Consumer complaint received 2018-01-24
Product: Mortgage — Other type of mortgage
Issue: Trouble during payment process — 
Company: WELLS FARGO & COMPANY (CA)

XX/XX/XXXX To whom it may concern ; I originally complained to CFPB ( and at that time only the CFPB ) in XX/XX/XXXX. This is a new complaint with updated information. 
In the interest of help and relief from the ongoing fraud that I suffer at the hands of Wells Fargo I am providing this complaint to relevant state authorities as well as the CFPB My original complaint was side stepped by Wells Fargo without even answers to basic questions about the loans. ( Details are provided further in this complaint ) Since my original complaint the sheer volume and size of the fake accounts and other criminal behaviors of Wells Fargo on a nationwide basis have had considerable additional exposure. 
On XX/XX/XXXX Wells Fargo themselves sent me a direct email correspondence admitting to false account creation and promising to rectify. This email was not about my accounts specifically but rather the entire Nationwide fraud that Wells Fargo had committed. 

I AM A VICTIM OF FALSE ACCOUNTS I file this complaint as I have exhausted every other attempt to rectify a great economic injustice, more accurately described as a deceptive ongoing theft, that I have been and continue to remain the victim of. This financial crime has, to this point, cost me about {$300000.00} by my rough estimate but could perhaps be as much as {$500000.00}, maybe even more. Despite several requests Wells Fargo has refused to provide accounting that will reveal the full scope of Wells Fargo unethical and illegal behavior. As part of this complaint I will be asking Wells Fargo and its predecessors, the perpetrator of this deceptive economic deception, fraud, and financial chicanery to fully account for the amounts they have effectively stolen, and continue to steal from myself, and by extension my wife and children. 
From this point forward, every reference to Wells Fargo is also a reference to any predecessor names associated with Well Fargo. 

From around XX/XX/XXXX to about XX/XX/XXXX I obtained XXXX different mortgages from Wells Fargo and or its predecessors. Each of these loans were a Pick a Pay loan. These loans were used to create a deceptive environment, and that deceptive environment could then be used to unfairly manipulate the borrower into a variety of subsequent arrangements, none of which were advantageous to the borrower. 
Wells Fargo and its predecessors have acknowledged such deceptive behavior and reached multiple settlements as a result. 
Wells Fargo has already set aside several XXXX XXXX dollars in various funds to deal with and mitigate the flurry of complaints and actions by federal and state regulators. 
Wells Fargo, while maintaining a public posture that they are repentant of such past behaviors and are actively seeking to remedy the negative effects on there past victims are in fact actively engaged at denying relief to as many of those victims as they can. I am one of them. 
What Wells Fargo has not done is to address any complaint it could sweep under the regulatory rug. I am one such example. I am certain that I am only the very tip of the iceberg. 
The XXXX loans currently ( As of XX/XX/XXXX ) have these loan numbers ; XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX When the above referenced loans originated they were set with various margins added to various indexes of market rates for the cost of borrowed funds. 
The payment features on these loans allowed a borrower to pay less than the interest due each month thus creating negative amortization. 
The effect of this was that during the initial years of the loans the principal balance on the loans would grow larger. 
In XX/XX/XXXXthe hook was fully set. A large increase in the index used to set the monthly interest rate brought the effective interest rates on the loans to amounts between XXXX and XXXX percent. Coupled with rapidly rising principal it was clear that all properties would be lost, and if not lost all borrower equity would by stripped. 
This was precisely the deceptive environment that Wells Fargo had maliciously created that would allow them to take advantage of distressed borrowers. 
Borrowers distressed due to the deceptive loans that they had marketed. 
About XX/XX/XXXX I received an unsolicited phone call from Wells Fargo. It is important to repeat the key word : UNSOLICITED. 
The caller said that it was very clear that interest rates were going to continue to skyrocket and that I had no choice but to take a rescue plan to change the rates to a fixed 6.36 % Believing that the caller, Wells Fargo, was ultimately in the drivers seat I felt I had no choice but to comply with demand. It was a demand. It was framed as an offer but the nature of the call, the urgent implied message of impending disaster, etc. effectively rendered it nothing short of a demand. 
Wells Fargo knew that I was already snared in deceptive loans. Wells Fargo was already in multiple litigations and settlements with various state and Federal agencies over the very loans I was ensnared by. 
Wells Fargo deliberately and completely unsolicited by me coerced me by way of intimidation and implied economic devastation to take the Wells Fargo rescue plan. 
When Wells Fargo made the unsolicited phone call to use fear followed by seductive rescue I was not late or behind in any payment nor had I been late or behind at any point. They had no reason to place the unsolicited phone call other than to take advantage of what they knew was a likely distressed borrower. 
As I had not at any point been late with any payment how could they reach such a conclusion? It is simple ; Wells Fargo was well aware of the toxic deceptive environment. 
Wells Fargo had created it! 
In late XX/XX/XXXXI was officially a Wells Fargo victim for the second time. 
The first time at the origination of the deceptive predatory Pick a Pay loans. 
The second time when I was duped and manipulated into a Wells Fargo rescue plan that I neither needed or solicited. This was very important to Wells Fargo legal strategy as well as financial strategy. They were engaged in settlements with borrowers whom had Pick a Pay loans. By removing me from that loan category they could now hide me from the settlement over the toxic Pick a Pay loans. I am certain I am not the only one just as I am certain about the deceptive strategic motives of Wells Fargo in the unsolicited approach to coerce me into even a worse position. 
It did not take long for me to regret what had occurred. The economic crisis of XX/XX/XXXX hit and I nearly lost everything including my life and my family. The burden from Wells Fargo became a torment that would never end ( and that burden continues to this day ) costing me a solid {$5000.00} a month in cash flow and forcing me to economic decisions that I could best liken to an economic XXXX 's choice. That I have remained alive despite the daily unrelenting Wells Fargo stress is by no means a small miracle. My health has been greatly compromised in the last decade and I place XXXX XXXX induced stress as the primary causative agent. 
I made several attempts to contact Wells Fargo to rescind the coerced agreement. The requests were always meet with aloof intransigence. 
Finally, I sought legal assistance. In XX/XX/XXXX my attorney XXXX XXXX asked Wells Fargo for either assistance or to rescind the agreement in which I had been deceptively, unfairly, and with duplicitous mal-intent coerced into. 

What the efforts from my attorney brought from Wells Fargo were endless documentation requests. 
After months of nonstop requests, the outcome was one of these two effects ; 1 ) I was not sufficiently economically stressed for assistance.

OR 2 ) My economics were too stressed to justify the risk of any loan modification, HAMP, or rescinding of the deceptively attained agreement of XXXX. 
In short Well Fargo now having me trapped gave me the equivalent of the extended middle finger. 
I have continued to dispute the origination of the XX/XX/XXXXagreement. I have approached Wells Fargo more than once. 
In street talk parlance they have me by the balls and have no intention of letting go. 
They have already admitted guilt in numerous criminal schemes and conspiracies during this period. 
On XX/XX/XXXX Wells Fargo themselves sent me a direct email correspondence admitting to false account creation and promising to rectify. This email was not about my accounts specifically but rather the entire Nationwide fraud that Wells Fargo had committed. 


I ask your agency to help accomplish the following ; 1 ) I want Wells Fargo to calculate the balance of the loans if the agreement I was deceptively coerced into in XX/XX/XXXXhad not occurred. In other words, the terms of the loan remain as originally signed at origination and each of the payments I have made are calculated using the original calculation formulas. 
2 ) I want Wells Fargo to adjust the principal balance of the loans to match the number obtained in request one.

3 ) I want Wells Fargo to admit and apologize for the deception and coercement of XXXX. 
4 ) I want Wells Fargo to refinance my loans AFTER the proper balance is set to the exact same rate as if the loans were eligible under the HARP program. 
If Wells Fargo promptly meets the requests above, I will sign a full release including a confidentiality non-disclosure agreement. 
If your agency wishes my testimony I am quite willing to come to any location in the United States to provide evidence and testimony. 
Please note the following ; This updated complaint from my prior complaint in XX/XX/XXXXto the CFPB includes my request, again, that Wells Fargo to calculate the balance of the loans if the agreement I was deceptively coerced into in XXXX had not occurred. In other words, the terms of the loan remain as originally signed at origination and each of the payments I have made are calculated using the original calculation formulas. 
They have IGNORED this request, repeatedly. They do not want to quantify the theft. 

I kindly ask that you assist in demanding Wells Fargo provide this information. 

Banks are required to keep records for at least 30 years. Please initiate a full discovery action to find all records to the false accounts, created by way of undue cohesion, that were foisted upon me. 


Sincerely, XXXX XXXX XXXX