Consumer complaint received 2016-12-12
Company: WELLS FARGO & COMPANY
State: MA
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Application, originator, mortgage broker

Complaint:
I would like to begin on page XXXX of Fannie Mae ( FHA ) application Case No. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX is listed as {$0.00} As I have previously noted, most loans and/or non real estate debts are huge factors that bring your credit score down and prove to the lender that you are " not creditworthy. '' In the case of a reverse mortgage, the lender wants to see the reverse of a creditworthy applicant to gauge the borrowers inability to maintain the property, pay homeowner 's insurance, and PAY THE PROPERTY TAXES. Wells Fargo ran my credit to ensure that I was a great risk of NOT having the means to keep up with the various requirements of my Reverse Mortgage. In an obvious attempt to deceive the FHA, Wells Fargo indicated that I was " debt free. '' I have previously indicated that my credit score as of XX/XX/XXXX was considered to be extremely poor. I had non-real estate debts totaling in the tens of thousands of dollarsand a lien against my property from a XXXX credit card. I also had a car repossession in excess of {$18000.00}. I will obviously submit a copy of my credit score as of XX/XX/XXXX. As I have previously indicated, a level XXXX aggressive spreading XXXX and the protocol of XXXX sessions are enough to put anybody into debt, but Wells Fargo still scammed me and are now foreclosing on my home. I 'll be more than happy to sit down with the XXXX Attorney General along with any lawyer from XXXX. XXXX XXXX states " If you answer yes to any questions athrough j, please use continuation section ( page XXXX ) for explanation '' There are XXXX YES answers that are not indicated or explained on page XXXX. Most importantly, page XXXX clearly states that I had {$.00} for AMOUNT OF MORTGAGES AND LIENS and the UNPAID LOAN BALANCES total {$.00}. XXXX explanation of " benefits of my reverse mortgage was to pay EXISTING MORTGAGES '' In another attempt at falsifying the FHA application, it indicates that I did n't have any pre-existing MORTGAGES or LIENS. 
Page XXXX NOTE : FHA insures reverse mortgages for one-to-four-family units under provisions of section XXXX of the XXXX ( XXXX XXXX, United States XXXX, Section XXXX et seq. ). 
Public reporting burden for this collection of information is estimated to average XXXX hour per response, including time for reviewing instructions searching existing data sources, gathering and maintaining the data, and completing and reviewing the collection of information. 
Continuation Section/Residential Loan Application for Reverse Mortgages Use this continuation section if you need more space to complete the Residential Loan application. XXXX XXXX for borrower or C for XXXX. The Borrower is not marked as B, but does list ( me ) XXXX the Agency Case Number : XXXX XXXX, and Lender Case Number : XXXX Use this continuation section if you need more space to complete the Residential Loan application. The continuation section is XXXX XXXX. 
At the bottom of page XXXX it states " I/We fully understand that it is a federal crime punishable by fine or imprisonment, or both, to unknowingly make any false statements concerning any of the above FACTS as applicable under the provisions of title XXXX, United States XXXX, XXXX XXXX, et seq. '' Below the federal crime warning is a box for theBorrower 's signature. 

XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX, and XXXX XXXX, Where 's my {$35000.00}? Both the CFPB and myself both have more fraudulent explanations from a XXXX XXXX who is alleged to be employed by Wells Fargo Bank as an XXXX Resolution XXXX. She indicates that each correspondence in response to her investigation are NOT for letters. 
I will have my investigation completed by XXXX XXXX, XXXX. In my 68 years, I have never experienced such deceit and fraud pertaining to my HECM.

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