United States of America v Wells Fargo Bank, N.A. Re: Complaint for Violations of the Federal Fair...

8/12/2019 United States of America v Wells Fargo Bank, N.A. Re: Complaint for Violations of the Federal Fair Housing Act

http://slidepdf.com/reader/full/united-states-of-america-v-wells-fargo-bank-na-re-complaint-for-violations 1/37

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CORJE BOGI, GO,

F`c`gfogt.

LEMTA NGV

Vh` Pgnt`f \tot`s Om`rnlo oaa`j`s;

NGVREFPLVNEG

?. Vh` Pgnt`f \tot`s brngjs

thns

oltneg

ojongst Z`aas Corje Bruai, GO ("Z`aas

Corje

er



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f

4: ?2 ?2

Toj` 6 ec <>

lr`fntwerthng`ss er eth`r ebk`ltnv` lant`rno ràot`f te berrew`r

rnsi.

Vh`s` Ocnnlog-Om`rnlog

.ogf

Hnspognl bEaa'ewers

w`r` paol`f ngte subprnm`

aeogs, wnth

ofv`rs` t`rms ogf

legfntnegs

sulh

os

hnjh

ngt`r`st

rot`s,

`xl`ssnv` c``s, pr`-poym`gt p`goatn`s, ogf ugovenfoba` cutur` poym`gt

hni`s, wh`g snmnaoray.qaaoancn`f gEaa-Hnspognl

whnt`

("whnt`") berrew`rs r`l`nv`f prnm`

aeogs,

Cer `xompa`, b`tw``g 2446

ogf

2448,

hnjhay quoancn`f prnm` r`tona

ogf

whea`soa` oppanlogts cer

Zàas Corje r ` s n f ~ g t n a mertjoj` aeogs w`r` mer` thog ceua' tnm`s os aniày te r`l`nv` o

subprnm` aeog n th`y w`r` Ocrnloaa-Om`rnlog ogf

mer`

thog thr`` tnm`s os aniày Nc th`y w`r`

Hnspognl thog n th`y w`r` whnt`,

Legv`rsày,

furngj th` \og?` tnm` p`rnef, berrew`rs wnth a`ss

coveroba` lr`fnt quoancnlotnegs w`r` mer` aniày te rè`nv` prnm`

aeogs

n th`y w`r` whnt` thog

bEaVew`rs whe w`r` Ocrnloa?-Om`rnlog er Hnspognl5

<. Offntnegoaay,

b`tw``g

ot aòst 2446 ogf 244>, opprexnmotày

<4,444

Ocrnlog-Om`rnlog

ogf

Hnspognewhea`soa`

berrew`rs

ponf Zàas

Corje

hnjh`r

c``s ogf lests

cerºthenr hem`

mertjoj`s

thog

whnt`

bEaVew`rs bèous`

e th`nr rol` er gotnegoa ernjng, get

bos`f eg

th`nr

La'`fntwerthag`ss

er

eth`r ebkètnv` lrnt`rno ràot`f te berrew`r

rnsi.

6.

Zàas Corje

wos eg` e

th` aorj`st

sngja`-comnay mertjoj`

a`gf`rs ng naa` Pgnt`f \tot`s



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f

4:/?2/?2

Toj` 0 ec >

0.

B`tw``g

2446

ogf

244>,

Zàas Corje's peanln`s oaaew`f nts aeog ernjngoters beth te s`t

th` aeog prnl`s lhorj`f te

berrew`rs ogf

te paol` berrewà s ngte aeog prefults ng

woys

thot Zà

get

l4?m`lt`f te

o

bEa rew`r s

199a fntwerthng ss

er

eth`r ebk`ltnv`

lrnt`rno

ràot`f te berrew`r

; rnsi.

Zàas

Corje mof` meg`y

bos`f

eg th`

ngt`r`st

rot`s ogf c``s nt lhorj`f

te

bEa rew`rs ogf

? . .

th` pr`mnums

nt

òrg`f

crem

ngv`stqrs

te

whem

nt

seaf

th`

buaa`

ec

nts

aeogs. Zàas Corje

ofept`f

N

n aeog

prnlngj

ogf ernjngotneg

peanln`s

thot oaaew`f

th` pà se??a?à

whe ernjngot`f nts aeogs beth

te

s`t

th` aeog prnl`s lhorj`f te berrew`rs ogf te paol` berrew`rs ngte aeog

prefults

ng woys

uglegg`lt`f

wnth lr`fnt rnsi. Zàas

Corje

lròt`f cngoglnoa ngl`gtnv`s cer nts `mpaey``s ogf

mertjoj`

brei`rs

by

shorngj nglròs`f r`v`gu`s wnth th`m.

3.

Cea àLmupa`, crem ot

aòst

2446 taa? 4ujh mnf-2448, Zàas

Cm je cr`qu`gtay ernjngot`f

shert-t`rm

hybrnf ofkustoba`-rot mertjoj`s (ORMs). Vh`s`

sPbprnm`

aeog prefults typnloaay

còtu? f o ràotnvày

aew

gem;ngoaagt`r`st rot`,

sem`tnm`s

luaa`f o ''tòs`r'.' rot`,

cer

th` cnrst

twe

er t?KN``

yòrs

ec th`

aeog,

oct`r whnlh th` rot` ofkust`f te o hnjh`r tot`

`v`ry

snx er twàv`

megths.

Vh` mest lemmeg

typ`s ec

shert-t`rm hybrnf ORMs Zà 3 2/28 aeogs,

wntaa

ngt`r`st

rot`s r`s`ttngj oct`r

twe

y`m-s. BEa rew`rs

wnth 2/28

ORM aeogs ect`g col`f poym`gt sheli



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` 3 ec >

Top`r Cnat`r, og ngt`rgoa syst`m

f`snjg`f

te

`gsur` thot oaa prnm`-ànjnba` berrew`rs

w`r`

r`c`rr`f

te th` Bogi's prnm` fnvnsneg, wos

ng`cc`ltnv`

ogf subk`lt te òsy mognpuaotneg. Zàas Corje's

ngt`rgoa felum`gts r`vòa thot s`gner eccnlnoas w`r` owor` ec th` gum`reus toltnls thot subprnm`

ernjngoters `mpaey`f te i``p aeogs g th` subprnm` fnvnsneg, ogf thot o

snjgncnlogt

p`rl`gtoj` ec

berrew`rs w`r` r`l`nvngj subprnm` aeogs wh`g

th`y leuaf

hov` quoancn`f cer prnm` aeogs. Zàas

Canrje fnf

get olt

te

of`quotày lemp`gsot` berrew`rs

whe w`r` vnltnms e fnslrnmngotneg

??4?'

fnf

nt

toa``

`cc`ltnv`

oltneg

te lhogj`

nts

peanln`s er proltnl`s te ànmngot`

tna`

fnslrnmngotneg.

8.

Ocrnlog-Om`rnlog

ogf

Hnspognl

lustem`rs

ecZàas

Corje

ng

ot

aòst 82

jèjrophne

agoral`ts olress

ot aòst

<3

stot`s

ogf

th` Fnstrnlt ec

Leaumbno

w`r` vnltnms ecZàas Corje's

fnslrnmngotery

proltnl`s.

Opprexnmotày

<,044

ec

th`s` vnltnms

r`snf`f ng th` Zoshngjteg

Orangjteg-Oa`xogfrno, FL-SO-MF-ZS M`trepeantog \totnstnloa Orò ("Zoshngjteg M\O,,).<

Offntnegoaay,

th` stotnstnloa ogoays`s

fnseuss`f

bàew ceugf opprexnmotày 6,044.vnltnms ng th`

Aes Ogjà`s M\O9 opprexnmotày 6,? 44

vnltnms

ng th` Mnomn

M\O9

opprexhgotày6,444

vnlthgs aelot`f ng

th`

G`w êri M\O9 opprexngmtày

<,244

ng ana` Lhnloje M\O9

opprexngaotày

2,?44 ng th`

\og

Croglnsle M\O9 opprexnmotày

?,644

ng th` Otaogto M\O9



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` : ec >

comnan`s leuaf hov` rè`nv`f

prnm`

aeogs, th` `legemnl burf`gs

ogf

rnsis,

nglaufngj th`

nglròs`f rnsi ec fàngqu`gly er

cer`laesur`, w`r`

portnluaoray hnjh. O

surv`y

ecaoa'j`

gotnegoa

a`gf`rs by th`

Eccnl` e

th` Lemptreaa`r ec th`

Lurr`gly (ELL)

r`pert`f thot

os

ec u g ~

<4,

24??, 28.? ecsubpa'nm`

aeogs gotnegwnf` or`

s`rneusay fàngqu`gt er ng cer`laesur`,

lempor`f

te

egay

0.0

ecpram`

aeogs. Os

ec

Ktm3

<4,

24??, Zàas

Torjo's ev`roaa

cer`laesur`

rot`

eg

r`snf`gtnoa mertjoj`

aeogs

wos :.66 . Ollerfngj

te Zàas Corje,

th` hnjh`st rnsi

s`jm`gt e

thns pertceane ns th`

subprnm` aeogs

ernjngot`f ng 2443 oa?f 244:.

?4.

Vh` Pgnt`f \tot`s brngjs thns aowsunt

te heaf Zàas Corje

olleugtoba` cer

nts

vneaotnegs

e

aow ogf te r`m`fy th` substogtnoa ogf wnf`spròf hormcua

legs`qu`gl`s

e Zàas Corje's

fnslrnmngotery a`gfngj peanln`s ogf

proltnl`s.

KPRN\FNLVNEG

??.

. Vhns

Leurt hos

kurnsfnltneg

ev`r

thns oltneg pursuogt

te 28 P.\.L. §

?<60,62

P.\.L.

§ <3?6, ogf ?0

P.\.L.

§ ?3>?`(h). S`gu` ns

oppreprnot`

pursuogtte

28 P.\.L.

§

?<>?.

T RVN@\

?2.

Zàas

Corje ns

o wheaay

ewg`f

subsnfnory ec

Zàas

Corje

&

Lempogy,

eg`

ecth`



N

Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4: ?2 ?2 Toj` 8 ec

>

.,

threujh

nts Zàas

Corje

HEPa`

Mertjoj`

fnvnsneg. Zàas

Corje Hem`

Mertjoj`

wos

o

s`porotày

ewg`f

subsnfnory

ec Zàas Corje & Lempogy

ugtna

Moy 0, 2446,

wan`g

nt wos

Pa`rj`f

ngte

Z

fns Corje Bogi,

GO.

CrePa 2446 te 2443,

Zàas

Corje

Hem`

Mertjoj` r`pert f

tetoa g`t

òmngjs

ec $?<.0 bnaaneg.

?6.

By

th`

ceurth quort`r

ec2446,

Zàas

Corje

wos

eg`

ec

th`

gotneg's

tep

t`g

ernjngoters

ec

subpa'nm` hem`

mertjoj`

?48gs.

Ng

2443,

Zàas Corje

ernjngot`f

opprexnmotày $:6.2

bnaaneg ng

subprnm` aeogs,

mer`

thog ogy eth`r

a`gf`r

ng

th`

gotneg. Zàas

Corje

sem`tnm`s r`c`rr`f

te

nts

hnjh`r-lest a`gfngj

os

gegprnm , roth`r thog subprnm`.

?0.

Zàas

Corje

ns ogf anos

b``g

o lr`fnter wnthng

th`

mògngj ec

s`ltneg

:42(`) ec

@LEO,

?0 P.\.L. § ?3>?o(`), ogf

hos

`gjoj`f ng r`snf`gtnoa ròa `stot`-ràot`f trogsoltnegs wnthng th`

mògngj

ec

s`ltneg 840 ecnan` CHO, 62 P.\.L.

§

<340. Oeeerfngjay, Zàas

Corje

ns subk`lt te

c`f`maaows jev`rgngj conr

a`gfngj,

ngeaufngj th` CHO ogf BLEO ogf th`nr r`spètnv`

nmpa`m`gtngj r`juaotnegs, th` conr heusngj

r`juaotnegs ec th` F`portm`gt ec

Heusngj ogf

Prbog

F`vàepm`gt, 26 L.C.R. § ?44.?,

`t s`q.

ogf R`juaotneg B

ec

th` Legsum`r

Cngoglnoa

Tret`ltneg

Buròu,

?2

`.C.R. § ?442.?, `t s`q. Vh` CHO ogf @LEO prehnbnt

cna?oelnoa

ngstntutnegs

crem



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` > ec <>

("Zoshngjteg `\O") mer` cr`qu`gtay thog snmnaoray-sntuot`f whnt` oppanlogts furngj th` p`rnef

crem 2446

te

2448.

Offntnegoaay,

th` ELL cEPaaf ròseg te bàn`v`

thot,

oct`r leg ;reaangj cer

lr`fnt

colters, oppanlogts crem

mngernty

l`gsus

trolts

(l`gsus

;rolts

wnth

jròt`r thog

er

`quoa te

84%

geg-Hnspognl OcHlog-Om`rnlog

pepuaotneg) ng

th` Zoshngjteg

`\O w`r`

mer`

aniày te b`

Paaf`rwrnnt`g

ng th` subprnm` lhoggà

thog

oppanlogts

crem

geg-mngernty

l`gsus

;rolts

(l`gsus

;rolts wnth

jròt`r

thog EK `quoa

te

84%

whnt` pepuaotneg).

?:,

Ceaaewngj

nts f`t`rmngotneg ng

Torojroph

?3,

ogf pursuogt te ?0

u s `

§ ?3>?`(j),

th`

el` r`c`rr`f th` mott`r te th` Pgnt`f \tot`s F`portm`gt ecKustnl`

eg

F`l`mb`r

?6,

24?4.

?8.

Oaegj wnth th` poroaa a `l ngv`stnjotneg r`c`r`gl`f obev` ng Torojroph

?3,

th`

F`portm`gt ec Kustnl` hos `gjoj`f sngl` 244>

ng

og `xt`gsnv` ngv`stnjotneg ec Zàas Corje's

a`gfngj peanln`s, proltnl`s, ogf

prel`fur`s,

nglaufngj r`vn`wngj

ngt`???oa

Bogal felum`gts ogf

geg-pubanl

NEaag-a`và

foto

eg mer` thog 2.:

mnaaneg Zàas

Corje aeogs Eanjngot`f

b`tw``g

2446

ogf

244>.

COLVPOA OAA@JOVNEG\

?>.

B`tw``g

2446 ogf 244>, Zàas Corje

ernjngot`f

r`tona ogf whea`soa` r`snf`gtnoa hem`



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` ?4 ec <>

wnth lustem`rs

ng broglh eccnl`s

ogf

ernjngot`f bethprnm`

ogf subprnm` aeogs. Vh`

subprnm`

fnvnsneg

e th` Fnstrnbut`f

R`tona

ang`

wos a`geZ os

th`

Mertjoj`

R`seurl`s

(MeR`)

fnvnsneg9

ng

òray 2440, nts gom` wos lhogj`f te Hem` Lr`fnt \eautnegs (RL\). Aeog eccnl`rs wnthng th`

Fnstrnbut`f R`tonaanaa` w`r` ossnjg`f te `nth`r th` prnm` er MeRàHL\ fnvnsnegs, Pgtna th` twe

fnvnsnegs

w`r`

m`rj`f naa

2448, ge

r`tonaae ag eccnl`r ernjngot`f beth paam`

ogf

subprnm` aeogs,

Vh` L`gtroanz`f R`tonaang3 prnmornay

hogfa`f prnm` aeog prefults

ogf ep`rot`f threujh

tà`pheg`

loaas ogf ngt`rg`t

oppanlotnegs. Zàas

Corje r`c`rr`f te beth prnm` ogf subprnm` aeog

eccnl`rs ng nts Fnstrnbut`f

R`tona

ogf

L`gtroanz`f

R`tona

ang`s

os

Hem`

Mertjoj` Legsuatogts er

HMLs. Vh`

som` prnm`

prnlngj peanln`s oppan`f

te

beth taun L`gtroanz`f ogf Fnstrnbut`f R`tona

ang`s.

2?. Vhreujh

nts

r`tona

ogf

whea`soa`

lhoggàs,

Zàas Corje ernjngot`f vnrtuoaay `v`ry typ` e

aeog prefult thot wos ovonaoba` ng th` r`snflgtnoaa`gfngj mori`t. Vh`s`

prefults

nglauf`f;

(o)

trofntnegoa karnm`

aeogs9 (b) subpram` aeogs, typnloaay f`snjg`f cer berrew`rs wnth lr`fnt sler`s 4?'

eth`r lr`fnt lhorolt`rnstnls f``m`f tee wòi te

quoanc^ cer prnm`

aeous9 ogf

(l) Oat-O

aeogs,

thes` wnth oppanlotneg r`qunr`m`gts er poym`gt terngs a`ss r`strnltnv` thog trofntnegoa prnm` aeog



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` ??

ec

<>

Mertjoj`.

oaa

Moy

?3,

2448,

Z`?as

Corje Hem`

Mertjoj` laes`f nts r`tona subprnrg` aeog

fnvnsneg

ogf

ernjngot`f nts aost subprnm` ?4?m oaa Kuay >, 2448.

22. Crem ot aòst

2446

threujh

244>, Z`?as

Corje oppan`f nts prnlngjpeKnln`s eg o

gotnegwnf`

bosns,

oacueujh nt nssu`f

stot`

sp`lncnl rot`

sh``ts te lempay

wncu

Sorneta\

stot` r`qunr`m`gts.

Ta efult

aol`m`gt

2<. B`tw``g 2446 ogf

2448,

Zàas Corje paol`f opprexnmotày 2,<04

Ocrnlog-Om`rnlog

ogf

?,304 Hnspognl whea`soa` berrew`rs, os

wàa

os offntnegoa r`tona

berrew`rs, ngte

Bubpa nrg` aeogs

`v`gcueujh whnt`

berrew`rs

whe

hof

snmnaor lr`fnt

quoancnlotnegs

w`r` paol`f

ngte prnm`

aeogs.

Os o r`suat ec b`ngj paol f ng o subprnm`

aeog,

og Ocrnlog-Om`rnlog 4? Hnspognl berrew`r ponf,

eg

ov`roj`,

t`gs ec

heusogfs

ec

feaaors mer`

cer o Zàas Corje aeog, ogf wos subk`lt te pessnba`

pr`-poym`gt p`goatn`s, nglròs`f rnsi ec lr`fnt preba`ms, f`couat, ogf cer`laesur`, ogf th`

`metnenaoa

fnstr`ss ahot oLJEmpogn`s sulh `legemnl s t r ~ s t wos

Zàas

Corje s busng`ss

proltnl` te oaaew nts HMLs ogf mertjoj` brei`rs

t

paol` og oppanlogt ng o subprnm` aeog `v`g

wh`g th` oppanlogt

quoancn`f cer

o prnm` aeog ollerfngj te

Zàas

Corje s ugf`rwrntngj

junfàng`s.

Zàas

Corje

oase

jov`

nts HML s ogf

mEatjoj`

brei`rs ernjngotngj

Zàas

Corje



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f

4: ?2 ?2

Toj` ?< ec <>

whnlh

ect`g nglauf`f

t`rms sulh

os

ngntnoa

shert-t`rm

tòs`r ngt`r`st rot`s thot suff`gay

rns`

te

preful`

substogtnoaay

nglròs`f

ogf pet`gtnoaay ugoccerfoba` poymogts

oct`r

nwe te

tag``

yòa's,

os wàa os

substogtnoa pr`-poym`gt

p`goatn`s.

2:.

mertjoj` a`gfngj

lemmnssneg strultPa'`s, aeog

eccnl`rs

typnloaay

r`l`nv` lemmnssnegs

ng

t`rms

e

bosns pengts,

wnth eg`

bosns pengt b`ngj `qunvoa`gt

te

4.4?

e

th`

aeog omeugt.

Crem 2446 te

2440,

Zàas Corje's

subprnm`

HMLs

òrg`f b`tw``g

>0 ogf ?84 bosns pengts,

f`p`gfngj eg aeog

omeugt

ogf

megthay ernjngotneg

veaum`, cer ernjngotngj o

subprnm`

aeo.g.

Crem 2443

te

244:, subprnm`

HMLs

òm`f b`tw``g

:0 ogf ?:0

bosns pengts, f`p`gfngj

eg

aeog

ome'tmt ogf

megthay ernjngotneg

veaum`,

cer ernjngotngj

o subprng?`

aeog. Crem 2446 te

244:, o

subprnm` HML òrg`f

egay

04

bosns

pengts cer r`c`rrngj

o

prnm`-ànjnba`

berrew`r

te

th`

prnm`

fnvnsneg.

Ollerfngjay,

o

subprnm`

HML aest b`nw``g20 ogf ?<4

bosns

pengts

cer

r`c`rrngj o

prnm`-ànjnba` berrew`r

te

th`

prnm`

fnvnsneg roth`r

thog

ernjngotngj

th`

aeog os

subprnm`.

Vhns

peanly

ogfproetne`

eròt`f

o

cmoglnoa ngl`gtnv` cer HMLs te ernjngot`

aeogs

os subprnm`

roth`r

thug

prug`,

`v`g wh`g

th`

oppanlogt legaf hov` quoancn`f cer

o

prnm` aeog.

28.

Zàas

Corje's eop

eg th`

omePaat e

tetoa lemp`gsotneg thot

o

mertjoj` brei`r

leuaf



Los` ?;?2 lv 4??04 Felum`gt ? Cna f 4:/?2/?2 Toj` ?6 ec <>

cer

o mer` coveroba` prnm` aeog.

VNaas

lemp`gsotneg strultur`,

lemb'ng`f

wnth th` substogtnoa

fnslr`tneg thot subprnaP` aeog ernjngoters hof te quoancy prnm`-ànjnba` berrew`rs

cer

subprnm`

aeogs, r`suat`f ng fnsernmngotneg eg th` .bosns ec rol`

ogf

gotnegoa ernjng ojongst Ocrnlog-

Om`rnlog ogf Hnspognl berrew`rs.

<4,

Cer òlh r`snf`gtnoa aeog thot Zàas Corje s RMLs

ogf mEatjoj`

brei`rs ernjngot`f crem.

ot aòst 2446 te 2448, ngcermotneg

obeut

òlh berrew`r s rol` ogf gotnegoa ernjng w8samewg by

4? ovonaoba` te

Zàas

Corje.

<?. Zàas Corje s OºTop`r Cnat`r wos ngt`gf`f te `gsur`

thot

oaa prnm`-ànjnba`berrew`rs

w`r`

r`c`rr`f te th` Bogi s prnm` fnvnsneg, but th` Cnat`r wos hnjhay susl`ptnba` te mognpuaotneg,

Pgtna aot` 2446, th` O"Top`r Cnat`r

wos

o

moguoa,

hogfwrntt`g lh`lafnst thot ugf`rwrnt`rs w`r`

r`qunr`f

t e oppay

te

`v`ry

aeog ernjngoaayugf`rwrntt`g

ng

th`

subprnm` fnvnsneg,

Zàas

Corje

swntlh`f te og outemot`f lemput`rnz`f cnat`r cer opprexnmotày

?0

megths, ogf th`g

r`turg`f

te

th` moguoa lh`lianst

curmot ng

Koguory 2443,

<2, \ubprnaP` aeog ernjngoters hof th`

obnanty

te `gt`r

nglerr`lt

ngcermotneg

ngte

th` O-Top`r

Cnat`r te

pr`v`gt

o berrew`r

crem

b`ngj nf`gtncn`f os prnm`-ànjnba`, th`r`by `gsurngj thot th`



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` ?0 ec <>

,

N

.

n

felum`gtotneg9 r`ful`f feeum`gtotnegaeogs

w`r`

get r`qtanr`f

te

je

threujh th` O-Top`r Cnat`r

prel`ss

ot

oaa.

<6. \ubprnm`

aeog ernjngoters

w`r`

get

pa'Ehnbnt`f

ct'em `gleurojngj prnm`-ànjnba`

berrew`rs te

Z``

st`ps thot weuaf fnsquoancy th`m

ca;em

r`l`nvngj prnm`

aeogs, nglaufngj,

but get

anmnt`f

te;

?)

`gleua'ojngj

b4??'4w`rs

te

cer`je

pmvnfngj nglem` ogf/er oss`t felum`gtotneg9

ogf

2) `gleurojngj beg'ew`rs

te

toi` eut

offntnegoa losh er cer`je moingj

o

fewg

poym`gt,

th`r`by

na?lròsngj

th`

bEa?'ew`r's

aeog-ae-voha` rotne ( AVS ).

hatà'??oa

Zàas

Corje

felum`gts

ngfnlot` thot Zàas

Corje

s`gner mogoj`rs

w`r`

owor` thot aeog ernjna?otea's w`r` `gleurojngj

berrew`rs

te

toi` th`s` ogf eth`r

st`ps

ofv`rs`

te

beg'ew`rs' ngt`r`sts eg o syst`motnl bosns, Os

or`suat, th` O-Top`r Cnat`r wos get oba`

te

nf`gtncy sntuotnegs wh`r`ng prnm`-ànjnba` berrew`rs

w`r`

`gleuroj`f by aeog ernjngoters

te

toa``

st`ps

nanot weuaf fnsquoancy th`m crem r`l`nvn??j

prnm`

?48a?\.

<0. @v`g

wnth th`s` anmntotnegs, th`

ngt`ra?oa Zàas Corje

oufnts th` OºTop`r Cnat`r

nf`gtncn`f muatnpa` preba`ms.

Vh`s`

oufnts ngfnlot`f thot foto ngputt`f

ngte

th` Cnat`r

wos

ect`g

ngeegsnst`gt wnth th`

ngcea?'??otneg legtong`f

ng th` aeog

cna`s, ogf

thot

mogy aeogs w`r`

ernjngot`f




4: ?2 ?2

Toj` 3 ec <>

<:.

Cer òlh

st)bprnm` aeog

thot

hof

o pr`-poym`gt p`goaty,

og

ngt`r`st-egay còtgr`,

er

r`ful`f felPm`gtotneg,

Zàas Corje

r`qunr`f

berrew`rs te snjg o

fnslaecgar`

cerm, loaa`f th`

"Trefult/Còtgr`

\à`ltneg Fnseaesur`." Vhns

cerm

purpert`f te `xpaong hew th`s` còtgr`s

nmpolt`f th` bEanew`r's caa?oglngj ogf te `xpaong thot th` berrew`r wos rè`nvngj o

Bubprnm`

aeog, ogf r`qunr`f

th`

berrew`r

te

legcnrm

?hot

o

Zàas

Corje aeog efjngoter hof fnsluss`f

oaa

ovonaoba` Zàas Corje hem` mertjoj` eptnegs Zntaa th` bEanewor.

<8. Vhns

fnslaesur`

cerm Z!Q8aaet `cc`ltnv`

ng

pr`v`gtngj aeog ernjngoters crem st``rngj

bEanew`rs

te th` subpfm`

fnvnsneg.

Zàas Corje subpa'hg` aeog ernjngoters ect`g cona`f te

fnsluss oaa

ovonaoba`

aeog eptnegs wnth

berrew`rs b`cer` hovngj

th`m snjg

th` fnslaesur` cerm.

Curth`r, Zàas Corje subprhu` aeog ernjngoters w`r` get ràK.uhº`f te ngcerm prnm`-ànjnba`

lustem`rs whe r`l`nv`f o subprng?` aeog taaot

th`y

fnf ng colt quoancy

cer

o

mer`

coveroba` aeog.

Roth`r, Zàas Corje r`qunr`f oaa subpram`

berrew`rs

te snjg

th`

TrefultNCòtgr` \à`ltneg

Fnslaesur`,

wntheut

sp`lncne igewa`fj` os

te

wh`th`r th`y w`r` ng colt ptnm`;ànjnba`.

<>.

\totnstnloa

ogoays`s ec aeog foto

cer

prnm`

ogf subpa'nm`

whea`soa` aeogs

ernjngot`f by

Zàas Corje

cer

th` tnm` p`fef 2446 te 2448 f`megstrot` thot, mòsur`f

4??

o gotneaawnf`



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f :??2??2 Toj` ?: ec <>

Vhns

f`megstrot`s

o

pott`rg

ec stotnstnloaay

snjgncnlogt

6

fncc`r`gl`s b`tw``g

Ocrnlog-Om`rnlog

ogf

whnt` berrew`rs wnth r`sp`lt

te

th`nr

prefult

paol`m gt by Zàas Corje. Vh`s` stotnstnloaay

snjgncnlogt fnsporntn`s `xnst`f nggum`reus jèjrophnl

mori`ts

olress th` gotneg os wàa.

64.

\totnstnloa

ogoays`s

ecaeog

foto

ceK'

prnm`

ogf subprnm` whea`soa` aeogs ernjngot`f by

UUUU

Zàas Corje

cer

th` tnm` p`rnefec2446

te 2448

f`megstrot`

t h o ~ U r g ` o s u r ` f

eg

~ a a ~ t n e a w n f `

bosns,

th` effs thot o

Hnsprurnl

berrew`r whe ebtong`f o whea`soa` aeog

crem Zàas Corje

weuaf

r`l`nv`

o subprhg`

NErua 'oth`r thrua

o

prnm` aeog

w`r` opprexnmotày ?.: tnm`s os

hnjh

os th`

effs ce? o whnt` bEaVew`r.

Cer

th` srug` tnga` p`rnef, th`

effs

thot oHnsprurnl berrew`r

whe

.

ebtong`f o r`tonaaeoaa crem Zàas Corje

weuaf

r`l`nv` o

subprnm`

?4oaa?'oth`r

thog

o prnm` aeog

w`r`

oppa'Exnmotày

2.6 tnm`s os hnjh os th` effs cer o whnt`

b4?VEZà .

Vhns f`megstrot`s o

pott`rg ec stotnstnloaay

snjgncneoaat

fncc`r`ge`s b`tw``g Hnsprural ogf whnt`

berrew`rs

wnth r`sp`lt

te

th`nr

prefuet

paol`m`gt by Zàas Corje. Vh`s` stotnstnloaay snjgncnlogt fnspoantn`s `xnst`f ng

gum`reus jèjroparne

m`ri`ts

olress th` gotneg os wàa.

6?. Oct`r legtreaangj cer moker

rnsi-bos`f

colters rà`vogt

te

f`t`rmngngj NErua prefult



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4: ?2 ?2 Toj` ?8 ec >

sntuot`f whnt`

bert()w`r, oct`r

olleugtngj

cer

th`

sanm`

colters.

Cer

th`

som` tnm`

p`rnef,

th`.

effs thot

og

O;Na;nlog-Om`rnlog berrew`r whe ebtong`f o r`tona aeog

crem

Zàas

Corje

weuaf

r`l`nv` o subprnm` aeog mth`r thog o

prnm`

aeog

w`r` opprexnmotày 2.4 tnm`s os hnjh os

th`

effs

cer

o snmnaoray-sntuot`f whnt` berrew`r, oct`r

olleP??tngj cer

th`

som`

colters.

Vh`s` effs

rotnes f`megstrot

o pott`rg ec stotnstnloaay snjgncnlogt

fncc`r`gl`s b`tw``g

Ocrnlog-Om`rnlog

ogf

whnt` berrew`rs wnth

r`sp`lt te th`nr

prefult paol`m`gt

by Zàas

Corje,

`v`g oct`r

olleugtngj

cer

ebk`ltnv` lr`fnt quoancnlotnea?B.

6<. Cer

th` lembng`f

tnm` p`rnef

ec

2446 te

2448, gotnegwnf`, `

effs

thot o

Hnspo;a?nl

bera'e'!'a`r whe

ebtong`f o

whea`soa`

aeog

crem Zàas Corje

weuaf

r`l`nv`

o

subprnm`

aeog

ngstòf e

o prnm` aeog

w`r` opprexnmotày ?.8 tnm`s

os hnjh os th`

effs cer

o sng?naoray-sntuot`f

whnt`

berrew`r,

oct`r

olleugtngj cer

th`

som`

colters. Cer

th`

som` tnm`

p`rnef,

th`

effs thot o

Hnspognl berrew`r

weuaf

r`l`nv` o

subprntu`

r`tona aeog roth`r

thog

o ~ p r n m retonaaeog

w`r`

opprexnmotày

?.< tnm`s os

hnjh

os

th` effs cer o

snmnaoray-sntuot`f

whnt` berrew`r,

oct`r

olleugtngj

cer th`

som` colters.

Vh`s` effs

rotnes

fàcaegstrot` pott`rg

e

stotnstnloaay

snjgncnlogt fncc`r`gl`s

b`tw``g Hnspognl ogf whnt` bEaVew`rs

wnth r`sp`lt

te

th`nr prefult



-- -

- --


4: ?2 ?2

Toj` ?> ec >

mof` ot

aòst

<44

tetoa whea`soa`

? 8??\

furngj th`

yòr,

nglaufngj

ot

aòst

<4

subprnm` aeogs

te

beth whnt`

ogf

Ocrnlog-Om`rnlog

whea`soa`

berrew`rs, \totnstnloaay snjgncnlogt

effs

rotne

fnsporntn`s

fnsco,,"erngj

Ocrnlog-Om`rnlog

berrew`rs

~ u r r ` f

ng

opprexnmotày

34% (?8

444

ec th`s` mori`ts ng

24409

oppa'exnmotày

::%

(2< ec<4) ectaa`s`

mori`ts

ng 24439

ogf

opprexnmotày

88%

(:

ec

8)

ec th`s`

mori`ts

ng

244:,

Cet th`

lembng`f

tnm` p`rnef ec2446

te

244:, ng th` hnjh-veaum`

mori`ts

wnth stotnstnloaay snjgncnlogt

effs

rotne fnsporntn`s, th` effs ec

og Ocrnlog-Om`rnlog

berrew`r r`l`nvngj

o subprnm`

whea`soa`

aeog ng o jnv`g yòr w`r` up te

8,< tnm`s os hnjh os ta?` effs cer o snmnarg;ay-sntaaot`f whnt` berrew`r, Vh`r` w`r` ge mori`ts

wnth

stotnstnloaay snjgncnlogt fnspoa'ntn`s coverngj Ocrnlog-Om`rnlm whea`soa` berrew`rs ev`r

shgnaoray-sntuot`f whnt`

beg'ew`rs,

Vh`s` r`suats, wh`g ojjr`jot`f,

ngfneot`

thot gòray 2,<04

Ocrnlm-Om`rnlog

berrew`rs

ng

hnjh

?4m-veaum` mori`ts crem 2446 te 244:

r`l`nv`f

subpa'nm`,

roth`r thog ptnm`, whea`soa`

aeogs crem Z`Kas

Corje b`lous`

ec

th`nr rol`, ?? t

b`lous` ec th`nr ebk`ltnv` er`fnt lhorolt`rnstnls,

60,

Ng 2446,

Hnspognl whea`soa` berrew`rs

hof

stotnstnloaay snjgncnlogt

effs rotne

fnsporntn`s



-

Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` 24 ec <>

sntuot`f whnt` beg'ew`r. Crem

2446

te 244:,

egay

eg`

mori`t hof stotnstnloaay snjgncnlogt

fnsporntn`s coverngj Hnspogne whea`soa` berrew`ns ev`r

snmnaoray-sntuot`f

whnt`

b4??'4w`rs.

Vh`s`

r`suats,

wh`g ojjr`jot`f,

ngfneot` thot gòray ?,304 Hnspognl

berrew`rs

ng th` hnjh aeog-

veaum`

mori`ts crem 2446 te 244: r`l`nv`f

subpa'nm`, roth`r thog prnm`,

whea`soa` aeogs

crem

Zàas

Corje

b`lous`

ec

th`h'

gotnegoa

ea'njng,

get b`lous`

ec

th`nr ebk`ltnv` er`fnt lhorolt`rnstnls.

63. 'VNa`s`

effs rotne

fnsporntn`s mòg, cer `xompa`, thot

cer

th` lembng`f tnm`

p`rnef

ec 2446

te 244:, Zàas Corje

paoe`f (Npprexnmotày

<24

Ocn;!log-Om`rnlog

ogf

Hnspogne

whea`soa`

berrew`rs

naa th`

Aes Ogjà`s

M\O ngte subprhg` aeogs

`v`g

theujh

whnt` berrew`rs ng Aes

Ogjà`s

wnth shgnaor lr`fnt rnsi lhorolt`rnstnls

r`l`nv`f

prnm`

aeogs. Cer

th`

som`

tnm` p`rnef,

Zàas Corje

paol`f

opprexnmotày <<0 Ocrnlog-Om`rnlog ogf

Hnspognl whea`soa` berrew`rs ng

th`

Zoshngjteg, FL M\O ngte subprnm` aeogs `v`g theujh whnt`

berrew`rs ng

Zoshngjteg, FL

wnth

snmnaor

er`fnt

si

ehoroet`fstnls r`l`nv`f prnm` aeogs. \nmnaoray, cer th` som` tnm` p`rnef,

Zàas

Corje

paoe`f

opprexnmotày 6<0 Mrnlog-Om`rnlog

ogf

Hnspognl.whea`soa` berrew`rs ng

th`

Lhnloje

M\O; ngte subprnga` aeogs `v`g theujh whnt` b4??'4w`rs ng

Lhnloje wnth

sntgnaor

er`fnt

lhoroet`rnstnls r`l`nv`f prnga`

aeogs.




4: ?2 ?2

Toj` 2 ec <>

Corje subprnm` aeog eanjngoters

te

paol`

og

oppanlogt

ng o

subp??m`

aeog prefult `v`g

n

th`

oppanlogt l4??af quoanc^ cer

o

prnm`

aeog

ptefult9 (b) prevnf`f

o

cngoglnoa

ngl`gtnv` te Zàas

Corje subprnm` aeog etnjngoters te paol` aeog oppanlogts ng

subprnm` aeog

prefuets9 (l) fnf get

r`qunr`

Zàas Corje subprnm`

aeog

ernjngoters

te kustnc^ er

felum`gt

th`

ròsegs

cer paolnnaj og

oppanlogt ng o subprnm` aeoaaprefult

`v`g

Nc

th`

oppanlogt leuaf quoancy

cer

oprnm`

aeog

prefult9

(f) fnf

aaetr`qunr` Zàas

Corje subprnm` aeog

ernjngoters te getnc^ subpfm` aeog

oppanlogts

wh`g th`y

fnf ng colt

quoancy cer omer`

coveroba` aeog preftalt9 ogf

(`)

ca!na`f te

megnter th`s`

fnslr`tnegory proltnl`s te

`gsur`

thot

beg'ew`rs w`r`

b`ngj

paol`f ng

aeog

prefults eg

o

??4??fnslrnmagotea'^ bosns. Zàas Corje legtngu`f te us`

th`s`

prefglt paol`m`gt, lemp`gsotneg,

ogf fnslr`tnegory ugf`rwrntngj peanln`s ugtna

nt

`xnt`f th` subpram` a`gfngj busng`ss ng 2448.

6>. Zàas

Corje s

peanln`s er proltnl`s nf`gtncn`f

ng

Torojrophs 2<-<8 w`r`

get

kustncn`f by

busng`ss

g`l`ssnty

er

a`jntnmot`

busng`ss ngt`r`sts. Vh`r` w`r` a`ss fnsla'amngotery oat`rgotnv`s

ovonaoba` te Zàas Corje thot weuaf hov` olhn`v`f

th`

som` busng`ss jeoas os th`s` peanln`s ogf

proltnl`s.

04. Os ` NXay

os

2440, Zàas

Corje s

s`gner eccnl`rs hof igewa`fj`

thot

nts

a`gfngj peanln`s



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` ec <>

lhorolt`rnstnls. Geg`thà`ss, Zàas Corje legtngu`f

te

nmpa`m`gt

thes`

peanln`s

ogf

proltnl`s

ogf fnf get toi` `cc`ltnv` oltneg te

lhogj`

th`

fnslrnmngotery

peanln`s

er

proltnl`s te ànmngot`

th`nr fnslrnmngotery nmpolt, Ge!'

fnf nt

olt

te

nf`gtncy

er

lemp`gsot` aa?` ngfnvnfuoa bEN'rew`rs

whe

w`r` vnltnms ec nts fnslrnmngotery prefult paol`m`gt ~ a n n ` s er

proltnl`s,

Zhea`soa` Mertjoj` Brea,à C` s

0?. B`tw`lg2446

aNQf

2448, Zàas Corje lhorj`f mer`

thog

?2,804

Ocrnlog-Om`rnlog

whea`soa`

berrew`rs

hnjh`r

c``s ogf

lests

thog

whnt` berrew`rs, get bos`f eg th`nr

lr`fntwerthng`ss 4? eth`r ebk`ltnv` lrnt`rno ràot`f

te

berrew`r

rnsi, but b`lous` ecth`nr rol`.

\nmnaoray, b`tw``g 2446

ogf

2448, Zàas Corje lhorj`f mer`

thog

?:,?04

Hnspognl whea`soa`

berrew`rs

hnjh`r

c``s

ogf

lests

thog

wnaat`

berrew`rs, get

bos`f

eg th`nr

lr`fntwerthng`ss

er

eth`r ebk`ltnv` lrnt`rno ràot`f te berrew`r

rnsi,

but

b`lous`

ec th`nr gotnegoa ernjng.

Nt

wos

Zàas

Corje s busng`ss proltnl`

te oaaew

nts mertjoj`

brei`rs whe

j`g`rot`f aeog oppanlotnegs

threujh

nts whea`soa` lhoggà

te

vory o aeog s ngt`r st rot`

ogf eth`r c``s

crem th` prnl` s`t bos`f

eg

o

berrew`r s ebk`ltnv` lr`fnt-ràot f colters. Vhns

uojunf`f ogf

subk`ltnv` prnlngj fnslr`tneg

ogf whnt`



- - -


4:??2 ?2

Toj`

<

_c <>

olt

te

f`tà?gng`

th` cuaasllp`

ec

th`s` whea`soa` prnlngj fnsporntn`s, ger fnf'nt prempt

oaaf

`cc`ltnv` oltneg te

àhgngot`

thes` fnsporntn`s. B`tw``g

ot

aòst 2446

oef 2448, Zàas Corje

hof

o

peanly er proltnl` ec

p`rnefnloaay

megnterngj ng o anmnt`f mogg`r

th`

prnlngj ec

whea`soa`

hem`

mertjoj` aeogs cer fnslrnmngotneg bos`f

Ena rol`

er gotnegoa ernjng ot th` jèjrophne mori`t a`và

oef

cer sem` ngfnvnfuoa brei`rs. Hew`v`r, Zàas Corje's megnterngj cer rolnoaoaaf

!ao-tnegoa

ernjng fnsporntn s ng nts whea`soa` aeoes wos ngof`quot`. Oatheujh Zàas Corje's whea`soa`

prnlngj megnterngj `ccerts w`r` ngof`quot`,

th`y

w`r` succnln`!at te put nt eg getnl` ecwnf`spròf

prnengj fnsporntn`s bos`f aa roe`

oef

gotnegoa

ernjng. Zàas

Corje fnf get olt te

f`t`rmng`

th`

cuaa slep` ec

th`s`

whea`soa` prnlngj fnsporntn`s, ger fnf t toi` prempt oef `cc`ltnv` oltnlg te

ànmngot` thes` fnsporntn`s.

0<.

Crem ot

aòst

2446

te 2448, Zàas Corje eanjngot`f oef'

cugf`f

r`snf`gtnoaaeoes ec

oaa

typ`s threujh nts Zhea`soa` A`gfngj Fnvnsneg ("ZAF"). Oppanlotnegs cer

th`s`

aeogs

w`r`

breujht te Zàas Corje

by

mertjoj`

brei`rs

tha'Eujheut th` Pgnt`f \tot`s whe `gt`r`f ngte

legtrolts wnth Zàas Coa'je

cer

th` pm'Tes`

ec

brngjngj aeog

oppanlotnegs

te nt

cer

ernjngotneg

oef

cugfngj9



N

Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4:/?2??2 Toj` 26 ec <>

00

Zàas

Corje s brei`rs

w`r`

r`qunr`f

te

ofh`r`

te

th`

prevnsnegs s`t certh ng nts Zhea`soa`

A`gfngj Brei`r Eanjngotneg Junf`,

ogf

Zàas Corje s legtrolts wnth

brei`rs

r`qunr`f

r`pr`s`gtotnegs ogf worrogtn`s thot

th`y

weuaf eempay wnth oppanloba` c`f`roa, stot`, ogf aeloa

aows ogf a'`juaotnegs, nglaufngj

cona'

a`gfngj r`qunr`m`gts, Zàas Corje

r`qunr`f

nts brei`rs te

ott`st thot

oaa

mertjoj` aeogs submntt`f

legcerm`f

te

th` Bogi s oppanloba` r`qunr`m`gts

ogf

te

oaa ec th` junfàng`s

cer

o portnlgaor

aeog prejrom,

03, Zàas Corje, outhernz`f brei`rs te ngcerm presp`ltnv` berrew`rs ecth` t`rms ogf

legfntnegs

ugf`r

whnlh o

Zàas Corje

r`snf`gtnoa aeog prefult

wos ovonaoba`,

Zàas Corje fnf

get r`qunt` th` mettjoj`

brei`rs te ngcerm

o presp`ltnv` berrew`r ec oaa ovonaoba` aeog prefults

cer whnlh h` er

sh` quoancn`f,

ec th`

aew`st

ngt`r`st

rot`s ogf

c``s cer o sp`lncnl aeog

prefult,

4?'

e

sp`lncnl aeog prefults b`st f`snjg`f te s`rv`

th`

nrat`r`sts `xpr`ss`f

by

th` oppanlogt, Ppeg

r`l`npt ec o lempa`t`f aeog

oppanlotneg

crem obrei`r, Zàas Torje `voauot`f th` prepes`f aeog

usngj nts ugf`rwrntngj jAa fàha`s ogf

f`t`rmng`f wh`th`r

te ernjngot` ogf

cugf

th`

aeog,

0:,

Zàas Corje

wos fnr`ltay

ogf

`xt`gsnvày

ngveav`f

nra s`ttngj th`

lempa`t`,

cngoa

t`rms

ogf

legfntnegs

e whea`soa` aeog oppanlotnegs

j`g`rot`f

by mertjoj` brei`rs thot Zàas Corje



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4: ?2 ?2 Toj` 0 ec <>

thot r`ca`lt`f nts

oss`s\ag`gt

ec ngfnvnfuoa

oppanloaat

lr`fntwerthng`ss,

os

wàa

os

th`

lurr`gt

mori`t

N'ot` ec ngt`r st oaaf prnl` nt

leuaf

ebtong cer th` soa` ec

sulh

o

aeog crem ngv`sters.

0>.

Crem

ot aòst

2446 te

244>,

Zàas

Corje

s`t

t`ggs

ogf legfntnegs,

nglaufngj ngt`r`st !'ot`s,

cer

nts vorneus hem` gaea'tjoj` aeog prefults ovonaoba` threujh nts whea`soa` aeog lhoggà. Zàas

òlh ec th` fncc`r`gt aeog

prefults

nt

ecc`r`f thot r`ca`lt`f oppanloaat lr`fntwerthng`ss. t

lemmugnlot`f

th`s`

aeog prefuet prnl`s te nts brei`rs threujh rot` sh``ts. Zàas Corje

mof`

prnm` rot` sh``ts ovonaoba` te brei`rs eg o fonay bosns vno `mona er th`

"Brei`rs

Cnrst" w`bsnt`

thot

LEaPaPaaa?nlot`f

th` `cc`ltnv`

fot`,

tnm`, ogf prefult prnlngj thot wos ràòs`f wnth o sp`lncnl

prnl`

lhoaaj`.

Vh`

rot`

sh``ts

oase `stobansh`f

prne`

lops thot anmnt`f th` a`và ecbrei`r

lempàa\otneg. Ollerfngj te Zàas Corje s Zhea`soa` Trnlngj Teanly, prnl` lhoaaj`s w`r`

ngntnot f

by Zàas

Corje s Lopntoa Mori`ts

Jreup os

o

r`\?? t

ec rot` mev`m`gts 4?' bytb`

Zhea`soa` Trnlngj Ja'EPT te

ofkust

precnt

`xp`ltotnegs

er oat`r lemp`tntnv` pesntneg.

Zàas Corje

fnstrnbut`f nts

Vrofntnegoa

Gegprnga` rot` sh``ts

Eaal`

o

w`ì.



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` 23 ec <>

weuaf

hov`

oee`pt`f eg

o portnluaor

aeog

ogf

th` ngt`r`st

rot`

o

mertjoj`

brei`r

oetuoaay

ebtong`f

cer

Zàas

Corje. Zàas Corje

b`g`cntt`f cngoglnoaay

crem-th` (eogs t mof`

ot ngt`r`st

rot`s obev` th` por rot`s s`t by

nts a'ot` sh``ts.

Cer

thes` aeogs

thot nt seaf

4?'

s`lurntnz`f, hnjh`r

ngt`r`st rot`s mògt

soa`s ot prnl`s

hnjh`r thog t

ecu`rwns` weuaf

hov` ebtong`f9

cer aeogs

nt

r`tong`f, hnjh`r ngt`r`st rot`s

mògt mer`

ngt`r`st

nglem`

ev`r tnm`. Vh`

s`leg>

woy

brei`rs

-

-

-

-

w`r` lemp`gsot`f wos threujh fnr`lt c``s

ogf

ernjngotneg c``s

ehorj`f te

th`

bEaVew`r.

Zàas

Corje

fnr`lt`f nts laesngj

oj`gts

te poy fnr`lt

c``s

te

brei`rs eut e berrew`rs' cugfs ot th` aeog

laesngj.

Voi`g tej`th`r, th`s` twe

cerms

ec lemp`gsotneg or` r`c`rr`f

te

ng

thns

Lempaongt os

tetoa brei`r c``s.

3?.

Zàas

Corje

hof

wrntt`g

peanln`s

paolngj o l`nangj eg tetoa brei`r

c``s. Crem

2446

. threujh

244>,

th` moxnggug tetoa brei`r

c``

thot o brei`r

leuaf òrg

crem

ernjngotngj o prnm`

Zàas Corje

aeog

wos 6.0% e

tna` tetoa aeog

omeugt.

Crem

2446

threujh

244:, th`

moxnmum

tetoa

brei`r c`` thot o brei`r

leuaf

Kom crem ernjngotngj o subprnm` Zàas

Corje

aeog wos

0.4%

ecth` tetoa aeog omeugt.

Zàas Corje

stepp`f ernjngotngj subprnm` aeogs crem nts whea`soa`

244:. Corje cer



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4: ?2 ?2 Toj` 2: ec <>

3<,

Eth`r thog

th`s`

lops,

Zàas Corje fnf get `stobansh

ogy

ebk`ltnv`

lrnt`rno, er prevnf`

junfàng`s, ngstrultnegs, er prel`fur`s te b`

ceaaew`f

by brei`rs (o)

ng

s`ttngj th` omeugt ec

fnr`lt

c``s

th`y sheuaf lhoK;j`

er

(b) ng f`t`rmngngj

te

lhorj` aa ngt`r`st rot` cer o aeog obev`

thot s`t by nts rot` sh``t, whnlh ng

turg

f`t`rmng`f th` omeugt ec^\T thot Zàas Corje weuaf

UUUUUUU poy th`

brei`!', MEatjoj`

brei`rs `x`rlns`f

thns

p ? n e n g @ f n s L a º ` t n e g t h o t Z ( ) a a s C K P ~ _ U j a a . - , , t h ` ; m ,

ugt`th`r`f te ogy ebk`ltnv` lr`fnt lhorolt`rnstnls, eg `v`ry aeog th`y breujht te

Zàas

Corje cer

ernjhnotneg

ogf cugfngj.

Zàas Corje oc£hm`f er

rotncn`f

th`s` fnslr`tnegory prnlngj

f`lnsnegs

cer oaa th` brei`r`f

aeoM

nt

ernjngot`f

ogf cugf`f.

36,

Crem

2446

te

244>,

Zàas Corje wos cuaay ngcerm`f

ec oaa brei`r c``s te b` lhorj`f

wnth

r`sp`lt te òlh ngfnvnfuoa r`snf`gtnoaaema

oppanlotneg

pr`s`gt`f te

nt.

Zàas Corje oase r`qunr`f

brei`rs te fnslaes`

te

th` bEaVew`r oaa

lemp`gsotneg ogf

oaa eth`r c``s `xp`lt`f te b` r`l`nv`f by

th` brei`r ng lENPa`ltnqg wnth th`

mertjoj`

aeog, Zàas Corje r`qunr`f brei`rs

te

fnslaes` th`nr

c``s eg th`

Jeef

Conth @stnmot`, th` HPF-a,

ogf

eth`r fnslaesur`s os oppanloba`, Vetoa brei`r

c``s rons`f th` ogguoa p`rl`gtoj` rot` lhorj`f eg o aeog, ogf leuaf nglròs` th` get` ngt`r`st rot`



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4: ?2 ?2 Toj` 8 ec <>

N

N

subprnm` aeogs bos`f

eg

beth rol`

(Ocn;nlaaaa-Om`flog) ogf

gotnegoa ernjng

(Hnspogne).

Vh`s`

N

fnsporntn`s `xnst`f beth ot th` gotnegoa

a`và ogf

nggum`reus

jèjrophnl mori`ts olress th`

leugtry.

3:. Mòsur`f

eg o gotnegwnf` bosns ng

òlh yòr

b`tw``g 2446 ogf 2448, Zàas Corje

lhorj`f

O ; c l n ~ O m ` r n l o g

berre ,à's

wh()m

ànaa

Corje

f`t`rmng`f

hof

th`

r ~ n t U

lhorolt`rnstnls te quoancy cer ohem` mertjoj`

aeog merl

ng

tetoa

brei`r c``s cer

prnm`

whea`soa`

aeogs thog whnt` berrew`rs. Vh` oaPmoa tetoa brei`r c`` laasporntn`s rogj`f up te :8

bosns pengts,

ogf th`y

or`

stotnstnloaay snjgncnlogt.

38. Mòsur`f eg ogotnegwnf` bosns g

òlh yòr

b`tw``g 2446 ogf 2448,

Zàas

Corje

lhorj`f Hnspognlberrew`rs whem Zàas

Corje f`t`rmng`f

bof

tna`

lr`fnt lhorolt`rnstnls te

quoancy cer

o hem`

mertjoj`

aeog

mer` ng tetoa

brei`r

c``s

cer prnm`

whea`soa` aeogs

thog

whnt`

berrew`rs. Vh`

ogguoa

tetoa brei`r c`` fnsporntn`s rogj`f up te 00 bosns pengts, ogf-cu`y or`

stotnstnloaay snjgncnlogt.

3>. Mòsur`f eg

o gotnegwnf` bosns ng

òlh yòr b`tw``g 2446 ogf

244:,

Zàas Corje



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj`

2>

ec <>

Om`rnlog berrew`rs, ogf

<4

er mer` sulh aeogs te whnt` b4??'ew`rs

ng o

jnv`g yòr, Zàas Corje

lhm'j`f

Octnlog-Om`rnlma berrew`rs mer` nxn tetoa brei`r

c``s get

bos`f eg berrew`r rnsi cer

whea`soa` prnm`

aeogs thog

whnt` berrew`rs by o stotnstnloaay

snjgncnlmat

ogaEaaaat,

Ng

2440,

opprexnmotày

:>% ec

sulh mori`ts (?>

ec 26)9 ng

2443, opprexnmotày

88% ec

sulh mori`ts

(22

U

ec

20)9

ng 244:, opprexnmotày 86% ec sulh

a a a r i ~ a s

(2?

ec20)9

ogfng2aaan8, ?

EE a NA_Ym,aLh

mori`ts

(?> ec ?>)

'shew`f

stotnstnloaay

snjgncnlogt

tetoa brei`r

c``

fnsporntn s fnscoverngj

Ocrnlog-Om`rnlog prnm` whea`soa` berrew`rs, Vh` fnsporntn`s ng tetoa brei`r c``s

get

bos`f eg

berrew`r rnsi r`suat`f

ng Ocrnlog-Om`rnlma berrew`rs

ng

th`s` mori`ts poyngj

up te

?22

bosns

pengts mer` thog whnt` berrew`rs

cer

prnm` whea`soa` aeogs ng

o

jnv`g

yòr,

Ng

oaa cnv` yòrs,

th`r` w`r`

??4

hnjh

m a ~ v e a u m `

mori`ts ng

whnlh Zàas Corje lhorj`f whnt` berrew`rs

stotnstnloaay snjgncnlogtay hnjh`r tetoa brei`r c``s cer prnm` whea`soa` aeogs thog Ocrnlog-

Om`rnlog

berrew`rs

ng

o jnv`g y`m.. Vh`s` r`suats, wh`g

ojjr`jot`f,

ngfnlot`

thot Zàas

Corje

lhorj`f mer` thma :,334 ngfnvnfuoaay nf`gtncnoba`

O;cn;nlma-Om`rnloaa

berrew`rs ng th` hnjh aeog

veha???` mori`ts crem

2446

te

2448

hnjh`r prnl`s ecvmyngj ogaeugts thog whnt` berrew`rs

cer




4: ?2 ?2

Toj` < ec <>

opprexnmotày

8>%

ec

sulh mori`ts

(<<

ec

<:)9 ogf

ng

2448,

opprexnmotày

>2%

ecsulh mori`ts

(22

ec26)

shew`f

stotnstneoaay snjgncnlogt

tetoa brei`r c``

fnspoftn`s fnscovefgj

Hnspogne

prnm`

whea`soa` berrew`rs, ga fnsporntn`s ng tetoa brei`r c``s get bos`f eg berrew`r rnsi r`suat`f ng

Hnspognl bEaVEw`rs ng th`s` mori`ts poyngj up te >> bosns pengts mer` thog whnt` berrew`rs cer

U

wa?4?`soa`

aeogs

naa

o jnv`g ), or.kK?

oaa

c n v ` U y ~ o r s ,

th`r`

, - ` r ` ' a ? ~

h n j a a a e o a ? - v e a u ~ ` a ? ? o r i ` t s

naa whnlh Zàas

CNaa'je lhorj`f

whnt` berrew`rs stotnstnloaay snjgncnlogtay hnjh`r tetoa brei`r c``s

cet'

prnm` whea`soa` aeogs thog Hnspognl berrew`rs ng o jnv`g yòr. Vh`s` r`suats,

wh`g

ojjr`jot`f,

ngfnlot` thot

Zàas

Corje

lhorj`f mer`

thog ?:,?04 ngfnvnfuoaay nf`gtncnoba`

Hnspogne berrew`rs

ng th`

hnjh aeog-veaum` mori`ts

crem 2446 te 2448 hnjh`r

prnl`s

ecvaaa'yngj

omeugts thog whnt` beg'ew`rs cer th`nr prnm` whea`soa`

aeogs, get bos`f eg

th`nr

lr`fntwerthng`ss

er eth`r

ebk`ltnv`

lrnt`rno

ràot`f te

berrew`r

rnsi,

but b`lous` ec th`nr gotnegoa

efjng,

:2. g opprexnmotày >? %

ec

nts hn&h subprnm`-Neog-veaum` mori`ts ng 2446 (?4 ec??),

f`cng`f cer

purpes`s ec thns porojroph os thes` M\Os Naaaf geg-M\O oròs ng

òlh

stot` whel`




4: ?2 ?2

Toj` < ec <>

jnv`g

yòr.

Ng

oaa

c4???'

yòrs,

th`r` w`r`

ge

hnjh

subprnm`-Ne!aaa-Sehaau`

mori`ts

ng

whnlh

Zàas

Corje lhorj`f

whnt` berrew`rs

stotnstnloaay

snjgncnlogtay

hnjh`r tetoa brei`r

c``s cer

subprhu`

whea`soa` aeogs thog Ocrnlog-Om`rnlog berrew`rs ng o jnv`g

yòr.

Vh`s` r`suats, wh`g

ojjr`jot`f, ngfnlot` thot Zàas Corje lhorj`f opprexnmotày

0,?>4

hafnvnfuoaay nf`gtncnoba`

U l ~ U l = U O c r a l o g O m ` ~ ? . l o g

berrew`rs

n ~ t

hnjh

s ? . ? b p r n a ? ? ` a e @ a a ? ~ ~ e a a ? m `

gn,ori`ts

crem

2446?4

244:

hnjh`r prnl`s ecvo;ryngj

om4???ats

thog whnt` berrew`rs cer th`nr subprna??` whea`soa` aeogs, get

bos`f eg th`nr lr`fntwerthng`ss

er

eth`r ebk`ltnv` lrnt`rno ràot`f

te

berrew`r rnsi, but b`lous` ec

.

th`nr

rol`. .

:<.

Vh`s`

fnsporntn`s aa tetoa brei`r c``s mòg, cer `xompa`, thoc ng 244:,

Zàas

Corje

lhorj`f th` ov`roj` prnm` whea`soa lustem`r bEanewngj $<44,444 obeut 2,436 mer` aa brei`r

c``s

get bos`f eg berrew`rrnsi n sh`

w`r` Ocrnlog-Om`rnlog,

ogf oaa ov`roj`

e

obeut

$?,20? n

sh`

w`r`

Hnspoaanl, thog

th`

ov`roj` om4???at lhorj`f te o

whnt`

prnm`

whea`soa`

lustem`r.

Ng

sp`lncnl M\Os, th`s` fnsporntn`s ng tetoa brei`r c``s mòg thot aa 244: Zàas Corje lhorj`f o

prnm` whea`soa` lustem`r aa th` Lhnloje M\O

berrewaaaj $<44,444

eg

ov`roj` obea?t $2,><:



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` <2

ec >

lhorj`f

te

o

whnt`

subpa'nm`

whea`soa` lustem`r.

Ng

sp`lncnl

M\Os,

th`s` fnspruntn`s mòg

thot ng

2440,

Zàas

Corje

lhorj`f

og

Ocn'neog-Om`flog

subpa'nm`

whea`soa` lPaatem`r ng

th`

Aes

Ogjà`s M\O berrewngj <44,444 eg ov`roj` obet?t ?,>>2

mer`

ng tetoa brei`r c``s get bos`f

4?? berrew`r rnsi thog th` ov`roj` omet??tt lhorj`f te o

whnt`

stabpa'nm` whea`soa`

laastem`r

ng AEs

a a j ` a ` s

Ng

2440

Zàas

Corje

lhorj`f

~ O n ' n l o g - ~ ` r n l o g

subpa'am`

w h e a ~ B o a `

L a a s t e ~ ` r

ng

th`

Heusteg M\O berrewngj <44,444 eg ov`roj` obeut ?,424 mer` ng tetoa brei`r c``s get bos`f

eg berrew`r rnsi thog th` ov`roj` omeugt

Zàas

Corje lhorj`f te o whnt` subprnm` whea`soa`

lustem`r

ng Hetasteg berrewngj th` som`

omeugt

.

.

:0. Ng

s`ttngj

th`

t`rms ogf legfntnegs

cer

nts whea`soa` aeogs, nglaufngj ngt`r`st

rot`s,

Zàas

Corje olleugt`f cur ngfnvnfuoa berrew`rs' fncc`r.`gl`s ng lr`fnt rnsi lhorolt`rnstnls by s`ttngj th`

prnl`s

shewg eg nts rot` sh``ts

cer

òlh

aeog prefult cer

berrew`rs wnth

sp`lncn`f

lr`fnt

quoancnlotnegs. Vh`s` ofkustm`gts

bos`f

eg lr`fnt

rasi

lhoroetà'nstnls w`r` s`porot`

crem ogf

fnf

get legtrea

cer

`nth`r lempeg`gt ec th` tetoa

brei`r c``s

-

th`

ngt`r`st rot` f`vnotnegs thot

Zàas

Corje's peanly oaaew`f mertjoj` brei`rs te moi` ca'em th` por prnl`s, whnlh oaròfy cuaay

N



Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4: ?2 ?2 Toj` << ec <>

eg

bEateZ`r

rnsi ng th` t`rms

ogf

legfntnegs ecaeogs thot Zàas

Corje

ernjngot`f oct`r por rot`s

hof b``g

`stobansh`f

by

r`c`r`gl`

te lr`fnt rnsi lhorolt`rnstnls9 (b) lròt`f o cngoglnoaagl`gtnv` cer

brei`rs te lhorj`

ngt`r`st

rot`s obev`

th`

porrot`s thot Zàas Corje hof s`t9

(l)

fnf get

r`qunr`

mertjoj` brei`rs te kustncy er

felum`gt

th` ròsegs

cer

th`

omeugt

ec brei r c``s ?? t bos`f eg

~ ) e r a E w ` r r n s i 9

ogf

(f)

cona`f

te

~ u t ` a y

megnter

c1K?

ogf

cuaay

a'Ùm.'alayKh`

`cc`lts

ecraa.Lnoa

ogf

`thml fnsporntn`s ng thes` brei`r c``s. Brei`r c``s sp`lncnloaay m`matar` th` prnlngj vornotneg

lous`f

by th` subk`ltnv` ogf ugjunf`f prnlngj ofkustm`gts get bos`f eg berrew`r

rnsi.

Zàas

Corje legtngu`f te

us`

th`s` fnslr`tnegory

whea`soa`

brei`r

c``

prnlngj peanln`s, te ngof`quotày

feeum`gt ogf r`vn`w th` nmpa`m`gtotneg ec

thot prnlngj lempeg`gt,

ogf te ngl`gtnvnz`

upworf

brei`r ofkustm`gts te th`

por

ngt`r`st rot` ot aòst

threujh

th` `gf ec 2448.

::. Zàas Corje s peanln`s

ogf

proltnl`s nf`gtncn`f ng Torojrophs 0?-30 w`r` getkaastncn`f by

busng`ss g`l`ssnty

er a`jntnmot` busng`ss

ngt`r`sts. Vh`r` w`r` a`ss fnslrnmngotery

oat`motnv`s

ovonaoba`

te Zàas

Corje thot weuaf hov` olhn`v`f

th`

som`

busng`ss

jeoas

os th`s`

peanln`s ogf

proltnl`s.




4: ?2??2

Toj` 6 ec >

C m

HEP\NGJ OLV

OGF

@_POA LR@FNV ETTERVPGNV^ OLV SNEAOVNEG\

:>.

Zàas Corje s r`snf`gtnoaa`gfngj-a aot`f peanln s ogf proltnl`s ogf

th`

peanln`s

ogf

proltnl`s nt ceaaew`f naa r`snf`gtnoa lt'`fnt trogsoltnegs os oaa`j`f h`?'`ng legstntut`;

o.

Fnslrnmngotneg eg th` bosns ecrol` ogf gotnegoa ernjng ng moafgj ovonaoba`, er ng

th` t`rms er legfntnegs

ec,

r`snf`gtnoa

ròa

`stot`-ràot`f trogsoltnegs, ng vneaotneg

ec

th`

CHO,

62

P.\.L.

§

<340(o)9

b.

Fnslrnmngotneg eg th` bosns

ec

rol`

ogf

gotnegoa ernjng ng

th`

t`rms, legfntnegs, er

prnvna`j`s ec soa` ec o fwàangj, ng vneaotneg ec th` CHO, 62

P.\.L.

§ <346(b)9 ogf

l. Fnsernmngotneg ojongst oppanlogts wnth r`spèt

te

lr`fnt trogsoltnegs, EK th` bosns

ec rol ogf gotnegoa ernjng, naa vneaotneg ec@LEO, ?0 P.\.L. § ?3>?(o)(N).

84. Zàas Corje s a snf`gtnoaa`gfagj-ràot`f peanln`s ogf proltnl`s s oaa`j`f h`r`ng

legstntut`;

o. O pott`rg er proltnl` ec r`snstogl`

te

th` cuaa `gkeym`gt

ec

rnjhts s`lur f by th`

CHO,

os

om`gf`f, 62 P.\.L. §§ <34?-<3?>, ogf @LEO,

?0

P.\.L. §§ ?3>?-?3>?c9

ogf



Los` ?;?2-lv-4??04 Felum`gt ? Cna`f 4: ?2??2 Toj` <0 ec <>

82.

Zàas Torje's peanln`s ogf proltnl`s,

os

f`slrnb`f h`r`ng, hof tna` purpes` ogf tna` `cc`lt

ec fnslrnmngotngj eg tna` bosns

e

roe` 4? gotnegoa ernjng. Vh`s` peanln`s ogf proltnl`s w`r`

ngt`gtnegoa,

wnaacua,'

er nmpa`m`gt`f wncu r`laf`ss fnsr`jorf

cer

tna` rnjhts ecO;crnlog-Om`rneog

ogf Hnspognlberrew`rs.

R a)AmC

R@Em \V@F

.

ZH@R@CER@,

tna`

Prrnt`f

\tot`s

proys

cuot cu` Leaart `gt`r og ERF@R

thot;

?) F`laor`s

cuot

Zàas

Coa'je's lhoaa`gj`f a`gfngj peanln`s ogf proltnl`s legstntut`

vneaotnegs e th` Conr Heusngj

Olt,

62 P.\.L. §§ <34?º<3?>, ogf th`

@quoa

Lr`fnt

Epperttarrnty

N

.

,

Olt,

?0

P.\.L.

§§

?3>?-?3>?c9

(2)

@gkengs Zàas Corje, nts oj`gts,

`mpaey``s,

oaaf sull`ssers, ogf oaa eth`r p`rsegs

ng

oltnv`

legl`rt er portnlnpotneg

wnth

th` Bo;a??l crem;

(o)

Fnsmnmngotngj eg

cu`

bosns ecrol` ogf gotnegoa Ea'njha

ojongst

ogy p`rseg

ng ogy ospèt ec nts a`gfngj busng`ss proltnl`s9

(b) Fnslrnmngotngj eg cuo

bosns

ecrol`

ogf

gotnegoa ernjng ng th` t`rms,




4: ?2 ?2

Toj` <3 ec <>

(`)

Conangj ea'r`caasngj

te

toi`

sulh oltnegs os moy b`

g`l`ssory

te pr`v`gt ah`

r`lua'r`g`` ecogy sa ?lh fnsla'nmngotery legfult Ng th` cutur` ogf

te

àNmngot`,

te

th` `xt`gt prgltneeea`, th` `ccèts

ecZàas

Corje s ugaowcua

proltnl`s.

(<)

Oworfs

meg`tory fomaaj`s,

ngeaufngj ptmntnw fomoj`s, te oaa

vnetngas

ecZàas

Coa'je'sfnsernmngotea'^

peanen`s

ogfproetne`scea'th`ngka??n`secatw`f-by ah` Bogi,aaa.?rsuogt

te 6

.

P.\.L.

§

<3?6(f)(N)(B)

onaf ?0 P.\.L. §

?3>?`(h)9

(6) R`qun'a'`s

poym`gt

ecpgrkufjm`gt

ngt`r`st

eg meg`tot'^ faPPoj`s

te oaa

ec th`

vnltnms ec Zàas Cattje's fnsernmngotery peanln`s ogf proltne`s

stortngj

crem th` fot` thot th`

fnsl?'amagotneg

E(a(aP9ta f9

ogf

(0)

Oss`ss`s o

lavna

p`goaty ojongst

Zàas

Corje

ng

og oaaaeugt

outhernz`f

by 62

P.\.L,

§ <3?6(f)(N)(L). ng

erfà'te

vngfnlot` th` Y?? ?bane ngt`r`st.

F@MOGF CEaa .aPR^VRNOA

Taongtncc,

Pgnt`f

\tot`s ec Om`rnlo, f`motafs ?? tfoa by Kury 4)? oaa

nssu`s

se

trnoba`

ng tags

N

N

mott`r.



~ H ~

;B; >26>2

Oltngj Lhn`c,

Lnvna Fnvnsneg

RM JP

. Bor # 6323:

Ossnstogt Pgnt`f

\tot`s

Otterg`y

000 Ceua'nan

\tr``t,

GZ

Zoshngjteg, FL

240<4

Theg`; (242) 3?3-?:3?

Cox;

(242)

0?6º8:84

Kovn`r.JumgRg2Dusfek.jev

V@S@G

H. RE\@GBOPM

F.L. Bor #

6?:080

Lhn`r

Heusngj ogf Lnvna @gcerl`PK.`gt \`ltneg

Lnvna Rnjhts

Fnvnsneg

frnS

B@VH

TORR

H@LI@R

Vrno;

Otterg`y

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Vrnoa Ott `y

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Bor # 6>8<0:

Vrnoa Otterg`y

Los` ?;?2 lv 4??04 Felum`gt ? Cna`f 4:/?2/?2 Toj` : ec >

na`f 4:??2 ?2

mailto:[email protected]

mailto:[email protected]



Lo\` ?;?2 lv 4??04 Felum`gt Toj` <8 ec <>

VV LHM@GV

Kurnsfnltnegs Znth Zhea`soa` Ojjrn`v`f

T`rsegs

(<3 \tot`s ogf

th` Enstrnlt ec

Leaumbno)

~



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United States of America v Wells Fargo Bank, N.A. Re: Complaint for Violations of the Federal Fair...

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