Wells Fargo Bank, N.A. and law firm John G. Aldridge, JR., P.C. Corporation are the defendants in a proposed class action filed over alleged violations of the Fair Debt Collection Practices Act (FDCPA). The plaintiff, a Florida woman, says she was left property following the death of a family member. The property’s promissory note, the case says, was executed in August 1999 for $133,000, for which the plaintiff was one of two persons who executed and delivered a mortgage payment. The lawsuit then says “the subject note was then lost, misplaced, or destroyed, due to no fault of [the plaintiff].”
At the heart of the case is the Wells Fargo’s false claim that it is the “holder” of the note at issue and, thus, entitled to sue the plaintiff “by virtue of possession and endorsement.”
From the lawsuit:
“[The defendants] systematically file misleading certifications, in that it leads the least sophisticated consumer to understand that the person making the certification has actually obtained and looked at the physical original note to determine who has possession of the note, but the procedures and policies of [the defendants] in creating such certification do not require the signer to examine the physical original note. The absence of such procedures is evinced by the absence of even a copy of the note attached to the certification in this case.”
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