Consumer complaint received 2025-08-01 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage — Changes in loan terms during the application process
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
I'm a person of interest in a home secured by a heloc line of credit taking out in XX/XX/XXXX for requested amount that ended up being significant amount more according to the loan officer better chance of Securing the loan that was used to address the identical issues along with other serious issues involving the timelines and servicing of the loan in question that the bank Wells Fargo demanded immediate payments in full or repossession of the secured property my primary residence at the time XX/XX/XXXX this is the reason and beginning of the heloc line of credit that XXXX XXXX  allowed my fiance at the time enter into {$100000.00} line of credit altho we didn't ask for this amount or was I allowed to be a signer on the heloc for the reason given was a better chance to qualify and sucure the loan and address to loan with Wells Fargo that had already been sent to there redemption department and was about to get repossession of property and home. According to the redemption department. We my soon to wife at this time XXXX weeks later we we'd. The loan officer was made aware of these statements in fact she knew my wife from her dealings from prior products I was not completely aware of at this time other loans made to her by this loan officer and after learning of the significant amounts given to my wife I began to question the relationship and the motives of this loan officer. That was planning on leaving the bank for other career opportunities. My questioning of the banks motives for lack of words didn't help as far as my concerns and I became more aware of the circumstances and later after covid and other disaster related damages and hardships I became totally XXXX and we began struggling, we had issues with identity theft where are accounts were charges were appearing and payments were being misappropriated or not being applied at all the exact same issues I had experienced with Wells Fargo Compass bank I believe around mid XXXX filed XXXX pending and improperly servered a complaint and began foreclosure procedures that lasted for sometime and voluntarily dismissed the lawsuit after sometime. I and my wife were and had been continuing to understand the charges and payment amounts and what loans they were being applied or if the payments and drafted accounts for payments were corrected only to learn that the amount was incorrect. We just wanted confirmation that we still don't have although we continue to make requests and we learn compass is XXXX compass bank or they changed the name and its now XXXX and the heloc credit according to the XXXX compass my wife heloc is defaulted unbeknownst to us we disagreed with this and again began to request the material to address are concerns. Only to find out we were in Forclosure proceedings again with a new law firm and other sworn statements that we disagreed with according to records and other important issues that were more important, this was in the middle of covid pandemic and everything was unclear involving the court 's and I believe it's save to say not your normal business as usual. XXXX compass again would voluntary dismiss the lawsuit filed and would at somepoint in XXXX become XXXX XXXX  and become more aggressive and more of everything that a customer that continues in good-faith efforts to refinance repurchase anything available loan modification was denied over XXXX times just by simply stating enough information requested wasn't given. We never were given the opportunity to present testimony or provide documentation demonstrating the issues we were denied proper due processing number of issues with the servicing of the loan or standing the note was depending on which complaint XXXX read was never available the terms of the loan changed on mutable times that made no sense and our concerns or fears have not been addressed not XXXX time by anyone involved. We not XXXX time thought we were going to get a free home or anything close. What didn't get was a fair opportunity to present the genuine facts the attorneys or representatives we unfortunately didn't have did a awesome job of avoiding and convincing through motion and other unfamiliar procedures convincing the court this was just another couple that didn't pay their mortgage. This is the further from the truth as it gets. There seems to be a misunderstanding that banks don't make mistakes and if they do its to bad. And we get its probably for the corporate world to dismiss and do better next time. My wife and I have contacted the bank and I as a person with my whole career invested into my home and property continue to try and refinance or purchase only to be pre-approved after XXXX years of working on my credit due to Wells Fargo that settled the loan and agreed to not negatively report the amount they claimed was left owing a settlement for less then the amount owed on a loan that was never late to begin with I have submitted the information I have filed a complaint with this agency the attorney General office alongvwith Wells Fargo and I today I not been compensated for the monies that was taking from my accounts the late fees associated with the predatory lending practices implemented deliberately the insurance premiums they charged for and /or the negative credit reported that has prevented XXXX from obtaining the required credit to address what was never my fault in the first place. I remain displeased with the unfair treatment and the denied due process XXXX is entitled to receive. And the fact that Wells Fargo never acknowledged these facts to be true. I'm continuing to struggle with the need support to address this and all the facts to remedy this problem it's not easy to be in a possible of loosing ones home that has significant equity that could easily address this problem and make payments affordable for a family that is low income and where a record of timelines demonstrate a family that's continuing to address the problem. We are currently had a judgment entered in rem judgment with a sell date for XX/XX/XXXX although we completely successfully the trail period for the remaining balance on the stated amount owed although we don't agree with this amount or the higher payments associated with the loan. Loosing my property my investment has never been an option. I hope our experience can help someone and avoid the pitfalls associated with these types situations. As we continue to maneuver through this complex process.

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