West Virginia Record

Wednesday, October 16, 2019

Borrowers allege fraudulent appraisal in Wells Fargo suit


By Noddy A. Fernandez | Mar 6, 2019

LOGAN — A couple is suing Wells Fargo Bank, N.A., citing alleged fraud, negligent misrepresentation and unjust enrichment relating to a home loan.

Ralph Conley and Kathern Conley filed a complaint against Wells Fargo Bank, N.A., as trusted for Green Tree 2008-MHI and John Doe Loan Holder and Mark Greenlee, in Logan Circuit Court, alleging that the defendants induced plaintiffs to enter a loan that originated on a bogus appraisal. According to the lawsuit, the Conleys were induced by the defendants into a refinancing on Aug. 2, 2000, broken up into two loans totaling $93,400 with a balloon payment of $58,665.98 due on Aug. 7, 2020.

However, in December 2018, the plaintiffs learned that the lien was originated based on a fraudulent appraisal because the residences listed do not, in fact, exist at the identified locations. The plaintiffs allege that the defendants unconscionably induced the plaintiffs to enter into a loan by obtaining an inflated valuation of homes that never existed on the identified locations.

The plaintiffs request a trial by jury and seek declaratory judgment, and award all available appropriate and equitable and other relief as may be reasonable and just. They are represented by Clint Carte and Daniel F. Hedges of Mountain State Justice, Inc. in Charleston.

Logan Circuit Court Case number 19-C-413

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Organizations in this Story

Logan Circuit Court Mountain State Justice Inc

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