Consumer complaint received 2019-06-19
Company: WELLS FARGO & COMPANY
State: NC
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage

Complaint:
I am filing this Complaint because Wells Fargo Home Mortgage FAILED and/or REFUSED to Answer OR Explain the following things I pointed out in my previous Complaint filed on XX/XX/XXXX > Complaint Number : XXXX > Here are the following 4 ( FOUR ) Points ( POINTS A, B, C and D ) they NEED to Answer Completely and Fully >> POINT A ) When I told Wells Fargo this : The first mortgage to Wachovia was for {$140000.00} ( at a 5.25 % fixed interest rate ). 
{$6000.00} was paid on it by my father from XXXX to XXXX. ( He died in XXXX. My mother passed away in XXXX. ) When Wells Fargo took over the Loan they raised the fixed interest rate from 5.25 % to 8.34 %!! 
In their XX/XX/XXXX Letter to me Wells Fargo responded with this : When the account originated, the estimated value of your property was {$140000.00}. The valuation we applied based on our valuation model was $ XXXX.The requested amount of the loan was {$120000.00}. We were able to approve the loan at the higher amount of {$130000.00}, than what was requested but was accepted by both borrowers at the time of origination as the documents were signed. We confirmed the loan amount was only {$130000.00}. 
The Problem with that Explanation is Twofold. 1 )  They totally Ignored confirming the fixed interest rate numbers I gave them ; And 2 ) They Ignored the fact that I told them my father paid a total of {$6000.00} on the loan between XXXX to XXXX ( I have the Check payment stubs & Bank statements from that period to Prove that he Paid on a Wachovia Bank {$140000.00} Loan ). Therefore the Remaining balance of the principal would be {$130000.00}. But {$130000.00} was NOT the Original Principal. The Original principal is {$140000.00}!! Based on their model the Remaining balance would be {$120000.00}. Wells Fargo has NOT Responded to  me on that fact yet. Wells Fargo claims that they are still researching. POINT B ) > In Wells Fargos XX/XX/XXXX letter to me Wells Fargo claimed and I quote ''that they found NO Evidence of a Loan being sold to XXXX XXXX ( XXXX XXXX  XXXX XXXX XXXX ( XXXX ) with a {$44000.00} loan Yet they CAN NOT explain to me why the Foreclosure/Debt Attorney Firm XXXX XXXX XXXX XXXX sent the following Letter to XXXX XXXX XXXX < SEE .PDF File Attached > which states that and I quote ''Our records indicate that your company ( XXXX XXXX XXXX ) holds a Junior mortgage on the above described property OR the Notice of Foreclosure Sale was sent to the Party encircled in asterisk <SEE .PDF File Attached > which is XXXX XXXX XXXX!! XXXX XXXX XXXX XXXX also sent a Letter and Notice of Foreclosure Sale to a XXXX XXXX and aka XXXX XXXX. XXXX of XXXX XXXX XXXXXXXX XXXX XXXXXXXX IL XXXX. <SEE .PDF File Attached > Why would they send a Letter there? I CAN PROVE that I NEVER EVER resided at that Address!!! POINT C ) > They did NOT show me a copy of the Original Wachovia Bank Loan Document that would show my signature as Power of Attorney IS underneath my fathers signature therefore proving I was NOT a Primary Co-Borrower. INSTEAD They sent me these Forged Switched copies of the Deed of Trust and the Wachovia Bank Loan Note ... ..And Finally POINT D ) > Wells Fargo FAILED to Explain that Under Wachovia Bank Policy I Could NOT be eligible to apply for a Home Equity Loan as a Borrower because of these 3 ( THREE ) Reasons >> 1 ) I did NOT have an Account with Wachovia Bank ; 2 ) My Income was BELOW their minimum requirements and 3 ) I did NOT own the property that they could place a lien on. At the time of the origination of the Loan the Property was in my parents Name NOT mine!! IF Requested I CAN PROVE That those 3 Reasons ARE TRUE!!! However my father met ALL 3 Qualifications to Successfully apply for the Home Equity Loan. Yet Wells Fargo listed me as the Primary Borrower!! Also Wells Fargo did NOT address why they could NOT answer YES OR NO that if they ( Wells Fargo ) provided an actual Accounting of the Debt proving that the company will sustain an ACTUAL LOSS IF the Debt Loan goes Unpaid. Instead Wells Fargo REFUSED to provide me a Validation. The Response in their XX/XX/XXXX Letter is and I quote We are unable to accommodate this request as the information you are requesting is considered to be privileged, confidential and/or proprietary information of Wells Fargo. So they claim but it is NOT because an attorney CAN Prove that it is NOT privileged, confidential and/or proprietary information in a Court of Law!!! Therefore I would have to go court file a lawsuit and force them under oath to answer that question truthfully. 
Wells Fargo Responded the way they did because they do not want to admit that they were wrong and did an injustice and therefore offer and/or pay a Settlement.

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