GREGORY MARTIN WODARK is currently employed as a Broker and/or Investment Adviser at WELLS FARGO CLEARING SERVICES, LLC located at 19800 MACARTHUR BLVD STE 1400, IRVINE, CA, 92612.
GREGORY MARTIN WODARK has worked at WELLS FARGO CLEARING SERVICES, LLC since March 28, 2013
GREGORY MARTIN WODARK has 2 Disclosure Event(s).
Date: October 30, 2012 Category: Financial Type: Compromise Disposition: Discharged Broker Comment: I took out a line of credit (second mortgage), for $100,000 on 01/17/2006.The payments were interest only at a variable rate of 10.25%. I paid on the loan for several years. In 2009, I negotiated a lower rate for a two year period. This was granted due to the market hardships that impacted business along with personal hardships. The fact that they received government funds for this purpose, probably also played a role. Somewhere after the end of the two year period, I requested that they extend the lower rate. This was in 2012. They stated they could not do that, unless I was not current on my payments. They actually suggested I not pay my payments for several months, and then call back. If I did that,they said I would qualify for a lower rate! So, I stopped paying foer several months. To my complete surprise, I received a letter from the Bank forgiving the entire debt. Since, I had not requested this action, I surmise that they wanted to get this loan off their books ( since, the real estate securing it was way under water). They had the government funds earmarked for debt relief, so, they probably used those monies to clean up their balance sheet. They were also taking a lot of heat in the press for past lending practices. That is the likely rationale for such an unusual offer.
Date: November 16, 2011 Category: Customer Dispute Allegations: CUSTOMER CLAIMS HIS INVESTMENTS ARE UNSUITABLE GIVEN HIS AGE. REQUESTS HIS ACCOUNT BE LIQUIDATED AND A CHECK FOR THE PROCEEDS ISSUED.
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