Consumer complaint received 2016-05-26
Company: WELLS FARGO & COMPANY
State: MD
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
My case keeps getting closed by CFPB without any action or response by Wells Fargo. So here I go again : Describe what happened so we can understand the issue ... 
I have been trying with no success in endeavoring to obtain a loan modification since XX/XX/XXXX. I am in the real estate business ( I am an attorney ) and thus, am very knowledgeable on what a successful loan modification submission should entail. That said I have now definitively learned that no matter what my financial where wherewithal is ( and it is very, very solid currently- I can easily make my full payments even if no modification is offered ) I now learn that Wells Fargo `` does not have the contractual authority to modify ( my ) loan because of limitations in our servicing agreement. '' ( See attached " Letter of Denial '' dated XXXX XXXX, XXXX ). It is worth noting that such disclosure relative to Wells Fargo 's lack of loan modification participate was not disclosed to me prior my purchase in XX/XX/XXXX, a clear RESPA violation, nor was this non-participation disclosed to me during the over XXXX loan modification submissions I have submitted since XX/XX/XXXX. It is also worth noting the Well Fargo has retained this loan since the time of inception- it was not sold to any other third party nor has it been serviced by any other lender than Wells Fargo Home Mortgage . 

In addition, after making 6 straight payments of {$3300.00} each from XXXX XXXX, XXXX through XXXX XXXX, XXXX, which they informed me they are retaining, and also that they are moving forward with the foreclosure sale. Despite retaining these monies, Wells Faro has refused, and continues to refuse, to provide me with an IRS XXXX Mortgage Interest Statement as required under Federal law, despite numerous requests that they do so. As a result I am not able to file my taxes, causing me great personal hardship and concern. 
Their actions are reprehensible. They humiliated me and compelled me to reveal all of my financial dealings, even having their personnel call me ( usually on the weekend, which seems to be their M.O. ) for more details, knowing full well that at the end of the day, what I was seeking ( merely to retain my home which I had put down XXXX on in XX/XX/XXXX ) was impossible. So they take my money, they take the Obama money, and bulldoze my rights. If it was impossible for me to EVER obtain a loan modification, why act like it was feasible. It is and was cruel on their part, time consuming, and conduct one would not tolerate from a 6 year old, much less a XXXX XXXX firm. Shame on Wells Fargo, and shame on us all. 

Finally, after agreeing in open court in XXXX XXXX v. XXXX XXXX XXXX, XXXX XXXX County Circuit Court case no. XXXX to conduct a real, bona fide appraisal instead of a drive by curb appraisal, and having me split the cost of said appraisal, they ended up doing a drive by without any evaluation being done on the inside. I had pledged to the Judge to let the appraiser into the property but was never afforded an opportunity. As such the out of State , drive by appraisal came in over {$300000.00} MORE than the property is worth. So their inaccurate information now leads to WF erroneously believing that they can obtain a better price at a foreclosure sale after lying to the court about doing obtaining a real and proper appraisal. 

The lesson here : Wells Fargo can lie to the Court, not respond to CFPB, collect mortgage payments but issue no IRS XXXX forms, and there is nothing anyone can do about it.

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