Consumer complaint received 2017-06-13
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY (VA)

I began the process with the understanding that Wells Fargo and their Home Preservation would work with me under the GOOD FAITH CLAUSE. If Wells Fargo was going to transfer the loan, the Home Preservation should not have been able to assign the loan to Wells Fargo Home Preservation department. The purpose of Home Preservation is to help me keep the house. <P/>Once the loan was assigned to the Home Preservation department, the loan should not be transferred until the all of the documents were uploaded, and the review was completed ( GOOD FAITH CLAUSE ). Once the review was completed and if Wells Fargo did not want to help me at that time, then the transferred could of have happen. <P/>According to the information on the Wells Fargo Home Preservation website, I had until XXXX XXXX 2017 to get the bulk of the documents uploaded. When I signed in around XX/XX/XXXX, a message should of been displayed saying the loan was in the process of being transferred. At least this would give me a chance to stop the loan from being transferred if possible. I rather work with Wells Fargo than the company they transferred my loan to. <P/>The letter explaining about the transfer of the loan was mailed out XXXX XXXX, 2017, and said the loan was going to be transferred on XXXX XXXX, 2017. ** This is the only letter that I received notifying me of the transferred. ** Under the Lenders Act Law, thirty days notice must be given. However, in this case, only twenty days notice was given to me. I believe Wells Fargo violated the Lenders Act since they did not give me the notification within the required time period. Therefore, since the required notification was not given, I fell Wells Fargo should take the loan back. <P/>I wanted to put the forbearance in place before the XX/XX/XXXX payment with Wells Fargo. If Wells Fargo takes the loan back and then transfers it again, by the time this all happens, I will be at least two, if not three months, behind on the mortgage. In Addition, by the time I get the forbearance in place with the new company, I will be behind by two or three months. <P/><P/>Below describes the series of dates with the loan in question : XXXX XXXX, 2017 : Wells Fargo sent a letter to inform me that my loan was going to be transferred to another lender. If this was the case, the loan should have never been transferred to their Home Preservation Dept. ( see X/XX/2017 ). <P/>XXXX XXXX, 2017 : Talked about a loan modification. It looks like I was going to go for a Forbearance since I have been trying to find a job since middle of XXXX 2017. XXXX was the first one I talked to. He was able to get himself assigned as my Home Preservation rep, and it was not assigned to the Home Preservation Department. I talked with XXXX about it, and he was able to get his name assigned to my loan. NO MESSAGE appeared about the possibility of the loan being transferred. XXXX talked about the options available, and I decided the best thing was forbearance because I was looking for a job. <P/>XXXX XXXX 2017 : Uploaded some of the documentation needed for the forbearance with Wells Fargo. <P/>XXXX XXXX 2017 : Loan was transferred to the new company, XXXX XXXX, as per the letter I received. <P/>XXXX XXXX, 2017 : Tried to upload the rest of the documents, but I could not sign on. Set email to XXXX about it, which was the new account manager for the loan. <P/>XXXX XXXX, 2017 : Tried to sign on again but could not. I planned to call on Tuesday ( because of the holiday ) to find out why. Set email to XXXX about it. <P/>XXXX XXXX, 2017 : Called Wells Fargo to find out what was going on. This is when I found out it was transferred to the company.