Consumer complaint received 2018-05-16
Company: WELLS FARGO & COMPANY
State: NH
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
I submitted a complaint to the NH State DOJ they have tried to help me with Wells Fargo but was unsuccessful. They suggested I send my complaint to CFPB All of my mortgage payments have been made for the 13 years I have had my mortgage. I have never missed a payment. Wells Fargo is reporting to the credit bureaus that I have Missed Payments Wells Fargo admits they would not accept payments during a review process for a loan Modification which spanned over 5 months. How is it okay for them to not accept my payments and to continue to charge me late fees, report missed payments and report late payments. I am believe this to be fraudulent, predatory and unethical. I further believe it is in direct violation of the FCRA. 

Wells Fargo worked on our modification for 5 months then denied our request for assistance. During that 5 months I initiated communication with them on almost every occasion. On many occasions the application was stalled in one department or another until I initiated contact urging them to move the application along. After 5 months the application was denied because it was deemed our income was too high to qualify for the program, a program which they recommended to us. Wells Fargo had our income amounts on the first day we submitted the application. Because the process took so long the late fees piled up and the fraudulent credit report continued. Wells Fargo at inception claimed the process could take as little as 10 days, in our case it was over 140 days. This is a case of a fraudulent Bait and Switch tactic. 

Wells Fargo reports to the credit bureaus that my payments for XX/XX/XXXX to XX/XX/XXXX are 120-149 days late these payments were paid in a lump sum in early XX/XX/XXXXthe reporting is fraudulent In summary I feel we have been victim of predatory lending,  charged illegal fees and are victims of fraudulent reporting to the credit bureaus. These violations are well within your purview. I urge you to request our file from Wells Fargo, it will show that we pleaded with them to expedite the modification process. Ask Wells Fargo for the phone transcripts, they will show that they repeatedly lied to us and assured on many occasions that the process would be completed by a certain date which came and went until we again initiated contact. Ask for the original loan documents they refer to, that they allege allows them to not accept payments yet charge late fees and report fraudulently to the credit bureaus. Furthermore, recognize that Wells Fargo is being sued on a regular basis for its unethically and illegal practices we are another one of their victims. Dont allow them to send you a canned response form letter like they did to the State oh NH DOJ. 

Because of their fraudulent reporting we have recently denied credit 3 times, stuck with them because due to their reporting we are unable to get our loan moved to another lender. 

Lastly, Wells Fargo offered us a program allegedly to help people in need with unique circumstances after you review our application you be the judge if we fit that criterion, I am confident you will agree we should have been immediately approved or maybe this is yet another predatory program Wells Fargo is pushing or faking! I realize you cant force an organization to have empathy but I refuse to be taken advantage of! I hope you will agree with me and take this matter further I have appealed to Wells fargo senior management and I get the same canned responses.

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