Consumer complaint received 2018-02-06
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
On XX/XX/XXXX we got a loan at XXXX XXXX that was to provide the means for an addition to our house. XXXX XXXX insisted that we get A-Pick-A Payment loan. 
Since it was to construct an addition, payment would be low in the beginning, and then when finish we could refinance to a fix loan. Our loan balance at that time was {$190.00} and the loan we requested was for {$200.00}. We bought our house years before for {$390.00}. 
I got a permit from the City of XXXX XXXX to do a new master bathroom and master bedroom, also we put a new roof. 
In XX/XX/XXXX I went to XXXX XXXX to get a new loan, to my surprise, the friendliness I always received, was not there, not from the manager or employees. When I question a friend of ours, she worked as a cashier, she told me : '' We can't talk ''. 
A man came from the back office and gave me a piece of paper with an XXXX number, and he said : " Call this number ''. That was it. 
When I called that XXXX number that is when I heard that XXXX was the new owners of my account. Later it took me 3 years to communicate with XXXX to explain my dilemma, at the end, they denied any kind of help, based on the fact that my loan was too large and I didn't qualify. Indeed it was growing due to the fact that it was a Pick-A-Payment loan, and we couldn't afford to pay a full amortization. In the meantime the whole Country was having an economic crisis, people leaving their homes not able to pay their mortgage. 
Eventually XXXX also collapse and had to sell to Wells Fargo, for pennies. 
In My contract, that I still have with Wells Fargo, there is a page with the name of RESPA. RESPA places a a section destined to protect the consumer and it is : MORTGAGE SERVICING TRANSFER DISCLOSURE, IT EXPLAINS THAT i SHOULD HAVE HAD, A WRITTEN NOTICE 15 DAYS PRIOR TO THE TRANSFER. 

Wells Fargo has avoided my direct complaint, explaining that I signed a contract and that I knew all the facts. But in my complain, specifically explained that XXXX XXXX committed fraud, by not disclosing the sale as our contract stipulates. 

Wells Fargo has now a record of doing illegal things, Wells Fargo gave California XXXX XXXX dollars to help, people like me and the Pick-A-Payment loans. 

I am only an individual pressing for my rights, XXXX XXXX committed a crime with so many home owners and I am still trying to find justice, please help. 

Wells Fargo in their response letter dated XXXX XXXX ( enclosed ) Origination concerns about account number XXXX Wells Fargo is changing the words even though it is all written down. 
" I did not say that XXXX XXXX committed fraud, because they did not disclose that the loan was a Pick-A-Payment loan.- This is false. 
Also, '' that I was not informed that my loan could be sold to another bank '', that is also false. Wells Fargo has now interpreted a false story formulated to confuse. 
.

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