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Wells Fargo Mortgage - trouble with mortgage
Posted on Friday, February 6th, 2004 at 12:00am CST by 38901c52
Wells Fargo Mortgage - trouble with mortgage
Wells fargo Mortgage Fraud
Mortgage Fraud With No Consumer Protections In Place
This is our story of corporate fraud, violations of consumer rights, violations of current federal HUD/RESPA laws, misrepresentation of facts, lack of corporate responsibility, lack of proper response to issues.
Our story more easily started out for you in chronological terms:
June 27th 2003, the day my wife & I closed our mortgage loan with Instafi.com (1st payment due on July 1st 2003)
June 30th 2003, we receive our closing statements for the new loan.
July 5th 2003, we send out 2 mortgage payments (July & August) with check #2604 to Instafi.com (as per our loan docs).
July 19th 2003, check #2604 (July & August payments) is cashed by Instafi.com.
July 30th, we send out September mortgage payment with check #2617 to Instafi.com. (as per our loan docs).
September 19th 2003, check #2617 is cashed by Instafi.com with endorsement on back of check to Wells Fargo.
September 22nd 2003, we receive a billing statement from Wells Fargo Home Mortgage. This statement includes an overdue payment and current monthly charge for a mortgage payment (? - who is Wells Fargo).
- My wife and I are puzzled as to who Wells Fargo Home Mortgage is and why would we owe them money.
- We call Wells Fargo and are informed that our loan was transferred sometime in June 2003 and that the overdue payment is for our September 2003 payment.
- We explain that we never received a notice of transfer and that we sent our September payment to Instafi.com.
October 1st 2003, we speak with Tiffany Paine & Jason of Wells Fargo requesting regarding our loan status.
We are asked to fax over copies of all cashed checks for all mortgage payments we have made to date. We fax copies of cashed checks # 2604 & #2617.
October 2nd 2003, we send out October mortgage payment with check #2642 to Wells Fargo.
October 7th 2003, check #2642 is cashed by Wells Fargo.
October 9th 2003, we receive a billing statement from Wells Fargo which includes a current monthly payment due and an overdue payment listed.
October 27th 2003, we send out November mortgage payment with check #2660 to Wells Fargo.
October 28th 2003, we fax Wells Fargo (to: Deanna) copies of all cashed checks for our mortgage payments.
November 1st 2003, we receive a billing statement from Wells Fargo which includes a current monthly payment due, no overdue payments listed.
November 21st 2003, we receive a billing statement from Wells Fargo which includes a current monthly payment due,an overdue payment and an unpaid late charge.
December 1st 2003, we send out December mortgage payment with check #2676 to Wells Fargo.
December 10th 2003, we receive a billing statement from Wells Fargo which includes a current monthly payment due,an overdue payment and an unpaid late charge.
January 6th 2003, we send out January mortgage payment with check #2687 to Wells Fargo.
January 8th 2003, I speak with Dean Doherty of Wells Fargo and explain that we have made all of our payments. I inform him that we never received our notification of the loan service transfer and that we still have not legally been notified of this transfer.
We ask him how anyone is supposed to know that their loan has been transferred without a notice being given.
He tells us that this is not Wells Fargo's problem ... notification or not. He us to fax copies of all cashed checks.
January 9th 2003, we fax Wells Fargo copies of all cashed checks .... again.
January 10th 2004, as requested in September - we received our 'welcome letter' & 'notice of loan service transfer'.
The notice states that our loan was transferred effective June 18th 2003 (10 prior to the closing of our loan).
January 14th 2004, we receive we receive a billing statement from Wells Fargo which includes a current monthly payment due,
2 months of overdue payments and an unpaid late charge. Within the billing statement is a notice of acceleration on our mortgage note, possible actions of foreclosure - if we do not pay for the months we have already paid for.
January 23rd 2004, Dean Doherty calls Dinah on her cell phone to notify us that they have investigated all of the issues.
He states that their conclusion is that we owe for all payments since June 18th 2004 (no credit for check #2617 that was endorsed to Wells Fargo from Instafi.com). We become very suspicious of all actions taken.
January 26th 2004, we send Wells Fargo a 'Qualified Written Response' letter according to the federal rules under Section 6 of RESPA.
January 28th 2004, We send a revised 'Qualified Written Response' letter to Wells Fargo.
February 2nd 2004, I call Wells Fargo to ask about the discrepancies we noticed between the transfer date of June 18th and the closing date of June 27th. We do not receive any complete answers. Responses from Wells Fargo representative:
we will look into that' and 'we have record of your loan closing on May 20th'. I tell them our loan papers show us closing escrow on June 27th (with a check to prove it), we are told that they 'will look into it'.
Sorry for having to make this story so long, but that's how this whole loan transfer has been handled by Wells Fargo.
We cannot get over the fact that there is no government oversight in place to react to the illegal practices of lenders in this country.
Lenders are simply given laws and rules to operate within, yet once they break them ..... nothing happens, very strange set-up.
I looked into Wells Fargo and found hundreds (if not thousands) of consumers being manipulated by this company, with no real consumer protection. I found that the states of California, Minn. and Arizona have been trying to rid themselves of Wells Fargo, to no avail. I also found ACORN to be a good resource for looking into the predatory actions of this company.
All we want to do is make our mortgage payments, run our business (14 years in business), go to work (Dinah has second job), raise our child and take care of my elderly parents (who now live with us) without any more abuses from companies like this.
They have wrecked our good credit (which affects my company's and it's employee's future) and say they are ready to try and take my house. Where is this country heading? What happened to "a country for the people, by the people"? When was this country's government bought out and for how much? Please help the people of this country!!!!
Robert & Dinah N
Grover Beach, Ca. 93433
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