Consumer complaint received 2016-12-09
Product: Mortgage — Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account — 
Company: WELLS FARGO & COMPANY (CA)

I had XXXX mortgages with Wells Fargo on rental properties I own. In 2009 I called and asked if there could be any assistance for mortgage payment relief for a month or so. I had financed these to properties 5 years earlier into 20 year loans to shorten the life of the loans thus increasing the payments. I told the person on the phone if they did not have a plan available to me as I was an investor I had a plan b which was taking money from my XXXX XXXX retire plan to make the payments. They offered a loan mod which I was not looking for but did instruct me to make a reduced payment on each loan for three months. I made a reduced payment for only two months and there after made the normal payments never missing a month. After 4 months I had trouble with other accounts lowering my available credit for Wells Fargo was reporting late payments on my XXXX loans killing my credit score. 6 month into this charade Wells Fargo said I was approved for the loan medication and to make a new payment that was lower than my original for 3 months. The final offer was a reduction of interest rate on the loan of XXXX points less than what I was paying for the first year and the following year would increase XXXX percent then the third year XXXX more increase for a final interest rate XXXX XXXX % less than what I was paying. I agreed to the plan for my credit scores were now shot. All my other credit accounts stayed in good condition. Four months went by and I was called by W/F stating they did-approved the loan modification for I did not reside In the properties. They were told on every phone call that I did not live there that they were investment properties. When they " accelerated '' my loans I barrowed from my XXXX retirement plan to pay the XXXX mortgage up. XXXX of the last people on the phone with W/F told me I should not have followed their instructions that I should have read the note and followed what the note said. Some time has gone by and my anger for them not knowing what they were doing has soften but I am suffering with a lower credit score for they show the XXXX mortgages as XXXX, XXXX and 90 days late and will not correct the report as to I paid as I was instructed to. I never missed a payment monthly. These conversations were recorded on both sides. They gave permission as " This call may be recorded '' They have recently screwed up my residence loan. My original note was a XXXX XXXX loan now serviced by W/F. They are supposed to be pulling a payment on an AUTO every other week. They have stopped doing this sighting several reasons. XXXX was that I missed a payment so they stopped, When I asked them to tell me which payment for they were in charge of taking the payments from my account they changed the story to they changed the loan number so they could sell the loan, then they changed it again stating they received a payment from someone other than me at a branch crediting my account and then realized they made a mistake and then took the payment out or my account therefore showing I missed a payment. I asked that they follow what our note on the loan states and they have ignored my request. I want my credit report restored to show the XXXX W/F loans to report they were paid as agreed instead of that I was a dead beat. I have and or had XXXX loans with them at the same time and non had any late pays until they mislead me, by their own negligence into telling me they can help with the payments by reducing them. If the person on the other end of the phone said they did not have an option for me I would have used the XXXX retirement loan to cure the issue in the first place. W/F charged me several late fees on the XXXX rental property loans which I would not have had if they were honest with me to begin with.