Consumer complaint received 2016-08-06
Company: WELLS FARGO & COMPANY
State: PA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I have a fixed-rate mortgage loan that is fraudulently being serviced by Wells Fargo Home Mortgage. 
The bank blatantly provides generic responses to specific answers and abuses the loopholes within the CFPB review process. 

For instance, this very complaint has a high percentage of being labeled as a " Duplicate '' case because Wells Fargo can provide a boilerplate initial response, and indicate that any subsequent inquires are settled or " Duplicate '' in nature. However, nothing is further from the truth. Wells Fargo should be penalized for the maximum penalty possible for my case alone. 
Fortunately, the CFPB rules that were just published yesterday might help a few homeowners, but, the rules extend one year to sort things out will give banks too much time to figure out other angles to generate profits at the expense of homeowners and taxpayers. 
The " Duplicate '' response rule is among the most abusive ways that Wells Fargo uses the weakness within the CFPB regulations to avoid answering direct questions. The bank flat out lies and uses industry-recognized jargon to appear as if everything else falls into place. 
For instance, I have asked the bank for a chain of title for more than 3 years to help provide greater clarity as to whom the legal owner of my mortgage note is. The bank has refused to provide this information to me. Even after I sent a " Qualified Written Request '' this past spring, Wells Fargo refused to provide the documentation. The bank continuously sends me a copy of the original mortgage that I already have. I want every regulator to understand that I know who was responsible for fraudulently originating my mortgage -- Wells Fargo! My concern from the outset and to this very day has nothing to do with the " Note '' that Wells Fargo originated because the bank did not retain the " Note and the Servicing Rights. '' Since the " Note '' that Wells Fargo keeps highlighting was " Sold '', I am demanding the " Chain of Title '' because after Wells Fargo sold the " Note '' -- Wells Fargo had the audacity to " Assign ' the " Mortgage Note '' to XXXX XXXX more than 5 years later. After Wells Fargo " Sold '' the " Original '' " Note '' via a securitized transaction to XXXX XXXX, nearly a year later, I receive a Foreclosure notice from XXXX XXXX. There was n't a " Note '' when I requested it. So, Wells Fargo and XXXX XXXX fabricated multiple " Mortgage Assignments. '' Wells Fargo is among the best banks if not the very best at using smoke and mirrors to hide variations of their fraudulent practices. 

For instance, the case that Wells Fargo closed on XXXX/XXXX/XXXX states the following : Response disputed Wells Fargo Home Mortgage said : Explanation of closure " We received the inquiry from XXXX XXXX in regards to foreclosure and chain of title. We have provided information in regards to foreclosure action and correct chain of title. '' Once again Wells Fargo has lied to the CFPB, me and other banking regulators. Enough is enough, how much abuse must my family endure. As recent as this past spring and for more than 3 years, Wells Fargo has said that it would not provide me with the chain of title to the property. Throughout this extensive case, it is highly documented that I have demanded certain items, and Wells Fargo has said that it would not provide the requested items, hence the need for me to send the " Qualified Written Request '' XX/XX/XXXX. The last entry on the XXXX/XXXX/XXXX shows that I immediately " Disputed '' Wells Fargo 's response because I never received the chain of title that Wells Fargo lied about providing on that date, or at any time. However, no further research or details were forthcoming from regulators or from Wells Fargo. This glitch in the system requires a repair so that Wells Fargo will be held accountable versus leaving me and millions of other homeowners with unsettled cases.

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