Consumer complaint received 2018-01-17
Company: WELLS FARGO & COMPANY
State: IL
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Closing on a mortgage

Complaint:
Re : XXXX XXXX fraudulent sale of property ; forgery, deceit and fraud with property Title Insurance. 

I am writing this complaint regarding the sale of the property in XXXX, Illinois where I am a BUYER who paid CASH in full amount of the sale price, so here is no mortgage on this property. 

The Seller and purported owner was XXXX XXXX XXXX. as Trustee for XXXX Mortgage XXXX XXXX XXXX ( XXXX ), who claimed to be duly authorized to transact business in Illinois. XXXX XXXX prepared a Special Warranty Deed on behalf of XXXX Board of Directors or Trustees. Based on my review of Court records, XXXX XXXX sold me a fraudulent foreclosure based on forged documents prepared by fake " authorities ; and likely defrauded me from a Title Insurance on this property. 

XXXX XXXX responded to me with a deceptive letter prepared by XXXX XXXX XXXX who stated that ( 1 ) XXXX XXXX was merely a Trustee for the Trust that owned the mortgage and the Note for this property ; ( 2 ) my correspondence does not form any contract or agreement ; ( 3 ) my account is governed by terms of MY LOAN and Trust governing documents ; and ( 4 ) and my contractual obligation to repay the balance owed (??? ). Ex. 1. This is absurd. 

First, as stated above, I paid CASH for this property in the full amount of the sale price, so here are NO loan which I am obligated to repay. The only party who have contractual obligations to is XXXX XXXX, the seller and purported owner of this property who must provide me a clean and reliable Title, which they failed. 

Second, XXXX XXXX words that my correspondence does not form any contract or agreement are blatant lies. As stated above, XXXX XXXX, the seller and owner of the property, prepared me a Special Warantee Deed for this property where they specifically indicated that XXXX XXXX entered in a contract with me to sell this unit. So, XXXX XXXX obviously does have contractual obligations. 

But when on or about XX/XX/XXXX I mailed XXXX XXXX a direct letter asking for verification of its status as Trustee ; legitimacy of XXXX XXXX and their ability to accept securities ( mortgages and Notes ) into this Trust 6 years after its closing day ( worth to mention, the Assignment only transferred the mortgage, not the Note ) ; copy of the original Note with full chain of Assignment ; contact information for Trust Board of Directors ; and validity of the Deed. XXXX XXXX failed to provide me requested documents. 

Based on SEC and IRS records XXXX Mortgage XXXX XXXX XXXX does not have any filings ; and very likely was never formed as a Trust at all. In other words, this Trust is a fake and not existing corporation ; and the whole transaction was a fraud. My suspicion is supported by XXXX XXXX XXXX ( XXXX ) letter where they advised me that XXXX has no records of my property Title Insurance in their files. 

When I filed a complaint with Consumer Financial Protection Bureau, on XX/XX/XXXX and XX/XX/XXXX XXXX Bank representative XXXX XXXX XXXX responded with a runaround letter and advised me to talk with Wells Fargo bank, who was a Servicer for this mortgage. This letter created even more concerns and I decided to contact your directly to verify all information. First, XXXX XXXX failed to state his position with XXXX XXXX and provide his contact information, which looks suspicious to the best. Second, I found information that here are numerous identical letters prepared by XXXX XXXX, which also caused reasonable doubts that the letters are coming from the other source, not XXXX XXXX. The link to this information is below. 

Statement of facts. In XXXX I purchased a property located at XXXX XXXX XXXX Place, unit XXXX, XXXX IL XXXX which was listed by XXXX XXXX XXXX XXXX. According to the listing, it was NEWLY RENOVATED LARGE 3 BEDROOM AND 2 BATH CONDO UNIT HAS NEW APPLIANCES, REFINISHED FLOORS, UPDATED KITCHEN AND BATHS, SUN ROOM. SOLD " AS IS '' Buyers should obtain a free prequalification letter from Wells Fargo Home Mortgage ( WFHM ) or an entity which is a joint venture with WFHM by working directly with a mortgage consultant. See additional information attached. Additional information included property taxes, assessments, ect. 

The listing did not mention that this property is a foreclosure. It only demanded a pre-qualification from WFHM. I reviewed sale documents again and again did not found disclosures about foreclosure. 

I was looking for an affordable property in this area and purchased the unit. On XX/XX/XXXX XX/XX/XXXX as Trustee for XXXX Mortgage XXXX XXXX XXXX ( XXXX XXXX, who claimed to be duly authorized to transact business in Illinois prepared a Special Warranty Deed acting under " authority of its Board of Directors or Trustees ''. XXXX was signed by Wells Fargo bank Attorney-in-fact XXXX XXXX. As soon as I got possession of the unit, I realized that something is really wrong with it. 

So, I decided to do more detailed review of the background of this unit just to realize that I became a victim of a scam committed by Wells Fargo Bank, this property sale is a fraud where all documents are forged ; and the Seller is a fake who lacks any authority since it is not existing entity ; and " authorized officers '' appear to be fakes as well. I first checked IL Secretary of State for XXXX XXXX status as Trustee for XXXX and found no records. My worries escalated. I searched public records for XXXX Mortgage XXXX XXXX XXXX and find out that here is a huge foreclosures fraud and forgeries operated by XXXX Trusts. XXXX https : XXXX, last assessed on XX/XX/XXXX. 

XXXX : XXXX LIES | Wells Fargo Banks XXXX XXXX XXXX XXXX XXXX Estate XXXX XXXX XXXX XXXX House is Bank Owned XXXX XXXX I checked the Assignment of Mortgage into the Trust. It was dated XX/XX/XXXX. This Trusts Closing Day was XX/XX/XXXX at the latest ( under IRS Rule XXXX it must be done in 90 days ). So, under no circumstances this Assignment of Mortgage into XXXX XXXX 6 years after its Closing Day can be a legitimate Assignment. 

According to SEC website and IRS Publication XXXX, from XXXX to present time XXXX did not make any SEC or IRS filings which is a mandatory requirement for a legitimate Trust ; and XXXX XXXX has no signs of its physical existence as a legal entity at all. I was not able to find any XXXX of Directors for this XXXX either. 
The Assignment was prepared by well-known Wells Fargo bank XXXX XXXX XXXX and XXXX XXXX XXXX, thus it is a forgery. Assignment attached. 

Wells Fargo bank XXXX XXXX XXXX who signed XXXX appears to be a fake person. I only find XXXX XXXX XXXX who was associated with Wells Fargo bank - and he does not work for Wells Fargo since XXXX. 

" XXXX XXXX '' XXXX XXXX. XXXX is actually Wells Fargo XXXX XXXX. XXXX XXXX XXXX is XXXX XXXX coordinator who also worked for XXXX XXXX XXXX XXXX PAS ), a Maryland XXXX. According to IL Secretary of XXXX, PAS does not have registration to conduct real estate business in IL while WFHM has a very questionable status. According to the record, WFHM filed for registration with the State in XXXX. The last annual report was filed in XXXX. 

The President, XXXX XXXX XXXX XXXX, since XXXX works for XXXX XXXX XXXX, WFB XXXX XXXX, currently under investigation for fraud and facing license suspension in California. See attached. I also found an article that WFB, PAS and their agents intentionally lie to property buyers. See http : XXXX. Last assessed XX/XX/XXXX. 

When I contacted a Title Insurance Company, XXXX XXXX XXXX who received {$1300.00} for the Title insurance on my property, they advised me that they don't have any records on my policy. 

Please provide me verification of XXXX XXXX XXXX Status as Trustee ; good legal standing for of this XXXX XXXX ; legitimacy of the Assignment 6 years after Trust closing day ; copy of the original Note with full chain of Assignment ; explanation why this Note was not assigned into the Trust ; copies of SEC and IRS filings for this XXXX XXXX which can verify its good corporate Standing ; and any and all other documents to prove that his foreclosure was legit ; and the Seller had a valid Title for this property, eligible for sale. 


Sincerely, 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