Review and analysis of over 45 Reverse Mortgage complaints against Wells Fargo & Company
Wells Fargo & Company consumers have reported over 45 official complaints related to Reverse mortgage. Out of the 45 consumer complaints against Wells Fargo & Company, 11% were disputed by the consumer (i.e. the consumer was not happy with how Wells Fargo & Company responded to their complaint) and 100% were processed in a timely manner. 2% of consumer complaints against Wells Fargo & Company resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 0% resulted in non-monetary compensation.
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Wells Fargo & Company Mortgage loan modification,collection,foreclosure March 27, 2017 - Wells Fargo took out reverse mortgage on a rental property I had instead of on my home, which I needed one on to pay mortgage and to remove husband 's name from it per divorce. This eventually forced me to move to that house, and my ex husband filed lawsuit for contempt!!! So I was forced to sell my long time home and move to unsuitable property that I could not - ... All because of predatory reverse mortgage. The salesman came to my home twice ... .Knew it was my beloved home. Then at " closing '' - strange unprofessional men I never saw before came to my home ... .When I changed mind a... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account January 6, 2017 - My father had a reverse mortgage with Wells Fargo Bank N.A . My attempts to call went a specialist assigned to my account usually went unreturned. I managed to get a payoff quote by faxing a request along with the required documentation. I received a payoff quote directly from Wells Fargo with specific instructions and a deadline. I followed those instructions and wired the funds on the payoff quote to the account given. I filled out the transmittal form and faxed it immediately after the funds were wired. I had received a similar payoff quote from a law firm stating that it represented Wells ... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 25, 2016 - - -, 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 practice... |
Wells Fargo & Company Mortgage settlement process and costs December 23, 2016 - Please refer to attachment for my initial dispute regarding Wells Fargo 's explanation of an FHA application as " Not Part of the closing documents '' It was done in " Good Faith '' First of all, I have a binded portfolio of ALL THE CLOSING DOCUMENTS along with HUD 1, HUD 2 etc. Each of the numerous documents including the HUD 1 and HUD 2 list the " Mortgage Insurance Case Number : -. '' One of the loan numbers submitted by - in an earlier response to my concerns lists - as one of the numbers assigned to the FHA/HUD mortgage. - states that the FHA CASE NUMBER is located in one of m... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 23, 2016 - This is my dispute of the Wells Fargo Response. Tried to fill out the actual dispute form but system is not working properly right now. I will re-submit. An official FHA application is a " good faith estimate ''? It Is stated on the FHA application that if the lender is Knowingly providing false information it is punishable by a fine or imprisonment. - - do you expect anybody to believe that an ethical big bank would chance sending a GFE on an official U.S Goverment application Document. - - would like us to believe that the FHA would approve a GFE application. The information on ... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 22, 2016 - I would like clarification regarding a letter from my - loan - indicating that Wells Fargo is offering mortgage assistance. The terms of the assisatnce are not in said letter. I found it strange that Wells Fargo did n't offer Government mortgage assistance from the start. Instead they opted for immediate foreclosure and/or a lump sum payment of $25000.00 that would go toward the money advanced on behalf of Wells Fargo for outstanding property taxes and some homeowner 's insurance and this years taxes would be paid. Keep in mind that Wells Fargo sales reps are required by law to look o... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 19, 2016 - I would like Wells Fargo to provide an explanation of the role that FHA INSURANCE plays from the collection of data, to the approval of said data, and subsequent usage of facts obtained from the data provided within the FHA application. I do know that I pay a MIP ( Monthly Insurance Premium ) as well as other servicing fees. I believe that I have been paying Insurance premiums based on a fraudulent lender FHA Insurance. I believe that I was approved for the HECM scam due largely in part to the fraudulent - Application. The fraudulent application from Con-Man Wells sales rep, - - - ... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 18, 2016 - For the sake of having my questions deemed 'Too Broad ', I would like to request the exact amount of loan to property value ratio that was used by Wells Fargo Reverse Mortgage Underwriters prior to loan origination. Using the very same FHA guidelines in terms of deciding just how much equity can be converted to cash, was there enough equity to convert to cash aka a 'Traditional Reverse Mortgage '? With an appraisal of $300000.00 and as Wells Fargo states $180000.00 in prior MORTGAGES and LIENS, is a Reverse Mortgage really the way to go? Let 's not forget the additonal $34000.00 that I w... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 13, 2016 - I would like Wells Fargo to explain my ALLEGED request for information concerning my intent to purchase an annuity as part of my Reverse Mortgage Transaction. The Truth in Lending Act requires that we ( the lender ) provide Total Annual Loan Cost Rate disclosures in reverse mortgage transactions. These disclosures include a " good faith projection '' of the total cost of credit, reflecting all costs and charges to me, including the costs of any annuity I purchase as part of the loan transaction. The old Reverse Mortgage Products Scam certainly was part of the overall FRAUD perpetrated by Wel... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 12, 2016 - I will be addressing Fraudulent Note - and Fraudulent Note - Federal Truth-In-Lending Disclosure Statement Tax/Insurance Payment Notice - Addendum-No. - to uniform Fraudulent Residential loan application The Borrower 's Certificate The Lender 's Certificate - - - Wells Fargo Authorization to disburse the net proceeds from the re-finance of the premises according to the fraudulent ( - ) Title Insurance for Title No : - Notice of Owner 's Title Insurance The Lump Sum Disbursement Certification ( For Borrowers requesting at least 25 % of the Net Principle Limit as an IN... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 12, 2016 - I would like to clarify the federal government disclosure that reads At the bottom of page - it states " - fully understand that it is a federal crime punishable by fine or imprisonment, or both, to unknowingly make any false statements concerning any of the above FACTS as applicable under the provisions of title -, United States -, - -, et seq. '' Below the federal crime warning is a box for the - 's signature. " - fully understand that it is a federal crime punishable by fine or imprisonment, or both to KNOWINGLY MAKE ANY FALSE STATEMENTS CONCERNING ANY OF THE ABOVE... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 12, 2016 - I would like to begin on page - of Fannie Mae ( FHA ) application Case No. - - - - - - - - is listed as $0.00 As I have previously noted, most loans and/or non real estate debts are huge factors that bring your credit score down and prove to the lender that you are " not creditworthy. '' In the case of a reverse mortgage, the lender wants to see the reverse of a creditworthy applicant to gauge the borrowers inability to maintain the property, pay homeowner 's insurance, and PAY THE PROPERTY TA-ES. Wells Fargo ran my credit to ensure that I was a great risk of NOT h... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 11, 2016 - On page 3 of 7 ( - ) Fraudulent application Were you required to bring money to the closing? If yes, did you borrow the money? Both boxes clearly indicate that the lender has checked off the NO box. The entire application is fraudulent. Reverse Mortgages must be applied to homes with significant equity. So, as - statement that the loan was used to pay off existing mortgages is questionable. The home was appraised for $300000.00. Plaese refer to the Wells Fargo financial statements found in the attachment provided to the CFPB in response to my prior accusations. Page 4 VII. Acknowl... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 11, 2016 - Fraudulent FHA application indicating that I did not bring any money to the closing and if I did, was it borrowed? Note : FHA insures reverse mortgages for one-to-four family units under the various provisons of section 255 of the National Housing Act ( Title 12, United States Code, Section 1715z-20 et.seq ).... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 7, 2016 - I would like to issue a complaint that Wells Fargo violated several acts of Mortgage Fraud and Predatory Lending. Should I seek legal counseling, he/she will contact the appropriate parties. The term " mortgage fraud '' is typically used to describe fraudulent practices by borrowers in order to secure loans they can not afford to repay or to secure loans that exceed the value of the home or homes in question. Because they do not involve defrauding the government, these cases have nothing to do with the False Claims Act. However, fraudulent lending in cases where mortgages are guaranteed or i... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure December 5, 2016 - I have several falsified documents that will corroborate each of my claims. The documents will demonstrate Predatory Lending and Mortgage Fraud. Wells Fargo should also be ashamed by replacing my point of contact from - - to somebody by the name of - - who 's job it was to scare me half to death. He misrepresented his job title and called from an " unknown number. '' He told my son that I better just sell my home. It 's basically another example of deplorable behavior on the part of Wells Fargo. I ca n't understand how a bank can treat the elderly with such disrespect and abuse. I ... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 2, 2016 - I am disputing - - explanation of the benefits of a Reverse Mortgage. She states that the loan served to pay off previous mortgages. The - document - is designed to be completed by the applicant with the LENDER 'S assistance. According to the document, the Mortgage Applied for was an FHA Traditional HECM. The FHA case -. - - states the loan payment plan as a " LINE OF CREDIT. '' The lender case -. - indicates that the purpose of the loan was for " ADDITIONAL INCOME. '' - - should be made aware that bringing $35000.00 asserts the opposite of any associated ben... |
Wells Fargo & Company Mortgage application, originator, mortgage broker December 2, 2016 - 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 4.9... |
Wells Fargo & Company Mortgage application, originator, mortgage broker November 29, 2016 - I would like Wells Fargo to disclose the following information as per the Truth in Lending Act. Wells Fargo continues to defy all the consumer protection laws. Although quite lengthy, I would like an explanation according to ( See Attachment ) AARMR/CSBS REVERSE MORTGAGE E-AMINATION GUIDELINES ( RMEGs ) FINAL - INTRODUCTION AND PURPOSE OF REVERSE MORTGAGE E-AMINATION GUIDELINES I would also like a detailed explanation of the variable TALC rate from loan origination through 2016. What is the TALC? And Why Should I Care? When you apply for a reverse mortgage, among all the pages of disclo... |
Wells Fargo & Company Mortgage settlement process and costs November 16, 2016 - Disputing the multitude of lies from Wells Fargo.... |
Wells Fargo & Company Mortgage settlement process and costs November 15, 2016 - My - yr old mother, who lived in a gated community in - was convinced to sign a reverse mortgage agreement with Wells Fargo Bank, in -/-/-. She had to be moved to assisted living late -/-/- & her house had to be sold, which it was, 7 year / 3 months later ( -/-/- ). She received $250.00 a month thru that time. That means that she received from Wells Fargo Reverse Mtg. $ - At the Closing, Wells Fargo Took $62000.00, Leaving my mother with next to nothing, on a house that was PAID OFF, previous to starting the reverse Mtg. That 's nearly triple payback of what they pa... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account November 13, 2016 - Please disregard attached file named doc - and submitted as part of case number - and replace with this recent submission. I am disputing the results of Wells Fargo 's investigation.... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account November 12, 2016 - I am disputing the results of Wells Fargo 's investigation into my claims of Predatory Lending and Mortgage Fraud... |
Wells Fargo & Company Mortgage application, originator, mortgage broker November 10, 2016 - I am disputing the results of the Wells Fargo internal investigation pertaining to my claims of Mortgage Fraud and several other illegal tactics used by - -. It is yet another example of following the same pattern of fraud and deceptive lending practices in which Wells Fargo has claimed no longer exist.... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account October 28, 2016 - I took out a reverse mortgage in - and everything was going well until I was unable to pay my property taxes. Wells Fargo paid my - property taxes in the amount of $710.00 ( I rounded the amount to the nearest dollar ). I received a letter two months ago stating I have 180 days to pay back the money or they are going to foreclose and put me out of my home. I am - and in a lot of debt because my bills are greater than my income. I ad -. I am widowed since -. Please tell me what can I do to keep my home I have lived in since -. Just please help me keep my home! Thank you. -... |
Wells Fargo & Company Mortgage settlement process and costs October 18, 2016 - As the executor of an estate, my complaint concerns the actions taken by Wells Fargo in connection with my efforts to pay-off a reverse mortgage that was held on the decedent 's property. Seeing there was a significant gap between what was owed on the mortgage and the appraised value of the property. I believe that it was their intent to harass me with as many road blocks as possible so that I would decide to just walk away from the property by signing it over to the bank. There is just no logical way to explain their actions throughout this whole proceeding. Within three days of the owner '... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure October 10, 2016 - I have given permission to my son, - - to handle all of my financial affairs which is noted and accepted by Wells Fargo. Obviously I have been taken advantage of at least once already. I am an elderly woman who comes from a generation where we were taught to trust our banks. Obviously I made a huge mistake trusting Wells Fargo and - -. As I have previously stated, the most important part of deciding on an HECM loan is understanding the complexity of said loan. Most seniors and adults of any age have a very difficult time understanding Reverse Mortgages. Most HECM loans require inte... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account October 7, 2016 - Wells Fargo has not complied with any of my legal requests for debt validation, recordings, copies of the note to prove who owns the property. Where the property was recorded. Discharges from the - and - proving they used the - they scammed me for was really used for said purpose. They responded to the CFPB that the - was used to payoff existing mortgages. They sent you a copy of what they filed with the Title company to steal the -. They love scamming the elderly. Again, I live on social security and have recently retired because the - I worked for have retired. I 've been a... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account October 6, 2016 - Please be advised that Wells Fargo has refused to turn over any " Debt Validation '' Documents. One of their executives claims " the request is too broad ''. Semms simple enough to me. It 's a standard debt validation asking what or how much do I owe and why I owe said amount. Keep in mind, this is a Wells Fargo area of expertise producing phony " TADA '' or ROBO-SIGNED documents that do not and have not ever existed.... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account October 6, 2016 - Wells Fargo has claimed the the - was used to pay off existing loans on the property. From what I was told, if that were the case, what did I pay in upwards of - to - for? Wells Fargo has - variations of the principle origination charges. That figure would have to factor into the HECM formula or the salesman would have to inform me that the HECM does not work for me and to find another option. As I previously stated, at the time of the HECM, I was in no danger of foreclosure. In fact, I had never even been late on a mortgage payment. Did I suddenly forget how to pay mortgages or fe... |
Wells Fargo & Company Mortgage settlement process and costs September 26, 2016 - I have provide documents and links explaining the Wells Fargo Foreclosure Fraud Scam along with their latest criminal scam in which they robbed, stole, and created - accounts. If you would like copies of the entire packet of paperwork from the 2010 closing, I will send them via - mail. Otherwise, you can just continue to believe every " TADA '' document sent via Wells Fraudo... |
Wells Fargo & Company Mortgage application, originator, mortgage broker September 26, 2016 - I was scammed by a predatory HECM loan executed by Wells Fargo on -/-/2010. I do not feel comfortable attaching the good faith documents or any other documents relating to the fraudulent predatory loan. I do not trust this agency or any other based on your complete favoritism shown toward Wells Fargo. Also, you say that you 've tried to contact me several times? How difficult is it to call - and either speak to me or leave a message? Or even better, how about e-mail --. Your investigation was completely one sided. Same as the job you 're doing with the latest of the Wells Fargo ... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure September 16, 2016 - In 2009, my father was solicited to apply for a reverse mortgage. He was - years old at the time. According to a Wells Fargo reverse mortgage bank statement we have, he was approved for a reverse mortgage loan in the amount of $120000.00. My father has since passed away and Wells Fargo is now trying to foreclose on his house. As the executor of his estate, I have spent the last few months requesting Wells Fargo to provide information that my father did in fact receive the proceeds of the loan ( e.g., evidence of wire transfer or a copy of cashed check, etc. ). To date, Wells Fargo has not... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure September 9, 2016 - My parents have a reverse mortgage with Wells Fargo. My father has past and my mother is now in an assisted living facility. We have worked to return the home to Wells Fargo through the Deed and Lue process and now through foreclosure. It is my belief Wells Fargo has completed numerous acts to delay this process so they can continue to collect interest on the loan which would affect the Federally insured loan. This process has gone on for almost 2years.... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account July 25, 2016 - My mother died approximately - year on - -, 2015. I resided in the residence with her for many years. My mother decided to take a reverse mortgage with Wells Fargo Bank. I have tried to work with wells Fargo and my estate attorney to get me appointed as the personal representative. I feel that wells fargo has been unfair and deceptive in dealing with myself and my mother during her life. My mother has NOT been vacated from more than - year. Therefore the bank can not legal foreclosure and are in violation of the FDCPA.... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure June 26, 2016 - My mother passed away in - 2015. Wells Fargo immediately contacted me regarding mortgage and what were my intentions regarding her estate. I told them I would like to sell the property. I had to go through probate. While going through probate I got a purchaser for a regular sale. All information I forwarded to WF. I could only talk to what they referred to as 'Reverse Mortgage Specialist '. I started receiving foreclosure notifications. Was told by the specialist to ignore them that I had to just keep the specialist informed of my intentions. They would ask for me to resend information that... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure May 31, 2016 - My parents ( both deceased now ) had a reverse mortgage on their home through Wells Fargo Home Mortgage ( WFHM ) .My mother passed away -/-/- and my father remained in the home until -/-/-, when he was hospitalized. After a month long stay in a rehabilitation center, my brother and I arranged for him to be moved to an assisted living facility. When it became clear that he would be unable to return to his home, my dad asked me to initiate the process of giving the house back to WFHM by means of deed in lieu of foreclosure, as the house was worth what was owed on it. I called -/-/-... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure May 25, 2016 - I submitted a complaint which was decided in my favor. In that complaint, I requested that Wells Fargo Mortgage not require payment of deferred property tax. Wells Fargo has notified me that they will foreclose on my home if the taxes are not paid by -/-/2016. I called CFPB and requested a copy of previous complaint be email to me. Though the email was sent twice no complaint number was on it. ... |
Wells Fargo & Company Mortgage settlement process and costs May 9, 2016 - My parents had a reverse mortgage with Wells Fargo Bank, father passed away - -, -. I notified Wells Fargo Reverse Mortgage that I intended to purchase the property. They have put me off many, many times by withholding necessary information for me to save the property. When I could n't find my parents ' will, a Reverse Mortgage Home Preservation Specialist told me to fax my birth certificate, which I found out too late by others in the department, had no bearing in any way. They changed Home Preservation Specialists many times, transferred me into voice mailboxes that were full, was ... |
Wells Fargo & Company Mortgage application, originator, mortgage broker May 2, 2016 - In 2005, - - received an advertisement from Wells Fargo Bank offering her a chance to participate in a " Special Government Program '' which allowed her tax-free money, " plus you wo n't have to make a payment for as long as you live in an own your home ''. She was left with misimpressions about the product. She was confused about the reverse mortgage being a loan, left with a false impression that it was a government benefit that would allow her to stay in her home for the rest of her life. The ad was incomplete/and or contained inaccurate information. ... |
Wells Fargo & Company Mortgage settlement process and costs April 7, 2016 - My problem is with Wells Fargo reverse mortgage department. I was appointed the personal representative for my mothers estate and have been attempting to resolve the reverse mortgage with Wells Fargo for close to a year. I have followed all the guidelines set forth by Wells Fargo and they continue to stall, request documents many times over, tell me they have everything they need and then a week later ask for something new. The requests come - at a time. I do n't think they know what they are doing. I need some help. Thank you ... |
Wells Fargo & Company Mortgage loan servicing, payments, escrow account March 31, 2016 - I applied for a reverse mortgage and was not understanding any of the procedures and most facts. I simply did not understand the ramifications or mortgage satisfactions. I needed to get rid of my mortgage payment as I was unable to make ends meet. I am aware of paying off my home mortgage for $27000.00 which I believed was the mortgage I had. None of my - mortgage satisfaction statements are in this amount. I also have satisfaction of mortgage statements for $30000.00 filed as document loan # - - dated - and recorded - and notarized in Montana on -. There is certificate o... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure March 30, 2016 - On - -, - Wells Fargo Bank , N.A . foreclosed on a home based on a - reverse mortgage, and the borrower being deceased as of -. However, the home was placed in a living trust as of -, and the mortgagee did not have authority to remove the home from the trust. On - -, - the beneficiary of the trust contacted Wells Fargo to inform them that the home was placed in an irrevocable trust in -, and Wells Fargo responded that the loan did not originate under a Trust Agreement. Well Fargo is intentionally disregarding the creation and continued existence of the - trust ... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure March 3, 2016 - I am have the power of attorney on my mom 's finances and due to her health issues she has fallen behind in her property taxes. We have been working with her reverse mortgage company Wells Fargo. In - of last year they paid the delinquent taxes and contacted me. my first contact with them was fine. They said to pay back what you can to reduce the amount. We began paying them and the following -, I was contacted by a new agent there who said that they could put my mother on a payment plan but needed to know her budget and expenses. She was to contact me the following day so I tried to con... |
Wells Fargo & Company Mortgage loan modification,collection,foreclosure February 18, 2016 - My wife and I are both - years old. Since beginning to investigate our reverse mortgage options -/-/- I have never gotten a return call from the Wells Fargo Reverse Mortgage representative I had either spoken to or left a voice mail with. Further, I have never been able to get an email in order to communicate with the same person and have always gotten a slightly different 'story ' on almost every question asked from each Wells Fargo Reverse Mortgage representative I have ever actually spoken with. Every call to an extension given has always gone to voice mail complete with a 'promis... |