Consumer complaint received 2017-09-27
Company: WELLS FARGO & COMPANY
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Closing on a mortgage

Complaint:
I would like to submit a complaint to report unfair, deceptive business practices of XXXX XXXX XXXX XXXX dealing with my case Loan XXXX. This situation started XX/XX/XXXX and I am still waiting answers to my questions and request. I have reported this situation to several times to Wells Fargo internal departments including Board of Director and XXXX XXXX CEO. The situation with the property referred in case Loan XXXX was resolved only because I took a difficult unexpected decision in order not to lose the potential customer who wanted to buy my house. Wells Fargo misled us, provided misleading information to handle and manage the case, neither gave us ( My wife and me ) support nor proper guidance plus they made us lose our time, money and affected our personal and professional life. 
On XX/XX/XXXX, we approached a Wells Fargo branch office to explain my situation and asked what options I could exercise. After being suggested the Wells Fargo Short Sell process, l provided all Wells Fargos requirements in order to consider us into their Short Sale process so that I can lower the price and sell the house quickly to avoid foreclosure. I complied with all the requirements requested from Wells Fargo. These include a letter explaining my financial hardships that occurred without my control. I was laid off from a very traditional and solid organization in the health care environment in XXXX, Tx. The option to participate in the Wells Fargo Short Sell process was presented as a privilege that needed to be approved. 
Since the very beginning, we were unable to receive proper information, guidance, advice, support and direction about how to proceed with the Short Sell process with Wells Fargo. I was never informed about the conditions, rules of engagements, amounts ( price, debt, etc. ), procedure and process to handle and manage proceedings to accept the sales price. I submitted at least seven offers but never I was explained why they were not accepted/approve even though most of them were above the price they specified in their correspondences. 
Wells Fargo provided us only misleading and wrong information during the whole process from XX/XX/XXXX until XX/XX/XXXX. We spent two month collecting and submitting the required information but they never used that information to make the analysis of offers and our situation. They made a mockery of us. They never used that information. It was only used to assess if we were granted the privilege to participate in the process but it was not used not during the whole process, for example, when taking the decision to accept an offer, to assess or refresh themselves about the financial limitation we had, the timing to make decision ( Potential buyer even withdrawal offer because Wells Fargo long time to decide, etc. ). This caused that our debt increased because Wells Fargo was not in a hurry to close the deal. Meantime, they continue charging us interests and paying insurance without us knowing that. 
The worst is that being the debt owner responsible of the property, we were forbidden to talk to Wells Fargo personal involved in the process and empowered to make decisions for case Loan no. XXXX. We were authorized only to talk and deal with an intermediate person that does not know anything about the Short Sell process. We never talked neither met with the Processor, the title of the person assigned to help us with our case Loan XXXX. We understand that the Processor was the only person responsible to analyze and accept/reject offers presented of potential buyers, etc. The Processor could only communicate with my realtor to take decision about my property and debt. This is unacceptable, totally unacceptable. My realtor, a very diligent person was several times offended personally and professionally by Wells Fargo during the process. My realtor tried very hard to sell our property but at the end my realtor does not cares about the issues and responsibilities that I have with my creditor. Meanwhile, Wells Fargo was very diligent reporting me to the Bureau of Credit and making frequent phone calls threatening me about the pending debt. 
The Wells Fargo branch offices and personnel that I contacted as indicated in my letters do not know about the Short Sell process. Since the very beginning, we were obligated to talk only by phone with Wells Fargo personnel to look for answers to our questions and concerns. I only used Wells Fargo branches to send via fax my information and communications. The branches were not prepared to provide any help at all. On the other hand, Wells Fargo expected and demanded that our realtor, and realtors in general in XXXX area and potential buyers should know the process. They did not accept that we did not know even though we tried very hard. Also, this is not acceptable either. It is offensive, degrading and humiliating. 
My credit was significantly deteriorated during that critical period of my life. I was looking for a job and but checking credit score is a standard practice during prequalification for job opportunities. Also, my personal dignity was severely affected by the treatment of Wells Fargo personnel. 
I tried to escalate my complaints internally in Wells Fargo but the persons assigned to attend my case did n't seems to understand my complaint. I am still waiting for responses to know if the Wells Fargo CEO and Board of Directors agree and stand behind the responses that I got as resolution of the case Loan XXXX. They focused their analysis on how they have complied with Wells Fargo internal processes. They have complicated everything trying to confuse me. This Short Sell process and service they have as a financial organization is wrong. An important step to improve and correct the situation is to acknowledge that but Wells Fargo does not want to do that. Wells Fargo can not leave out of the process the owner of the property and the debtor. Wells Fargo can not leave us out of the process when we wanted to help find the solution. 
The Wells Fargo staff, including executive levels, to whom I addressed my issues, complaints and questions never responded my letters. They designated, I assume, persons and I do not know if they are aware of how the designated persons answered my questions, issues, concerns and requests ( See attached letter A-WELLS FARGO Final Letter ) of my case Loan XXXX. Also, I do not know if they agree about the resolution they gave to my case. 
On XX/XX/XXXX we received an offer for {$220000.00} to buy the property referenced in Loan no. XXXX. This offer was well above the debt and parameters indicated in the Short Sell documents. But, without any warning or alert, we were told that the debt was really XXXX meaning this that we were short by {$10000.00}. Therefore, I had to ask for an emergency personal loan for that amount. Wells Fargo did not provided any help neither option. The persons that were handling my case ratified the amount {$230000.00}. I only could close the deal to avoid the risks to lose the customer because I took the personal loan for the difference. Wells Fargo knew that under my financial constrain at that moment that I could not afford such action. I need to highlight that Wells Fargo knew that the property was for sell since XX/XX/XXXX. 
Consumer Financial Protection Bureau ( CFPB ),, I am attaching some critical documentation to present my case but I also I request that all phone conversations made to Wells Fargo to be available because they are very important to my case. Together with the phones conversations, I have evidences to prove all that I am writing : dates, documents provided to present our case, questions, issues, concerns, disagreement about how they were handling the case and their process. Also, I have communications presented to demonstrate our intention all the time to help to resolve the situation, how they mocked us, the misleading information they gave us, the errors and mistakes that we detected, the information about the amount of the debt, the time wasted, my unanswered letters to specific person, etc., etc. 
CFPB, I respectfully request your help and guidance. I honestly do not accept that as a consumer to be exposed to so much unfairness, discretion and mistreat. 
Thank you

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