Recently, Wells Fargo (WFC : 28.26, 0.18) in particular launched a major publicity campaign to help homeowners in foreclosures. The campaign was designed to present that Wells Fargo is committed to stopping foreclosures and working with distressed homeowners. Running sweet television commercials and Internet advertisements.

For those working on the inside with distressed homeowners who are desperately trying to workout loan modifications we know that this perception is not true. Actually, most of the homeowners were put in bad loans designed to fail in the first place. When it comes to mortgage securitization the more loan defaults the greater the profits for the mortgage lenders.

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