Consumer complaint received 2022-12-08
Company: WELLS FARGO & COMPANY
State: GA
Product: Debt collection
Sub-product: Mortgage debt
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
Two day ago I talked to another XXXX  employee of Wells Fargo Bank who had never been trained to underwrite a VA HAMP modification and as a result he understand did not the requires of the program of XX/XX/XXXX, VA Circular 26-10-02 that was a modification for Dept of VA loans that was a 40yr term with interest rates as low as 2 % interest rates. 

This XXXX XXXX  XXXX  I was talking to brought up a standard trick and said that I did not supply updated financials for the modification that they never started as they stopped processing VA loan for HAMP at some point in XXXX, which they received my financial documents on or about XX/XX/XXXX. Wells used the tactic of saying that homeowners did not supply them with financial document when they were actually receiving the information, when in fact it was received on or about XX/XX/XXXX, which Wells admits to receiving and admit to not processing the loan, and as the information of my wife nor my income changed and the new VA HAMP would have accepted the financials already received to be used in the underwriting of the XX/XX/XXXX effective date VA HAMP.

Wells wants to use that financial were not updated when in fact they did not start processing VA HAMP until after XX/XX/XXXX. Updated information was supplied to Wells personnel XXXX before the foreclosure as it was send directly to her computer which a conformation was received, however she did not admit to receiving it! However, it did not matter because Wells was not processing any Dept of VA loan for the VA HAMP at the time. 

Also this XXXX I was talking to a couple of days ago from Wells about this latest response, telling me I had not provided Wells with updated financials but he never read XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX  XXXX, " Evidence of Income '' That says that, The income evidence and financial information provided by the borrower may not be more than 90 days old as of the Initial Package is receive by the servicer. The initial package was received by Wells on XX/XX/XXXX & XXXX, XX/XX/XXXX, which would have had an expiration date of XX/XX/XXXX, yet the foreclosure was XX/XX/XXXX, plus the fact that the financial update was fax to XXXX XXXX before the XX/XX/XXXX foreclosure. 

So the XXXX XXXX XXXX XXXX XXXX XXXX  ) understanding these facts and awarded me {$6000.00}, however, the issue of one of the initial payoff category in " No Standing '' was deleted from the final agreement in XX/XX/XXXX, and homeowners were told to take the matter up on your on and receipt of any payouts has no bearing on future settlement on the No Standing. 

By not granting me a VA HAMP modification as with the several thousand of bankruptcy victims in the two class actions brought by XXXX and XXXX who were protected by TARP as military families not granted a VA HAMP. So as the Dept of VA was criminal violated by Wells so was I as my property was sold as my equity from month mortgage payments and the fact that XXXX could not complete the mortgage loan contract after XX/XX/XXXX, because they stopped existing and neither XXXX  XXXX, Wells Fargo Bank or XXXX XXXX purchase the loan debt, means they had no financial interest in the loan! 

Wells will not provide a document that sold the mortgage loan because one does not exist and they have no financial receipt of a payment made. XXXX purchase my loan on XX/XX/XXXX, and did not receive from XXXX XXXX XXXX  the required Assignment of Deed of Trust they were required to create and have delivered to XXXX XXXX XXXX XXXX XXXX XXXX at the point of sale. XXXX address the failure by XXXX XXXX XXXX  who later recorded a Power of Attorney ( XXXX ) as to failing to create Assignment per correspondent agreement between the two and was not recorded until Wells was at the end of transferring a XXXX of XXXX 's XXXX XXXX pooled from XX/XX/XXXX through mid XX/XX/XXXX. In XX/XX/XXXX the POA was recorded at XXXX XXXX. 

Understand that Wells is not working as servicer for XXXX after XX/XX/XXXX, because the XXXX does not exist! On XX/XX/XXXX Wells had the Assignment of Deed of Trust XXXX signed by the outside law firm in XXXX XXXX XXXX that employee attorney XXXX XXXX acting as Assistance Secretary for XXXX  as if XXXX  has a financial interest and working for a active member of XXXX  which XXXX was not. The trick was to act as if XXXX XXXX was still a financially interest party and say they were transferring to Wells as if Wells purchased the loan when in fact they did not. 

There is not need for Wells to ever be place as the " holder in due course '' when they are not the owner, as there no requirement for the owner bank to personally appear just as Wells was not personally at the foreclosure on XX/XX/XXXX. The XXXX  I talked to a couple days ago fails to understand that XXXX XXXX is never the originator, seller or buyer of a home mortgage loan, yet this XXXX said to me that from the beginning XXXX XXXX is the owner/investor of my loan. XXXX was never told that all Dept of VA loans originated by a bank is done with the bank 's private funds and only does XXXX get involved is when a bank XXXX pools the loan. The XXXX  does not understand that the originator is not authorize XXXX XXXX to pool VA loans and it not until XX/XX/XXXX when XXXX is involved as the insure of the securities only! XXXX XXXX is not funded by the US Government to fund mortgage loans and can not at the beginning of this as he has stated be involved with my loan. Not all VA loans are XXXX pooled but 96 % are pooled but this is done after the after the loans are funded by the lender and then submitted for pooling underwriting as my loan was underwritten on XX/XX/XXXX and accepted into XXXX XXXX XXXX XXXX! 

So here we are again with Wells having to pay up to {$2.00} XXXX for abuses of Mortgage customers according to XXXX XXXX Update, and because of the two class actions they seen that the military families were also protected under XXXX when we were not granted VA HAMP during XXXX as part of the victims in XXXX and XXXX! 

One more thing is the XXXX at Wells did not understand Circular XXXX The VA HAMP refunding program provides for a fixed interest rate, with a floor of two percentage for the life of the loan ; a maximum term of up to 40 years ; and principal deferment when appropriate.

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