Wells Fargo review: loss mitigation department 87

There are people that are losing their homes that are by no means "living beyond their means". There have been jobs lost to people that have house payments that are cheaper than any house that they could rent. The economy has gone sour because some of these mortgage and loan companies have mishandled THEIR business, and OUR money[or so they call it] has bailed them out. So, living beyong their means is sometimes a load of crap!

Can I join the club? The club of those who have attended to loan modification review for more than a year while asked to be patient and still receive a trustee sale date. The club of those who were told they had to default on their loan in order to even be considered for a loan mod. The club of those who then tried a short sale. The club of those who were asked by the lender to cancel the loan mod in order to proceed with the short sale. The club of those who were requested to submit volumes of their personal and financial lives on paper for the start and duration of the review process. The club of those who dealt with negotiator after negotiator after newly assigned negotiator. The club of those who did everything one could possibly do to avoid foreclosure. The club of those who received a call half way through the short sale escrow and told that your property had been sold in auction the night before. The club of those who don't know WHAT THE FUCLOSURE is going on.

We submitted for a loan mod under HAMP with Wells Fargo in April of 2009; it took until September 2009 to get the ball rolling with the trial payments (approx. $800 less than our regular payment of $2, 800). Last week, after making 5 trial payments, WF came back with the dreaded forbearance offer (skip two payments to get "caught up" on other bills, then pay over $12, 000 to catch up with the mortgage and go back to regular payments and possibly re-apply for a mod). I asked the loss-mitigation rep to go through my financial info again and we made some corrections/additions (we had since qualified for food stamps, and I had not been including my wife's meager income)...today the same rep called back and said we had not qualified for HAMP, but we could do a modification under WF terms: loan term stays where it is (3 years into a 30-fixed at 6.375%), but the interest would be reduced to 3.375% for 5 years, 4.375% for the sixth year, and fixed at 5.125% for remaining term of the loan. Our monthly payment ends up being $600 less per month (at least for the first five years; I have to look at the paperwork to see how the interest rate bumps are amortized out). Granted, we were hoping for the mod to be closer to our trial payments, but I'm still thrilled to get the deal we have.

The process was not enjoyable in any way and has caused a great many sleepless nights, but there is finally some light at the end of the tunnel. I appreciate that WF is willing to give up several thousands of dollars in interest to allow us a fighting chance to keep our house...we absolutely love our neighbors and neighborhood, and the house has been in my family since 1919.

While I agree with the level of frustration represented here, I was glad to read the comments by lossmitemployee and LaLa19. All of the representatives I have dealt with have been kind and helpful, even if the information wasn't always what I wanted to hear. On my end, I have done my utmost to be polite and helpful, and felt that my attitude was rewarded in kind.

Good luck to everyone that is in the process, and don't hesitate to call a financial consultant. There are several listed by state at the link below. I had a reassuring phone conversation with a person at Clearpoint Financial Solutions at one point in the process, and will most likely have that same person look over the loan-mod paperwork from Wells Fargo before signing.

Quoted from the HUD site linked below: "Foreclosure prevention counseling services are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies are funded, in part, by HUD and NeighborWorks® America. There is no need to pay a private company for these services."

http://www.hud.gov/offices/hsg/sfh/hcc/fc/

I am having the same dilemma with Wells Fargo as all of you, specifically IHATEWELLS. The issues are so identical that it's almost SCARY. What Wells Fargo is doing to its customers is down right criminal and fraudulent. They are no different than folks who actually rob banks. Only difference is that instead of hiding behind a mask, they hide behind their little cubicles with their phone mics and play dumb!

Frustrated@wellsfargo: I'm sorry you're having a rough time with WF...I understand your level of frustration, but realistically they have no obligation to provide any assistence at all.

The modification that we have agreed to will save us $600 per month for the first five years, drop our interest rate by well over 1.25%, and save us over $113, 000 in interest over the next 27 years; no closing costs, no extension of the loan term. In essence we just won the lottery and chose to accept the annuity payments. Our financial situation still looks bleak, no doubt about it, but I can't complain one bit about the end result regarding our loan modification.

I urge everyone to be patient and friendly, and consult a financial counselor with any questions or concerns...Again, they are available free of charge and listed at http://www.hud.gov/offices/hsg/sfh/hcc/fc/ by state. The counselor I had look over our loan modification documents considered Wells Fargo to be one of the better firms at following through on mortgage modifications. Any amount of bureaucracy is painful to deal with, but in this case I feel it was worth the hassle.

Been sending them everything they need over and over again. They constantly claim they didnt get it. One day I faxed them everything 5 times in one day only to get a letter the following week saying they couldn't modify my loan because they were missing my documents, but there was no indication as to what was missing.

WF has already turned me over for foreclosure meanwhile Im still trying to get a loan modification. Never get to talk to the person who is trying to modify the loan. No one calls back either. Always have to talk to a different person. I have faxed my documents so many times my file is probably bigger than a phonebook by now.

Seems the right hand doesn't know what the left hand is doing.

I hope the government goes after these crooked ###.

i have started the trial period and was told that my principal and interest would be 1675.46 and the escrow payment would be 342.35 and when I talk to anyone there they say my escrow is only 235.00 a month and what prompted me to call is my statement only showed .02 cents towards escrow and the other two showed 235.32 towards escrow and I am told that it is 235.32 and they do not know why I am being charged the 342.32 and when I talk to a supervisor they say it does not say that although I have copies of the paperwork where it states this. They also will not give me a signed copy of the trial period agreement that I signed with there signature on it. And I have contacted freddie Mac and they have been nohelp either as well as writing congress and the president, no response but then again what do you expect from this administration.

I have been trying to close on a house now for almost 8 months and all I get is the run around from the attorney’s because the negotiator John Gladney at Wells Fargo will not return any correspondences. They are so inundated with files is because they do not answer a simple yes or no question. Do you or do you not except the offer. It is that simple. I would personally never do business with Wells Fargo and I hope people who read this blog reconsider any negations with the financial institution.

I agree. It appears they are all reading from the same script. I have been working on a loan modification since October 2008. I received a notice of foreclosure last month (Feb. 2010) WFHM tells me they are still working on the modification. I feel stupid that I have not documented names, dates and times of conversations. I have ask to and thought I was talking to supervisors but have been able to talk to a mediator. I think now that they are just stinging me along in order to be able to foreclose on my home. If anyone does find help please let me know. C. Griffin.
Goober_griffin@bellsouth.net.

i was an contracted employee for wells fargo loss mitigation. I hated that job with a passion when I first started i didnt relize how complicated it would be. most of us are not trained in the area of home mortages, property taxes, etc. The only thing we knew is what we learned in 2 week training and any other memos they put out for us. To be completely honest we do have supervisors and team leads but the only thing they are worried about is that us representatives get our 7.5 log hours and utilization. Log hours is the amount of time you spend in the system on the phone and utilization is a combination of log hours and notating the acct and getting to the next call as soon as possible. The higher the log hours and utilization the more money the company contracted through wells fargo and wells fargo itself will make. Some of us representatives really did care about the mortgagers and wanted to help them but we are not provided with the correct information or contacts to help them. We have always thought that is was crap the the we nor the mortgagers did not know the name of the negotiater who is handling their loan. I wish i never worked there and i am so sorry for all the hard working people who are getting the run around from wells fargo. Some may actually get helped, but most don't and may lose their home

to lossmit-

I just saw your reply email. And it frustrates me that WF would even ALLOW one of their phone reps to comment on a subject matter that is SO much bigger than you.

No one is attacking the lowly ones that just answer the phones.

The COMPLAINT is that there is no end in sight for many homeowners. Many of which that DO everything they are supposed to but still are getting bent over. (like us) and some that very much deserve a break because it's set up by Obama to help out the middle class who are struggling right now.

The issue is that many are not getting the benefits that the BIG banks already got. The hundreds of millions of dollars that the main street people have yet to see.

We are just getting STRUNG along and really it seems like the rules keep getting bent.

And unless if you are like me and are a squeeky wheel, you really won't have an outcome. Just a series of payments and no solution.

I would LOVE to have one of your VPs and Executive Board Members come on here and comment on what is REALLY happening. People are loosing their homes and there really is a very small amount of people having success with these programs that are supposed to help them.

WFHM is jerking us around. I have tried numerous times to see if documents have to be updated every 30 days and still there is NOTHING in writing with any of the rules, regulations, HAMP official laws, or anything that is not just loose language that can be bent depending on the situtation for the lender/homeowner.

Lala,
Thank you for having some sympathy.

All those that have written here,

WRITE EVERYTHING DOWN. Ask for all the supervisors, supervisors and COMPLAIN and get answers and ask questions and call a lot and even submit your complaint letters to the Office of the President like I did.

FYI - Wells Fargo Home Mortgage — loss mitigation department here's where I posted early September about how we were getting the run around. I wrote the Office of the President with my frustrations. I heard back from their office the same afternoon. After a week of going back and forth they finally figured out that THEY miscalculated our financial statements and that we "indeed qualify" to be on the HAMP program.

Fast forward to today. We started on the HAMP program. We made our 3 set payments on November 1 and December 1, 2009 and the last on on January 1, 2010. We then made an addition 4th payment on February 1 and called days later to check the status of our loan. We had read on various sites that they were finalizing loans pretty quickly after the trial period was over. Not the case. Again, they wanted more updated docs. I had JUST sent them in the week prior. Not good enough, they have to be in every 30 days. Pissed and frustrated I emailed the Office of the President. Got a reply that afternoon. They wanted even more financials and could give us an answer within 1 to 2 weeks.

WHAT?!? So the Office of the President has this magic answer as long as I give them the financials?

The problem I have is that they have all those docs.

So, I have to reply and let them know what they have already in their system and get them the latest paycheck stub and then pray that finally we might get a set solution.

And that's it.

Will update more to you all.

STAY STRONG!

Bridget

by the way.

educate yourselves.

read these!~

www.livinglies.wordpress.org
http://wfhmcaught.blogspot.com/

Seems were all getting this tun around...I smell a class action!

" egub " Do you know how too!
So far I know I can get them for phone harassment, but if enough people that could be a class action! It is only a thousand dollars either way that I would get...it"s not the thousand dollars it is the idea of what they W.F. is doing and getting away with it.

To ALL that are trying to get a Loan Modification with Wells Fargo,

Are you getting " Phone Harassment ", calls from Wells Fargo that you DON'T deserve!
I am not late nor delinquent, but since I applied for the loan modification last AUG. 2009, 4 TIMES A WEEK AND EVERY WEEK, WELLS FARGO calls and says they are calling collecting on a debt...are you in the same boat! It is $1, 000.00 ( one thousand dollar charge to them that " You " receive from W.F. OR ENOUGH PEOPLE that have a legit / true claim it can become a class action.

Read your RIGHTS 806. Harassment or abuse / The Fair Debt Collection Practices Act...site: www.ftc.gov
Also if you have a legit / true claim you can fill a on-line complaint, also if you have a legit / true claim you fill it with the ATTORNEY GENERAL of your state.
Please, make sure it follows under the guide lines at the site above, before you file your complaint, a copy is shown from them to Wells Fargo and " YOU " need the proof to back your claim against it.
-------------------------
More information, For Wells Fargo, if you have a complaint that follows under banking / lender practice, on line complaint site: www.helpwithmybank.gov
Again this complaint is shown to Wells Fargo .
On any home loan it is debt to ratio ( GROSS INCOME ) and to bills that are over 1 year..not to include food, utilities, gasoline, etc.
Go to the www. makinghomeaffordableprogram.com..their site has the questions as what should have been asked from " YOU ".
If you went through Wells Fargo they asked for food cost, utilities, gasoline..and then if yours is as " mine " they are only using my NET INCOME...Why! Is not the Making Home Affordable program the same, it was meant to be..twisted standards.

Also I can tell you Don't feel like you have lost your mind...We did not receive all your paper work...You need to update us every 30 days...We don't have all your paper work..But a machine that says " Hi, This Is Jessica with Wells Fargo and we are calling to collect on a debt, Call Wells Fargo right away, sure the heck remembers to call 4 times a week every week..why can't they lose that!
Well since I did both of the above complaints, the Jessica recording has " STOPPED " CALLING ME, BUT ALSO NOW THEY HAVE SAID I opted out of the LOAN MODICATION PROGRAM, BUT I DIDN'T.
Oh, I all most for got I now have special phone numbers to them, but guess what..they will act like they can't hear you and then hang-up, so no need for me to post them numbers for any one.

I WORK AT WFHM LOSS MIT I CAN TELL YOU THAT HALF OF YOU DON'T MEET REQUIREMENTS OR DO NOT UNDERSTAND THE PROCESS IF YOU REALLY EXPECT A HAND OUT GO TO THE SOUP KITCHEN THERE ARE OTHER WAYS WHEN YOU NEED TO MAKE SACRIFICES TO KEEP YOUR HOME YOU SHOULD BE LUCKY TO HAVE SOMEBODY TO OFFER TO EVEN TRY TO HELP YOU I WOULD LIKE ANY OF YOU PEOPLE TO COME TO MY PLACE OF EMPLOYMENT AND DO WHAT I DO EVERY DAY... YOU OBVIOUSLY DON'T KNOW ANYTHING AND HONESTLY IF YOU HAVE TO GO WITH OUT BUYING DESIGNER JEANS TO SAVE YOUR HOME DEAL WITH IT WE DON'T EVEN MAKE ENOUGH TO PUT UP WITH YOUR WINEY CRY BABY ### TO EVEN AFFORD HOMES OURSELVES-- A WHITE PERSON... ALSO MY OPINION DOES NOT REFLECT THOSE OF MY PARENT COMPANY OR AFFILIATES

I would like to politely state, that I am another representative who works for wells fargo home mortgages loss mitigation team. If you honestly don't think you are recieving help the way you think you should, then try to get ahold of the Wisconsin office. WE PRIDE our ability to help our customers with more knowledge and a positive attitude that most other sites don't seem to have in all of your opinions.

BUT

I would like to say, that if you want the HAMP program, do your research first, so that you know what you're getting into. ALL LOAN MOD TRIAL PROGRAMS WILL EFFECT YOUR CREDIT. They don't tell you this at the conventions for some reason because half of our processors sometimes seem like they know about as much as some of our loss mit reps. BUT your credit WILL go back up at the end when you receive your final modification. Everyone must complete a trial before receiving a final mod. Special Forebearances must be completed and kept in order to receive a trial modification.

Repayment plans are given out FIRST!

HAMP has to be paid on time, or the plan breaks. Also most people fail hamp even though their DTI (debt-to-income) ratio is over 31% because the LENDER (FAnnie mae, Freddie Mac, or any other lender who invests in your loan) THINKS THEY CAN MAKE MORE $$$$$ BY SELLING THE HOUSE OR DOING A SHORT SALE.

Please always continue to make monthly payments to stop yourself from going into foreclosure, don't be stupid and do nothing about it.

PLEASE SEND US YOUR UPDATED HARDSHIP LETTERS, FINANCIAL WORKSHEETS (Monthly expenses), AND UPDATED POI (Proof of income, which is usually the two MOST RECENT paystubs), EVER ###ING THIRTY DAYS. It's probably the most important information you could give us at this time because most of the calculations that we use to give you a modification are derived from your income and expenses.

Plus, if you have a surplus of money, your mod pymt will be higher, because having a surplus of money at the end of the month shows you CAN AFFORD your freaking mortgage payment and then some... SO WHAT THE ### are you doing that you can't make you're flipping payments on time, in full, or let alone make them? What are you buying? DOLCHE AND GABBANA? DEsigner jeans? Is WAL-MART not expensive enough for you? Start a ###ing garden and maybe then you ... oh wait, maybe's it's just because you're irresponsible or just too lazy., ... or mayb'e you're a freaking cheap ### person who wants to keep all their money to themselves and want to get the lowest rate affordable so that the people who REALLY REALLY ###ING NEED IT can't get it.

Also. Don't buy that ###ing million dollar home if you don't have the income to support, honestly, that's just plain stupid.

TRY READING AFLUENZA by John De Graff, David Wann, & Thomas H. Naylor. And then you might just figure out how stupid some of you people are trying to keep up with people who actually have the money to "keep up with the joneses"

Honestly though, if you don't need a modification, but want one, don't get one... Because you don't need it.

If you need a modification, but still think you can get by even though you are debt, GET ONE, because it's people like you that we are trying to help.

On the subject of customer service, we follow the motto: treat people like how you want to be treated, and you will receive said treatment. SO think twice about calling us and being a ###ing ### to us and making us depressed and feel like we aren't helping any of you WHEN WE ACTUALLY ###ING ARE...

God I could go on forever, ### I could write a flipping article about this crap, but I'm not going to because it's not worth the time complaining, and the same goes for all of you. Instead of COMPLAINING, do something to help yourself.

btw my opinions do not reflect that of my parent company of affiliates- upsetrep

Monday, April 07, 2010

Loss Mitigation Review Fax #– 866.359.7363

Please, please grant us a Loan Modification for loan #[protected]

“SUMMARY’’

We fell behind some time after my daughter passed away from cancer issues and son-in-law lost his job from grief and depression. He found himself displaced in the work force and at some point on meds and then disability. He and I both continue to look for work but at present to no avail. Allen currently receives
$1053.00 Disability and I receive $983.00 SS benefits. See Income attachments. We desperately need a Loan Modification of around $700.00. See financial statement. We both want to stay in the house, create a business, pay the house off and fix it up, bringing it up to code. Due to the current condition it’s in, an investor would take it far below what’s currently owed on it. Because of the love my daughter had for this property; there is a lot of sentimentality for us. We are just having a very rough time from loss of life and incomes. Please work with us.. We will make you proud of us.

Some History

This house was bought for around $135, 000 when it was a sellers market with the intention of fixing it up and making it into a home similar to the one she loved in York, PA. This house was built in 1980 and pretty much used as a rental house the entire time. I moved down here to be with my daughter after my job of 7 years at the Pose Office ended. We all had or found employment at the purchase of the house. I was making over $27, 000 a year at Real World Training; my daughter started a new job at Verizon Web Pages making $34, 000 a year, my son-in-law Allen was working at J.C. Penney Corporate Office in the IT-NOC center making $45, 000 a year. All that together gave us a household income of $104, 000 gross, which was plenty enough to buy and care for this fixer upper home.

Although a lot of projects were started, many of them came to a halt when my daughter discovered she had a very aggressive form of breast cancer. Me and my son-in-law stayed on the internet and on the phone trying to find treatments, clinical trials, with hopes of finding some way to cure or help my daughter manage her illness in order to buy more time till they could find something that would work for her type of cancer. Michelle opted for a lumpectomy to no avail, a mastectomy including lymph nodes to no avail, chemotherapy and radiation, more surgery, all of which did not work. The cancer became metastatic to the lower back and then started spreading throughout her entire skeleton. She had tumors on her shoulder, tumors on the side of her head and tumors growing around her jawbone. She was labeled terminal. Because of the pain she was rushed and admitted to Baylor, Susan G. Komen terminal wing where she was given morphine to make her comfortable.

There were some church friends Michelle came to know, along with myself and son-in-law that kept vigilance beside her. My daughter remained in good spirits and my son-in-law promised to continue working on the house so she would have a home to come back to as soon as she got well. He also continued to research options and he did find a chemo treatment using Methyltrexate. This type of chemo has been used for years for treatment/management of severe cases of arthritis, although we tried to get the oncologist to consider it as a management treatment to slow down the cancer, the oncologist would not do it because it wasn’t considered a cure all. So Allen found a treatment protocol on a web site called www.IPTQ.com it offered a lot of hope that we seemed to be running out of. After some fellowship with the church we spoke with her doctors involved, Michelle decided to go and the treatment was started in Atlanta, GA. Within 4 days most of the tumors were shrunk down, barely visible, I was the only one with Michelle. She didn’t want my son-in-law going along because he was too emotional concerning her welfare. Around the sixth or seventh day Michelle was overdosed, a couple of days after that my son-in-law arrived to find her very sick, 911 was called and Michelle was rushed to the ER where she was diagnosed with Septic Shock, no platelets, next to no blood count. Michelle’s face and parts of her body were orange. Her hands were white as snow, her mouth and gum area were covered in blood and she was very swollen. Test confirmed she had poor blood counts, no platelets with an over all state of septic shock. Michelle really needed more care then and there but this hospital was not setup for trauma patients such as Michelle. In fact they seem more concerned about the liability then giving Michelle what little bit of help she desperately needed with what little time she had left.

She passed away from septic shock and congestive heart failure. This was a very horrible experience for me as well as my son-in-law. He found it very hard to keep his current job or any jobs after that. He ended up losing his current job and found himself as a displaced worker with so many others. Between trying to find full time work and trying to work temporary jobs, as well as dealing with all the emotional grief, guilt over the sudden loss of my daughter. It just seemed like an uphill battle. He ended up on a lot of medicines where working for someone just became impossible because of the depression he still felt and or side effects from the medications. Allen has continued to look for work, continued to seek out help for ways to fix, restore or update the house in the love and memory of Michelle.

Some banking information:

At some point with the loss of income, we fell behind on payments. With continuous communications with Wells Fargo, they put us on forbearance with or with out payments. I am so grateful for the help they offered Allen and I. In the past, the only income in the house was mine, $983.00, some time later there was Food-Stamps of $315.00 until he could seek and try for disability He was awarded that after a few months.

And is now receiving 1053.00. After that we lost the food stamps however this income is permanent, no lay-offs or loss of income.

In closing, my son-in-law and I love this house and want to fix it up in memory of my daughter. It’s really hard for us to see living anywhere else. I realize it needs work that exceeds our current income, but my son-in-law has good days and bad days and although that makes it hard for him to work a steady job, he is able to complete a task at a slow pace.

If there is anything you can do to help us find a refinance, Loan Modification, etc., we would be very
grateful. Thank you Wells Fargo for all your help so far. Loan # [protected]

Sandra Vincent and Allen Wynn – 972.234.0019 – April 07 2010

Loan # [protected]

__________________________________________________________

INCOME AND EXPENSES

RE: Mortgage [protected] – Allen Wynn
1603 Woodoak Dr., Richardson, TX 75082
Friday, March 19, 2010

Household Income is as follows:

Allen S. Wynn – Social Security Disability - $1, 057.00

Sandra L. Vincent – Social Security - 983.00

Total Income $2, 040.00

Proof of Incomes Attached

Monthly Household Expenses and others is as follows:

Water, Sewer, Garbage, City of Richardson --------------------- $57.00
Electric (Average, varies due to season) -------------------------- 200.00
Gas (Average, varies due to season) ------------------------------- 200.00
Cable TV, Phone and Internet, Bundle Pkg.------------------------ 131.00
Lawn Maintenance ---------------------------------------------------------- 75.00
Storage -------------------------------------------------------------------------- 152.00

Total 815.00
Automobiles:

Insurance – Allen S. Wynn and Sandra Vincent
Both Cars ---------------------------------------------------- 133.00
Gas Both Cars ---------------------------------------------- 80.00

Food Expenses Average ------------------------------------------------- 275.00

Pet Expenses------------------------------------------------------------------ 75.00

Total 563.00

Total All Expenses ----- $1, 378.00

Income of: $2, 040.00

Expenses of : 1, 378.00

Balance Left $ 662.00

See above. If Wells Fargo is hiring idiots like the people above. We are all in a big, big pile of ###.
OMFG. (or as they would say OMGF!)

Hey stupid (yep you UPSETREP and UPSETREP) if there are two of you...people aren't just out buying $1M homes. People are STRUGGLING. Seriously Struggling. We did not set out for the set backs that we have had...over 2 years long of this. Usually, financial advisors tell you to plan on 6 months of lost income. We have had over 28 months of lost income. So, really, don't post here. No one cares.

We are real people. Middle class. Working our ### off. And you dare to post here and get on your soap box. Go back to college and get your degree!

You may be hired by WFHM and are repping them...but most people aren't looking for
hand outs. They are looking to stay afloat and KEEP their homes.

Nice type-o's by the way.

Have a great week. I hope it's a fun filled week of dealing with all of us! WOO-HOO!

Hey, " upsetrep ", You know you are the same person, yet trying to act like two different people. I don't know what happened to one of your post, but YOU put right in it that you DID NOT EVEN OWN A HOME, maybe YOU need to learn how to budget your money so you can get in to a home, DON'T TELL " ME " A RESONIBLE HOME OWNER SINCE AT THE AGE OF 20 WAS WHEN I BOUGHT MY FIRST HOME RATHER THEN RENTING AND THROWING " MY " HARD EARNED MONEY AWAY, YOU CREEP " UPSETREP ", YOU KNOW YOU ARE NOT OUT TO HELP ANY ONE WITH THE PROGRAM AND IT IS A FACT.

Wake up " upsetrep" I did NOT cause the economy to become what it is " YOU " lenders get 100% credit for that. If you lender's would have thought out your loose lending practice's and how it was lining your pocket books " Greed and Stupidity " is all you lenders were thinking ( If you can call it THINKING ). This economy went right down the toilet due to Lenders, people are now with out work, some working for way less wages...Construction workers are now with out work, so the tipping affects now hits " almost " every person's job out their...Yeah, use your brain.
Then you lenders get are tax dollars for bail outs to keep your messed up lenders in business..that's insane..You lenders messed up BIG TIME, yet YOU get a bail out..You lenders did this to the economy, and the government is now asking you to help out..but NO, when almost all the homes that you get back due to foreclosure, then what! Do you think you will have jobs any more..do you think as tax payers will stand by and let the government give " You " bail out money AGAIN..heck NO.
So start using your brains " NOW " and get your act together and start helping the people that NEED it A.S.A.P...Your making the economy even worse once again, only thing different this time maybe some of you will be with out jobs cause all you will have is a bunch of foreclosure that no one can buy, it will be another domino's effect.
Go tell the TOP money makers in your company " Ever home that gets foreclosed is bring down the amount of my home, I had equity, but not no more, keep it up..not much longer and you can add my home to your foreclosed list, what little money I had to keep on top is GONE, And I don't see how the Top money makers at lenders will have their jobs much longer with all foreclosed homes and NO ONE TO BUY THEM...THEN TALK TO ME ABOUT DESIGNER JEANS THAT YOU " UPSETREP " METIONED.

Here " upsetrep " just so you no I am far from stupid. Take this to your upper top paying manger's it might save there jobs. The interest rate that every one pays, just lines their pocket books and now is not the time to think about themselves too, so lets take 5.5 % interest rate and The government program says you lenders if you would can give us as low as 2.00 % interest rate,
at least you are still getting SOMETHING rather then nothing.
Now this is only P.I. DOES NOT INCLUDE TAXES AND INSURANCE, only because all state's for taxes s different amounts and insurance are different amounts, to get your total payment just divided your home taxes and home insurance by 12 and add that to the P. & I. payment below and that will give you your TOTALL house payment.

P.& I. ONLY BUT WILL SHOW THE DIFFERENCE:
If Loan amount:

$ 50, 000
$283.89 / rate 5.5 % NOW $184.81 / rate 2.00%

$ 100, 000
$567.79 / rate 5.5 % NOW $369.62 / rate 2.00 %

$ 200, 000
$ 1, 135.58 / rate 5.5 % NOW $ 739.24 / rate 2.00 %

$ 300, 000
$ 1, 703.37 / rate 5.5 % NOW $ 1, 108.86 / rate 2.00 %

$ 400, 000
$ 2, 271.16 / rate 5.5 % NOW $ 1, 478.48 / rate 2.00 %

$ 500, 000
$ 2, 838.95 / rate 5.5 % NOW $ 1.848.10 / rate 2.00 %

That is figured on 30 year loans and all fixed rates, so " upsetrep " yes you lenders would not be bring in as much money...but with the economy, would not you rather have some money to bring in!
Peoples credit is bad now and can not buy homes, so foreclosure is not the answer
Realtor's, Loan Officer, Mortgage company's.." Most are NOT employed now.
Construction Worker..." Most are NOT employed now.
Home Building Supply business...not much a demand for NOW, a lot closing there door, so employees NOT employed.
Truck driver's delivers not there...not much a demand for NOW, a lot closing their doors, so employees NOT employed.
ETC...The list goes on and on..But heck, Thank a lot of all the " Greedy and Stupidity " with the housing boom and loose LENDER'S...So, lets move on and correct it A.S.A.P. cause it is not getting better...get the loans down to the 2.00 % that the GOVERMENT has asked you too, WORK with the current home owner's. All this will even crash more with the loan adjustable rate's that are set to expire this year.
Last Aug, 2009, When I applied for the " Loan Modification ", if you would have done some thing then, I would have been able to stay in my home, but I have now used up all my saving, and now as I look back " WHY " I won't have my home much longer any way...So Thank You, NOT for working with me...2.00% rate would have keep me in my home with this not great low paying job that I had to take, when I had no other choice to close my company door's that I owned for 15 YEARS...also NO GOVERMENT BAIL OUT FOR ME, BUT THE LENDER'S GOT TAXPAYERS BAIL OUT FOR MESSING UP..GO FIGURE.

there are some ppl that work for loss mitt that want to try and help, others do not it is sad but true, but there are some of us that do truly want to help but we can only do what we are told to do and say, we are no more than puppets on strings most the time...

I too am in the same situation with Wells Fargo. I am not in foreclosure yet but have received a letter that I need to pay them before June 15th. I walked into the bank this morning with all the money in hand and they would not take my payment saying I cannot make the payment at their financial institution. I was LIVID. What is wrong with this picture. They send you a letter asking you to make a payment, you go there to make the payment and they dont want to take it. I feel like a goldfish in a bowl of sharks. Now Im reading all the comments about lost documents etc and I am afraid if I send a cashiers check they will claim to lose it. My payment due is over 3000.oo. I have to money to become current but when I called them to get an address as to where to send the payment he gave me a bogus address. I googled the address and it was the address of an ATM machine that belonged to Wells Fargo. I couldnt believe how shady that was. This is really scary. I have been walking in my payments to Wells Fargo for the past 8 years. I get behind a couple of months and all of a sudden they dont want to take my payment at the bank. What the F? Im afraid to send a check that big only to have it get lost. Any suggestions from others who are going thru this?

I work with in the Loss Mitigation department at Wells Fargo and I can definately understand where everyone is coming from with the undeniable negatives about some of the representives that work in Loss Mit. However, I and most others I work with do want to help you and empathize that it is your home you are trying to keep. I don't agree with the all the things that happen in Wells and I don't like the way our system is set up but I think people don't get the whole picture of how our department is. We are given a list of numbers: Customer Service, Foreclosure, Esclated number, Collections, Spanish line, and other departments. We are not given numbers to negotiators unless they are listed on your account we are not given the negotiators boss or the anyone higher up than ourselves. Our supervisors can only tell you the same things I can tell you and that is what is on the screen. They also do not have any other numbers and they can do no more than I can. This really frustrates me because I hate hearing customers genuine complaints about our company and our faults and not being able to do a darn thing about it. The most I can do is send out an esclation e-mail and put it in the notes and most people have already heard that mulitiple times before me. I guess my point is yes there are some definate questionable reps out there but please don't blame the loss mit department for all of this because we only know what the company WANTS us to know. I deeply apologize for all the misinformation and rude treatment my fellow reps and our company has given you.

I can beat anyone's complaint here! I got married in July 2007, and since then have been trying to sell my home in Michigan, as I moved into the home my husband had. After trying to sell it for two years, I decided to rent it out - BIG MISTAKE! and I won't bore you with the details that cost me $10, 000 in repairs. I then put it back on the market for $100K LESS than what I owe because house prices in my area are in the toilet! I applied for a short sale, I sent in all the proper required documentation, and received an offer on my home in November of 2009. Thinking all of this may soon be behind me, and after 30 days in the short sale process, the response we received was - "denied"...I was denied because I was CURRENT with my payments. I was then told by the Wells Fargo negotiator that I MUST be delinquent to be considered for a short sale. So, I became delinquent and stopped making payments. As if the phone calls aren't bad enough, the lack of compassion and lack of general knowledge of their system, is enough to make you want to jump off a cliff! Fast forward - over the past 7 months since November, I have lost THREE offers on my home due to the total incompetence of Wells Fargo negotiators and representatives in the Loss Mitigation department. Since I stopped making payments, the home was foreclosed in April - although I have written documentation that the foreclosure would take place in May! I now have a FOURTH offer on my home and it has been with Wells Fargo since March 10 - that is over 90 DAYS - and STILL NO ANSWER. Oh, but they did ask me for updated pay stubs... I am not escalating this to anyone I can in Wells Fargo. I will email ALL executives to get some sort of concrete and concise information... Wish me LUCK..

This is for anyone who has had a bad experience and lost money through Wells Fargo's actions.
I am an attorney in Knoxville, Tennessee - Robert L. Vogel is my name - you can see my website robertvogellaw . com
I am considering putting together a class action suit against Wells Fargo. I would like to hear from people who have been harmed by their business practices. I would especially like to hear from someone in Tennessee to start with, as I would like to originate the suit here.
This may be construed as an ad for services, so, please understand that - I say that to satisfy the BPR Rules.
You may email me, at rlvogel @ robertvogellaw. com

I look forward to hearing from you.

I am sitting here in tears because I have been dealing with WF crap since April 2009. Was married, purchased home, divorced - which prompted me to contact WF in the first place as I alone cannot afford the mortgage payment. Loss of information in the their system, loss of paperwork, mysteriously dropped from the 3 month infamous Trial Period plan, operators who clearly have no clue what they are talking about. I raised complaints to a few Gov't agencies and someone from the 'Presidential Offices of WF' contacted me. She seemed very helpful and very patient, not to mention intelligent and was able to explain what was happening along the way. Unfortunately I find out from someone else today that I wasn't approved - again.
I am ready to sell my home - at a loss of course because it's still not worth what I paid for it 3 yrs ago. I am out of energy and options.
I am shocked and appalled that this has not been taken care of after reading so many posts from so many other frustrated home owners for over a very long period of time. WF is a ginormous money conglomerate. They are so big that they don't care and they will survive and make it through regardless. The rest of us will lose our homes.

I am having the same issues with Wells Fargo for over a year. My husband had a lag in payroll of 2 full paychecks during a time when I am not paid due to working for a school. I asked for a Loan Modification was told that I was approved and that I would recieve paywork within 3 months. No payments should be sent! Got my FIRST set of documents in November of 2009, Second set in December of 2009, Third set in January of 2010, Forth set Feburary of 2010, Fifth set March of 2010. Every set was sent back as soon as I recieved it. In April of 2010 a set was left at the wrong address and I did not recieve it until May of 2010. I sent back as soon as I got it and called WF only to find out I had to start over, which I did. Every phone call was returned, every fax was sent, everything asked for was provided. Told that I would recieve a packet in August, 2010 to start process again. Well I recieved a packet but it was a foreclosures summons. Now I have to pay a full mortage payment to hire an attoney because due to their stupidity I am over a year behind in mortage payments that they told me not to pay. Going to try to methods you have all suggested about contact government and the exec offices. Currently looking into getting a refinance with another company which will of course cost us money.

Hi, I am a collection employer of WF. I can tell you this, MY TRAINING SUCK, for lack of a better word. I was trained to only do outbound( where wf calls you, on an automatic dailer system 6 times a day) and ask for pyment. I was told we were VERY SOFT collections, So I collect softy and politely, and WF goes and tells me I got to be more forceful and take control. Sometimes, they make the collection department do customer service call for inbound. I am pretty good at it now, Some question I got to go find my supervisor for, and they can never give me an answer. It sucks, to make to look like a fool to someone your trying to help because WF can't trainer thier supervisor, or thier reps correctly. I was basically throw into working on the floor, with little real training. Lucky, there are a few good reps in my building that has show me alot of the ropes. I am still learning. One thing about the Loss Mit. Dept is that when we have a call that needs thier attention, they refuse to take it, or they cold transfer the call right to collections. ( cold transfer is not allow- we are trained to warm transfer). Oh, I found out something fun yesterday, You know when a rep tell you if you set up a promise to pay they can stop the calls. When I manually stop the calls for this one client, and two days later guess who the dailer called. The dialer was suspose to drop the number for at least 7 business day, what a load of [censored]. Well, Good news is that out wellsfargo.com/assist site now has a section to check the status of your loan with loss mit, if you completed the finanical worksheet. Which is good new, because alot of brwr would call in for thier status get transfer right to collections and want to know thier status, Which we in collection don't alway have access to that info, and would have to attempt to get loss mit on the line. Oh, One more thing, they pay as poorly. I really think they need to revamp thier training and get rid of that automatic dailer and developed a better way to contact brwrs, so that they stop hassling them. There were many times, brwr would be so angry with wf, that they would yell at me, I would be shaking. its so stressful, and one brwr told my friend, he was going to go to wf and [censored] and everyone else in the building. Lucky, I had some good calls on inbound where I was able to help the person alot, I love when they call me angel, or sweetheart because I put alot into every inbound call I do, where most don't. I was so happy the other day I was able to get customer service to change the due date to thier one clients repayment plan( They will do it once if needed, you just got to let them how bad you need it and if someone tell you they can't do it, they are lieing or lack knowlegde.) I conference on alot of my calls when I transfer to other dept. in case they needed more help from the collection side, and to see what they know that we don't know) One more thing, if your monthly expensive are higher then your income. wf won't help you, they won't even review the loan. It really doesn't make sense. I don't even understand why it is this way. Loss mit wont even review your fin worksheet. And to that person that said you all are low lifes, Hey guy- yea some of our clients are low live, but some of the employees are too, good job at saving face for yourself and the company you work for. Kudo to you.( That was a harsh joke)

I hope some of this comment helps someone out there :D

to reaxe42- I pray that wf can help you, I think alot of ppl are being over looked in the process that needs true help.

I agree with something that that guy said, about brwr calling to just be plain mean, It really make it hard to help anyone if they are hostile. I really don't like being called a [censored], (when I just introduce myself) or being told to [censored], or being called an [censored], or being told they are going to [censored]. I have decide that I won't sit through calls like this anymore and just listen and try to control my voice from shaking, and remain polite, like away. But I will just hang up.

( I actually had one brwr yell at me for 30 minutes, I think he was just stressed out. I was shaking so hard, but I remain sweet and polite and helpful and by the end of the call, he said

Attention Consumers!
Wells Fargo Home Mortgage since June 2004 is a division of the largest subsidiary called Wells Fargo Bank NA. of WFC HOLDINGS CORPORATION dba Wells Fargo & Company. Back in 1998, Norwest merged Wells Fargo & Co. into itself. In 2000, Norwest Mortgage on the sidlines while Norwest promoted their new virtual banking services in all 50 states via wellsfargo.com - promoting Wells Fargo Bank as a safe place consumers can bring their property bother personal and real. In 2000 Wells Fargo Home Mortgage, Inc. storefronts began opening across America.

Consumers please send letters to your Attorney Generals today if you believed the advertising - that you were getting a conumer mortgage from Wells Fargo Bank's Home Mortgage Division. Because what you really got was a general purpose entity owned by a conglomerate who owns banks - employees - took your property into WFHM and WFHM sold in secret to investors since 2000 using third party's to handler the underwriting, appraisals, settlemetn services and by OMISSIONS witheld from you the accurate business facts including the actual loan origination dates, who did the loan origination, and more. At the time in 2006 when WFHM us our WFHM refinance they in secret sold to investor Lehman Borthers including Bear Stearns thru Settlement Agency in NJ and Affiliate of Title Resources Group formerly Cendant Settlement Services in joint venture with Atlantic Title Trust who placed forged signatures on documents, faxed in secret, added fees to contract did not provide documents for review prior ot closing, at closing said we had to sign or pay $30K ...

WFHM was at the time the documents were presented the SERVICER never the LENDER they just place their name on the documents preventing you and I from knowing who the actual party is.

Lehman Brothers is under the federal administration agency superviosry powers of the OTS not the OCC and any documents that were unlawfully processed during loan origination were kept at arms length away from WFHM employees who will deny they had nothing to do with the loan origination and you know the drill.

By OMISSIONS you may have been prevented from entitlements and by OMISSIONS the consumer complaints not reaching the Legislature thru the Federal Administrative Agencies could be the very reason that the Legislature did not know the severity of the conspiracy until it was too late.

For 90 days Wells Fargo Services in secret the Assignments thru the 1031 Exchanges - Mid-Atlantic and in [protected] US National 1031 Exchange.

Title Resources Group has long-arm reach into all 50 states thru Settlement Agents.

We've all been duped!

If you've lost your properties still document what happened and send your letter to your State Attorney General and the US Attorney General and Governor of your state today! Document.

Start your letter

I Petition Redress of Grievances having been harmed by OMISSIONS of Wells Fargo affiliates, entities, subsidiaires, third party's, underwriters, appraisers, settlemetn agents, brokers, dealers, employees and prayerfully seek injunctive relief. By OMISSIONS and with intent Wells Fargo Home Mortgage took property by deception into WFHM and WFHM in secret engaged in commerce interstate and intrastate since June 2004 as an unregistered entity and using in secret 3rd partys did not process Mortgage Corporation business thru the Wells Fargo Bank, National Association and witheld accurate business statements creating Predatory Home Mortgages and WFC HOLDINGS CORPORATION manufactured financial products and financial services for sale in the public domain that contained manufacturing defectis indeed at at the time of sales causing substantive harm to ... As a Citizen of the great state of, I humbly submit to my Authority worongs which may include intent to take property by deception, allowing third party's to take possession of my property in a larcenous manner, False Claims, False Statements, Misrepresentation, and more. By the OMISSIONS I was unable to be protected from harm of unlawful business acts and the deception of where I was to file complaints and the midhandling and negligence of Wells Fargo Home Mortgage servicers, employees, subservicers, led to the unlawful takings of my property for the misrepresentations resulted in predatory practices that resulted in the employee of WFHM recommending financial solutions using my only asset iand wer enegligent in misrepresenting and placing me at a risk level that I could not afford to take using my property as an investment and with much shame and harm to my family and state and nation, I prayerfully ask you to enforce the laws and protect the entitlements every citizen has under Article IV of the Constitution. We are not safe in life and property and we are without due process and without equal protection. The harms inflicted began in 2000 when the Gramm Leach Bliley Act allowed banks to own conglomerates and conglomerates to own banks and to hide the names and withhold information from consumers.

http://www.saveamericaonemortgageatatime.com
Linkedin Mary Cochrane

I initially got my loan through Wachovia (which had great customer service that WF could stand to learn from) and it was purchased by WF. This happened in October 2009 and it has been pure hell ever since. They must kill a whole forest a day with all the mail they send out. WF obtained a phone number for me (that is not even where a good number to reach me) through some other means since I did not give the number out that they are harassing me at. Still wondering if that is legal for them to do this. I am only 1 month behind on my payment and I correspond with them to make them aware that of the date that I will catch this up and still I continue to see an inspection fee of 15.00 per month on my bill. WTF they don't get enough of my money so add another 15.00 a month and threaten foreclosure for being 1 month behind. Stressing people out will not make money appear in the bank to pay the bill. All that does is piss people off and show what a crappy company you are.

I used to work for Wells Fargo in the loss mitigation department. Finally, after too much stress, I gave in and quit. The things everyone is saying here are true, just make sure that you are blaming the correct people! I made $8.50 an hour working for Loss Mit, which is not enough to pay ANYONE'S mortgage. I personally never made a decision to foreclose on a house, nor did I make a decision to deny a modification request. I genuinely feel for people who are in rough situations, however many of the people I spoke with each day were nasty from the get-go, angry with me because they had fallen behind, and frustrated that Wells Fargo was not just going to change the amount of the loan to the "current market value". I'm sorry, that one is the dumbest I've ever heard. If you borrow $300, 000 from a bank, and then all of a sudden your investment goes bad, YOU STILL OWE the $300, 000!
I wish there were more reps out there who cared and tried to help, however with the training given it's very difficult to figure out what the job entails. I was hired off the street, a 21 year old college student who had never even taken out a loan, never had a credit card, and DEFINITELY never owned a house. I was given a week of training in a classroom, a week of training on the phones, and then let loose. If I had questions, or had an escalated call, my supervisor would not help me. Instead he would just tell me to go on with the call and hang up if the borrower ended up using abusive language. It took me about 3 months to finally figure out the ins and outs of Loss Mit, the things that will help a borrower and what will hurt them. Unfortunately, in that 3 months I'm fairly positive that I gave some people the wrong information. I was genuinely trying my best, but with the constantly changing standards and information it took me a long time to get comfortable. Now, at 6 months in, I am a competent representative. If someone speaks with me on the phone I can usually help them, or at least I know who they need to speak with to get helped. However, due to the frustration of ever-changing standards and the knowledge that there is no room for growth at this job, I am leaving today.
I apologize to any borrowers who have had issues with Wells Fargo, but I totally understand. When you deal with representatives who are almost always newly trained (6 months is a long time for a rep in my building to last, there are only 2 other people who have worked longer than me) then there will always be miscommunication.

People, file a complaint with the OCC! http://www.occ.treas.gov/ I'm about to start round 2 with them! Round 1 settled in my favor and WF apparently forgot so here we go again.

Wells Fargo provided the loan for my home and now a group of Investors is trying to take it away. I chose Wells Fargo because of the people at the branch. If I had known strangers would end up with my loan I would have gone somewhere else.

I was first told by Wells Fargo I could not do a loan modification until I was late now I am 21 months behind and now I am told the "Investors" don't do permanent loan modifications and will not comply with the HAMP program or any other program. Why are they telling me now that there is a sale date of March 22, 2011? Why didn't they say this in the beginning? Your press release dated May 17, 2010 states Wells Fargo has 146, 000 borrowers who have made their HAMP trial payments. Why not me?

After making 60 interest only payments Wells Fargo has a trustee sale date of March 22, 2011. Now they have taken my money and now they want to take my home.

I am suing Wells Fargo and have gone through heck-and-back with them. I worked with their Loss Mitigation Depts. at a time when I was never behind in payments believing that they would correct a major escrow mistake (they used Stuart Title). I was making a sufficient salary and was consistent with the same employer and salary for more than 11 years at the time. They assured me that they would correct their mistake and that I should not worry. WF also suggested that I allow them to correct this issue in a loan mod instead of them re-writing the loan. I believed their Stage Coach BS and went for it. I know all of our issues are different as I purchased my home 13 years ago and they screwed up a refinance. Please TRUST ME; do not believe anything that these banks say because if they were operating in good faith they would say so in writing not empty promises. Unfortunately we operate in a society of contracts and you cannot afford to believe their lies. They are lying to consumers to toll the clock that means they have a specific amount of days to keep you in the HOPE cycle and you look up and you've lost your options and have been foreclosed upon. Their seemingly good intentions are scripts and to the more tenured WF employee it's a creative script. I am now suing them in Central District of Los Angeles and I also had to file a Lis Pendens (too convoluted to explain). I am in possession of my property but it's a costly endeavor. I am confident that I will prevail as they are talking settlement but their attorneys will continue to try to bill on this client, so it could go another 3 to 6 months. As a consumer, if you are wronged by these banks, SUUUUEEEEEE them, that's all they know and trying to be reasonable with them is not in your best interest and they are too big to care. They are banking on your being able to beat you down with litigation discovery, demurrers, and all sorts of litigation games but hang in there and fight the giant. During this stress time, workout to work off the stress, make your $$$ to put them $$$ aside and SUE them.

I don't know if I feel better or worse after reading all these! We, too, are in the same boat. $27, 000 worth of damages to our home this winter d/t ice damming. Insurance company was prompt in sending a check, but unfortunately it was made out to us and Wells Fargo. We sent in the paperwork required by WF along with the endorsed check - and the games began. We waited for the first disbursement, never received it, I called and there was the first excuse - that our signatures were not dated. It is May 20th and this has been going on since Feb. 2! We received the first 1/3, did appropriate work, the inspector that WF chose came out and inspected (what we felt was 50% complete) and stated we were at 90%. I submitted an exception to receive the rest of my funds, plus interest, so that we can finish the work to our home, and have been given a litany of excuses since submitted it (up to and including "I know this doesn't help you, but there have been a lot of claims and natural disasters"...etc). Not to mention that we have had our mortgage with them for 17 years and have tons of equity built up in the property! I am at a loss - how do I get my own money from them? I'm calling the Attorney General, our local TV news department consumer advocate, and the banking commission. Hopefully someone can help us!

I applied for home loan. Wells takes the file asking me for income documentations, three weeks later and getting close to the closing day, they asked me for my wife student loans which I provided then they asked me for Appraisal fees and septic inspection for $1000 then they denied my loan.
Now I lost $1000 and a nice home for my family
Wells Fargo Bank emp are liars, cheeters and thieves
please close all your accounts before you lose your money