Consumer complaint received 2021-08-24
Product: Mortgage — Other type of mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY (FL)

Where is the Fiduciary Responsibly of Big Banks? 

Thank you in advance for taking the time to read my letter about my situation and concerns. 

I am writing to you, regarding my ongoing saga with Wells Fargo Bank. This is a summary of my situation. 

1. Wells Fargo has fraudulently altered my mortgage which contained a legal description of a property located in XXXX XXXX, Florida which was created by Wachovia Bank. 



2. In XXXX Wells Fargo Bank directed XXXX to remove the previous legal description create and add a new legal description and handwrite on the original mortgage document, and then file this modified document with the XXXX XXXX XXXX XXXX XXXX. 
3. Not only did they commit fraud upon me, but they are also defrauding the court system and the general public, by filing this altered document with the XXXX  County Clerk of Court with no proper reformation of this legal document of equity.

4. Wells Fargo has given no resolution or assistance to any of my requests or negotiations. 

Why are they able to do whatever they choose with no regard to financial rules, federal or state laws, or any type of ethics? As the general public or small business acts of fraud are considered a criminal offense, but with Big Banks, it is a way of life! We can not rob the bank, but it is completely ok for the Big Banks to rob the people! 

All the massive fines, penalties, and settlements mean nothing to them it is just the cost of doing business, so they continue to do it again and again, hoping not to get caught next time. Instead of making things right by helping consumers with situations, they see their customers as a $ number $ on the bottom line of their financial report! With an employee sales slogan like XXXX XXXX XXXX, and the multiple scandals used to increase their bottom line, I guess this stands to reason. This is no big deal for Wells Fargo to pay a hefty penalty for criminal acts ; they will just recoup all their losses by stealing from the general public. 

I realize that I am just a little fish in a huge ocean, trying to survive the gigantic Wells Fargo Shark!!!! But, I am not alone, my heart bleeds for the millions of Americans who have lost their homes, due to the fraudulent, deceptive, and unethical practices of the Big Banks and their corrupt Legal Teams. They play by their own rule and manipulate the court system to win. 

Honestly, in XXXX you need to hire your own attorney to open a simple bank account because the results may be detrimental to your financial future. Wells Fargo has proven itself to be unreliable and untrustworthy time and time again!!!!! When will the insanity end????? 

I have been fighting a battle with Wells Fargo Bank for over 9 years now! They have drained me of my emotional and mental health, time and finances and wont quit until they have MY property!!!!!

As you are aware life happens, bad things happen to good people, sickness, divorce, death, unemployment, family issues, just to name a few. Life is forever changing and evolving and as circumstances happen we find ways to adapt adjust and move ahead. 

My situation started due to a breach of the fiduciary duty of the original broker, failure to act in the best interest of the non-borrower of the mortgage, failure to disclose information, failure to obtain the appropriate financial information, and failure of contract formation. Due to the unethical materialization of the loan given to my now ex-husband, I was forced to sign the mortgage but was not privileged to sign the note. Therefore I had no control over any aspects of the open-end line of credit given to him solely. 

In XXXX our divorce began and he chose to not pay this open-end line of credit. In early XXXX when I discovered the account was delinquent I immediately contacted Wells Fargo to ask for help with a resolution for the situation. I was quickly shut down and told I was not on the note and they could not give me any information or speak to me! They offered my ex-husband a remedy to resolve the debt before the foreclosure proceeding began, but would not and did not give me any options at all. 

During this long season of an unpleasant and stressful divorce and the never-ending and shocking foreclosure proceedings, Wells Fargo gave me no options. 

Monetarily it made no logical sense for me to pay on the open line of credit, which was only available to my estranged and disgruntle ex-husband, who hated me at that point and had no interest in the property. This would have given him complete control to draw any payments I made to the account anytime until XXXX. I discussed the matter with multiple housing counselors, bank representatives, and attorneys with no remedy or resolution for my situation. The reply from Wells Fargo was always we cant help you or talk to you ; you are not on the note. 

Foreclosure proceedings drug out until XXXX, due to multiply issues with the mortgage document. When Wells Fargo could not bypass the multiply errors of the Wachovia mortgage, Wells Fargo and their attorneys chose to circumvent the proper procedure and file a fabricated, fraudulent mortgage with the court and start the foreclosure process over in XXXX in a different county with unclean hands. 

Throughout these proceedings, numerous attempts were made by several attorneys and myself to negotiating and settle this matter once and for all ; only to have the offers disregarded and left with no resolution or remedies. I sent multiple letters to Wells Fargo, according to the rules of RESPA and TILA, asking for all loss mitigation options. The only replies I received were numerous letters extending the time to complete their work. No options were ever provided to me or my ex-husband in regards to the letters, which they are required to respond to. 

The most recent solution is to have my ex-husband apply for a loan modification, which does not make any logical sense in the grand view of the whole circumstances.

The point of this letter to you is to ask that you would please stop the cycle of type of predatory lending. HELOC, HECM, and Open-End Credit Lines leave innocent victims in their aftermath with no home preservation or modification solutions. These types of loans should never be offered to only one party without the non-borrowing signing over complete ownership to the borrowing spouse. This would make things much more difficult for the banks and would give the non-borrower a better understanding of what they are allowing to happen by signing the mortgage. Please make programs and lending options available for this type of situation where one spouse is left with no choices, due to this type of predatory lending.

This was copied from their Website : Code of Ethics Wells Fargos reputation as one of the worlds great companies for integrity and principled performance depends on our doing the right thing, in the right way, and complying with the laws, rules, and regulations that govern our business. We earn trust by behaving ethically and holding all team members and directors accountable for the decisions we make and the actions we take. The Code of Ethics and Business Conduct ( PDF ) serves to guide the actions and decisions of our team members, including executive officers, and directors. 


I certainly wish they would consider these words they are choosing to post as their Code of Ethics their actions speak much louder than their words! 

I will continue in my battle with the unscrupulous and corrupt ways of Wells Fargo and pray for justice, freedom from their grips upon my life, and an opportunity to make a difference for the next victims of their fraudulent and unethical schemes. 

Thank you for your consideration in the matter. 

Sincerely, XXXX XXXX