Consumer complaint received 2018-01-19
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY (NJ)

XX/XX/XXXX Dear Customer Service Representative, Please allow this letter to serve as my complaint about the irregularities and lack of intention by Wells Fargo Home Mortgage, who act as the servicer of my loan. Irregularities and lack of intention, during the time I applied for a loan modification that put me in the position in which I find myself todays date of losing my home on foreclosure, with a date of sale on XX/XX/XXXX. 

With this complain I am only looking to be approved for a loan modification that will be affordable and sustainable over time. I dont want to lose my home and with it every thing in my life for what I have worked hard and diligently and unsuccessfully applied for a loan modification. 

I understand that the lender has no obligation to offer or grant a loan modification, but when the opportunity is offered and the application is accepted, the lender have a duty not to mishandle the application and not conduct the modification process negligently. 

As Senator XXXX states : Its unconscionable that something as dramatic as taking someones home can be done so cavalierly Unfortunately, Im losing more than my house over the servicers inability to offer a loan modification that will be affordable and sustainable over time. 
Besides the house I am losing my precious time, my mental well-being is affected, my stability and a huge amount of energy. 

If I had known that they would never offer me a modification that was affordable and sustainable over time I would have spent my time instead in my own business that I neglected because of this loan modification thing, which inflicted me a lot of emotional distress, for which I lost opportunities that would have allowed me to be in a better position todays date. 

-When I initially was qualified for a mortgage loan of {$41000.00} my adjusted gross income was {$17000.00}. My inability to repay was not taken into consideration and the mortgage was approved. 

By then, I was shearing financial responsibilities with my fiance and we were able to afford a monthly payment of about {$3.00}. Not too long after, we split and I was faced with these huge payments and with the responsibility of a daughter. 

This is what I diligently and unsuccessfully had done in hope to save my house through a loan modification : -I contacted the bank for more than 360 times via mail, fax and phone conversations. 

-I had deal with more than 18 home preservation specialists assigned to my case. 

-I drove all the way to XXXX for a Home preservation workshop. 

-I worked with HOPE -I also submitted an application through XXXX -I took the money management classes. 

-I sent all the documents on time and keep records of every movement : So, I contacted the bank for help and many times I was damage by the loss of the possibility of obtaining the requested relief ; instead this is what I got : -In XX/XX/XXXX I was approved for the HAMP with a trial period payments of {$1400.00} and a promise If you make those payments successfully and fulfill all trial period conditions, we will permanently modify your mortgage loan I made all of the required payments pursuant to the program, on time. 
At the end of the final month of XX/XX/XXXX, I began to call Wells Fargo, inquiring about when the Modification would be completed. The Wells Fargo representative told me that more time was needed to complete the process. I was instructed to keep on making the {$1400.00} payment, which I did it for 2 more months. 

I never got a letter indicating that the application for the HAMP was denial and why. 

In XX/XX/XXXX, after a trial period of 5 months and having filled all the conditions, I got a non HAMP loan modification package, which included monthly payment of {$2700.00} when my monthly income was {$4100.00}. This was 66 % of my income. 

This modification has no similarity with the one I complied with the trial period. 

- In XX/XX/XXXX I was approved again for a loan modification program with monthly payments of {$2400.00} My reported monthly income was {$4100.00}. It was unrealistic that I could afford that modification. 

If the debt-to-income ratio is one of the most important factors mortgage lenders use to evaluate the creditworthiness of borrowers. Why was I offered a loan modification that will take 59.77 % of my income and will put me in risk to be in default again? 

- In XX/XX/XXXX, after submitting documents to apply for a loan modification, I got a letter from Wells Fargo Home Mortgage stating how they used my self-employment and rental income for the calculation of the loan modification WF, averaged my monthly income from XX/XX/XXXX to XX/XX/XXXX and went all the way back to the XX/XX/XXXX income tax return to take {$3000.00} income from rent, which gave them an average of {$180.00} a month. 

Because of that calculation WF had determined they were unable to offer me the federal governments Home Affordable Modification Program.

The home preservation specialist was aware that I had and actual rental income of {$700.00}. Instead of use the actual rent at the time, he went 14 months back to use that income to make the calculation. 

Several months before I applied for this loan modification I had rented my garage for {$200.00} and a bedroom in my house for {$500.00} in order to be qualified for a loan modification and afford my new monthly payments. 

Letters from the servicer are sent all the time asking to let them know if the economical circumstances change to be reviewed again for a loan modification. Well, my circumstances had changed and they were not taken in consideration. 

-In XX/XX/XXXX documents to apply for a loan modification were sent. During one conversation with XXXX XXXX XXXX, he asked me to remove my daughter contribution of {$2400.00}. I refused because I new it will result in a loan modification denial. I sent the documents anyway including my daughters contribution, a letter of my daughter supporting that contribution and my banks statements supporting that amount, plus my income of {$3.00}. The total of my reported income was {$5800.00} InXX/XX/XXXX, I got a letter stating : Based on your documented monthly income, ( {$3000.00} ) we are unable to create an affordable payment that meets the requirements of the program. 

{$3.00} wasnt the income I documented, but the amount XXXX XXXX. For whatever reason considered to be appropriated. 

My question is : Did XXXX XXXX intentionally remove my daughter contribution, or was it an act of negligence? 
Either way or even if I had not qualified for the modification with my reported income, what was done is very questionable. 

OnXX/XX/XXXX, I sent a letter to XXXX XXXX requesting a writing explanation for the removal of my daughter income and no answer was ever received. 

OnXX/XX/XXXX I sent documents to apply for a new loan modification. That modification was denied due to the NPV calculation. 
I requested a proof of the NPV calculation and noticed that numbers in that calculation were not accurate. 

An appraiser was never sent to my house and the amount the bank used for that calculation was not the real market value of the house. This calculation also included a Homeowners Association fee. Those fees did not apply to my case. 

It seems to me that the home preservation specialist carelessly put numbers there, knowing that this action will impact somebodys life in a negative way. 

On XX/XX/XXXX. As per previous conversation with XXXX XXXX I sent a package of 53 pages for a new loan modification application. 

In the middle of XX/XX/XXXX, I got a phone call from XXXX XXXX who advised me that I was approved for loan modification, which included a principal reduction and a deferred amount. I was very happy and started waiting for the package to arrive to take a look to all those numbers, but it never arrived. 

I asked XXXX XXXX about the package and she told me that I wasnt going to get one, thats why she gave the details verbally. I got a letter only stating the amount of the monthly payments. 

In good faith I complied with all payments under the trial period. 

When the loan modification agreement arrived, the numbers didnt match with the ones XXXX XXXX and I agreed upon verbally, neither the numbers match with each other, which is an indication that they were changed. 

XXXX XXXX promised a benefit, which it was a principal reduction and Wells Fargo went back on that promise. I was very disappointed because unfortunately like many other occasions I had trusted on that promise. 

XXXX XXXX never denied that she promised a principal reduction. She was very caring, honest and helpful. I dont believe that she was the one who change that decision or intentionally lied to me. 

-On XXXX XXXX, XXXX, I send a package of documents to apply for a loan modification with XXXX XXXX XXXX . 

On XX/XX/XXXX XXXX XXXX sent me a denial letter stating that at that time I didnt meet the requirements for the Proprietary Step Rate Program. 

- For the fallowing reasons I believe he didnt have any intention to offer me a loan modification : -XXXX XXXX accused me through my lawyer of having made the numbers for my income without evidence to support them. This is a false accusation without a reason. I have evidence supporting every input in all income I reported. 

-It only took 4 days for him to make the decision. 

- In making the decision he only have in consideration one and only one number from my XX/XX/XXXX income tax ; he called that number adjusted gross income that number wasnt my adjusted gross income. He did not even choose the right number. 

Sadly only one figure of all those documents and numbers I provided was taking in consideration. 
I wonder why he requested all that information and documents if he didnt have the intention to use them? 

- I was never told that I was being considered for a Proprietary Step Rate Program instead of a loan modification. This is big deal lack of respect from XXXX XXXX. 

- He gave me 20 calendar days from the day of the letter to appeal his decision. 

The letter was sent to my attorney and he didnt tell me that I have 20 calendar days for an appeal. 
I was 3 days late when I faxed and mailed a package of 23 pages with the documents to appeal that decision and evidence supporting my actual income and my XX/XX/XXXX income tax. 
In return, I only got a letter staying the date the house was for sale. 

- It is my understanding that home preservation specialists have the authority to calculate the terms of the modification in a way they consider appropriate including a reduction of the principal if necessary. 
But the only option for XXXX XXXX was a flat rejection and a letter with a sale date of my home. 

On XX/XX/XXXX, I a letter was send from WF indicating all the options I had at the moment to keep my house and one of them was a loan modification. 

At that time I was emotionally involved in the illness of my only brother who was my responsibility 100 % and died on XX/XX/XXXX. My mother had also died not so long ago. 

I was very down emotionally and was invited to spend the holidays with my daughter in NC who moved there 2 years ago and havent had the opportunity to see my grandchildren since then. This was absolutely necessary for my emotional well-being. 

Due to this unexpected circumstance I did not have the opportunity to apply again for a modification, not knowing I should do it 30 days before the day of the sale of the house. I only saw the letter when I got back from NC Hopefully this letter expresses the reasons for my desperate need for help. 

Thank you for your time and cooperation to this important matter. 

Looking forward to hear from you. 

XXXX XXXX