Consumer complaint received 2022-08-23
Company: WELLS FARGO & COMPANY
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Wells HFargpo Home Mortgage ( WFHM ) is attempting to renege on our pre-agreed mortgage adjustment after a CARES Act forbearance and a disaster mortgage deferral. Conveniently, this action began soon after the interest rate environment made the interest rate locked for that adjustment undesirable to WFHM. It remains an open question as to how much this nefarious behavior by WFHM has expanded since the interest environment provided the bank with a string profit motive to do so. 
Furthermore, the banks errors and mishandling of my case demonstrate the banks continued activity flouting the requirements laid out in the XXXX XXXX Summary judgement against WFHM ( XXXX ) First some established facts : 1. I am a proven good faith actor : I have a perfect track record in making payments and providing documents and responses over 8 year 2. WFHM is an actor with a track record of consumer abuse, fraudulent and negligent behavior with numerous class action and regulatory actions against them. In the course of this one case, WFHM has missed committed deadlines and created long delays in at least 4 different incidents WFHM is guilty of several wrongdoings : 1. Failing to abide by our mortgage adjustment agreement by countersigning and allowing execution of the contract. This was despite clear actions that bind us in our contract : a. Having a verbal commitment from me as an identity-verified counterparty on a recorded call stating for the record that I have absolute intent to sign, notarize and send in this contract, and a confirmation by WFHM that the sending of said contract represents a commitment to that contract under law. WFHM has established numerous oral agreements with me for years, so the precedent and expectation had been set. 
b. Cancelling the mortgage modification on false and/or grossly unjust pretenses : i. Cancelling the mortgage adjustment for lack of a signed contract despite being in possession of the signed notarized contract at the time of cancellation. on XX/XX/XXXX because they had not received the contract by that time. My XXXX tracking data indicates the package was sent guaranteed 2-day A.M. delivery on XX/XX/XXXX. The package was not accepted by WFHM until XX/XX/XXXX. 2 days later, WFHM cancelled the mortgage adjustment even though they possessed the signed contract ii. That contract had already been sent to WFHM back in XXXX. The contract was notarized on XX/XX/XXXX by a notary AT a Shipping store. While I do not have tracking info for that package, it is clear that WFHM had a contract that had been signed and notarized back in XXXX when they cancelled the mortgage adjustment. 
iii. I received no communication indicating that we were at risk of missing a new deadline before that deadline had passed. I called WFHM in XXXX, weeks after sending the contract, which was the conversation where I learned they had not received the contract. They never attempted to notify me of this. Once I learned this information, I verbally committed to the contract and committed to sending the contract. I did then suffer a series of health crises, including escalating XXXX pain from a Long XXXX condition that required immediate XXXX XXXX  XXXX. WFHM I claims to have sent a notification that the final deadline for submitting the contract was XX/XX/XXXX. If I had that communication, there is no way that I would have sent the package 2 day. I would have overnighted it. I did not learn if this deadline until a mailing I received ion XX/XX/XXXX. At that point, I immediately called WFHM, as their recorded calls will support. WFHM has no evidence that I received any notice of such a deadline. From my perspective, they somehow lost the first contract, I committed to sending a second, and I did so. 2 weeks later, they communicated a backdated deadline I could not possibly meet 2. Representing delayed written communications, delays in their processing of incoming mail, and failures to receive signed notarized documents as lost in the mail or never sent despite clear evidence of massive delays in their processing of incoming mail. Yet asserting that all of their mail would have arrived on a timely basis, despite us not having received crucial information about contract deadlines 3. Failing to respond on a timely basis to complaints about these issues in a manner violating the OCCs requirements Banks failure to timely detect, prevent, and quantify inaccurate loan modification decisions and failure to fully and timely remediate harmed customers. This included a. the escalation process is 2 months and counting, despite repeated commitments that it would be resolved earlier b. failure in 4 incidents to meet committed turnaround times when escalation complaints were submitted. 
4. Providing misleading information and unreasonable delays to create a payments crisis situation for customers : a. WFHM has still not made its decision, but has already begun sending default notices. WFHM refused to move that deadline despite repeated processing delays. I will have AT MOST 7 business days to come up with $ XXXX to make the account current, or face default proceedings. Even if I can manage to do so, it would require incurring massive cost in equity value losses and tax expenses. It will force me to drain my 401k/IRA retirement savings prematurely during a down market. Even then, the lead time may not be enough to liquidate assets, transfer the funds b. WFHM case manager represented on a recorded call they would offer to spread that $ XXXX of accrued mortgage payments due to COVID forbearance /Natural Disaster over 6 months. 2 weeks later, once I trioed to set up a payment plan they reversed course and declined that option 5. Committing financial institution negligence - failing to respond to my complaint, and failing to respond to all key elements of that complaint. They actually falsely lead me to believe that they were evaluating my complaint all along that time, and still have not directly responded to most of the contents of this complaint. I gave 3 primary reasons why they were at fault : ( 1 ) UPS tracking # proving their receipt of the contract before cancellation ( 2 ) oral commitment to the contract ( 3 ) the fact that I had mailed in the contract back in XXXX from a mail store where we were physically present, since they were our notary. After two months their response did not address a single one of these issues. It was a gross non-response.

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 non-monetary relief