Consumer complaint received 2018-03-25
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY (MD)

Good morning. This is my fourth and hopefully final complaint ( to you ; the courts are another matter ) against Wells Fargo. My prior complaints, # XXXX, filed XX/XX/XXXX ; # XXXX, filed XX/XX/XXXX ; and # XXXX, filed XX/XX/XXXX did no good ; Wells Fargo took our home in early XXXX. 

This complaint is significantly more straightforward. In my futile, multiyear attempt to wrestle a modification out of Wells Fargo, their rallying cry was that their agreement ( as servicer ) with their investor, RFMSI XXXX-S4 ( a Mortgage Backed Security of the sort that led to the economic crash of XXXX ) ( See Attachment 1, Letter identifying RFMSI XXXXS4 as holder of mortgage ) did not allow for such a modification ( See Attachment 7, Page 2 ). 

At that point, I asked Wells Fargo for a copy of this investor agreement and the investor 's contact information. They promised a response in 24-48 hours and never responded, so I undertook my own research. I discovered that : 1. The Truth in Lending Act, as amended, requires Wells Fargo to provide this information about my mortgage-holder/investor, RFMSI XXXX-S4, a mortgage-backed security. 

2. Servicers like Wells Fargo, faced with processing millions of foreclosures on bad loans they wrote to fill mortgage backed securities, routinely and falsely told borrowers that the mortgage holder did not allow a modification, as a means of expediting foreclosure ( See Attachments 2 and 3, Articles from ProPublica and XXXX XXXX XXXX XXXX ). In fact, almost all such agreements expressly allow modification. 

3. Despite Wells Fargos outright lie that RFMSI XXXXS4 was not a Mortgage-Backed Security subject to these provisions of the Truth in Lending Act ( See Attachment 7, page 3 ), in fact, it wasand isa mortgage-backed security ( See Attachments 4, 5, and 6 : No. 4 being an SEC filing FROM RFMSI XXXXS4 that defines ITSELF as a Mortgage-Backed Security at S17, S28, S29, and throughout the document, and which expressly allows for modifications at S64-65 ; No 5 being a Standard and Poors Listing of Residential Mortgage-Backed Securities including RFMSI XXXXS4 ; and No. 6 being a XXXX publication defining RFMSI as a Residential Mortgage-Backed Security ), and IS thus subject to these disclosure provisions. 

4. Note that the Internet is FILLED with documents establishing, rating, and commenting on RFMSI XXXXS4 as a Mortgage-Backed Security ; it would be ridiculous to attach dozens of examples, but if needed, I can certainly supply more. If nothing else, RFMSI XXXXS4s trip from a AAA rating to a D is entertaining in the same depressing way that the movie XXXX XXXX XXXX is entertaining. In the end, there is no question that RFMSI XXXX-S4 is a mortgage-backed security subject to the disclosure provisions of the Truth in Lending Act Amendments that were enacted specifically because of the actions of Wells Fargo and its ilk, to protect homeowners like me. What the legislators didnt anticipate ( because who would? ) is that Wells Fargo and others would simply lie in the face of these easily documented and discoverable truths. Not only about whether an MBS servicing agreement allows modification ( which Wells Fargo did here ), but even over whether the mortgage holder IS AN MBS IN THE FIRST PLACE. 

5. In my second and third complaints to you, I pointed out this lie-upon-a-lie ; that Wells Fargo falsely stated that the investor would not allow modification, and that Wells Fargo didnt have to provide me with information about the investor because the investor wasnt a mortgage-backed security ( see second and third complaints of XX/XX/XXXX and XX/XX/XXXX ). Shockingly, in response, Wells Fargo was willing to lie AGAIN not only to me, but to the U.S. Government, as their response to me ( Attachment 7, which was attached to their response to YOU ) flatly and falsely states ( at page 3 ) : We can confirm your loan is not an MBS loan. As a result, MBS rules do not apply to your account. 

6. Even more shockingly, in its direct responses to YOU, the United States Government, based on my second and third ( XX/XX/XXXX and XXXX, XXXX ) complaints, Wells Fargo again stated that it confirmed that my loan, held by RFMSI XXXXS4, was not an MBS loansee the online responses to those complaints. 

Thus, weve established that Wells Fargo denied my modification and took my home based on one lie ( that its servicing agreement with RFMSI XXXX-S4 did not allow such a modification ). It then refused to provide documentation or put me in touch with RFMSI XXXX-S4 based on a second lie ( that Wells Fargo didnt have to provide this information because RFMSI XXXX-S4 was not a mortgage-backed security ), then also told you, the Federal entity charged with enforcing these very laws, the same pair of lies. All to facilitate the freight-train foreclosure of my home, which could very possibly have been accomplished without breaking the law and lying to the government, but not at the speed and with the ease with which Wells Fargo desired. 

While I have no illusions about getting our home back, I have every intention of holding Wells Fargo accountable for its lies, fraudulent conduct, and willful violations of black-letter law. Without question, it has told the same convenient lies to untold thousands of others in its campaign to foreclose on as many homes as possible as quickly as possible, all as a result of its having written bad loans to stuff into MBSs until its pyramid scheme crashed the global economy. 

Wells Fargo has established itself again and again as a purveyor of frauds in the name of profit, and I doubt one more class action will make much of a dent in its bottom line, but I intend to do my best. I look forward to your response.