Consumer complaint received 2017-01-30
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure — 
Company: WELLS FARGO & COMPANY (SC)

My name is XXXX and my wife is XXXX we live at XXXX XXXX SC XXXX. Wells Fargo closed a loan for us several years ago that was a no doc loan with interest only payments then converting to adjustable rates after XXXX years. We closed in XX/XX/XXXX and made all of our payments on time until the real estate market crashed. XXXX entered into a chapter XXXX plan which included all of the arrears in the plan. XXXX months before the bankruptcy ( XX/XX/XXXX ) on or about XX/XX/XXXX, the rate adjusted from XXXX % to XXXX %. However, Wells denied our family the lower rate and continued to charge us the higher rate of XXXX % although our letters and correspondence from Wells confirmed the XXXX % rate in multiple letters. The payment dept continued billing and demanding payments through our post bankruptcy payments at the higher XXXX % rate.. I made XXXX payments at the correct XXXX % rate until Wells continued to demand higher payments at XXXX %. Later ( XX/XX/XXXX ) I applied for HAMP relief under the Loan Modification program and Wells immediately enrolled me in the program. I provided everything Wells asked for., I confirmed the information was accurate and what the XXXX was requesting. At this time Wells started a series of misleading statements and deception scheme involving dozens of different XXXX in an effort to confuse my application and bury it where it would not progress through underwriting. I documented this scam and demanded they comply with the HAMP guidelines. As I said before this application contained everything requested from Wells and not once over a XXXX day period during XX/XX/XXXX did they request anything else. During this period of deception to Obstruct my rights in HAMP, Wells ordered an appraisal on my home and the value came in at {$750000.00}, well above the balance of the mortgage of {$530000.00} or so. Wells then ordered another appraisal in an effort to fraudulently reflect wrong HAMP NPV numbers and values, therefore stripping me of tier 'd status options available. This new appraisal was deliberately lowered in a collusion effort to hide my properties true value. The new report came in at {$560000.00}. and Wells used that value instead of the {$750000.00} which is accurate. Knowing the property has tremendous equity, Wells hid that value from the United States Bankruptcy XXXX and the XXXX XXXX XXXX XXXX program. Wells turned us down and continued to issue demands for payment at the wrong rate of XXXX % when it was XXXX %. As time went on we continued to document the lies and wrongful rates. In XX/XX/XXXX our family applied for HAMP & submitted everything in full and Wells underwrote the file and established my wifes income of approximately {$5300.00} per month. Although my name was listed on the application and certified that my income was used for household expenses, Wells agents told me it would be easier to use just XXXX income as it should get approved for a trial period. On XX/XX/XXXX we received a denial, which I knew was impossible. I called wells and demanded an underwriter. This person informed me the ratios were too high and we could not afford the decision. She informed me Wells ran the numbers at XXXX % on {$580000.00} for XXXX years. I became agitated and informed them we did not owe {$580000.00} and that was no type of relief or modification. We appealed and sent in my income which provided {$84000.00} per year more in income and very low debt. Also, XXXX received a {$2000.00} per month raise that was submitted with the appeal. Wells refused the appeal for no reason and never reviewd the additional income. during appeal, agents tried to trick me into appealing the appeal, in an effort to not have an open HAMP application before the XX/XX/XXXX deadline. I knew better and sent in the full New application on XX/XX/XXXX. XX/XX/XXXX Wells call told us the CFPB would not allow us to re-enter HAMP. Lies, Lies and Lies