Consumer complaint received 2016-11-26
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
XXXX XXXX, XXXX XXXX Below is my complaint to the Consumer Financial Protection Bureau, and is an example of why the American people are angry with the government and its agencies for not holding the Big Banks accountable ( one of the biggest is Wells Fargo ) in helping the American Homeowners get affordable mortgage modifications and stay in their homes. 
I am a XXXX, single, XXXX woman who works XXXX jobs and have been trying to get an affordable Mortgage modification from Wells Fargo while in Bankruptcy. 
I am a victim of Predatory lending. I was given a pick-a-payment loan in XXXX by XXXX XXXX who is now Wells Fargo. Before Wells Fargo took over from Wachovia who had my mortgage at that time, they told me that in order to qualify for the Help for Homeowners mortgage modification program I had to be in default of my loan. They advised me to stop making my payments and then I would qualify. So, I stopped making my payments to qualify. They also said because of my age and the fact that I was an unmarried single woman that women are considered a high risk. 
I filed for Bankruptcy in XXXX of XXXX. I filed a modification and had XXXX meditations with my attorney, Wells Fargo 's Attorney and an attorney who was a mediator for both parties. 
In the first mediation, for a new modification for a fixed mortgage of {$320.00} at 2 % and they said the new payment would be {$1000.00}. My attorney said I was paying that to the trustee and there would be no problem. My attorney questioned their Good Faith estimate which they used to try to show how I did not qualify. He asked what the {$7000.00} fee for forced place home owner 's insurance and also the incorrect amount of my salary by not including my bonuses from both companies I work for. Their attorney agreed that if this was reduced and the bonuses where included this would help in me being approved. 
The mediator said that she would waive her fee for the next meeting to get this resolved for all parties. Wells Fargo attorney told everyone that once I submitted proof of new Home owner 's insurance and a Letter of Explanation of my bonuses, that my figures were good and I would have no problems qualifying and getting approved for the modification. We all agreed to meet again after they received the paperwork. 
That same day, I sent my attorney a new Homeowners policy for XXXX and more pay-stubs the next day along with a Letter of Explanation regarding the bonuses I receive from both companies I work for. My attorney submitted the paperwork to Wells Fargo the next day. 
Wells Fargo refused to meet with us again to review everything, and instead sent a denial letter for the modification. 
So, I filed all over again several times and finally got approved ; I spoke with XXXX XXXX my Wells Fargo loan specialist who told me I was approved for {$290000.00} modification at 2 % fixed mortgage with a payment of {$1500.00}. I made my XXXX Trail payments I was required to make and after the third payment they sent the new modification paperwork. 
However, the new mortgage modification I received the note went from {$290000.00} to {$640000.00}. The house only appraised at XXXX. 
How was I denied a {$320000.00} mortgage and now am approved for a {$640000.00} note? This is nothing more than predatory lending again! How can a XXXX, single, XXXX woman in bankruptcy, sign a Mortgage Note for more that the house is appraised for? What I want as an outcome is an affordable fixed mortgage based on what I was denied in the first mediation and even now at 2 % at the appraised value of the house which is {$290000.00}. 
This is exactly why XXXX XXXX XXXX XXXX won! Because the American people are tired of the corruption of the government not doing anything and banks get away with it.

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