Wells Fargo Mortgage - trouble with mortgage

Posted on Friday, February 6th, 2004 at 12:00am CST by 38901c52

Company: Wells Fargo Mortgage - trouble with mortgage

Category: Other

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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5 Comments

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8271cc03, 2009-06-18, 11:16AM CDT

I can totally relate here! We, my wife and I, also have had a quite similar experience dealing with this bank and lost all due to it! That bank, those people should be in front of a judge and jailed!!

How about a class action law suit to finally close those people down forever????? Those people put me out of business, loss of home, loss of job, loss of health.. and it would seem no recourse having filed complaints with teh various governing agencies.... to no avail yet!

I'll join such an action of a law suit, have records, recordings etc....

Bill G

8cf0a6f0, 2009-07-29, 01:10PM CDT

I've been waiting for a loan modification response since April. I'v called them over and over again to find out the status of my application.

I get a different rep each time I call.All of them are redundant,asking me for the same information that I gave them initially.It is frustrating and thier manager is no help either.I am convince that they don't want to help their customers and they just want to frustrate you until you give up trying.I've asked for a transcript of the conversations and they won't provide one. It is now August and still no response.The only letter I recieved from them was that my home is on a short-sell list.I've wasnt even notify about this,and in my harship letter I indicated that I want to keep my house.

Who can I call to complaint.

7eb4092b, 2010-04-06, 09:52PM CDT

My wife and I are in the same boat with Wells Fargo. They took the house and in court said no more financial charges were going to be filed due to the circumstances. I should have known better, they lie, misrepresent facts, and just have no over site. I have court documents proving what I said and they said. Yet, they charge us another 7-8 Thousand dollars for things after the fact. I am going to my state attorney general. And see what they can do.

It looks like someone is getting a big Christmas bonus...

09632bf2, 2010-04-21, 04:14PM CDT

My Good Buddy, The Loan Officer

No wonder Nevada turned out to be the state with the highest mortgage fraud and now foreclosures.

Were $100,000 upside down, underwater which means we owe $100,000 more than the property is worth. If the Nevada Mortgage Lending Division Scott Bice, Sheila Walther, the police, Dick Gammick, the FBI, or Glen Lovedahl had done their job, Nevada wouldnt have tragically ended up number one in mortgage fraud and now foreclosures and the rest of us find ourselves now underwater on our loans - owing more than the property is worth.

When I bought my first home a few years ago I went to my good buddy Sam Britt, a then Wells Fargo Alternative Credit Specialist. Translation, sub-prime. My good buddy Sam Britt hated my wifes credit, said Id have to do the loan without her, which means she wouldnt be on title, and the interest was only fixed for the first two years, and its rate was almost twice what Id heard, but hey no problem, well be refinancing just before that. Do the same thing then that were doing now; roll all the loan costs into the loan. No problem.

The first problem, besides second problem, the too large payment, third problem, the only two-year guarantee, and fourth problem, with really no guarantee to be able to refinance in those two years, the first and foremost problem is my wife just didnt get why shes not going to be on the title.

Id heard from others about the governments loan, a VA and Im one. I asked my good buddy Sam Britt. He referred me to a VA Specialist but first told me not to let them know I am married. Does that mean shes not on title I asked. Yeah, said my good buddy Sam Britt, but no problem. Well add her after we close. Escrowll do it for us.

I met with this VA Specialist. She had me at a 30 year fixed VA loan. The interest was around what I thought it to be. I had some closing cash out of pocket, but no problem. The wife and I go shopping for a house. We make an over asking price offer upon the recommendation of our real estate agent and found our offer accepted.

I got all the way to the signing at the escrow office. Im married. They want my wifes signature. My wife is excited that someone is admitting our marriage. My VA loan officer was surprised to found out Im married and that my good buddy Sam Britt had told us to lie that we were not married for this VA loan as my good buddy Sam Britt felt my wifes credit would have killed the VA loan. The VA specialist was able to salvage the VA loan as it turned out the wife credit had issues that the VA loan officer was able to get resolved. She was pissed because she hadnt been told earlier. She was also worried about mortgage fraud so she brought the Sales Manager to talk with us about what my good buddy Sam Britt had done to us. The Sales Manager said he didnt want that kind of slimy business dealing here and referred us to a Karen Benson at Wells Fargo, fax # 612/312-7205. My good buddy Sam Britt later went to Countrywide Home Loans.

If my good buddyll do that to me, think what all those others did. My good buddy loan officer, mortgage consultant, alternative credit specialist Sam Britt first tried to get us into one of those toxic sub-prime loans. Turned out the reason was he gets more money for those loans. Lots more money.

Then only upon our pressure did he pass us on to an VA specialist. I found out VA loans were far less profitable to the bank and loan officer than the toxic sub-prime loans. Unfortunately, we really hadnt yet figured out that our good buddy Sam Britt was not such a good buddy when it came to money. Having us lie we found out is mortgage fraud. And its all in writing so were tripping were so freaked out. Mortgage fraud! Felony! Million dollar fines! This Karen Benson at Wells Fargo, fax # 612/312-7205, told us our good buddy Sam Britts story was he never did or said any such thing. And that we had obviously lied on our own initiative to the Wells Fargo VA specialist. Yeah right. The police never followed up on our financial fraud report. Scott Bice and Sheila Walther at the Nevada Mortgage Lending Division didnt care either. Sheila Walther told me she saw no problem upon the coaching of our loan officer with lying on the loan application about leaving off my wife who is a stay-at-home mom. Thats the job of the loan officer to get us a loan, Sheila Walther said. Your wife has no income so not relevant to the loan Scott Bice told us. Thats the same thing that Glen Lovedahl with the Reno FBI told us. We told Scott Bice, Sheila Walther and Glen Lovedahl that the VA specialist and the Wells Fargo Sales Manger had both told me it was clearly mortgage fraud, Federal felony, fines as we lied on a Federally insured home loan. I, we, wouldnt have known to lie, or how to lie, if my good buddy Sam Britt hadnt coached me to and how.

Wells Fargo, Countrywide, all those lenders do not rock. Neither does the Nevada Mortgage Lending Division Scott Bice, Sheila Walther, the police, Dick Gammick, the FBI, or Glen Lovedahl. No wonder Nevada turned out to be the state with the highest mortgage fraud and now foreclosures. If the Nevada Mortgage Lending Division Scott Bice, Sheila Walther, the police, Dick Gammick, the FBI, or Glen Lovedahl had done their job, Nevada wouldnt have tragically ended up number one in mortgage fraud and now foreclosures and the rest of us find ourselves now underwater on our loans - owing more than the property is worth. In our case, were $100,000 upside down.

How can so many people and departments not do their job? All these people were and are paid with taxpayer dollars. I see that no as different than what U.S. Senator John Ensign, R, NV, did with his misuse of taxpayer dollars when he paid off his staffer-mistress and her husband, also on his staff. Not doing a publicly funded job is also misuse of taxpayer dollars. I am a taxpayer. I demand accountability from Nevada Mortgage Lending Division Scott Bice, Sheila Walther, the police, Dick Gammick, the FBI, and Glen Lovedahl. I want all of them to be forced to give back all their salaries for not doing the job they were hired and trained to do with taxpayer dollars. God knows we are paying the price for their failures.

Anonymous, 2011-03-06, 03:22PM CST

It is ridicules that good law abiding citizens of this Great Country (U.S.A) are getting ripped of time mand time again for paying their bills on time according to all of the statutes laws!

On the other hand the banks are getting away with fraudulent activities on daily bases?! The Problem is and will remain there, until the Federal Government becomes more humane towards us the people and start to protect our rights and as well our responsibilities in an honest manner then rather protecting the lobbies which should be eradicated from the congress floor and made Illegal in this country forever.The Government is supplying the banks with redemption moneys for their mistakes which the (banks) committed back in 2006 with the offering of the so called Balloons loans! Now the consumer can`t pay them and are forced to either foreclose or short sale their homes. The Banks are making more money this way and are not approving today`s buyers because, they are getting kick backs from the Federal Government for their stance (God Bless America). I believe that if these Banks would have the decency to admit their shady practices when they lend money to [people with not proper documentation] when they applied for these type of mortgages,then rather take the money from the federal government the rather should be fully accountable for their mistakes and try to handle the situation with their own money then getting it from the federal government.I believe that if this would be the case they would dare to play with peoples lively hoods?! I think all of the people either bank officials and some government officials should be able to be prosecuted to the fullest extent of the law?

Art

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