Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Reverse mortgage Application, originator, mortgage broker Massachusetts

- -, I am disputing the issue of my $35000.00 as per the below federal disclosure laws. On - -, 2010, the President signed the Dodd-Frank Wall Street Reform and Consumer Protection Act ( the " Dodd-Frank Act '' ), enacting numerous provisions intended to reform the mortgage lending industry with an eye towards consumer protection. Many of these provisions are contained within Title -IV of the Dodd-Frank Act, the Mortgage Reform and Anti-Predatory Lending Act ( the " Mortgage Act '' or the " Act '' ) Subtitle E ( Mortgage Services ) of the Act reforms mortgage servicing practices addressed in TILA and the Real Estate Settlement Procedures Act ( 12 U.S.C. 2601 et seq., " RESPA '' ). The Act requires creditors in connection with a consumer credit transaction secured by a first lien on the consumer 's principal dwelling to establish an escrow or impound account in a federally insured depository institution for mandatory payments of taxes and insurances premiums. By regulation, the


a written disclosure advising on the consumer 's responsibilities and implications in the absence of any such account. The Act amends RESPA by adding new servicer prohibitions and increasing the penalty amounts for violation. A new TILA provision requires the servicer of a consumer credit transaction secured by the consumer 's principal dwelling to promptly credit payments to the consumer 's loan account, and to send accurate payoff balance information upon written request by the consumer. - - used the same pitch when he told me why I was to bring $35000.00 to a clsoing in order to receive a loan that is used for converting home equity into liquidity, thus Home Equity Conversion Mortgage. I did n't apply for a mortgage refinance or a commercial loan, I applied for a Traditional Reverse Mortgage. Where 's my $35000.00 that was escrowed?