Consumer complaint received 2021-05-12
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
XX/XX/XXXX XXXX XXXX Response to Wells Fargo Home Mortgage In response to their most recent, XX/XX/XXXX correspondence RE : WELLS FARGO HOME MORTGAGE IN VIOLATION OF THE XXXX CARE ACT Letter and documents included with this correspondence : Wells Fargo Home Mortgage ( fax : XXXX ) XXXX XXXX, Wells Fargo XXXX XXXX Wells Fargo Investor Relations XXXX XXXX Florida Wells Fargo Media XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : XXXX Consumer Financial Protection Bureau XXXX XXXX : XXXX ) Florida State Attorney Office ( online complaint form ) Media Coverage : XXXX ( media coverage with similar complaints on Wells Fargo violation of CARES ACT XXXX XXXX XXXX media coverage with similar complaints on Wells Fargo violation of CARES ACT ) XXXX XXXX media coverage with similar complaints on Wells Fargo violation of CARES ACT ) To Whom It Concerns : One of the reasons I continue to file complaints against Wells Fargo Home Mortgage is the flagrant and duplicitous response to my previous requests. This is my third Consumer Financial Protection Bureau complaint given the previous responses are rife with inaccuracies and false justification for not doing the right thing as required by the XXXX CARES ACT. 

All I am asking is for Wells Fargo to correctly post my mortgage payments and to honor their words to me. In both of my conversations with the Wells Fargo Customer Service representatives, it was agreed that under the XXXX CARES ACT, my deferred payments would be placed at the end of the loan. Instead, Wells Fargo incorrectly posted my payments to the deferred months, demanded a lump sum payment of the deferred amount and provided incorrect information to XXXX XXXX XXXX, the company Wells Fargo sold my mortgage to on XX/XX/XXXX. 

Yet, Wells Fargo representatives continue to construct false reasons to not honor their commitments in spite of the copious documentation provided. 

Wells Fargo continues to be in violation of the XXXX CARES ACT and, if history is like prologue, will continue to manufacture reasons for their noncompliance. This is an institution with a culture of noncompliance. 

Included in this letter are web links to media outlets ( i.e. XXXX, XXXX and XXXX ) who have all done coverage on Wells Fargo non-compliance regarding the XXXX CARES ACT. Each of these media clips expose nearly identical issues that I am currently dealing with. Each time I reach out to the Wells Fargo team, I receive a different excuse ( their timeline and documentation simply does not support their position ). 

Below are the key facts : 1. Wells Fargo acknowledges my mortgage deferral requests were approved under the XXXX CARES ACT for six months ( approved for months XXXX, XXXX, XXXX, XXXX, XXXX, XX/XX/XXXX ( reference XXXX Wells Fargo letter ) 2. Wells Fargo Customer Service Representatives CONFIRMED TWICE the deferred payments would be placed at the end of the loan ( XX/XX/XXXX to XX/XX/XXXX ). 

3. On XX/XX/XXXX I submitted my first post-agreement mortgage payment. It should have been applied to XXXX but it was applied to the XX/XX/XXXX payment that was deferred and due at the end of the loan. 

4. In addition to the misapplication, the deferred months are noted in my Wells Fargo credit history as delinquent ( 83-150 days ). 

XX/XX/XXXX CARES ACT Approved for deferral on XXXX Wells Fargo agreed to post to end of loan XX/XX/XXXX to XX/XX/XXXX On XXXX my payment incorrectly applied to XX/XX/XXXX XX/XX/XXXX CARES ACT Approved for deferral on XXXX Wells Fargo agreed to post to end of loan XX/XX/XXXX to XX/XX/XXXX On XXXX my payment incorrectly applied to XX/XX/XXXX XX/XX/XXXX CARES ACT Approved for deferral on XXXX Wells Fargo agreed to post to end of loan XX/XX/XXXX to XX/XX/XXXX On XXXX my payment incorrectly applied to XX/XX/XXXX XX/XX/XXXX CARES ACT Approved for deferral on XXXX Wells Fargo agreed to post to end of loan XX/XX/XXXX to XX/XX/XXXX On XXXX my payment incorrectly applied to XX/XX/XXXX XX/XX/XXXX CARES ACT Approved for deferral on XXXX Wells Fargo agreed to post to end of loan XX/XX/XXXX to XX/XX/XXXX On XXXX my payment incorrectly applied to XXXX, XXXX XX/XX/XXXX + subsequent months -- -- -- -- -- -- -- -- My first post-CARES ACT payment towards mortgage Wells Fargo : starting in XX/XX/XXXX incorrectly starts demanding LUMP SUM PAYMENT ( eventually posts {$7200.00} in arrears, XXXX, the new servicer in XX/XX/XXXX demands {$8100.00} ) 5. Even after Wells Fargo is notified, rather than correct the misapplied payments, Wells Fargo continues to show a demand for a LUMP SUM PAYMENT and records which show my mortgage was in five months default during this time period. 

6. THIS IS IN DIRECT VIOLATION OF THE TERMS AND CONDITIONS OF THE XXXX CARES ACT FOR XXXX XXXX SERVICERS. 

Specifically, if the bank and borrower can not agree on the terms or communication, the bank must provide the term requested by the borrower ( not to exceed 180 days XXXX ; ( XXXX XXXX Reference Guide, page 2, last paragraph ). 

ADDITIONALLY, UNDER THE XXXX CARES ACT, THE BANK CAN NOT DEMAND LUMP SUM PAYMENTS. PERIOD. THE BANK CAN NOT JUST ARBARITRAILY DECIDE THE BORROWER IS NO LONGER ELIGIBLE FOR THE CARES MORTGAGE RELIEF. 

7. During my initial requests for the CARES mortgage relief, I was in bankruptcy which is why much of this correspondence was sent to my attorney, XXXX XXXX, P.A. At the time of my requests, Wells Fargo approved the deferrals and sent notifications to the XXXX Bankruptcy Court as required. The XXXX Bankruptcy Court did not require any additional documents for approval. 

Now for some reason the Wells Fargo Executive Office Representative, XXXX XXXX claims the deferred payments are null-and-void due to missing paperwork from my attorney. XXXX XXXX, Esquire and I are unaware of any additional reporting requirements to Wells Fargo regarding the approved deferred payments. 

8. If, as the bank claims, no response was received for other necessary approvals ; then, Wells Fargo should have initiated skip trace activities for verification of receipt of correspondence ( as outlined in the XXXX XXXX Reference Guide ). 

Wells Fargo never sent a certified or registered letter and instead now claim in their XX/XX/XXXX letter that on XX/XX/XXXX their approval on my CARES ACT mortgage deferral has been removed from the COVID-19 forbearance ( this XXXX correspondence was never received by myself or my attorney, XXXX XXXX, XXXX. ). 


However, I have a Wells Fargo letter dated XX/XX/XXXX stating the following : XXXX XXXX XXXX Thank you for connecting with us. You are approved for a COVID-19 payment deferral, and we will defer the payments missed during the payment suspension period to bring the mortgage current.upon the maturity date of the mortgage or earlier upon the sale or transfer of the property, refinance of the mortgage loan, or payoff of the interest-bearing unpaid principal balance, the outstanding missed payment amount will need to be repaid. 

In spite of this XX/XX/XXXX Wells Fargo correspondence, the bank continued to post my payments incorrectly and demand a lump sum payment. 

9. On XX/XX/XXXX Wells Fargo sold the mortgage to XXXX XXXX XXXX ; only at the end of XXXX did I receive correspondence from XXXX XXXX XXXX informing me my loan had been sold, was in serious default and the company had submitted a Pre-Foreclosure request with the XXXX Bankruptcy Court and demanded a lump sum payment of {$8100.00} ( based on the information provided by Wells Fargo ). 

10. Multiple times in XX/XX/XXXX and again XX/XX/XXXX, I have reached out to Wells Fargo and XXXX XXXX XXXX Wells Fargo has stubbornly refused to correct their records. XXXX XXXX XXXX has acknowledged my documentation and is in the process of trying to correct their records. 

It has taken countless hours to clarify my account status with XXXX XXXX XXXX. It is continuing to take me hundreds of hours to address the incorrect position that Wells Fargo has taken on my account. 

Until Wells Fargo shows the correct payments on my account and accurately honors the XXXX CARES ACT, I will continue to file Consumer Financial Protection Bureau complaints and will now escalate to the media if this is not immediately resolved. 

There is absolutely no reason ANY CUSTOMER should have to endure such a dismissive and frustrating treatment ; particularly, during a time our Country and Congress passed laws to help alleviate the pain and suffering due to Covid-19 and this historic pandemic. 

Wells Fargo, kindly correct the payment history and honor the XXXX CARES ACT Terms and Conditions. 

As always, XXXX ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, FL XXXX XXXX XXXX Documentation : 1. XX/XX/XXXX Wells Fargo letter from XXXX XXXX 2. XX/XX/XXXX Wells Fargo letter approving the COVID-19 payment deferral 3. XX/XX/XXXX Wells Fargo letter from XXXX XXXX 4. XX/XX/XXXX XXXX XXXX letter to Wells Fargo CEO, CFPB 5. XX/XX/XXXX XXXX XXXX letter to Wells Fargo and XXXX XXXXXXXX XXXX 6. XXXX XXXX Reference Guide : XXXX CARES ACT 7. Wells Fargo Customer Account Activity Statement 8. Wells Fargo Loan Credit Status Reporting History ( shows 83-150 days late ) 9. XXXX XXXX Wells Fargo Mortgage Statements 10. Valley homeowner battles Wells Fargo over mortgage agreement ( XXXX ) 11. XXXX XXXX COVID-19 Payment Deferral Bulletin XXXX

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