Consumer complaint received 2022-12-14 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
My mortgage has been in forbearance since XX/XX/XXXX, for a total of XXXX months. During that time, I reached out to Wells Fargo via mail to ask for a copy of my contract with my signature agreeing to pay them as they are not the original lenders that I contracted with. They send a partial copy ( not the whole contract ). XXXX XXXX XXXX is on my paperwork and my promissory note as well. That means the promissory note was transferred to Wells Fargo by XXXX XXXX XXXX and that was the payment for the house! 

According to 12 U.S.C 1813 L/1 ( l ) Deposit The term deposit means ( 1 ) the unpaid balance of money or its equivalent received or held by a bank or savings association in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to a commercial, checking, savings, time, or thrift account, or which is evidenced by its certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar name, or a check or draft drawn against a deposit account and certified by the bank or savings association , or a letter of credit or a travelers check on which the bank or savings association is primarily liable : Provided, That, without limiting the generality of the term money or its equivalent, any such account or instrument must be regarded as evidencing the receipt of the equivalent of money when credited or issued in exchange for checks or drafts or for a promissory note upon which the person obtaining any such credit or instrument is primarily or secondarily liable, or for a charge against a deposit account, or in settlement of checks, drafts, or other instruments forwarded to such bank or savings association for collection. 

This can be found the XXXX form pg. XXXX for Wells Fargo & Company SEC reporting REPURCHASE AND SECURITIES LENDING AGREEMENTS Securities sold under repurchase agreements and securities lending arrangements are effectively short-term collateralized borrowings. In these transactions, we receive cash in exchange for transferring securities as collateral and recognize an obligation to reacquire the securities for cash at the transactions maturity. These types of transactions create risks, including ( XXXX ) the counterparty may fail to return the securities at maturity, ( XXXX ) the fair value of the securities transferred may decline below the amount of our obligation to reacquire the securities, and therefore, create an obligation for us to pledge additional amounts, and ( XXXX ) the counterparty may accelerate the maturity on demand, requiring us to reacquire the security prior to contractual maturity. We attempt to mitigate these risks in various ways. Our collateral primarily consists of highly liquid securities. In addition, we underwrite and monitor the financial strength of our counterparties, monitor the fair value of collateral pledged relative to contractually required repurchase amounts, and monitor that our collateral is properly returned through the clearing and settlement process in advance of our cash repayment. Table XXXX provides the gross amounts recognized on the consolidated balance sheet ( before the effects of offsetting ) of our liabilities for repurchase and securities lending agreements disaggregated by underlying collateral type. 
XXXX Wells Fargo & Company A misrepresentation is a false or misleading statement or a material omission which renders other statements misleading, with intent to deceive. Misrepresentation is XXXX the elements of common law fraud, and other causes of action for fraud, such as securities fraud. 

I have reached out to Wells Fargo in regard to the billing errors that have been sent me stating that owe a debt and is behind on my mortgage payments. They are threating to go into foreclose if I don't pay {$21.00}, XXXX amount by XX/XX/XXXX. Even before the payments were over, they offered mortgage assistance as I told them I have no income, but they took my application with my ssn and signature on it which is form of security and denied me assistance. Now they have my application/security and haven't given me assistance. The statements they send me are in a positive number so i do not agree to any alleged debt. They would have to prove to me that I owe a debt to them. 

15 U.S.C 1666, Truth in Lending Act Regulation Z ( 15 U.S.C 1666-1666j ), 12 CFR 1026.13, Equal Credit Opportunity Act

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