Consumer complaint received 2018-12-10
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
XX/XX/XXXX Corporate Offices Wells Fargo XXXX XXXX XXXX XXXX XXXX, CA XXXX. 
Re : account number : XXXX And/or Account # XXXX Court CACE XXXX in reliance to foreclosure Affidavit of NOTICE concerning predatory practices and services conducted by Wells FARGO Financial Institution but not limited to the complaint or cause of action found and explained herein The following information pertains to Wells Fargo force placing hazard Insurances that were non mandatory per Florida Statutes when the borrower was already insured and covered they added unnecessary insurances 2 to 3 times the normal cost in order to overcharge, inflate and add these amounts to the loan so that they can accrue more charges more interest and more fraud against the customer. 
It is a known fact that many violations were conducted from the LENDER causing a serious breach and consequently affecting, infringing, and hindering the terms of the loan, herein I have enclosed some of the policies that I was covered for and that I paid for also important information pertaining to this case 12 attachments are included in this complaint. Wells Fargo never remedied nor corrected the wrongdoings since the origination of the loan. This complaint serves as recipient of the following : A ) Wells Fargo from XXXX to XXXX have overcharged insurances by {$14000.00} this amount was included in a foreclosure judgment as escrow advances claimed by the Lender.  The above amount does not include amounts from XXXX to XXXX used to inflate their financial appetite. 

B ) The Banking Institution has provided false and misleading information attached to their lien Judgment to bring about a Foreclosure action against my property concerning amounts that were predatory, inflated, unverified and contested. 


C ) The Lender Wells Fargo has submitted false and misleading financial amounts within the Court causing a serious obstruction of miscalculations hindering the integrity and terms of the loan and the amounts found in the LIEN JUDGMENT are considered defective and untrustworthy. 

D ) The Lender has breached the Mortgage Contract via Predatory practices and services before XXXX and after said date violated multiple laws, rules and regulations tied to the fair collection Act and other important appointed GOVERNMENT Identities that protect against this kind of injustice. 


E ) The Foreclosure actions and amounts were both based on wrongful charges, failure on behalf of the bank to accept the remedies offered them such as settlement amounts, no adequate or available assistance and solutions was provided to my person from Wells Fargo including 5 loan modifications that were applied for but dejected and refuted from Wells Fargo for unreasonable reasons and on discriminative grounds concerning solutions that were left unapplied. 

F ) My complaint concerning 4Forged signatures on the original loan docs one in  particular a federal being HUD XXXX Statement a complaint was filed with the appropriate authorities in reliance to this matter, and violations pertaining to fraudulent measures used and implicating the Lender everything from corruption to illegal methods that are clearly shown and addressed on lawsuits that were conducted against them both passively and actively concerning their illegal dealings G ) The loan conducted and provided by the Lender is a XXXX XXXX XXXX backed up by bonds and stocks to conduct higher interest rates at the expense of the borrower on flawed and deceptive documents whereby investors paid and invested on these defective defaulted mortgages causing a real estate breakdown and meltdown by directly affecting the financial status of all those involved. 

H ) Many foreclosures are the direct results of inflated charges, exaggerated fees, additional force place insurances that are not mandatory with charges exceeding 3 times the average or normal cost, conditions that are unfair, unjust and unreasonable and the banks unwillingness to solution the many problems they have caused to their own demise. Considering that the average cost for homeowner insurances is XXXX for policies involving better coverage and lower deductibles. 

I ) I am requesting that all charges and adjustments necessary be remedied accordingly and that the JUDGMENT LIEN BE REVOKED AND NULLIFIED because is not conform to a true amount and should be considered dejected and void for the reasons and grounds found herein and other complaints that were submitted to various Government Agencies that oversee this kind of Injustice. 
Force-Placed Insurance is a practice of big banks, large lenders, and loan servicers, these institutions force a borrower to maintain homeowners/hazard insurance, flood insurance, and/or wind insurance on his or her residence. Most mortgages require the borrower to maintain homeowners insurance, flood insurance, or wind insurance on his or her residence. If the borrower falls upon hard times and fails to do so, the bank, lender, or loan servicer, will force place an insurance policy to allegedly protect their interest. The premiums for these force-placed insurance policies typically cost 2 to 3 times the amount of normal insurance policy. The banks claim these excessive premiums are the responsibility of the borrower and typically tack them onto the borrowers loan. This is true for force-placed hazard insurance, force-placed flood insurance, and force-placed wind insurance. 
The inflated premiums are largely due to excessive fees charged by the banks for securing the policies and the kickback commissions they receive from the insurers. In many cases, reinsurance companies, wholly owned by the banks themselves, issue the policies. 
The new rules also prohibit services from charging excessive fees, which has been defined under the regulations as any charges ( other than those subject to state regulation as insurance charges ) that are not bona fide and reasonable. 
A federal judge in Florida has elevated a force-placed insurance lawsuit against Wells Fargo to class action status. According to the suit, Wells Fargo purchased hazard insurance on behalf of borrowers whose homeowner policies had expired, a practice known as force placing. While banks are generally permitted to purchase forced-placed insurance for homeowners, they are not permitted to collude with insurance companies in raising the cost of that insurance by paying themselves unwarranted commissions. Allegedly, this is what Wells Fargo and XXXX and XXXX XXXX XXXX had been doing. 

Sincerely : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 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