs. Holm recounted her loss of optimism regarding a property that she hoped would be populated by horses and other animals. Both Plaintiffs testified about the substantial stress on their marriage resulting from the Defendants' predatory and extreme and outrageous conduct.

 

The evidence established that Wells Fargo's intentional choice to foreclose arose from its own financial incentives. Dr. Kurt Krueger testified that Wells Fargo had financial incentives to seek reimbursement of its fees at a foreclosure sale. This economic motivation collided with the well-being of David and Crystal Holm, and was clearly contrary to the interests of Freddie Mac. In other words, in this case, a powerful financial company exerted its will over a financially distressed family in Clinton County, Missouri. The result is predictable, Plaintiffs were severely damaged; Wells Fargo took its money and moved on, with complete disregard to the human damage left in its wake,

Defendant Wells Fargo is an experienced servicer of home loans. Wells Fargo knew that its decision to foreclose after reinstatement was accepted would inflict a devastating injury on the Holm family. Wells Fargo's actions were knowing, intentional, and injurious.

 

Defendant Wells Fargo operated from a position of superiority provided by its enormous wealth. Wells Fargo's decision took advantage of an obviously financially vulnerable family, and there is no evidence of remorse for the harm caused to David and Crystal Holm. In fact, the Court recalls the lack of remorse and humanity illustrated by a Wells Fargo's corporate representative who testified, "I'm not here as a human being. I'm here as a representative of Wells Fargo."

Based upon the facts presented at trial, and including, but not limited to, the facts set forth hereinabove, the Court finds Plaintiffs are entitled to punitive damages against Defendant Wells Fargo Home Mortgage, Inc., in the amount of TWO MILLION NINE HUNDRED FIFTY- NINE THOUSAND ONE HUNDRED TWENTY-THREE DOLLARS ($2,959,123.00). Based upon the record, the Court finds this sum to be fair and reasonable and supported by clear and convincing evidence adduced at trial.

IT IS THEREFORE ORDERED ADJUDGED AND DECREED that judgment is entered for damages in favor of Plaintiffs David and Crystal Holm, husband and wife, and against Defendant Wells Fargo Home Mortgage, Inc., in the amount of TWO HUNDRED NINETY-FIVE THOUSAND NINE HUNDRED TWELVE DOLLARS AND THIRTY CENTS ($295,912.30). Based upon the record, the Court finds this sum to be fair and reasonable and supported by the evidence adduced at trial.

IT IS FURTHER ORDERED ADJUDGED AND DECREED that judgment is entered for punitive damages in favor of Plaintiffs David and Crystal Holm, husband and wife, and against Defendant Wells Fargo Home Mortgage, Inc. in the amount of TWO MILLION NINE HUNDRED FIFTY-NINE THOUSAND ONE HUNDRED TWENTY-THREE DOLLARS ($2,959,123.00). Based upon the record, the Court finds this sum to be fair and reasonable and supported by clear and convincing evidence adduced at trial.

IT IS FURTHER ORDERED ADJUDGED AND DECREED that judgment is entered in favor of Plaintiffs David and Crystal Holm, husband and wife, and against Defendant Federal Home Mortgage Corporation (Freddie Mac) on the claim for quiet title relief. Title to the property is quieted in the name of Plaintiffs David and Crystal Hahn, husband and wife, who are hereby vested with fee simple title in and to the property commonly known a

and legally described as follows:

MISSOURI, ACCORDING TO THE RECORDED PLAT THEREOF.

IT IS FURTHER ORDERED ADJUDGED AND DECREED that costs are assessed against Defendant Wells Fargo Home Mortgage Inc., and Defendant Federal Home Loan Mortgage Corporation.

 

Dated this 26th day of January, 2015

R. Brent Elliott

Circuit Judge Division II

43rd Judicial Circuit, Missouri

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