Consumer complaint received 2016-08-01
Company: WELLS FARGO & COMPANY
State: TX
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
This is a dispute response from CFPB # XXXX to the Wells Fargo Mortgage response letter dated XXXX XXXX, 2016. Wells Fargo 's research was incomplete and inaccurate in the evidence it outlined supporting their position on pursuing foreclosure to my property. They did not document in their letter all recorded conversations with all of the representatives which were assigned to my case ; the recordings would show that what the representatives communicated to me by phone was not reflected in the letters sent by Wells Fargo. Not all of the letters sent by Wells Fargo were included in the documentation outlined by the bank ; such as the two letters dated the same date of XXXX XXXX, 2016. One was from my representative outlining the procedure for a loan modification and one from the attorneys at Wells Fargo indicating the bank was accelerating foreclosure on my property. The other letter which is questionable and listed in their documentation was the letter dated XXXX XXXX, 2016 which I received a week after the aforementioned letters. This letter informed me that my Disaster Relief Program had ended in XXXX, 2016, yet I received the letter in XXXX. Wells Fargo claims it was just a administrative error and the letter was not generated in a " timely manner ''. That is a huge administrative error! How can my representative send me a loan modification packet dated the same date as the attorney 's letter announcing accelerating foreclosure with a sale date of XXXX XXXX, if Wells Fargo was honestly going to consider me for a loan modification? It would only give me about 3 weeks to submit all the necessary paperwork, wait for their decision, and then if declined scramble to come up with all the money necessary to reinstate my loan. Also, the date of the property inspection for foreclosure listed in the Wells Fargo letter was misleading ; they listed XXXX XXXX, 2016 and the company that came out to take photos of my property came out on XXXX XXXX, 2016 while I was still technically in the Wells Fargo Disaster Relief Program. I personally believe that Wells Fargo continues to be the " bully of foreclosures '' knowing they are protected by the federal courts and therefore get away with deceptive, misleading tactics towards their mortgage customers who are struggling financially. I think the company seeks to put consumers in their Disaster Relief Program with the hidden intent of pursuing foreclosure, especially with properties that have substantial equity, as with my property. Those who have experienced a natural disaster and are trying to repair and rebuild their homes are weary and susceptible. They are vulnerable to companies claiming to want to help them during their difficult situation ; yet these companies are carefully calculating how they can profit from a consumers misfortune. I would like to see XXXX pass legislation that would require mortgage lenders to approve loan modifications to consumers that are in their Disaster Relief Programs.

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