Consumer complaint received 2023-04-14
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY (NY)

Asking CFPB for there help, Wells Fargo answer is not Accurate, Factual and Disingenuous. 

I previously filed a complaint on XX/XX/XXXX Complaint ID # XXXX and on XX/XX/XXXX Complaint ID # XXXX but complaint gets closed out without me having a chance to respond and getting an answer back from Wells Fargo. 

This current complaint is in response to XXXX XXXX Answer to my complaint # XXXX on XX/XX/XXXX. 

I feel Wells Fargo errored in the denial of my Modification Per the SEC ; A quarterly filing with the Securities & Exchange Commission in XX/XX/XXXX revealed that Wells Fargo made an error in denying mortgage modifications to hundreds of borrowers. The securities filing says that Wells Fargo discovered a calculation error in its automated software for calculating whether a borrower should be offered more favorable loan terms in lieu of foreclosure. Wells Fargo says the error affected XXXX homes that were in the foreclosure process between XX/XX/XXXX, and XX/XX/XXXX. And as stated in above SEC complaint and numerous Law Suits against Wells Fargo for Denying Mortgage Modification due to a " Software Glitch ''. 

In Wells Fargo response they stated ; We wanted to speak with you directly but were unable to connect with you at the phone number ( s ) provided to us. 

I received a phone call From Wells Fargo on XX/XX/XXXX from XXXX XXXX at XXXX saying they are working on my concerns and need a little more time and will have an answer by XX/XX/XXXX, if you have any further question give me a call back at XXXX. 

At No Time did XXXX XXXX state he wanted to speak with you ( me ) directly. 
I returned XXXX XXXX call the same day on XX/XX/XXXX at XXXX but had to leave a message on his voice mail. I told him I received his call and I explained I was no longer seeking one part of my claim on # 2 Wells Fargo unauthorized charges ( fees ). In my research WF insurance Ins Fee was listed as Hazard Ins, as I looked into this, I established that the Hazzard Ins is actually Home Owners Ins. My Insurance Carrier who is the Company Insuring my property refers to it as Property Insurance due to the difference in terminology caused the confusion. 

After my Return Call to XXXX, he never called me back with further question, the next call I received was XX/XX/XXXX saying they reached a resolution to my complaint. How are they stating We wanted to speak with you directly but were unable to connect with you at the phone number ( s ) provided to us when they never said they wanted to speak to me directly and also that I never received a return call to the message I left XXXX on XX/XX/XXXX. I also received two letters from Wells Fargo Dated XX/XX/XXXX and XX/XX/XXXX and in Both letters never stated they wanted to speak to me directly. 

Now to the beginning of Wells Fargos answer, as I said I was dropping # 2 Wells Fargo unauthorized charges ( fees ) in that I determined the issue was in the terminology used to describe the Insurance fee. My Ins Company refers to it a Property Ins but Wells Fargo referred to it as Hazzard Ins. 

Next, Wells Fargo answer states HAMP denial was due to your modified payment amount would be more than 42 % of your monthly income, I ask Wells Fargo to produce the Documents they used to Determine this? 

I entered in the CPLR 3408, Court held a mandatory settlement conference in XX/XX/XXXX. Wells Fargo offered a Proposed Modification with a mortgage term of 40 years, a principal and interest of {$1300.00} with property taxes of {$640.00} and Hazzard Ins of {$130.00} for a total of {$2100.00}. In XX/XX/XXXX I submitted a yearly income as of XX/XX/XXXX of more than {$80000.00} or a monthly income {$8800.00}. Here Wells Fargo did not negotiate a modification in Good Faith How is a proposed modify monthly mortgage of {$2100.00} more than the HAMP 42 % guidelines on a monthly income of {$8800.00}? At that time, when I more than proved that I qualify for the HAMP modification, Wells Fargo came back and stated the investor does not participate in the program Next in Wells Fargos answer they state the investor of your loan did not participate in HAMP. If this was the case, why did Wells Fargo participate in prolong Modification Negotiations of over 1 year? 

This is another part of Wells Fargo did not negotiate a modification in Good Faith ( part 2 ) Why did Wells Fargo give me a Proposed Modification with a term of 40 years, with monthly payments of {$2100.00} reduced from my original mortgage payment of {$3500.00}? All Wells Fargo did by Falsely Negotiate a Modification under CPLR3408 for over 1 year is rack up more mortgage payments, interest, penalties and fees making it harder for me to get a loan modification by other means. Also, by Wells Fargo Falsely Negotiating a modification for over 1 year it cost me Legal Fees during the ongoing negotiations. 

Even though Wells Fargo denied my modification due to the investor of your loan did not participate in HAMP we continued to negotiate a modification through Wells Fargo who did participate in HAMP. In XX/XX/XXXX Wells Fargos Attorney who Wells Fargo referred to as Mediation Counsel in review of all the documents, asked them to reconsider their HAMP Denial. Why would Wells Fargo own Mediation Counsel ask Wells Fargo to reconsider? Because he saw through the documents submitted including Wells Fargos Proposed Modification that I qualified under the HAMP guidelines.

Again, Im asking Wells Fargo to produce the papers that they used here to determine that I did not qualify under the HAMP 42 % guidelines.

Im Aware the SLS is the servicer of the Loan since XXXX but the period of time Im referring to is the CPLR 3408 Court held a mandatory settlement conference starting in XX/XX/XXXX and going into early XXXX. 

Conclusion : 1 ) CPLR 3408, Court held a mandatory settlement conference in which Wells Fargo did not act in good faith in negotiations and improperly denied me a mortgage loan modification. Due to an error by Wells Fargos Software Glitch they in error denied me a mortgage modification as argued by my attorney and as by Wells Fargos own Attorney Mediation Counsel asking XXXX and Wells Fargo to reconsider their denials.

2 ) Wells Fargos answer is not accurate and disingenuous and Im asking CFPB help to look into my claim. 

Thank you