Wells Fargo & Company Mortgage Complaint

Home equity loan or line of credit Credit decision / Underwriting

Wells Fargo & Company Mortgage department,

Home equity loan or line of credit Credit decision / Underwriting Florida

This is a simple request. I want Wells Fargo Home Equity Loan to report the correct Balance and monthly payment amount to the credit reporting agencies. Specifically, HELOC # - was reported -/-/2017 ( see attached ), after filing a dispute with all three credit reporting agencies one month ago, that the monthly payment was NOT $11000.00. The current monthly payment amount is $1200.00 as of -/-/2017. The principal balance on -/-/2017 was $410000.00. Please report the -/-/2017 monthly amount due and the principal balance on that date. This issue of incorrect balance reporting and incorrect monthly amount due has unfairly raised my monthly expense profile for Debt To Income ratio calculations. It creates unnecessary confusion for lending requests resulting in denials of credit and depresses my FICO score unfairly.

Wells Fargo & Company customer in Florida
Mar 31, 2017

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

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