Consumer complaint received 2026-02-02 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Lien release
Company: WELLS FARGO & COMPANY
State: NY

Complaint narrative:
To : Consumer Financial Protection Bureau ( CFPB ) Complaint Category : Mortgages Foreclosure, XXXX XXXX, and Regulatory Violations Institution : Wells Fargo Bank , N.A . ( as successor to Wachovia Bank, XXXX. ) Complainant : XXXX XXXX ( Successor in Interest ) Property : XXXX XXXX XXXX, XXXX, NY XXXX RE : FORMAL COMPLAINT FOR PREDATORY LENDING AND VIOLATIONS OF TILA, RESPA, AND UDAAP I. PRELIMINARY STATEMENT I am filing this complaint against Wells Fargo Bank , N.A . regarding a " loan-to-fail '' predatory lending scheme originated by its predecessor, XXXX XXXX on XX/XX/XXXX. The Bank targeted my elderly parents, XXXX and XXXX XXXX ( then approx. XXXX XXXX XXXX ), with an unconscionable debt structure designed for the sole purpose of " XXXX XXXX ''. 

XXXX. FACTUAL ALLEGATIONS : THE PREDATORY " EQUITY STRIP '' On the same date, the Bank induced my parents into a dual-loan structure : Note XXXX ( XXXX Fixed ) : Principal of {$110000.00} at 5.73 % interest, requiring a monthly payment of {$910.00}. Maturity date : XX/XX/XXXX ( XXXX age : XXXX ). 


Note XXXX ( HELOC ) : {$35000.00} with a XXXX term. Maturity date : XXXX ( XXXX age : XXXX ). 

The Bank originated these loans with full knowledge that my parents were on a fixed retirement income. No reasonable lender could conclude an XXXX could repay a XXXX debt obligation, proving the " consideration '' was not credit, but a trap to seize the property. 

XXXX. REGULATORY VIOLATIONS A. Truth in Lending Act ( TILA ) & Regulation Z ( XXXX C.F.R. XXXX ) Ability to Repay ( XXXX ) : The Bank violated the spirit and letter of XXXX standards by failing to make a good-faith determination of my parents ' ability to pay $ XXXX plus HELOC interest on a fixed income. 

Defective Disclosures : The Note fails to provide clear and conspicuous disclosures required under XXXX C.F.R. XXXX. Specifically, the Finance Charge and Annual Percentage Rate ( XXXX ) were understated, triggering an extended three-year right of rescission under XXXX C.F.R. XXXX. 

B. Real Estate Settlement Procedures Act ( RESPA ) & Regulation X ( XXXX C.F.R. XXXX ) The Bank failed to provide a compliant XXXX XXXX XXXX that accurately disclosed the relationship between the XXXX simultaneous loans, masking the true cost of credit. 

XXXX Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) Abusive Conduct : Taking " unreasonable advantage '' of elderly consumers lack of understanding regarding life expectancy and loan maturity. 


XXXX XXXX : Presenting a XXXX loan to an XXXX as a viable financial product is a per XXXX deceptive act. 

IV. UNIFORM COMMERCIAL CODE ( UCC ) ARTICLE XXXX VIOLATIONS In current foreclosure proceedings ( Index No. XXXX ), Wells Fargo XXXX XXXX a defective XXXX. Under XXXX XXXX ( XXXX ), an indorsement must be " firmly affixed '' to the instrument. The XXXX in question is a separate, unattached document signed by XXXX XXXX XXXX, which fails to prove a valid chain of title, thus stripping the Bank of standing to foreclose. 

V. REQUESTED RELIEF I request the CFPB : Investigate the " loan-to-fail '' underwriting practices of XXXX XXXX in XXXX XXXX 

Compel the Bank to provide the original Note to verify if the XXXX is " firmly affixed '' per UCC standards. 

Halt the foreclosure of my family home based on these manifest violations of XXXX and XXXX predatory lending laws. 


Certification : I certify that the facts above are true based on the loan documents in my possession. 

XXXX XXXX, XXXX in XXXX

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