Consumer complaint received 2018-07-03
Company: WELLS FARGO & COMPANY
State: MD
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
In wanting to provide the history for better understanding ... ..at the end of XXXX, I had received information by my mortgage company, Wells Fargo Hm . Mortgage Co., about applying for a HARP program or a loan modification as I had met the qualifications and I was struggling to make the monthly mortgage payments because of a change in employment however my monthly mortgage payments were still timely. I had NEVER been delinquent with my mortgage payment with the current program that I had. I was told that I had to be at least two payments behind to be considered for the loan modification that I was applying for. The process dragged on from XXXX XXXX - the end of XXXX XXXXWells Fargo did everything in their power to prevent from approving me for the loan modification even though I met all of the financial qualifications. I also had an outside company that specializes in loan modifications to assist with the process. Wells Fargo stated in early XX/XX/XXXX that they would approve the loan modification if I were to get one more thing which was getting a quit claim deed signed by the co- owner who no longer resided in the home and hasn't since XXXX even though initially Wells Fargo stated that they did NOT need the signed quit claim deed. I quickly was able to get the quit claim deed signed and then the court in Maryland required a {$5000.00}. payment for the property taxes in order to sign off on the quit claim deed as Wells Fargo would not accept the signed deed without their signature. My property taxes are escrowed and therefore, Wells Fargo should have paid for the signed quit claim deed as it was their responsibility to pay for the property taxes instead of demanding that I pay for it upon which I was unable to afford at that time. Wells Fargo vascillated and a representative that worked in the Ofc. of the President ( XXXX XXXX. ) told me that she had checked with the tax division I was correct in that I would not have to pay for the transfer tax fee of {$5000.00}. and that it would be the responsibility of Wells Fargo and that she would get back to me. Their left hand did not agree with their right hand and there were two differences of opinion in the Ofc. of the President according to XXXX. 
Furthermore, I could not afford nor should I have had to pay the {$5000.00}. This is why I was applying for the loan modification to begin with. Wells Fargo can not be trusted and this was their way of getting out of approving the loan modification. Wells Fargo 's reputation is based on deceit and deception and I and the company that was assisting me believed that Wells Fargo had no intention of approving this loan mod.even after dragging this process over a 6 month period. So after dragging the process out for an extended period of time with limited communication about what their final decision was going to be they finally denied the loan modification after having me to jump through so many different hoops. I strongly believe that Wells Fargo thought that I would not be able to get the quit claim deed signed by the co-owner since I mentioned this initially that it may be a challenge but then when I was able to 5 months later after their last minute request! Also XXXX never mentioned that coupled with the signature would be a TAX transfer fee that I would have to pay. Wells Fargo was not transparent at all with this entire process. After denying my loan modification, a few months later, I tried to co-sign for my son who just completed college for a new car in order to get a lower rate. This is when I discovered that Wells Fargo reported me being 3 months late on my credit report and seriously impacted my overall credit scores. This should not be as their were ; partial payments made that they HELD in an UNAPPLIED FUNDS ACCOUNT that they could have considered and applied to the total balance which they REFUSED to do. I addressed this issue several times with several different reps. in the Ofc of the President. The last person I spoke with was XXXX XXXX XXXX who was self serving and promised to get back to me on a couple of different occasions with a phone call in XXXX and never did. I even tried to call him and left multiple messages, and he hid behind his phone appearing to always be busy with another customer. I finally received a letter from XXXX XXXX, an Executive Resolution Specialist, dated XX/XX/XXXX, XXXX indicating that Wells Fargo was refusing to change the derogatory credit reporting inspite of the long drawn out loan modification process which they initially said would be competed in XXXX - 90 days at the most. I still never received any phone calls from the Ofc. of the President making any effort to do anything positive inspite of their shady dealings and unethical processes. XXXX XXXX made a commitment to call me back and still has not done as of XX/XX/XXXX. 
When I had applied for a previous HAMP modification program in XXXX that was approved and my credit rating was NEVER affected while waiting and going through the process for an approval and or denial. The program coordinators understood and worked with me during the 90 days and I NEVER made a payment during that time while they were reprocessing the loan. They actually ended up rolling the past due into the loan and offered alternatives to assist me. Wells Fargo Home Mortgage today seems to be doing alot of commercials stating that they are re-establishing themselves but their reputation throughout the communities as I speak to neighbors and friends continue to worsen everyday. The representatives in the Ofc. of the President withhold information and are combative and dishonest and deceptive. They representatives I speak to never offered any alternatives for assistance and seem like they want to see your home go into foreclosure. Wells Fargo was penalized with having to pay 4 Billion dollars in damages for fraud and they should turn their mortgages over to a reputable company and be made to close their doors. They still are not making any effort to promote goodwill throughout the communities throughout the nation.

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