Consumer complaint received 2018-06-22
Company: WELLS FARGO & COMPANY
State: MA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
XX/XX/XXXX Complaint Re : Wells Fargo Bank In XX/XX/XXXX I opened a NOW Line account at a local

branch with a limit of {$40000.00}. It was a Home equity product as it was sold to me. My home being used as security. Yesterday, while reviewing a subordination agreement I discovered Wells Fargo had placed a {$200000.00} lien on my property. NOT {$40000.00}! I NEVER authorized this. In fact, I have the original document the Now Line card came on clearly showing a credit limit of {$40000.00}. I also have a statement from XX/XX/XXXX which also shows a credit limit of {$40000.00}. They have subsequently provided a deed/lien document with my signature on the second page. Yet, the first page which states a {$200000.00} credit limit is distinctly missing my initials. I firmly believe this page was replaced after signing. 
Further, I reviewed my modification documents dated XX/XX/XXXX and to my horror realized I had missed the statement of the original loan amount of XXXX. It never was {$200000.00}. However, the modification states Wells Fargo was to amend security documents to reflect the new agreement which would be a balance of {$36000.00}. Therefore the lien should have been amended. It was not. The subordination agreement is dated XX/XX/XXXX. They now claim they do not have to change the lien despite the fact that the modification clearly states that. 
Additionally, as part of the modification Wells Fargo was to correct and bring current my credit history with all three bureaus. To date despite repeated calls and complaints, this has not occurred. XXXX XXXX is still in error. XXXX and XXXX are somewhat corrected. 
Another issue is the proper application of payment to principal and interest. This is a fixed rate and term equity line with a fixed balance. 22.6 years, at 9.65 %. My most recent statement showed a finance charge of {$310.00} and principal of {$16.00}. The original loan amount was {$36000.00}. If you amortize it at 23 years, the principal would be {$37.00} by this payment! They now claim they can not provide an amortization schedule as it is a simple interest loan. This was NEVER disclosed to me.

To be quite honest, this is just the latest nightmare with this company. Over the years, Ive been lied to, overcharged, told we will not put that in writing when I requested a modification to terms years ago due to hardship and subjected to all manner of deception. 
I came back to the table with good intentions given their public relations campaign of the new Wells Fargo. I entered in to a modification with the intention of absolutely adhering to my obligation. Only to find that Wells Fargo is in fact, the same Wells Fargo of the days past. Since the modification I have endured nothing but continued stress which given my health ( XXXX XXXX due to XXXX ) is incredibly detrimental. Its as if each day Im on the phone filing yet another complaint with them only to be told its being researched and theyll get back to me. Theres yet to be a resolution. My complaints have been escalated to XXXX XXXX however this is the third person who was supposed to resolve them prior to the lien issue which I just discovered. How long am I supposed to wait?! 
At this point I want everything corrected but I also want a punitive aspect. They need to be held accountable for their behavior. Fining them has proved pointless. They need to actually pay for their grievous behavior to the consumers theyve impacted such as myself. To place a {$200000.00} lien on someones home for a {$40000.00} equity line? Utilizing a fraudulent document? That rises to the level of a crime and that needs to be answered for.

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 monetary relief