Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Reverse mortgage Application, originator, mortgage broker Massachusetts

I would clarification the - Residential Loan Application for Reverse Mortgages. As per the - it is stated that the Mortgage applied for was FHA Traditional HECM. The FHA Case No. - - and states the loan payment plan is a line of credit. The monthly statments clearly state the loan is a LUMP SUM. The Lender Cas No. : - states that the purpose of the the loan was for ADDITIONAL INCOME. - questions-when did I receive additonal income? I brought additonal income for this Reverse Mortgage. Now I will skip over to the Final Loan Terms Document lists the initial interest rate at 4.990-Annual MIP Rate $ --Expected Rate/Fully Indexed rate-4.990-Maximum lending limit $ --Initial Principle Limit- $ --Other Closing Costs $ --Mortgage Lien Payoff $ --Repair Set Aside- $1300.00 Initial Funded Balance - Another Closing Document numbered - Applicable Law states All interest, Fees, and other amounts charged or accruing with regard to this loan, and all related documents, which are considered " interest '' under Section 85 of the National Bank Act ( 12 U.S.C. 85 ) as implemented by 12 C.F.R. 7.4001 ( a ), as amended from time to time, shall be governed by


banks and their operating subsidiaries and, to the extent not preempted by federal law, by applicable state and local laws of the state where the real estate securing the loan is located. The Applicable Law Act was enacted to protect the consumer. Could you explain the legality of the Applicable Law Document since the property is located in -? I expect to have my investigation done by -/-/2016 since I have many other concerns with the documents enclosed in the closing documents. There are many financial and federal consumer protection laws that Wells Fargo has either not complied with or provided their own documentation. - -