Consumer complaint received 2019-04-12
Company: WELLS FARGO & COMPANY
State: MI
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I lost my job in mid-XX/XX/XXXX.  I was able to make my regular mortgage payment in XX/XX/XXXX and then informed Wells Fargo that I had lost my job but would be starting a new job in XX/XX/XXXX. I requested a forbearance for the months of XX/XX/XXXX & XX/XX/XXXX,  and to go back to making regular payments in XX/XX/XXXX. Wells Fargo approved my forbearance ; I was required to make a {$25.00} payment for the request, which I did. 

On XX/XX/XXXX, WF contacted me asking me for documents for my XX/XX/XXXX forbearance, including my first pay stub which would be available to me on XX/XX/XXXX and I sent it on that date. I again told them I would be on track to start making payments on XX/XX/XXXX as promised. 

On XX/XX/XXXX, I reached out to WF because they had not replied to me and I was confused on why I needed another review if I could go back to making normal payments. 

On XX/XX/XXXX, WF contacted me and stated if I could not make my loan current that I would need another review and requested I send the documents, which at this point I had already sent them. This was my first red flag ; I assumed I was on forbearance, that I would just have my loan extended for the time of forbearance, and I would go back to normal payments. I informed them I did not have the funds to bring the loan current, nor was that communicated as the expectation. 

On XX/XX/XXXX, I was again asked for documents and on XX/XX/XXXX replied I had already provided these documents. 

On XX/XX/XXXX ( a Friday ), WF contacted me after the work day and stated they had the documents but needed a wet signature vs a digital signature. I sent this back to them the first chance I could on Monday, XX/XX/XXXX. 

On XX/XX/XXXX, since I did not have a response from WF on payments going forward, I made a payment for my normal mortgage payment. 

Sometime between XX/XX/XXXX-XX/XX/XXXX, I was called by WF : " Congratulations, your loan repayment plan has been approved! You need to make a ( 1.5x normal payment ) per month for the next 6 months starting on XX/XX/XXXX ''. Although I was confused, because the entire time I thought I was just being forgiven for the two months, I shrugged because a ) I could afford it, 2 ) I wouldn't need to extend my loan length, & 3 ) it did not affect my credit, my most important concern through all of this. 

I made payments on XX/XX/XXXX & XX/XX/XXXX as required per the plan. I pulled up my credit report on XX/XX/XXXX & it showed I was late on payment 30-60 days in XX/XX/XXXX. I reached out to WF, who stated they had no control over how the credit bureau reported this, which is a partial truth because they control how it's reported. 

I contacted them again today on XX/XX/XXXX. WF stated they reported it as a late payment because I had not given them documents until XX/XX/XXXX, they needed them by XX/XX/XXXX, and was only approved for forbearance through XX/XX/XXXX. 

As you can see from above this argument makes no sense. I had given them the documents they asked for prior to XX/XX/XXXX but their lack of communication or explanation of why they needed the documents prevented this, not to mention they never mentioned they needed them by XX/XX/XXXX or it would negatively effect me. Furthermore, they were deceptive in their use of " forbearance '', not mentioning I would need to bring my account current.

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