Consumer complaint received 2016-11-30
Company: WELLS FARGO & COMPANY
State: OR
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
We are requesting a full investigation into Wells Fargo/ASC 's unprofessional practices regarding their mortgage loan modification department. Underwriters are not reviewing the requests correctly by using incorrect information and denying modification requests without showing a full breakdown of the approval process. We have received denial letters which reference incorrect figures and calculations and when we have appealed the denial and requested a thorough review, we receive a generic standard letter stating they reviewed it and we still do not qualify without responding to all the inadequacies we have pointed out in our appeals. We have requested reviews of our previous CFPB complaints ( Case # XXXX and # XXXX ). When we have called Wells Fargo/ASC to discuss the inaccuracies that they had sent us in their denial letters, the representatives insist they are correct and if we are disputing the figures then we must have given them incorrect information. They have refused to pull the original paperwork we had sent in to prove that our figures were different from the ones they have used, and no one in their company will listen and DO the research. The only representatives that have ever listened to our complaints were XXXX and her manager XXXX which now are not able to help us because the Re-Entry team refuses to accept our modification paperwork. All we are asking is to review our paperwork correctly using the income and debt we provided, and also provide a correct appraisal of our property. Here 's an example : XXXX XXXX from Wells Fargo/ASC 's Executive office responded to our Consumer Protection Financial Bureau complaint. He addressed several of our concerns including our complaint that Wells Fargo/ASC did not use the correct income and debts that we had submitted for our loan modification request on XX/XX/2016. In his letter he shows the breakdown of our income as {$7700.00} for XXXX and {$4100.00} for XXXX which totals {$11000.00}. Although our total income submitted totaled {$27000.00} including rents, and debt income totaled {$25000.00} including all mortgages and expenses. The breakdown that XXXX submitted did not match our income and rents, and as you can see below, his breakdown total was added incorrectly which confirms our complaint that Wells Fargo/ASC is sloppy in their review process and provides inaccurate information. As an example, XXXX provided an income calculation for our rentals reducing the rents to 75 % and deducting the mortgage from the adjusted rent total : Property 1 = {$9.00} Property 2 = - {$190.00} Property 3 = {$510.00} Property 4 = {$58.00} Property 5 = - {$300.00} Property 6 = {$21.00} Property 7 = - {$1000.00} Property 8 = {$220.00} Property 9 = {$920.00} Total = {$170.00} The total should be {$170.00}, however XXXX 's total is {$1700.00} which is {$1500.00} more than {$170.00}. Why did they not calculate into the total the negative income as they had provided? 
In this letter XXXX also addresses our dispute regarding the NPV calculations and our request to review the figures used. He states that they are unable to provide the document used but on his letter dated XX/XX/XXXX he states they used the property value of {$460000.00} and gross monthly income of {$11000.00} which is incorrect according to XXXX 's addition above. We have a copy of an NPV used on a prior modification request which showed incorrect figures and reviewed it with the Wells Fargo/ASC foreclosure attorney and a Wells Fargo/ASC mediation representative, and both confirmed the figures used were incorrect and advised to appeal the request. However when we appealed Wells Fargo/ASC refused to acknowledge that their figures were incorrect. 
Wells Fargo/ASC continues to provide inaccurate calculations, use incorrect figures, and make conflicting statements. See Attached documents.

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