Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting Texas

The purpose of this letter is to request a formal review of our loan modification that occurred last year. The entire experience was very painful as we were working with - - and then requested a new representative. - - became our focal point and after the long process of being denied a few times and served with foreclosure papers. We were in constant daily communication with - beginning in - -. Although - was not working then so she could not provide proof of employment, she received a severance package so we clearly had the funds to make full mortgage payments. The reason we were requesting a loan modification is lower monthly expenses not because we could afford the payment. This was our first experience with the process and repeatedly asked - for advice and instructions. - advised us to postpone full payments, however, until the process was completed. We relied on his advice and trusted that since we


One day, in between the calls with -, we were informed that our house was going to go through foreclosure. We were shocked, scared and confused because we had just talked to - and he said everything was fine and under review. When asked about the late payment notices, he advised us " not to worry - these letters were being automatically generated by another department. '' Again, we trusted him until people started knocking on our door offering financial counseling. This was so embarrassing, we requested a new representative. - - handled the rest well and suggested that our mortgage was fine and credit reporting would later be corrected. We are in the market to purchase a car and was informed that we have 3 late mortage payments last year at exactly the time of working with -. This is ridiculous because again, - had a full year severance that we could use, however, we were advised not to worry per -. Here we are almost a year later. Mortgage payment barely dropped and our credit score is negatively impacted due to working with Wells Fargo and listening to the advice of your representative. We are requesting that Wells Fargo either reverse the late payment notices or make notation that it was at fault in this process. We really need to buy a car so this needs to happen immediately. We have been dedicated customers to Wells Fargo for over 10 years and would hope that we would not have to change financial institutions considering we were given wrong instruction by one of your representatives. Regards, - and - - The above letter was sent to Wells Fargo on -/-/-. In -/-/-, we received notice that Wells Fargo would not do anything to modify our credit report. We were never in a hardship and was simply looking for a lower monthly payment. We were advised to not make full payments, which was wrong advice. We trusted the bank and have now suffered. The monthly payment ended up to be only $50.00 less after all of this unfortunate situation.