Consumer complaint received 2016-01-22
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
We are writing to you because we feel that Wells Fargo has been not properly processing our loan modification over the last 6+ months. We feel that their main goal is to foreclose on us and we want to take action before it 's too late. We also feel that because we were in prior litigation with Wells Fargo, that they are using this against us. In fact, in a previous attempt for a modification with Wells Fargo, our attorney at the time put Wells Fargo on notice that it was breaking the law by " dual tracking '' us. Wells Fargo started tacitly agreed by allegedly starting the process over for us which still resulted in a denial and we sued Wells Fargo. We obtained a new attorney, but even with that, Wells Fargo made us sign an agreement that we would dismiss our lawsuit, with prejudice, before it would even consider taking an application for a possible review from us. Under extreme duress, we signed the agreement because we were facing, according to Wells Fargo, imminent foreclosure very quickly. As far as the employees we have dealt with over the phone, we have had nothing but kind representatives that have tried to help but our concern is their actual underwriting process and blatant attempt to foreclose on us. After our loan modification was denied back in XXXX of XXXX we have been re-sending in documents to try and save our home. Our latest incident occurred on XXXX/XXXX/XXXX when a representative at Wells Fargo notified us that the underwriter on the file did not feel that we were properly representing our income to them because we earned less money in XXXX & XXXX than we did in XXXX. Our feeling about this is that the bank is just flat out accusing us of lying about our financial statements which we are being honest about. It 's obvious that we did not fare well financially in years prior to XXXX and that is the reason why we fell behind on our payments. So for Wells Fargo to use that as an excuse is a bit ridiculous. We feel that we also have been discouraged from continuing with the modification process because we were told that even if we get approved for a modification, that we would have to come up with XXXX past due payments and that our investor did not provide any government loan modifications without having been properly declined. Is n't it against the law to discourage someone? Also, if we have to come up with the entire past due payments at once, what is the reason for a modification to help people balance and move forward? We feel that Wells Fargo 's re-entry process has set us up to lose our home. We have complied with every condition and document that Wells Fargo has requested in order to be re-reviewed and are not getting a fair review of our file. I talk to many friends that have been through this process and they tell us that they have not had the type of experience before with their particular lender. From our understanding, we have heard that in California, once you submit a full package to a lender, that we are suppose to be put in review, which usually takes 30-45 days, and have an active foreclosure stop on our home while the loan is reviewed. With Wells Fargo, it seems that they make up excuses not to review our file and we are tired of the run around. Every time we submit the required documents that we are asked for, we are told within a couple of days that we do n't meet a certain condition. Even though we have been submitting every requested document as soon as it is requested, we still do not have a letter stating that we are in review. Every person we talk to tells us that this letter should already be our possession. But there is one thing that we do have from Wells Fargo Bank and that is a Notice of Default which we received in early XXXX XXXX. We are receiving multiple pieces of mail from saying that our home is " officially in foreclosure ''.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation