Trying to Get in Touch with John Edwards

[abcornwell]

Originally Posted by Catbirds

The first thing I would do is write the Banking Commissioner in N.C. as well as The Attorney General's office. There are so many other states that are filing suits against Wells Fargo as well as Bank of America. I don't know why they don't here. At least have it on record that you filed a complaint. Maybe if enough people did this in N.C .that were having problems, something would be done. My friend went through a similar problem with Wells Fargo but doesn't have the money to hire a lawyer. Good luck.

Thanks Catbirds, good idea. Will do.

[abcornwell]

Originally Posted by arbyunc

Just to play devil's advocate a bit, you realize the bank is doing you a favor to modify your loan, right? I mean, they don't have to do it. You agreed to the original terms, and unless they did something wrong in the origination they have every legal right to hold you to it. On what grounds would you sue them?

You miss the point.

There are suits in several states around the fact that the banks (in particular Wells Fargo) close out homeowners files for a HAMP modification due to "lack of documentation". The homeowner discovers the documentation was never requested - not by phone nor by mail - not in general nor in particular. A homeowner cannot provide what was not requested.

One case (Massachusetts, I think) went to foreclosure (due to lack of documentation) - even though the homeowner provided every single bit of doc requested, correctly and promptly. The bank ignored the homeowner until an attorney took the case and discovered several hundred others in that state in that same situation. Wells Fargo is now working with those homeowners on processing their paperwork. Whether they can get mods or not, who knows? But at least the door won't be slammed shut for a "made-up reason".

If the bank cannot find any kind of modification for me, that's the breaks. I'd have to move on to a short sale or deed in lieu of foreclosure (or whatever comes next.) But when my file is closed due to lack of doc that was never requested of me - that's a problem.

[arbyunc]

Okay, I see now. I didn't understand the exact nature of your problem; thanks for clarifying.

Good luck!

[arbyunc]

ab, do you have any links for the situations/cases you describe? Just curious, as I work in the mortgage industry and I've never heard of this being a problem. It seems odd to me because it's generally favorable for the bank to work out a mod, due to the costs and uncertainty of the foreclosure process. I don't think they would have much incentive to screw people over in this way. Also, if lack of documentation is the problem, it seems they would simply notify the homeowner and give them an opportunity to provide it.

[abcornwell]

Originally Posted by arbyunc

ab, do you have any links for the situations/cases you describe? Just curious, as I work in the mortgage industry and I've never heard of this being a problem. It seems odd to me because it's generally favorable for the bank to work out a mod, due to the costs and uncertainty of the foreclosure process. I don't think they would have much incentive to screw people over in this way. Also, if lack of documentation is the problem, it seems they would simply notify the homeowner and give them an opportunity to provide it.

I will try to dig them up - especially the Massachusetts one.

I don't think the banks are doing this on purpose - no one sat down in a closed room and rubbed their hands together and said "Heh heh now let's screw over the little people." :-) (Hahahaha BP is doing that job!)

I think it's disorganization, which is no surprise due to the volume, and no mechanism for oversight (I hate that word as it often means layers of bureaucracy that slow things down.)

Let me give you an example - I filled out the Request for Modification and Affidavit. Double-checked my answers, but, I did not fill out the field on page 2, upper right, "Size of Household". My mistake for sure. I faxed it along with other paperwork on April 22nd. Between that date and yesterday I had umpteen conversations with various reps (I did have one dedicated to me but he left and I ended up talking to two other reps) regarding various documents the processor needed - and I would immediately pull together the info and fax it. Then I would, a week later, call to make sure what I had faxed had been received, imaged, and was on file. Lots of contact, lots of conversations. I dotted my i's and crossed my t's. Not once, never, did anyone say "Hey! You didn't fill out the Size of Household field!" If they had I would have scrambled and done whatever was needed to rectify the mistake.

So I call yesterday, having FINALLY gotten the name and number of the processor (actually I had been calling and leaving messages since last week but yesterday was the first day I actually was able to reach him) and explain I'm touching base to see if all the paperwork is in order, did they get my last slug of faxes from June 3rd through June 10th. He says "Your file has been closed due to lack of documentation. You did not provide the Size of Household on page 2 of the Request for Modification form. All the documentation was due June 12th and you did not provide this, so your file is closed."

Heh, and I think "WTF!" since April 22nd no one has told me that info was lacking?? So I ask him if they have everything else needed, and he says yes. And I ask why didn't anyone tell me I missed filling that out and I could have corrected the mistake? THEY HAD A FRICKIN' 6 WEEKS TO LET ME KNOW! (I didn't yell or swear on the phone, just in my head.) He says he doesn't know, but it's the rules that if the doc isn't complete after 45 days the file is closed and I can start all over again, and he give me Loss Mitigation's number and tells me to call to start all over.

Now, this is round two for me with Wells Fargo. I received my trial mod w/Wachovia (late summer 2009) which went fine - paid every month on time and in the correct amount. Wells Fargo picked up my mortgage in the fall of 2009 -- let a lot of time pass -- December 23rd I received my paperwork for a permanent mod and damned if they didn't screw that up.

So now I begin round three. When I ask if I can talk to a manager, I get nowhere. When I ask who I can write, I get nowhere.

I don't know if it's a matter of Wells Fargo screwing up Wachovia trial mods, or if Wells Fargo is just a messy mess and lots of folks are having this happen. I am not sure how to find out about other's experiences, which is why I am poking around trying to find out if there's litigation, or a consumer group, or someone somewhere looking at this kind of stuff saying "Hey bank! Your homeowner did everything you asked, on time, correctly. And when they needed to correct something, they did, on time. Now bank, you have to at least be held to the same level of responsiveness."

So now you know more than you ever wanted to know.

[arbyunc]

^ Yeah, that just sounds like extreme incompetence, which isn't necessarily illegal so I'm not sure there's much an attorney could do for you. All I can suggest is to keep badgering them about it. Maybe eventually you'll get someone with a brain to help you out.

Thanks for the info!