Consumer complaint received 2025-11-02 00:00:00
Product: Debt collection — Mortgage debt
Issue: False statements or representation — Attempted to collect wrong amount
Company: WELLS FARGO & COMPANY
State: IN

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, XXXX  XXXX Date : XX/XX/XXXX Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX Subject : Formal Complaint Against Wells Fargo Bank, N.A., XXXX, XXXX, and XXXX  for False and Misleading Credit Reporting, Failure to Verify Debt Ownership, and Failure to Provide Lawful Accounting and Note Documentation To Whom It May Concern, I. Summary of the Dispute Wells Fargo continues to report an alleged mortgage debt on my credit reports as though it is the creditor and lawful owner of the loan, even though Wells Fargo admitted in writing on XX/XX/XXXX, that it is merely the servicer and that the note holder is XXXX XXXX XXXX. 

Despite this admission, Wells Fargo has refused to : Produce or locate the original wet-ink promissory note, Identify who lawfully owns the note or whose credit or funds were used to originate the loan, Provide the double-entry accounting ledgers that would show the matching debit and credit entries for the alleged loan ( proving consideration was actually given ), and Identify where and to whom my last payment was distributed, despite claiming to act as servicer. 


XXXX XXXX inability or refusal to produce these required records under federal law demonstrates that the alleged debt is unverified, unsubstantiated, and is being falsely reported to consumer reporting agencies. 

II. Violations by Wells Fargo Bank , N.A .

1. Failure to Produce or Verify the Original Promissory Note Wells Fargo has not produced or located the original promissory note, despite stating they hold the note. Under Uniform Commercial Code 3-301, only a person entitled to enforce the instrument the legal holder of the original note may claim rights to collect or report a debt.

Bank of New York v. Romero, 320 P.3d 1 ( N.M. 2014 ) The court ruled that mere possession or servicing of a note does not confer ownership or the right to enforce it ; a bank must show proper endorsement and chain of title.

Kemp v. Countrywide Home Loans , Inc., 440 B.R. 624 ( Bankr. D.N.J. 2010 ) The court found that failure to produce the original note or proof of transfer undermines a creditors claim of ownership or right to enforce.

Therefore, Wells Fargos reporting itself as creditor without producing the lawful note violates 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ) ( furnishing inaccurate information ).

2. Failure to Prove Funding and Consideration I have requested proof of whose credit or funds were used to finance the property at XXXXXXXX XXXX XXXX  Under Truth in Lending Act ( TILA ), 15 U.S.C. 1601 et seq., creditors must disclose the source of loan funds and the identity of the true lender.

Wells Fargo has not shown that it extended any lawful consideration or credit in exchange for my promissory note. This failure raises serious concerns about whether the debt was validly originated or whether Wells Fargo is misrepresenting its interest in the transaction.

Carpenter v. Longan, 83 U.S. 271 ( 1872 ) The note and the mortgage are inseparable ; if Wells Fargo does not hold and fund the note, it can not claim rights to the mortgage or report the debt as its own.

3. Failure to Provide Accounting and Double-Entry Ledgers Under 12 U.S.C. 2605 ( e ) ( RESPA ), a servicer must respond to a Qualified Written Request ( QWR ) and provide accurate accounting information, including how payments were applied, to whom they were distributed, and the ledger entries reflecting the alleged loan.

Wells Fargo has failed to provide : The double-entry accounting ledgers showing debits and credits for the alleged loan, The application and distribution of my last payment, and The complete payment history identifying all counterparties and transfers.

This omission constitutes a violation of RESPA 2605 ( e ) and Regulation X ( 12 C.F.R. 1024.36 ), which require the servicer to provide requested servicing information within 30 business days.

Case law : Rawlings v. Dovenmuehle Mortgage , Inc., 64 F. Supp. 2d 1156 ( M.D. Ala. 1999 ) A servicers failure to provide requested account information violated RESPA.

Marais v. Chase Home Finance LLC, 736 F.3d 711 ( 6th Cir. 2013 ) Servicers must provide complete account information and may be liable for damages for failing to comply with a QWR.

4. False and Misleading Credit Reporting By continuing to report itself as creditor while withholding proof of ownership, Wells Fargo has furnished inaccurate and misleading information to the credit bureaus in violation of : 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ) Furnishing inaccurate information, 15 U.S.C. 1681s-2 ( b ) ( 1 ) ( D ) Failing to modify or delete inaccurate information after notice of dispute.

III. Violations by XXXX, XXXX, and XXXX  1. Failure to Conduct Reasonable Reinvestigation Each bureau has been provided proof that Wells Fargo is only a servicer, not a creditor, yet all three continue to publish the inaccurate tradeline.

This violates 15 U.S.C. 1681i ( a ) ( 1 ) and 1681i ( a ) ( 5 ), which require deletion or correction of unverifiable or inaccurate data.

Cushman v. TransUnion Corp., 115 F.3d 220 ( 3d Cir. 1997 ) A CRAs reinvestigation must be reasonable given the evidence provided by the consumer.

Dennis v. BEH-1, LLC, 520 F.3d 1066 ( 9th Cir. 2008 ) Failure to delete unverifiable data after dispute constitutes a violation of the FCRA.

2. Failure to Ensure Maximum Possible Accuracy Under 15 U.S.C. 1681e ( b ), CRAs must follow reasonable procedures to assure maximum possible accuracy. Continuing to report Wells Fargo as creditor despite proof to the contrary fails this standard.

IV. Combined Consumer Harm Wells Fargos failure to provide ownership documentation, accounting records, and lawful note evidence combined with the CRAs refusal to correct the tradeline has caused : Damage to my credit score and reputation, Denial of financial opportunities, Emotional distress, and Violation of my statutory rights under FCRA and RESPA.

V. Requested CFPB Action I respectfully request that the CFPB : Investigate Wells Fargo Bank , N.A . for violations of the FCRA, RESPA, and TILA ; Investigate XXXX, XXXX, and XXXX for failure to reinvestigate under FCRA 1681i ( a ) ; Order Wells Fargo to produce the original note, chain of title, accounting ledgers, and payment application documentation ; Order deletion or correction of the inaccurate Wells Fargo tradeline ; Require disclosure of the true owner of the alleged debt ; and Impose penalties for willful and negligent violations of federal consumer law.

Supporting Documents Attached : My Qualified Written Request ( QWR ) dated XX/XX/XXXX ; Wells Fargos XX/XX/XXXX response admitting they are only the servicer ; Credit reports showing Wells Fargo listed as creditor ; Prior correspondence with all three credit bureaus. 

Conclusion Wells Fargos inability to produce the note, prove funding, account for payments, or show lawful ownership demonstrates that it is not the creditor and has falsely reported itself as such. The credit bureaus refusal to correct the inaccuracy further compounds this violation.

I respectfully request that the CFPB take immediate enforcement action to ensure compliance with FCRA ( 15 U.S.C. 1681 et seq. ), RESPA ( 12 U.S.C. 2605 ( e ) ), and TILA ( 15 U.S.C. 1601 et seq. ). 

Sincerely, XXXX XXXX XXXX All Rights Reserved UCC 1-308

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation