Consumer complaint received 2023-01-03
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
In XXXX when the pandemic was declared, the company I had been working for was forced to close its doors due to the lack of XXXX XXXX, as there were no XXXX XXXX XXXX. All orders we had canceled, all employee 's hours were reduced if not laid off, and by XX/XX/XXXX we were out if business and I was unemployed after XXXX XXXX  with this company. Thankfully mortgage payment extensions were offered, and I accepted the extension until the payment extension period was over. Wells Fargo stated " they were here to help and noted on their website several options to consider, to help us. One was a Forbearance Agreement for a payment plan on the missed payments. During the extension period, every XXXXXXXX XXXX we were asked if we still needed a payment extension. One of the times I called into the Home Preservation Specialist department and spoke with XXXX XXXX. During our conversation, I told her I would like a Forbearance agreement, to get a payment plan to pay back the missed payments. 
That was never done after my request. I requested this before the payment extension period ended. After the payment extension was over, I applied for a modification and was denied because of I wasn't making enough income. Distraught, I called into the Home Preservation number and was told I could go re-try and they gave me the phone number to speak to someone. I submitted all documents they asked for including a temporary offer of employment the boasted my income enough, that was able to reapply for another modification, which I promptly did. I submitted everything they asked for, tax documents, trust documents, rental agreements for an inherited property, and a XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, employment letter, all bank statements showing the increase income etc. Everything they asked for. In XXXX of XXXX, I resumed making my mortgage payment of {$3700.00} and have made it ever since. The issue about the outstanding payments from the extension period was still an issue thus the reason for a modification. I escalated this to escalations around XXXX XXXX because of questions being asked of me from an underwriter named XXXX who didn't seem to understand a XXXX trust from my father  who left his XXXX children a house that was paid for, so we made it a rental property. XXXX asked questions how a rental property can show a loss when rent is being collected, or did he appear to understand the tax returns apparently. This is an underwriter who was reviewing my request for a modification. I called escalations and I spoke to a lady in escalations who wasn't the most helpful and I didn't feel any better about the status of my modification request. Several days later I received a call from XXXX in the escalations department and he had XXXX another underwriter on the phone who had a couple of questions. 
He asked about the trust, the XXXX siblings who get a distribution, how often the distribution occurs etc. each time saying that made sense. XXXX, after XXXX appeared to be satisfied with the answers and was off the call, said to me that he was watching the progress being made on this modification, that they would try to get me a lower interest rate and get the missed payments included as part of the modification. i felt things were looking up. The next thing I know after several weeks go by ; it is denied because XXXX came up with a month income of {$4400.00}. I was shocked because all my bank statements showed a lot more income than that a nice ending balance each month. My financial status had improved. I sent an email raising concern over the issue, I received a call from I believe her name was XXXX, told me she was taking over my file and once received I could go to re-entry again. My file had been flagged, and as soon as she had it she would let me know. The next call I got was from XXXX XXXX, we had a very lengthy conversation and she reached out to XXXX for some answers about the income shown on the banks statements, why wasn't that included and why the monthly trust distribution I received wasn't included. His answer was, he disallowed my monthly income because I was nearing the end of the current employment period and instead of having XXXX XXXX or anyone reach out to me to see if my 1099 employment was going to continue with the company, I was doing accounting work, for he just disallowed it without any questions asked. Then he disallowed the income from the trust because it part of it he considered it to be a gift, from XXXX of my XXXX to help me when I lost my job of XXXX XXXX and they didn't need it. I previously told XXXX I could get letters from my brother and sister if needed, and he said it wasn't necessary. The trust gave the XXXX of us XXXX XXXX each of what my dad left us. It's up to the trust recipient to do with their XXXX XXXX as they want, and my brother and sister gave me their portion to help me. This is a permanent, not a gift as XXXX considers it. The monthly distribution was {$1500.00}, that was deposited and noted on the bank statement. The amount came from {$500.00} to each of us. 
XXXX disallowed the whole thing, did not even allow my XXXX XXXX monthly to be considered as income, the monthly amount I am entitled to. I went back to re-try, was approved, and have resubmitted the loan assistance application along with a continued employment letter, that have been confirmed received. XXXX could have had this continued employment letter had he asked for it, but I guess it's just too easy for them to deny loan assistance requests, instead of making sure they have everything needed to base their decisions on. I have yet to be asked for any current bank statement to verify income or anything. 

Then on top of that, I was told that I had to have an impound account as a condition of the modification. The modification has not yet been approved and your impound department paid my property taxes and I'd like to know why? All that did was increase the amount I owe from the extension and now the taxes. 

I don't understand how an underwriter can make decisions like that and not be questioned about his decisions. He never asked any more questions, just made the decision on his own even though he had bank statements that showed otherwise. 

I have given the jest of everything that has happened, in hopes that someone in upper management will look into this and reach out to me for more information. 

Is this how Wells Fargo is there to help? 

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