Consumer complaint received 2023-05-31
Company: WELLS FARGO & COMPANY
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Ill make this complaint as Simple and Brief as possible and see if Wells Fargo will give specific truthful answers. The complaint deals with Wells Fargo in XXXX and has nothing to do with SLS who became servicer in XX/XX/XXXX. 

Three ( 3 ) simple Question I am going to ask that were NEVER DIRECTLY ANSWERED, and one ( 1 ) new one from my XXXX complaint that was NEVER ANSWERED as well by Wells Fargo. So, an response by Wells Fargo again that they previously answered is not acceptable. If you previously answered, please cut and paste from your previously answered.

By directly answering the Simple 4 questions laid out here we can stop further Complaints. Once again, if Wells Fargo thinks they previously answered please cut and paste them to the simple 4 questions here. 

QUESTION # XXXX Your denial in XX/XX/XXXX of my first modification application said my monthly income was greater than 42 %. Your own NPV document shows and proves I was at 30 % and within HAMP Guidelines. Please document for me ( which you have never done and ignored previous request ) per CPLR 3408 ( e ) and CFR 1024.41 ( d ) ( 2 ), how my income was at 42 % based on your NPV Document? In addition, my 2nd Application I had a substantial increase in income putting me at about 26-28 % of HAMP and got denied again XXXX XXXX. Wells Fargo gave a disingenuous excuse about the Investors restrictions. I also have documentation between Wells Fargos Modification Specialist ( attorney ) and my attorney where Wells Fargos Modification Specialist asked Wells Fargo to reconsider the denial but he also got denied. If I didnt qualify under HAMP why did Wells Fargos Modification Specialist ask them to reconsider my modification application? Hes a MODIFICATION SPECIALIST!! He knows I qualified.

In my 1st and 2nd HAMP Application, WELLS FARGO is in violation of HAMP Section 7.0 Net Present Value ( NPV ) Testing All loans that meet HAMP eligibility criteria. ( 1 ) Using the standard modification waterfall, THE RESULTS IS DEEMED POSITIVE AND THE SERVICER MUST ( MUST ) OFFER A MODIFICATION.

WELLS FARGO is in violation of CPLR 3408 ( e ) IF A LENDER HAS DENIED THE APPLICATION, THE FOLLOWING IS REQUIRED ( REQUIRED ) : XXXX ). DENIAL LETTER GIVING THE DATA INPUT FIELDS AND VALUES USED IN THE EVALUATION. 

WELLS FARGO is in violation of CFR 1024.41 ( d ) ( 2 ) - Loss Mitigation Procedures- ( d ) Denial of loan modification options : 2 ) NET PRESENT VALUE CALCULATIION ( NPV ). If a trial or permanent loan modification is denied because of a net present value calculation, THE SPECIFIC REASONS IN THE NOTICE PROVIDED TO THE BORROWER MUST INCLUDE THE INPUTS USED IN THE NET PRESENT VALUE ( NPV ) CALCULATUION.

QUESTION # 2 Asking Wells Fargo again for a third time and never previously answered, for a copy of the waiver per HAMP Section 1.3 that a servicer Must ask the investor for. The Waiver is not confidential information and as per the court of Appeals you need to provide it. I have continually asked Wells Fargo for the wavier letter they sent to Investor, but Wells Fargo has failed to provide one. In Violation of HAMP Section 1.3 and in Violation of the THE XXXX XXXX XXXX XXXX XXXX WELLS FARGO BANK , N.A . ; XXXX BANK XXXX, XXXX. as Trustee for XXXX Bank ( below ). 

WELLS FARGO is in violation of - HAMP Section XXXX ( " Investor Solicitation '' ) provides in pertinent part : the servicer must contact the investor in writing at least once, encouraging the investor to permit modifications and other assistance available under the extended and expanded XXXX programs WELLS FARGO is in violation of - THE XXXX XXXX XXXX XXXX XXXX WELLS FARGO BANK , N.A . ; XXXX BANK XXXX, XXXX. as Trustee for XXXX Bank XXXX XXXX Mortgage XXXX XXXX XXXX from XXXX XXXX. See, Making Home Affordable Program, Handbook for Servicers of Non-GSE Mortgages, version XXXX, XXXX XXXX, XXXX at XXXX ( XX/XX/XXXX ). FAILING TO PROVIDE A WAIVER OF THE INVESTOR RESTRICTIONS DEMOSTRATES A FAILURE TO FOLLOW HAMP GUIDELINES WHICH CONSTITUTE A FAILURE TO NEGOIATE IN GOOD FAITH PRUSUANT TO CPLR 3408 ( f ). 

QUESTION # XXXX - Simple question, why did Wells Fargo complete a NPV Document and give it to my attorney if your " investor does not participate ''? Filling out a NPV document if an investor has restrictions on modifications is a violation of HAMP Section 6.5 and the APPELLATE DIVISION, SECOND DEPARTMENT, NEW YORK XXXX XXXX  XXXX. Ass'n v. XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX. 

HAMP Section 6.5, If as Wells Fargo Claims, investor does not participate in program why did Wells Fargo perform an NPV? WELLS FARGO is in violation of HAMP Section 6.5- If the SERVICER IS SUBJECT TO RESTRICTIONS THAT MAKE IT UNFEASIBLE TO COMPLETE THE MODIFICATION waterfall steps, the SERVICER SHOULD IDENTIFY THIS PRIOR ( PRIOR ) TO PREFORMING THE NPV EVALUATION and NOT PREFORM AN NPV EVALUATION. 

WELLS FARGO is in violation of APPELLATE DIVISION, SECOND DEPARTMENT, NEW YORK XXXX XXXX XXXX. Ass'n v. XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX. If the servicer is subject to restrictions that make it unfeasible to complete the modification waterfall steps, the servicer should identify this PRIOR TO PERFORMING THE XXXX XXXX and NOT PERFORM an NPV evaluation. 

QUESTION # XXXX- I added in this complaint dated XX/XX/XXXX, and was ignored and not answered by Wells Fargo. In my XXXX XXXX application got denied in XX/XX/XXXX, Wells Fargo stated the reason was the investor does not offer modifications. I obtained Wells Fargos Investors PSA and Servicing Agreement, where the PSA directly says The MASTER SERVICER OR THE SPECIAL SERVICER WILL BE PERMITTED, TO MODIFY WAIVE OR AMEND ANY TERMS OF SUCH MORTGAGE LOAN? 

Asking Wells Fargo, why did you deny me my HAMP modification based on INVESTOR DOES NOT offer modifications when your investor clearly does allow modification? 

The above # 4, in the investors PSA proves Wells Fargo was allowed to provide a modification but they Lied in saying the investor does not participate. With me qualifying under the HAMP guidelines, Wells Fargo is again in Violation of HAMP Section 7.0 Pursuant to CPLR 3408 WELLS FARGO did NOT Negotiate a Mortgage Modification in Good Faith.

In Conclusion ; WELLS FARGO is in violation of -7.0 Net Present Value ( NPV ) Testing All loans that meet HAMP eligibility criteria. ( 1 ) Using the standard modification waterfall, THE RESULTS IS DEEMED POSITIVE AND THE SERVICER MUST ( MUST ) OFFER A MODIFICATION. My XXXX & XXXX Hamp Application per XXXXells Fargos NPV Document shows both are HAMP Net Positive.

WELLS FARGO is in violation of - CPLR 3408 ( e ) IF A LENDER HAS DENIED THE APPLICATION, THE FOLLOWING IS REQUIRED ( REQUIRED ) : 1 ). DENIAL LETTER GIVING THE DATA INPUT FIELDS AND VALUES USED IN THE EVALUATION. Wells Fargo has never provided.

WELLS FARGO is in violation of - CFR 1024.41 ( d ) ( 2 ) - Loss Mitigation Procedures- ( d ) Denial of loan modification options : 2 ) NET PRESENT VALUE CALCULATIION ( NPV ). If a trial or permanent loan modification is denied because of a net present value calculation, THE SPECIFIC REASONS IN THE NOTICE PROVIDED TO THE BORROWER MUST INCLUDE THE INPUTS USED IN THE NET PRESENT VALUE ( NPV ) CALCULATUION. Wells Fargo has never provided.

WELLS FARGO is in violation of - HAMP Section 1.3 ( " Investor Solicitation '' ) provides in pertinent part : the servicer must contact the investor in writing at least once, encouraging the investor to permit modifications and other assistance available under the extended and expanded MHA programs. Wells Fargo has never provided one to me even with multiple requests.

WELLS FARGO is in violation of - HAMP Section 6.5 - If the SERVICER IS SUBJECT TO RESTRICTIONS THAT MAKE IT UNFEASIBLE TO COMPLETE THE MODIFICATION waterfall steps, the SERVICER SHOULD IDENTIFY THIS PRIOR ( PRIOR ) TO PREFORMING THE NPV EVALUATION and NOT PREFORM AN NPV EVALUATION. Wells Fargo claimed Investor had restrictions, yet Wells Fargo still did the NPV Document and provided to my attorney.

WELLS FARGO is in violation of - APPELLATE DIVISION, XXXX DEPARTMENT, NEW YORK XXXXXXXX XXXX XXXX. Ass'n v. XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX. If the servicer is subject to restrictions that make it unfeasible to complete the modification waterfall steps, the servicer should identify this PRIOR TO PERFORMING THE NPV EVAUATION and NOT PERFORM an NPV evaluation. Wells Fargo in addition to being in Violation of HAMP Section 6.5 is in Violation of the APPELLATE DIVISION, SECOND DEPARTMENT, NEW YORK. 

WELLS FARGO is in violation of - THE XXXX XXXX XXXX XXXX XXXX WELLS FARGO BANK , N.A . ; XXXX XXXX XXXXXXXX, XXXX. as Trustee for XXXX Bank XXXX XXXX Mortgage XXXX XXXX XXXX from XXXX XXXX. See, Making Home Affordable Program, Handbook for Servicers of Non-GSE Mortgages, version XXXX, XXXX XXXX, XXXX at XXXX ( XX/XX/XXXX ). FAILING TO PROVIDE A WAIVER OF THE INVESTOR RESTRICTIONS DEMOSTRATES A FAILURE TO FOLLOW HAMP GUIDELINES WHICH CONSTITUTE A FAILURE TO NEGOIATE IN GOOD FAITH PRUSUANT TO CPLR 3408 ( f ). Wells Fargo has not provided on numerous requests for the waiver they sent to the investor. As Per THE XXXX XXXX XXXX Wells Fargo Failure to Negotiate in Good Faith Pursuant To XXXX XXXX ( f ). 

WELLS FARGO is in violation of XXXX XXXX - WELLS FARGO did NOT Negotiate a Mortgage Modification in Good Faith as Per HAMP Guidelines and specifically Section 1.3, 6.5 & 7.0, CFR 1024.41 ( d ) ( 2 ), CPLR 3408 ( e ) & ( f ), APPELLATE DIVISION, XXXX DEPARTMENT, NEW YORK and THE XXXX XXXX XXXX.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation