Consumer complaint received 2018-06-27
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage — 
Company: WELLS FARGO & COMPANY (WA)

XXXX : XXXX ( CFPB ) additional information regarding Complaint # XXXX ( XXXX ) XXXX Additional Information On the Deed of Trust, page 1 of 19 ( 29 actual pages ), Form XXXX XX/XX/XXXX, the following appears : FHA ( XXXX XXXX XXXX ) loans state the following for loan qualifications : Borrowers front-end ratio ( mortgage payment plus XXXX fees, property taxes, mortgage insurance, homeowners insurance ) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval. 
My mother 's loan payments ( front end ratio ) in this supposed loan was : 47 % of her monthly income, or 151 % of the typically approved XXXX XXXX XXXX Ratio.. 

Borrowers back-end ratio ( mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc. ) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval. 
XXXX XXXX 's back-end ratio ( mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc. ) was 64 % of her monthly income, or 149 % of the typically approved XXXX XXXX XXXX XXXX. 

Upon viewing the Deed of Trust, it appears that the loan : ( 1 ) originated on XXXX, XXXX, and ( 2 ) is listed as a Washington single family XXXX XXXX XXXX XXXX Instrument Her debt to income percentage was : front end 47 % of her monthly income, or 151 % of the typically approved ratio ; and her back end income to expense ration was : 64 % of her monthly income, or 149 % of the typical acceptable loan ratio. 
( 3 ) This loan was supposedly made for {$750000.00} as a 30 year Home Equity loan ) on my mothers home which was valued at {$71.00}, XXXX at the time of the loan ( XXXX ), or 104 % of the value of her home. 
( 4 ) At the age of XXXX and on a fixed income from Social Security and a small pension, payments for this loan were set at {$680.00}, which was 47 % of her monthly income, with a back end ( total monthly expenses to income of 64 % of her monthly income. ( She was forced to choose between buying food or fuel for heat ) ( 5 )  Was signed, but not dated by my mom on page XXXX, and ( 6 ) XXXX witness signature spaces on page XXXX are blank ; ( 7 ) Was Notarized on page XXXX XX/XX/XXXX ( the page after my mom signed it, with space on page XXXX for signature, and Notary stamp on page XXXX only ) ; ( 8 ) The Variable Interest rider ( 6.125 % -14.750 % ) is on pages XXXX ; variable rate ( loans from XXXX were : ( XXXX thru- XXXX + 1.7 %, with a cap 8.25 % ) The initial variable interest rate was 8.125 %, and the current rate charged by Wells Fargo on this loan is 7.75 % Current ( XXXX ) XXXX XXXX XXXX rates are : 4.57 % -4.62 % ( 9 ) Mom signed again on page XXXX, but again not dated, and no witness signatures. 
( 10 ) A Rider titled : XXXX XXXX XXXX is on pages XXXX of the Deed of Trust, with mom 's signature, but no witness signatures nor Notary following. 
( 11 ) The Deed of Trust is dated XX/XX/XXXX at XXXX pm, and cites XXXX pages. The Deed of Trust, in fact, is actually XXXX pages long. ( The three additional pages are court documents placing liens on her property. ) ( 12 ) XXXX XXXX XXXX XXXX. is listed on the Deed of Trust ( Escrow? ). 
( 13 ) XXXX XXXX XXXX, XXXX is listed as Trustee of the Loan ( The pending closure ( ( XXXX, XXXX ) ) comes barely a month after the XXXX XXXX Department accused XXXX XXXX XXXX, XXXX 's controversial parent company, of illegally foreclosing against XXXX veterans. ) ( 14 ) 12 years of payments ( {$680.00} per month ) have totaled {$100000.00} in payments, and resulted in a remaining principle ( XXXX ) of {$62000.00} at the age of XXXX XXXX XXXX, and with 18 years of payments left to pay. 
( 15 ) There is nothing in any financial records, or that any family or friend of mom 's can even think of that mom would have spent anywhere near {$75000.00} on. -- - She basically lived a paupers life ( I sent her groceries and supplies ). 

Please help or advise, XXXX XXXX XXXX ( XXXX appointed Executor and Person of Interest for XXXX XXXX XXXX, XXXX )