Date Received: 2023-05-10
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We had a mortgage with Wells Fargo and the home was foreclosed on in 2013. We were actively trying to complete a loan modification. We believe we should be eligible for a payment from the Wells Fargo settlement but have not been contacted or received anything. We contacted a Wells Fargo customer representative at XXXX and were told Wells Fargo is reaching out to customers and they were unable ( or unwilling ) to provide any additional information. Therefore, we are submitting a complaint to the CFPB.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98023
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: XXXX XXXX XXXX XXXX XXXX XXXX XXXX Tn XXXX XXXX You are in Direct violation of The Fair Credit Reporting Act XXXX XXXX XXXX has violated several of my rights. 15 U.S.C 1681 section 602 A clearly states that I have the rights to privacy. 15 U.S.C 1681 section 604 A section 2 : it also states a consumer agency can not furnish an account without my written instructions. 15 U.S.C 1666B : A creditor may not treat a payment on a credit card account under an open-end consumer credit plan as late for any purpose. Remove these late payments and update this account immediately as you are in direct violation of several laws under The Fair Credit Reporting Act
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 37421
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: my car has been repo 2 days ago due to non payment in 8 months but from my understanding was that repo comes after your car within 2-3 months i have checked my wells Fargo account and the money has been withdrawn monthly from my account but the finance company for my vehicle is XXXX XXXX XXXX states they have not received payment in 8 months. the money is not in my account. the money was not received towards the car payment. where is my money
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92583
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Problem with a lender or other company charging your account
Subissue: Can't stop withdrawals from your account
Consumer Complaint: Wells Fargo kept charging me overdraft fees and continued to let the card be used. I told them the account was closed There was no money left yet they kept allowing it to be used and charged a ton of overdraft fees. I complained a lot but they didnt do anything
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33064
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Problem caused by your funds being low
Subissue: Non-sufficient funds and associated fees
Consumer Complaint: My home had an over water flow, my insurance company issued a check for the repairs. The first check was made out incorrectly to my first mortgage company and not my current mortgage company. Had to have the insurance company re-issue the correct check so at this point that pushed our project well behind time my daughter is getting married XX/XX/XXXX in our home the contractor need to start the repairs on my home pretty agreement XX/XX/XXXX in order to get the repairs done in a timely manner, I received the check on XX/XX/XXXX. I took the check to Wells Fargo. I walked it inside the branch with all the documents, supporting the check from the insurance company and from the mortgage company I didnt ask the teller how long this check would take to clear reason being, I am pressed for time, she didnt deposited the check gave me the outline of when the funds would be available the first {$220.00} would be available on XX/XX/XXXX the second would be {$5300.00} on XX/XX/XXXX the final balance of {$20000.00} would be available on XX/XX/XXXX. I received an email XX/XX/XXXX stating that my funds will be held for an additional week due to the check maker has not produced the funds either then call XXXX my insurance company to confirm what is going on with the check XXXX informed me that there was no issue with the check and this is an issue with my bank and not them. I didnt call back Wells Fargo explain to them exactly what XXXX said to me day then told me I need to go into the branch and get further information either, then went into the bank spoke with the branch manager. XXXX XXXX XXXX : ID XXXX. She then informed me that the funds would not clear, and they were issues with my check. I didnt ask if I could get the check back and I will refer it back to XXXX XXXX She then told me that thats not possible the check is in process. My response was if the check is in process and not cashed why cant I get it back, she told me that the check code was refer to maker. I explained to the branch manager time is crucial my daughter is getting in less than a month and its crucial that I have my home back to where it needs to be in order for my daughters wedding to go smoothly. XXXX asked, why was I given the specific dates on clearance of the check and now the check is being held with no reason I contact XXXX my Contractor assured me he contact the accounting department, and they was no issue with my check. The check has been cashed and cleared, and there is no issue behind the check that was issued to me. I didnt contact the XXXX XXXX XXXX . I filed a complaint after the complaint was filed. I received an email from Wells Fargo and the XXXX XXXX XXXX saying that the two correspondent was done, I didnt called Wells Fargo with the person. The person that was handling my account name is XXXX. I took the time and explain to the gentleman my situation. I explain my timeline, and I ask what was wrong with the check he could not give me a clear answer. First, he told me that loss prevention was looking at my check in my transaction, I asked why he didnt have any reason, I then said I dont understand what is happening. I refer to all the emails I got from Wells Fargo to him. He told me that the check is saying refer to maker. I then told him that I have several emails point of contact with XXXX stating that there was nothing wrong with my check. I need those funds immediately so I could move forward with my home repair he then told me it was their decision they were holding the check and that is the bottom line and there is nothing else that theyre going to do for me and my check in close are the emails from XXXX stating that theres nothing wrong with my check including point of contact my Wells Fargo receipt and other supporting documents to my issue I am in a desperate situation. My daughters wedding is going to be ruined because my home is not going to be repaired in time. Wells Fargo is telling me that my check will not be available till after the XXXX that puts me in a bad place with my Contractor and the plans for my daughters wedding in Wells Fargo can not give me any information on why my check is being held for no reason at all Ive had several bad encounters with Wells Fargo. My husband have insist that I transferred banks, and at this point, thats what I will have to do but it does not resolve the issue on hand right now to get my funds to move forward today I opened up my mail and here it is a check from Wells Fargo where they violated me an overdraft fees almost a year ago and constantly getting these checks from them a {$35.00} check for overdraft fees. It has been a bad relationship with Wells Fargo. I kept the relationship because I wanted to trust him. Its been over 12 years now I have been with Wells Fargo and I dont understand why this is being done to me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CT
Zip: 06010
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Other features, terms, or problems
Subissue: Other problem
Consumer Complaint: My XXXX XXXX card was automatically transferred to Wells Fargo on XX/XX/2023. I activated it that day. I went on line to set up the account for payment on line that same day and I was unable to do so. I called their XXXX number for assistance and was told they needed more information and I needed to go a branch to try and set up the account on line. I then called their customer service number who then transferred me XXXX and spoke with XXXX who told me I needed to have a mobile phone in order to open the account on line. I told her I did not have a mobile phone and that the site stated in the on line application that the mobile phone was only recommended. She told me that it was required. I said I thought that would be discriminatory against elderly and poor people. She forwarded me to their XXXX XXXX and I spoke with XXXX and I told him to just cancel the card. He recommended that I wait until my payment by phone was processed. The next day I received a message from XXXX XXXX from XXXX XXXX offices. I left 3 messages for her and did not receive a call back. On XX/XX/XXXX I received a letter from XXXX that my phone payment had been credited to the account. I then called and closed my account. Told them the reason for closing the account was that the requirement to have a mobile phone in order to open the on line account was discriminatory and that no other financial institution that I deal with requires that. No one talked to has been able to explain their policy. I still believe that the requirement to have a mobile phone is discriminatory.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 857XX
Submitted Via: Web
Date Sent: 2023-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: XXXX XXXX, after my husband died late XX/XX/XXXX, I took the Certificate of Deposit we opened with XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX on XX/XX/XXXX to Wells Fargo XXXX XXXX Branch. My daughter met with me at Wells Fargo on XXXX XXXX as witness. My husband and I had the same account starting with XXXX XXXX and stuck with them through every merger, including with Wells Fargo so we concluded Wells Fargo would disburse these funds owed. I brought the original and uncollected Certificate of Deposit to Wells Fargo ( Branch XXXX ) and was told it could not be found and to resort to the branch my husband and I opened the Certificate of Deposit with originally. XX/XX/XXXX, we, followed up with Wells Fargo XXXX ( XXXX XXXX ) to search for my unclaimed Certificate of Deposit. We were told that although I have the physical original document, they have no record of the Certificate of Deposit. We have the physical copy that would require to be turned in for it to be cashed, it states that in the directions of the Certificate of Deposit. As it also states on the official document, certificate no XXXX, NOT TRANSFERABLE, AUTOMATIC RENEWAL. If this Certificate of Deposit was electronically redeemed there should be some trail leading back to the transaction attached to the taxpayers ID. We did not ever redeem this deposit. As requested back in XX/XX/XXXX, we escalated this citation to the Estate Center of Wells Fargo and received a case number to continue researching the unredeemed funds. We also continued by contacting the division of unclaimed property with the Florida Department of Financial Services. Since November 2021 we have reached out to, Wells Fargo Care Estate, Wells Fargo Unclaimed Property, The Unclaimed Property Division of the Department of Financial Services, and both Assessment Operations & Claims Administration Analyst Department with the FDIC. Every resource stated they have zero record of this Certificate of Deposit. On XXXX XXXX We spent hours on the phone with XXXX who escalated the details to XXXX who reported the situation with the executive complaint management department of Wells Fargo. On XXXX XXXX, my granddaughter and I met with XXXX at Wells Fargo XXXX to continue searching for this Certificate of Deposit. She reviewed each document seeing that each response led to no one finding any information on our unredeemed certificate of deposit. XXXX contacted a higher up who advised the unclaimed fund department could look further and start a claim with the unclaimed property department ( even though we had done that already and provided proof. ) XXXX XXXX, we received a response to our complaint with Wells Fargo via email. They wrote, After contacting their Interest Reporting Team they were unable to see any statements that showed the CD account and after exhausting all other resources, we found no other records of escheatment history for this account. In their response they replied with a case number we were not given before. We are unsure why they keep giving us different numbers that do not match during each conversation. During this entire process Wells Fargo keeps stating if any account was closed or redeemed, they can only be accessed within XXXX years. Wells Fargo is not required to hold information on closed or redeemed accounts past the seven-year time span. Wells Fargo only has access to any statements within the last seven years, even if the account has been open for longer. Anything unclaimed when an account was closed would be sent to the state department. Wells Fargo has continued to deny disbursement of the Certificate of Deposit but they are responsible for this considering they purchased XXXX, who originally purchased XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32796
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: False statements or representation
Subissue: Impersonated attorney, law enforcement, or government official
Consumer Complaint: Wells Fargo Bank as with the victims of the XX/XX/XXXX CFPB Consent Order, engaged in illegal activity that prevented me from XXXX protection! Wells mislead me that at first before the XX/XX/XXXX, foreclosure that they were the owner of my mortgage debt up until a week or so before the foreclosure and they changed their story that XXXX XXXX was the owner of my mortgage debt, which neither XXXX or Wells paid a single red cent for the debt, as would not be a debtor of the XXXX XXXX XXXX mortgage loan I had. Wells for the last XXXX years has sent documentation were none of it is a receipt that they paid or XXXX paid any monies for the alleged debt they claim I owed them. What Wells did was to hold me hostage to the hope of the processing of the XXXX XXXX XXXX XXXX which was required under the XXXX agreement that Wells signed and received {$25.00} XXXX bailout from. I requested proof of purchase from Wells would is in possession of my mortgage file that contains all the documents from the loan, and a XXXX Assignment of Deed is not proof of purchase! Wells does not present the receipt, wire transfer or cancel check because one does not exist. Wells can not act for XXXX XXXX because that XXXX Government agency can not by law buy or sell a mortgage loan, and did not purchase my loan! As Wells did with the other XXXX victims starting on XX/XX/XXXX, was to prevent the XXXX to steal from the XXXX XXXX helping XXXX not hold up their end of the insurance obligations to their investors and illegally foreclosed on the victims to funnel those illegal funds to XXXX XXXX! What Wells wants now is to be made to pay fines for the thousands of XXXX XXXX XXXX heroes that they stolen our homes as Wells refused to modify any XXXX XXXX XXXX borrowers in XXXX according to the XXXX XXXX XXXX. Wells needs to understand that as with the XX/XX/XXXX, there is not statute of limitation on stolen monies from the XXXX XXXX. Wells was granted he power to mortgage service my loan by XXXX XXXX XXXX ( XXXX ), however, that power ended when the FDIC declared XXXX a " failed bank ''! As XXXX could not act after XX/XX/XXXX because they stop existing, Wells can not act for a entity that does not exist!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30248
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: 1 ) Pursuant to CPLR 3408 WELLS FARGO did NOT Negotiate a Mortgage Modification in Good Faith. 2 ) Pursuant to CPLR 3408 WELLS FARGO improperly Denied me a Mortgage Modification when as Per Wells Fargos own NPV Document shows I qualify at 30 % and within HAMP Guidelines. ( NPV Document attached ) 3 ) WELLS FARGO failed to follow Investors Service Agreement that DOES ALLOW MORTGAGE MODIFICATIONS. ( I have the PSA and attached relevant parts ) 4 ) WELLS FARGO Failed to provide a Modification in my XX/XX/XXXX Application under CPLR 3408 when in Wells Fargos NPV Document Proves Im within HAMP Guidelines at 30 % but Wells Fargo incorrectly denied me and stated it was over 42 %. In my complaint with CFPB on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and in phone conversations with Wells Fargo Representatives on XX/XX/XXXX and XX/XX/XXXX I asked for a documentation Wells Fargo used in coming up with my income was over 42 %, but to date Wells Fargo has ignored every request in violation of CPLR 3408 ( e ). XXXX ) WELLS FARGO in Violation of CPLR 3408 ( e ) IF A LENDER HAS DENIED THE APPLICATION, THE FOLLOWING IS REQUIRED ( REQUIRED ) : 1 ). DENIAL LETTER GIVING THE DATA INPUT FIELDS AND VALUES USED IN THE EVALUATION. 6 ) WELLS FARGO in Violation of CFR 1024.41 ( d ) ( 2 ) - Loss Mitigation Procedures- ( d ) Denial of loan modification options : 2 ) NET PRESENT VALUE CALCULATIION ( NPV ). If a trial or permanent loan modification is denied because of a net present value calculation, THE SPECIFIC REASONS IN THE NOTICE PROVIDED TO THE BORROWER MUST INCLUDE THE INPUTS USED IN THE NET PRESENT VALUE ( NPV ) CALCULATUION. In Wells Fargos Denial of my XX/XX/XXXX Modification Application just stated PROPOSED MODIFICATION MONTHLY PAYMENT AMOUNT WOULD BE MORE THAN 42 % OF GROSS MONTHLY INCOME. My Attorney responded with the NPV inputs telling Wells Fargo their calculations were inaccurate and to recalculate but they denied it again with the same answer. In the denial, WELLS FARGO never included THE INPUTS USED IN THE NET PRESENT VALUE ( NPV ) CALCULATUION which they MUST include and in Violation of CFR 1024.41 ( d ) ( 2 ). 7 ) WELLS FARGO In Violation of HAMP Section 6.5 If as Wells Fargo Claims, investor does not participate in program why did Wells Fargo perform an NPV? HAMP Section 6.5 states - If the SERVICER IS SUBJECT TO RESTRICTIONS THAT MAKE IT UNFEASIBLE TO COMPLETE THE MODIFICATION waterfall steps, the SERVICER SHOULD IDENTIFY THIS PRIOR ( PRIOR ) TO PREFORMING THE NPV EVALUATION and NOT PREFORM AN NPV EVALUATION. 8 ) WELLS FARGO in Violation of HAMP Section 6.5 by having me Apply for a HAMP Modification and Wells Fargo preforming the NPV evaluation if the Investor has restrictions. WELLS FARGO is also In Violation of APPELLATE COURT Ruling APPELLATE DIVISION, SECOND DEPARTMENT, NEW YORK U.S. Bank Nat. Ass'n v. Smith , 123 AD3d 914 Dec. 17, XXXX. If the servicer is subject to restrictions that make it unfeasible to complete the modification waterfall steps, the servicer should identify this PRIOR TO PERFORMING THE NPV EVAUATION and NOT PERFORM an NPV evaluation. 9 ) WELLS FARGO in Violation of CFR 1024.41 ( d ) ( 1 ) - Loss Mitigation Procedures- ( d ) Denial of loan modification options : 1 ) Investor requirements. If a trial or permanent LOAN MODIFICATION OPTION IS DENIED BECAUSE OF A REQUIREMENT OF AN OWNER OR ASSIGNEE of a mortgage loan, THE SPECIFIC REASON ( SPECIFIC REASON ) IN THE NOTICE PROVIDED TO THE BORROWER MUST ( MUST ) IDENTIFY the owner or assignee of the mortgage loan and THE REQUIREMENT THAT IS THE BASIS OF THE DENIAL. A STATEMENT THAT THE DENIAL OF A LOAN MODIFICATION OPTION IS BASED ON AN INVESTORS REQUIREMENT WITHOUT ( WITHOUT ) ADDITIONAL INFORMATION SPECIFFICALLY IDENTIFYING ( SPECIFFICALLY IDENTIFYING ) THE RELEVANT INVESTOR AND THE SPECIFIC APPLICATION REQUIREMENT IS INSUFFICIENT. In my 2nd Modification Application XX/XX/XXXX Wells Fargo Denied me based on investor does not participate in program WITHOUT ADDITIONAL INFORMATION. Wells Fargo Never provided THE SPECIFIC REASON. Wells Fargo Notice never SPECIFFICALLY IDENTIFYING THE RELEVANT INVESTOR. Wells Fargo failed to provide THE REQUIREMENT THAT IS THE BASIS OF THE DENIAL. 10 ) WELLS FARGO In Violation of HAMP Section - 1.3 Investor Solicitation Wells Fargo had the Duty to review all servicing agreements to determine investor participation in HAMP. Since Wells Fargo is claiming after my 2nd modification application the investor does not participate in program they are in Violation of HAMP 1.3. 11 ) WELLS FARGO In Violation of HAMP Section - 1.3 Investor Solicitation - WELLS FARGO FAILED to contact the investor in writing asking for a Waiver. 12 ) WELLS FARGO In Violation of HAMP Section - 1.3 in As per APPELLATE DIVISION, SECOND DEPARTMENT, NEW YORK. CITIMORTGAGE INC v. LOFRIA. Since the plaintiff failed to demonstrate that it followed HAMP regulations and guidelines, i.e., that it MADE ANY EFFORT AT ALL TO SEEK A WAIVER FROM THE as to the restriction which made it unfeasible to complete the modification waterfall steps, it FAILED to establish that it NEGOIATED IN GOOD FAITH pursuant to CPLR 3408 ( f ). Also in the COURT OF APPEALS ( listed later in complaint ), WELLS FARGO FAILING TO PROVIDE A WAIVER OF THE INVESTOR RESTRICTIONS DEMOSTRATES A FAILURE TO FOLLOW HAMP GUIDELINES WHICH CONSTITUTE A FAILURE TO NEGOIATE IN GOOD FAITH PRUSUANT TO CPLR 3408 ( f ). 13 ) WELLS FARGO In violation of HAMP Section 7.0 Net Present Value ( NPV ) - Testing All loans that meet HAMP eligibility criteria. ( 1 ) Using the standard modification waterfall, THE RESULTS IS DEEMED POSITIVE AND THE SERVICER MUST ( MUST ) OFFER A MODIFICATION. In WELLLS FARGOS NPV Document in my 1st Application XX/XX/XXXX it proves a POSTIVE result with me at 30 % and in HAMP Guidelines yet Wells Fargo Declined me in Violation of HAMP Section 7.0. 14 ) WELLS FARGO in Violation of CPLR 3408 ( e ). I Requested from Wells Fargo multiple times for a copy of the Investors PSA for my review to see the servicing Rules, Restrictions or Prohibitions. Wells Fargo Response XX/XX/XXXX Weve completed our review of your request for pooling and servicing agreements and a copy of the investor restrictions used in the modification review. Due to the items being confidential, privileged and/or proprietary information, were unable to provide the information requested. Per CPLR 3408 ( e ) if borrower is denied based on investors restrictions they are required to provide EVIDENCE of the PSA. Wells Fargo in Violation of CPLR 3408 ( e ) IF A LENDER HAS DENIED THE APPLICATION, THE FOLLOWING IS REQUIRED ( REQUIRED ) : 2 ). IF DENIAL WAS BASED ON INVESTOR RESTRICTIONS, EVIDENCE SUCH AS A POOLING AND SERVICING AGREEMENT. 15 ) WELLS FARGO is also In Violation of XXXX COURT RULINGS by not providing the PSA as ruled in XXXX SUPREME COURT ( bellow ) the plaintiff must provided the PSA with Documentary evidence of the restrictions. Supreme Court of NYS Bank of Am., N.A . v Rausher 2014 - A plaintiff who contends that it can not agree to a loan modification or other arrangement that would allow a defendant to stay in his home because of an " investor '' prohibition or restriction must ( MUST ) provide the court with suitable documentary evidence of the restriction Clearly, plaintiff 's refusal to even consider the defendant 's loan modification has violated its obligation to negotiate in good faith pursuant to CPLR 3408 ( f ). 16 ) WELLS FARGO In Violation of the HEARSAY RULE. Wells Fargo just stating Investor does not participate in the program without any evidence or documentation, Falls under NYS and FEDERAL RULES of HEARSAY under FEDERAL RULES OF EVIDENCE RULE 801 ( C ) HEARSAY, RULE 802, RULE 803 ( 7 ) ( 15 ) all listed at the end of this complaint. 17 ) WELLS FARGOs statement Investor does not participate in the program is False and Untrue. I obtained a copy of the investors Prospective Pooling Service Agreement ( see attached document ) and it States ( in part ) that " the Servicer ( Wells Fargo N.A. ) Under SERVICING OF MORTGAGE LOANS, Modifications, will be permitted to modify, wave or amend any term if such mortgage loan ''. 18 ) I have documentation between my attorney and Wells Fargos Mediation Specialist ( attorney ) requesting Wells Fargo to reconsider the Mortgage Denial, but that also got denied. Why would Wells Fargos own Mediation Specialist ( as Wells Fargos describes attorney handling settlement conferences ) ask them to reconsider my CPLR 3408 HAMP Modification? Because the Mediation Specialist agreed that I qualified for a Mortgage Modification! Wells Fargo also in Violation of XXXX Court Ruling, " Supreme Court of XXXX Bank of Am., N.A . v Rausher 2014 - A plaintiff who contends that it can not agree to a loan modification or other arrangement that would allow a defendant to stay in his home because of an " investor '' prohibition or restriction must provide the court with suitable documentary evidence of the restriction '' Clearly, plaintiff 's refusal to even consider the defendant 's loan modification has violated its obligation to negotiate in good faith pursuant to CPLR 3408 ( f ). In 2013 Wells Fargo filled out and presented to my Attorneys and myself an NPV document for my March 2013 Application, showing my monthly income, mortgage taxes and insurance, Principal and interest payment of the Proposed HAMP modification, a revised interest rate of 2 % and a mortgage term from 360 months to 480 months. According to HAMP Section 7 loans that meet the applicable HAMP eligibility criteria in Section 1 must be evaluated using a standardized NPV test so Wells Fargo determined that I was eligible for a HAMP Modification and in so determining went to the next step and filled out the NPV document. How can Wells Fargo determine my Qualification or fill out the NPV if the Investor does not Participate? It has already been stated in Section 1.3 that Wells Fargo should had determine investor participation in HAMP and Section 6.5 and XXXX APPELLATE COURT that Wells Fargo should not fill out a NPV Document if investor does not participate. My Complaint against Wells Fargo which they continually fail to properly answer and/or truthy and hide behind false statements. 1 ) Most recent complaint filed XX/XX/XXXX and answered by Wells Fargo on XX/XX/XXXX. Complaint stated a ) Wells Fargo per CPLR 3408 with my XX/XX/XXXX modification, failed to modify my mortgage. When using XXXX Document Wells Fargo Provided, It proves Im at 30 % and within HAMP Guidelines, but Wells Fargo incorrectly stated I was over 42 %. I have asked Wells Fargo to show the Math they used per CPLR 3408 ( e ) in coming up that Im over 42 %. Using Wells Fargos NPV Document proves Wells Fargos Software error caused an Improper Denial. In My second Modification Submittal XX/XX/XXXX, I entered a correction in income where my monthly income substantially increased and would have lowered my monthly income to around 24 % Well within HAMP Guidelines. Conveniently this time Wells Fargo Stated Investor does not participate in the program. Wells Fargo also stated my Monthly income was insufficient? I have asked Wells Fargo for a copy of the Investors POOLING SERVICE AGREEMENT ( PSA ) explaining all Rules, Restrictions or Preclusions. Wells Fargo on 5/3/23 answered requested are considered confidential, privileged and/or proprietary information of Wells Fargo . FIRST, any information perinate to my mortgage must be disclosed to me. SECOND, by Wells Fargo just stating Investor does not participate in the program Falls under NYS and FEDERAL RULES of HEARSAY under FEDERAL RULES OF EVIDENCE RULE 801 ( C ) HEARSAY, RULE 802, RULE 803 ( 7 ) ( 15 ) all listed at the end of this complaint. If Wells Fargo makes a Claim based on a Document, they must submit the Document. Also, if an Attorney request the PSA, it must be given, I am acting here Pro Se and as such I requested the document 3 times but still have been denied. THIRD, a PSA is filed with the SEC and is a public Document. I Have looked up and found the INVESTORS PSA DOCUMENT on the SEC Website ( relevant parts listed at the end of this document ). The Document - PSA ( Prospective ) filed ; XXXX XXXX XXXX Company - XXXX XXXXXXXX XXXX XXXX XXXX COLLATERALIZED ASSET-BACKED BONDS, SERIES XXXX THE TRUST. Company - XXXX XXXX XXXX Indenture Trustee - XXXX XXXX XXXX XXXX XXXX XXXX It lists ; Subservicer - WELLS FARGO BANK, N.A.. The Perinate Points of this Prospective PSA Document States TABLE OF CONTENTS - Servicing of Mortgage Loans - Page 14. MODIFICATIONS ( MODIFICATIONS ) - PAGE 15. EACH MULTIFAMILY LOAN WILL BE SUBJECT TO SPECIAL SERVICING PROVISIONS. Each Specially Serviced Multifamily Loan will be serviced in accordance with the special servicing provisions of the Servicing Agreement and the related subservicing agreement. THESE PROVISIONS INCLUDE MODIFYING ( MODIFYING ) THE TERMS OF THE LOAN IF NEEDED, selling the related mortgaged property. IF A METERIAL DEFAULT OCCURS or a payment default is reasonably foreseeable with respect to a multifamily loan, the MASTER SERVICER OR THE SPECIAL SERVICER WILL BE PERMITTED, TO MODIFY ( MODIFY ), WAIVE ( WAVE ) OR AMEND ( AMEND ) ANY TERMS ( ANY TERMS ) OF SUCH MORTGAGE LOAN, provided that SUCH MODIFICATIONS ( MODIFICATIONS ), waiver or amendment ( 1 ) is reasonably likely to produce a greater recovery with respect to such mortgage loan. WELLS FARGO HAS BEEN DECIETFUL IN THEIR ANSWER as INVESTOR ALLOWS MODIFICATIONS!! Clearly the Wells Fargos Investors PSA lets the Servicer provide Modifications. Again, I ask Wells Fargo Why was I denied my Mortgage Modification Pursuant to CPLR 3408 when on two modification submittals I showed my income at 30 % and around 24 %. Wells Fargo Incorrectly denied me a modification AND Wells Fargo failed to Deal in GOOD FAITH per CPLR 3408. Wells Fargo was in Violation of HAMP Guidelines by denying me a copy of Investors PSA. Defined under the HAMP Guidelines When a servicer believes a PSA prevents an NPV-positive modification, the servicer shall contact the trustee and any other parties authorized under the terms of the PSA to grant a waiver, whether individual investors, credit rating agencies, bond insurers, or otherwise, in order to obtain permission to perform a HAMP modification. THE SERVICER SHALL PROVIDE ( THE SERVICERS SHALL PROVIDE ) THE BORROWER OR THE BORROWERS REPRESENATIVE A COPY ( A COPY ) OF THE LIMITING LANGUAGE IN THE POOLING SERVICE AGREEMENT ( PSA ) ( IN THE POOLING SERVICE AGREEMENT ), A COPY OF ALL CORRESPONDENCE ( A COPY OF ALL COROSPONDENCE ) WITH THE LENDER AND INVESTORS ATTEMEPTING TO OBTAIN AUTHORITY TO PREFORM A MODIFICATION, AND ELECTRONIC ACCESS TO A COMPLETE AND UNALTERED COPY OF THE PSA. Asking Wells Fargo for a Copy of the Mandatory Waiver they had to ask the Investor for. Failure to ask for a Waiver is a Violation of HAMP. If Investor does not participate in the program Wells Fargo should had know that withing 90 Days of executing the SPA. Wells Fargo Became the Servicer of the Investor in XX/XX/XXXX so they should had been aware of the restrictions as of XX/XX/XXXX. But for some reason Wells Fargo had me apply for a Modification 3 times in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, why if the Investor does not participate? Why a 3rd time after they said investor does not participate? All 3 times Wells Fargo Stated my income is not sufficient and over 42 % where Wells Fargos own NPV document shows Im 30 % or under and within the HAMP Guidelines. HAMP Guidelines - 1.3 Investor Solicitation - Within 90 days of executing a SPA, the servicer MUST review all servicing agreements to determine investor participation in HAMP. Within 30 days of identifying an investor as a nonparticipant, or as unwilling to extend its participation in MHA to include any extension or expansion of an MHA program, or identifying a servicing agreement that limits or prohibits a servicer from offering any assistance available under MHA, including HAMP Tier 2 modifications ( i.e., prohibition against modification of non-owner occupied mortgages or limits on multiple modification of the same mortgage ), THE SERVICER MUST CONTACT THE INVESTOR IN WRITING AT LEAST ONCE, ENCOURAGING THE INVESTOR TO PERMIT MODIFICATIONS and other assistance available under the extended and expanded MHA programs. The Servicers should know at the time of the identification of potential candidates for the HAMP programs the eligibility qualification of the candidates based upon the servicing agreement between the Servicer and the Investor, pursuant to the Pooling and Servicing Agreement ( PSA ). This is also a mandate of the Making Homes Affordable Program, Handbook for Servicers of Non-GSE Mortgages. WELLS FARGO under HAMP had an obligation by XX/XX/XXXX to determine investor participation in HAMP and to request a WAIVER. As Per the COURT OF APPEALS ; IN THE COURT OF APPEALS OF THE STATE OF WASHINGTON LISSON vs WELLS FARGO BANK , N.A . ; XXXXXXXX XXXX XXXX, XXXX. as Trustee for XXXX XXXX XXXX XXXX XXXX Loan Trust Mod from XXXX XXXX. See, Making Home Affordable Program, Handbook for Servicers of Non-GSE Mortgages, version 4.0, ch 2, 6.5 at 99 ( XX/XX/XXXX ). FAILING TO PROVIDE A WAIVER OF THE INVESTOR RESTRICTIONS DEMOSTRATES A FAILURE TO FOLLOW HAMP GUIDELINES WHICH CONSTITUTE A FAILURE TO NEGOIATE IN GOOD FAITH PRUSUANT TO CPLR 3408 ( f ). Wells Fargo Failed to follow State and Federal Rules. HAMP Section 1.6 Compliance with Applicable Laws Each servicer and any sub-servicer that the servicer uses will be subject to and must fully comply with all federal, state, and local laws, including statutes, regulations, ordinances, administrative rules and orders that have the effect of law, and judicial rulings. HAMP Section 2.2 Documentation - Servicers are required to maintain appropriate documentary evidence of their MHA-related activities. Required general documentation applicable to all MHA Programs includes but is not limited to : ( 1 ) Evidence of assessment of investor willingness to participate in MHA programs and any specific outreach to investors or attempts to obtain waivers on either a portfolio or loan by loan basis, including copies of any contracts with investors relied upon in denying modifications. This should include, where applicable, documentation relating to specific parameters or limitations on participation required by investors for steps in the waterfall. ( 2 ) All documents and information related to the servicers consideration of the borrower for other loss mitigation alternatives. HAMP Section 6.5 Prohibitions on Modification Waterfall Steps- If the SERVICER IS SUBJECT TO RESTRICTIONS THAT MAKE IT UNFEASIBLE TO COMPLETE THE MODIFICATION waterfall steps, the SERVICER SHOULD IDENTIFY THIS PRIOR ( PRIOR ) TO PREFORMING THE NPV EVALUATION and NOT PREFORM AN NPV EVALUATION. Servicers must maintain evidence in the loan file documenting the nature of any deviation from taking any sequential modification step in the modification waterfall and the fact that the applicable servicing agreement, investor guideline or law restricted or prohibited fully performing the modification waterfall step. The documentation must show that the servicer made a reasonable effort to seek a waiver from the investor and whether that waiver was approved or denied. In Violation of Section 6.5 Prohibitions on Modification, Wells Fargo did provide to me a NPV when its Investor had restrictions. I have asked Wells Fargo on XX/XX/XXXX for a copy of the waiver Wells Fargo asked the Investor for but Wells Fargo has failed to provide one. HAMP Section 7 Net Present Value ( NPV ) Testing - All loans that meet the applicable HAMP eligibility criteria in Section 1 must be evaluated using a standardized NPV test that compares the NPV result for a modification to the NPV result for no modification. FEDERAL RULES OF EVIDENCE RULE 801 ( C ) HEARSAY - Hearsay is a statement, other than one made by the declarant while testifying at trial offered in evidence to prove the truth of the matter asserted. Rule 802 - Bars the admission of hearsay evidence unless an exception applies. Rule 803. Exceptions to the Rule Against Hearsay - The following are not excluded by the hearsay rule ; 7 ) Absence of a Record of a Regularly Conducted Activity. Evidence that a matter is not included in a record described in paragraph ( 6 ) if : ( C ) the opponent does not show that the possible source of the information or other circumstances indicate a lack of trustworthiness. ( 15 ) Statements in Documents That Affect an Interest in Property. A statement contained in a document that purports to establish or affect an interest in property if the matter stated was relevant to the documents purpose unless later dealings with the property are inconsistent with the truth of the statement or the purport of the document. IN SUMATION WELLS FARGO ( 1 ) WELLS FARGO Falsely Denying Me a Modification stating investor does not Participate in program. In this Complaint I Provided the Investors PSA prospective PROVING the INVESTOR DOES ALLOW MODIFICAATIONS!! ( 2 ) WELLS FARGO Failed to provided me the Investors PSA per HAMP, I requested numerous times in my CFPB Complaints ( QWR ). Wells Fargo denied it saying it is confidential, privileged and/or proprietary information of Wells Fargo . By myself searching for the Public Document filed at the SEC, it shows why WELLS FARGO DENIED MY REQUEST. Wells Fargo denied my request against the Servicing Agreement Wells Fargo had with the Investor. INVESTORS PROSPECTIVE PSA STATES the MASTER SERVICER OR THE SPECIAL SERVICER WILL BE PERMITTED, TO MODIFY WAIVE OR AMEND ( AMEND ) ANY TERMS ( ANY TERMS ) OF SUCH MORTGAGE LOAN, provided that SUCH MODIFICATIONS, waiver or amendment ( 1 ) is reasonably likely to produce a greater recovery with respect to such mortgage loan. WELLS FARGO HAS BEEN DECIETFUL IN THEIR ANSWER as INVESTOR ALLOWS MODIFICATIONS!! ( 3 ) In 1st Modification Application as per NPV Document my monthly income was at 30 % but Wells Fargo incorrectly denied me stating it was at 42 %. Wells Fargo In Violation of CPLR 3408, HAMP Guidelines, CPLR 3408 ( e ), CFR 1024.41 ( d ) ( 1 ) ( 2 ) ( 4 ) WELLS FARGO in Violation of HAMP Section 7.0 Net Present Value ( NPV ) - ( 1 ) Using the standard modification waterfall, THE RESULTS IS DEEMED POSITIVE AND THE SERVICER MUST ( MUST ) OFFER A MODIFICATION. In Wells Fargos own NPV Document shows Im at 30 % and within HAMP Guidelines making my XX/XX/XXXX Modification Application POSITIVE. ( XXXX ) WELLS FARGO in Violation of HAMP 6.5 With knowing the Investors Restrictions, Wells Fargo should not had run an NPV Evaluation. ( 6 ) WELLS FARGO in Violation of the Appellate Court Rulings If the servicer is subject to restrictions that make it unfeasible to complete the modification waterfall steps, the servicer should identify this PRIOR TO PERFORMING THE NPV EVAUATION and NOT PERFORM an NPV evaluation. ( 7 ) In 2ND Modification Application was now denied on investor does not participate in program. Wells Fargo in Violation of CPLR 3408 did not Negotiate in Good Faith. Wells Fargo should had known the Investors restrictions before ever having me start a Useless Modification Applications lasting over 1 year. ( 8 ) WELLS FARGO in Violation of the FEDERAL RULES OF EVIDENCE RULE 801 ( C ) HEARSAY, RULE 802, RULE 803 ( 7 ) ( 15 ). Making a broad Statement investor does not participate in program when Wells Fargo has the documents to back it up but fails to provide them, the statement falls under Hearsay. ( 9 ) WELLS FARGO In Violation of HAMP Section - 1.3 Investor Solicitation Wells Fargo had the Duty to review all servicing agreements to determine investor participation in HAMP. Since Wells Fargo is claiming after my 2nd modification application the investor does not participate in program they are in Violation of HAMP 1.3. ( 10 ) WELLS FARGO In Violation of HAMP Section - 1.3 Investor Solicitation - WELLS FARGO FAILED to contact the investor in writing asking for a Waiver. ( 11 ) WELLS FARGO In Violation of APPELLATE RULING APPELLATE DIVISION, SECOND DEPARTMENT, NEW YORK. CITIMORTGAGE INC v. LOFRIA failed to demonstrate that it followed HAMP regulations and guidelines, i.e., that it MADE ANY EFFORT AT ALL TO SEEK A WAIVER ( 12 ) WELLS FARGO In Violation of APPEALS Court Ruling in THE COURT OF APPEALS LISSON vs WELLS FARGO BANK N.A. ; XXXXXXXX XXXX XXXXXXXX, XXXX. as Trustee for XXXX XXXX FAILING TO PROVIDE A WAIVER OF THE INVESTOR RESTRICTIONS DEMOSTRATES A FAILURE TO FOLLOW HAMP GUIDELINES WHICH CONSTITUTE A FAILURE TO NEGOIATE IN GOOD FAITH PRUSUANT TO CPLR 3408 ( f ). ( 13 ) WELLS FARGO in Violation of CPLR 3408 ( e ) IF A LENDER HAS DENIED THE APPLICATION, THE FOLLOWING IS REQUIRED ( REQUIRED ) : 1 ). DENIAL LETTER GIVING THE DATA INPUT FIELDS AND VALUES USED IN THE EVALUATION. I Requested from Wells Fargo multiple times for a copy of the Investors PSA for my review to see the servicing Rules, Restrictions or Prohibitions. Wells Fargo Response 5/3/23 Weve completed our review of your request for pooling and servicing agreements and a copy of the investor restrictions used in the modification review. Due to the items being confidential, privileged and/or proprietary information, were unable to provide the information requested. Per CPLR 3408 ( e ) if borrower is denied based on investors restrictions they are required to provide EVIDENCE of the PSA. Wells Fargo in Violation of CPLR 3408 ( e ) IF A LENDER HAS DENIED THE APPLICATION, THE FOLLOWING IS REQUIRED ( REQUIRED ) : 2 ). IF DENIAL WAS BASED ON INVESTOR RESTRICTIONS, EVIDENCE SUCH AS A POOLING AND SERVICING AGREEMENT. This is another Qualified Written Request ( QWR ) pursuant to the Real Estate Settlement and Procedures Act ( section 2605 ( e ) ). 1 ) Specifically requesting from Wells Fargo, a copy of the Investors PSA showing the Guidelines, Rules and Restrictions the Mortgage Servicer must follow. 2 ) Again, Im asking Wells Fargo for the documents that show how they came up with your modified payment amount would be more than 42 % of your monthly income. I have the Wells Fargo NPV proving using Wells Fargos numbers that I qualify at 30 % of HAMP. 3 ) Im asking Wells Fargo for the documents that show the written request ( per Section 1.3 ) of the investor for a Waiver of the restrictions. 4 ) Specifically requesting from Wells Fargo, per HAMP Guidelines Section 6.5 Im requesting a copy of the request that Wells Fargo MUST SEND TO INVESTOR SEEKING A WAIVER REQUEST and whether or not that Waiver was approved or not.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11725
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: I submitted a claim on XX/XX/ and XXXX for over {$16000.00} in unauthorized transactions that were payable to " XXXX XXXX XXXX '' over a 6 month period prior to noticing this. I do not have any accounts with XXXX XXXX XXXX or any other online casino. In fact, I am " self excluded '' from participating in any gambling activities in the State of New Jersey. These funds were clearly a case of fraud, however Wells Fargo decided to deny my claim. I had a similar earlier claim for " XXXX XXXX '' which was APPROVED and the funds were returned to me. I'm not sure why Wells Fargo has denied this claim. To date, despite multiple requests, Wells Fargo has failed to contact me and give me the evidence as to why they believe I made the transactions. I have resubmitted the claim multiple times, tried for a smaller amount, spoke to a branch manager, discussed this with at least 5-6 agents from Wells Fargo , wrote a letter to the entire executive team at Wells Fargo . To date, I have not received any resolution to this matter other than " your claim is denied '' without any reasoning behind it. Wells Fargo states that their " accounts are fully protected against fraudulent transactions ''. This is not accurate, as I have not recovered this money. I have submitted the evidence that I am self excluded from online gaming activity. I have confirmed with the XXXX XXXX XXXX that I have never used their services. I am at a loss as to what I can do next.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 070XX
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A