Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Conventional adjustable mortgage (ARM) Loan modification,collection,foreclosure Massachusetts

On - -, 2016 our mutual client received correspondence from Wells Fargo stating that they had received our request for a short pay off. They stated they needed a Letter of Hardship and Verification of funds which was sent and received on - -, 2016. The letter also stated that it would take 60-90 days to review for the request. As we waited for a response we never received any updates or response from Wells Fargo until - -, 2016 declining our request. The borrower showed a valid hardship which included the death of their only daughter. The borrower also requested to settle the debt for $450000.00 which is more than a considerate amount. Before he knew it there was a sale date of - -, 2016 placed on his home and he scrambled to gather documents for a loan modification because he so desperately wants to keep his home. After submitting all the requested paperwork by - -, 2016, the investor has still denied any review for retention options. Wells Fargo re-entry team has denied all retention options for the client for no reason. The borrower has sufficient income and provided all the documents in a timely manner. Due to Wells Fargo not getting back to us within the expected time frame we are now here at this point. Wells Fargo has violated CFPB rules and regulations and has continued to do so without repercussions. There is a good reason why they seem to be on the news every other day about lying to borrowers and not having their best interest.