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

Complaint narrative:
HISTORY COMPLAINT AGAINST WELLS FARGO BANK FOR VIOLATION OF CONSUMER/CUSTOMER LAWS THAT GOVERNS MORTGAGE DISCRIMINATORY LENDING PRACTICE AND VIOLATION OF FREDERAL AND STATE LAWS FOR CUSTOMER LENDING PROCESS I took a LOAN AGAINST MY HOME in XXXX to invest in real estate, based on the market at that time and the constant bombardment of many lending institutions telling people to use up their large equity in their home. After being a customer of XXXX XXXX XXXX AND WHEN THE BANK CHANGED TO XXXX AND THEN LATER TO WELLS FARGO AND A GOOD CREDIT STANDING CUSTOMER OF XXXX YEARS AT THAT TIME AND HAD TAKEN OUT SMALL AND LARGE LOANS WITH THIS INSULATION AND HAD PAID THEM ALL OFF ON TIME. I decided to take a chance and take the loan. 
I have continued to be a good standing customer of this institution to this day which is OVER XXXX  YEARS AND STILL HAVE XXXX ACCOUNTS WITH THIS INSTITUTION. 

In so doing I purchased real estate that turned out to go belly up on or about XXXX when the market crashed. I continued to make payments until the Congress passed the law. In the wake of the XXXX XXXX XXXX XXXX XXXX the DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT OF 2010 and President Obama signed it in to law. Pub. L. 111-203, 124 Stat 1376. 

It came a time on or about XXXX of XXXX the WELLS FARGO in trying to get their records in order approached me to have my loan paid off in XXXX LUMP SUM BASED ON THE DODD-FRANK LAW. I was given a loan guidance officer and I had to produce documents that meet the requirements of the program to qualify for the LUMP SUM PAY OFF. In so doing I was informed that my file had to be found by the BANK in order to determine what my lump sum pay off should be. IN THE INTERIM l WAS TOLD NOT TO MAKE ANY PAYMENTS BECAUSE ONCE A DECISION IS DECIDED I WILL BE GIVE A LUMP SUM-AMOUNT TO BE PAID AND A SHORT TIME TO MAKE THE PAYMENT. 
This process dragged on for XXXX years even after many repeated contacts, by me to the GUIDENCE LOAN OFFICER TO ESTABLISH WHERE THINGS STAND. I subsequently got a letter in XXXX XXXX XXXX years later stating that my loan was going to foreclosure with no explanation of what happened. When I enquired from the loan officer his only response was EVERY DEPARTMENT OPERATES INDEPENDANTLY. 
MY COMPLAINT SINCE THEN IS THAT I HAVE BEEN TRYING TO GET THE INSTITUTION TO PROVIDE ME WITH PROOF OF WHAT I OWE AND TO GRANT ME A CONVENTIONAL LOAN SO THAT I CAN PAY WHAT MY BALANCE IS OFF. 
TO THIS DAY THEY HAVE NOT PROVIDED ME WITH ANY CREDIBLE PAYMENT HISTORY AND HAVE REFUSED TO GRANT ME A LOAN AFTER MANY LOAN APPLICATIONS AND PRE APPROVAL BASED ON THE HOME PRESERVATION DEPARTMENT. 

I HAVE NEVER GOTTEN ANY REJECTION LETTERS OR DENIAL LETTERS STATING REASON FOR LOAN REJECTIONS. THE LETTER I WOULD GET IS A FORECLOSURE LETTERS MONTHS AFTER I WAS TOLD THAT THE PAPERS ARE IN UNDERWRITING FOR FINAL APPROVAL. 

THIS IS AFTER MANY APPLICATIONS BEING MADE FOR A LOAN OR REFINANCING THE EXISTING LOAN. 

I HAVE NO IDEAL OR WAS EVER GIVEN THE OPPORTUNITY TO KNOW THE GROUNDS OF REJECTIONS. AS SUCH MY RIGHTS TO CONFRONT OR TO REBUT THE DECISION HAS NEVER BEEN AFFORDED ME. THE BASIS CONSUMER PROTECTIONS LAWS HAVE BEEN VIOLATED AND MY FUNDAMENTAL RIGHTS OF DUE PROCESS WAS NEVER GIVEN. 

THIS MATTER HAS BEEN PART OF THE COURT SYSTEM FOR A FEW YEARS AND I HAVE BEEN ADVISED TO LET THIS MATTER BE HANDLE BY THE FEDERAL AND STATE AGENCIES THAT OVER SEE THIS INSTITUTION BY THE JUDGES IN THESE CASES. 
I AM STILL A CUSTOMER OF THIS BANK FOR OVER XXXX  YEARS, GOOD CREDIT SCORE WITH ALL CREDITORS AND STILL A HOLDER OF XXXX BANK ACCOUNTS AT SOME POINT MY BUSINESS ACCOUNT AND MY XXXX KIDS, COLLEGE FUNDS AT THIS INSTITUTION WELLS FARGO HAS TAKEN ILLEGAL ACTION IN VIOLATION OF FEDERAL AND STATE LAWS BY CLOSING MY JOIN ACCOUNT I HAD WITH MY SON ALONG WITH TRANSFERRING THE FUNDS INTO THEIR PERSONAL ACCOUNTS ( i.e. Sold off stocks, mutual funds and with draw the cash in the account ). THEY HAVE USED THEIR APPOINTED TRUSTEES TO VIOLATE MANY CONSUMER PROTECTION LAWS AS A MEANS TO PROVE SOME ULTIMATE GOAL. 
WELLS FORGO USED THEIR CONNECTION WITH THE CIRCUIT COURT TO DETERMINE THE FORUM THEY WANTED THE CASE TO BE IN. AFTER DECISIONS WERE MADE FOR A PAYMENT PLAN THEY HAVE REFUSE TO ACCEPT THAT SOLUTIONS THAT THE COURTS ARRANGED. THE BANK MADE IT KNOWN THAT THE ONLY PAYMENT THEY WOULD ACCEPT IS A FULL PAYMENT OF A NUMBER THAT THEY PICK AND THAT NUMBER KEEPS CHANGING BASED ON WHO ONE SPEAKS TO.

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