Consumer complaint received 2018-06-01
Company: WELLS FARGO & COMPANY
State: SC
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
In XXXX, I received notice of a large amount of back taxes on my property. I was offered the option to pay in full or have my monthly mortgage payment increased ( substantially ) in order to pay the taxes. Financially, my husband and I were unable to do either of these options. Therefore, I reached out to my mortgage company ( Wells Fargo Home Mortgage ) to see what we could possibly do. I was given the opportunity to speak to someone in their Home Preservation Department.

I spoke with a very empathetic and knowledgeable specialist, XXXX XXXX. She explained what a home loan modification was and the steps needed to proceed. I understood that I would essentially be applying for a home refinance and that investors would have to look at my credit/mortgage payment history, income, financial need, etc. I asked XXXX about the ramifications of the process. Obviously, a refinance starts you over at square one - which I fully understand - but, I was also concern about my credit report ( it was not great by any means, but was decent and something I have been working one ). She said that because I would not be paying my next schedule loan payment as they began the modification process, that ONE ( 1 ) delinquent payment would be reflected on my credit report. That is something I can deal with. I would also go through a probation period where I would make the new payments before the modification was fully approved to show that I could and would make the new payment ... that this modification was a worthwhile investment. We decided that loan modification sounded like the best option for us and proceeded under the guidance of XXXX XXXX as our Home Preservation Specialist. 

Fast forward a few months to XX/XX/XXXX where I began receiving notifications in the mail from Wells Fargo Home Mortgage that my account was past due ( they provided me with foreclosure materials ). I attempted to call and e-mail XXXX ... neither of which received a response ( e-mails I sent attached ). When she later made a phone call to me to update me on the process, she assured me not to worry about the notification - that it was essentially because a new loan was being created for me. Come XX/XX/XXXX, I received a certified letter from Wells Fargo Home Mortgage stating my loan was in default - this letter was received after I successfully completed my three ( 3 ) month probationary period of trial payments. Again, I attempted to reach out to XXXX via phone and e-mail ( attached ). In my e-mail I also expressed concern and asked again about my credit report suffering from the process. At this point, I had received several notifications that their were drops in my credit rating due to default payments to Wells Fargo Home Mortgage. The whole process made me nervous and as months went by I became increasingly concerned over my default status and credit score dropping. In the beginning of XX/XX/XXXX, I e-mailed her again making sure everything was going as it should and expressing concern over continued notifications of late loan payment and being in default. 

On XX/XX/XXXX, I received a phone call from XXXX XXXX that my loan modification was approved and in the final processing steps. I, again, expressed concern over my credit score and asked for confirmation that, once the modification was completed that my credit report would be adjusted by Wells Fargo to reflect ONE ( 1 ) default loan payment ( as discussed in our initial conversation about modifications and from there forward ). XXXX confirmed this and stated it may take a month or two to resolve and be reported correctly by Wells Fargo.So, everything seemed to be going great, and I just had to wait for the final approval and to receive my first " new '' mortgage statement. 

A few months went by, and I was still receiving " dings '' on my credit report ( even though I followed all instructions regarding payments during modification and am up-to-date to this day on my payments ). My credit report was and is still showing five ( 5 ) delinquent payments to Wells Fargo and has me rated as " Very Poor. '' I am not okay with this, as I have done everything I was asked and assured time and time again that only one default payment would be reflected on my behalf. I reached out to XXXX, again, on XX/XX/XXXX stating this same information ( e-mail attached ). Again, as with all of my concerning e-mails, I received no reply. 

Thinking, maybe just a couple more months need to pass for everything to be sorted out, I patiently waited and constantly checked for updates to my credit report - nothing! On XX/XX/XXXX I called the Wells Fargo Home Preservation phone number provided to me and spoke with whoever I could get. The lady was very nice as I briefly explained that I could not get in touch with my Home Preservation Specialist, XXXX XXXX. I provided her with her named spelled out and the extension number I was given to contact her. The representative tried to call XXXX 's extension, send an in-office instant message, and e-mailed her stating that I tried to contact XXXX with no success and for her to please call or e-mail me. I just wanted reassurance that my credit report would be corrected, and a specific time frame would be appreciated. Again, I have not heard from XXXX. 

I am only XXXX years old with XXXX young children. I have some XXXX XXXX XXXX   and some new ones developing. There is an XXXX XXXX XXXX   that I desperately would like to have done in order to improve my health and life expectancy. However, my insurance does not cover the procedure, and I am unable to get a personal loan due to the " delinquencies with my home mortgage '' as reflected on my credit report. Additionally, this is all being reflected on my father 's credit report because he signed the initial and modified mortgages with me. 

I do not like to " tattle '' on people or complain. Furthermore, XXXX was great to work with during the modification process. She, initially, kept me informed, eased me of my insecurities, and made the process flow smoothly. She helped me save my family 's home. I do not want to get her in trouble, but per the advice of a credit specialist that I had to reach out to, I deserve what I was promised. 

From a long-term Wells Fargo client, thank you for your prompt attention to this matter.

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 non-monetary relief