About Me

I am an organization freak! I hope that I can share some helpful things with you. Becoming organized is not as easy as it sounds.

Monday, November 7, 2011

Wells Fargo executive contacts

Hope this helps,
A list of all of the Wells Fargo Contacts that I could find that has been posted to LoanSafe.org

I thought that I would post it because it might help someone else with limited time. KUDOS to the memebers that first posted this information, I'm taking no credit for the copy and paste job!!

John Stumpf (415) 396-7018
CEO: John G. Stumpf
420 Montgomery St.
San Francisco, CA 94163

Cara K. Heiden, CEO

Mary Coffin, Vice President

Sharon Cecil, Assistant to Both

Todd M. Boothroyd
Senior Counsel, Real Estate Division

**** Kovacevich (415) 396-4927

Mark Oman (515) 324-2035

Cara Heiden (515) 213-4040

Executive number for members to use to escalate the
mod process 1-800-853-8516.
Executive Communications
MAC X2302-02J 800 S. Jordan Creek Parkway
West Des Moines, IA 50266
515-324-3130 and 515-324-2872

Denise Erickson
Executive Mortgage Specialist,
Office of the President, WF Home Mortgage
MAC X2302-019
1 Home Campus
Des Moines, IA 50328

Wells Fargo says most of its mortgage modifications in-house

This is important because Wells Fargo received funds from the Government to do HAMP loan mods, in which the borrower receives incentives and is given better loan terms. I was denied HAMP and given an in-house loan mod and the terms are ridiculous. Wells still received money from the government to give me a HAMP loan mod.

Thursday, November 3, 2011

One of the emails I sent to John Stumpf, President of Wells Fargo.

To say that I had a poor experience in dealing with Wells Fargo is an understatement.  Applying for a loan modification was clearly a mistake.

The modification agreement dated May 21, 2009 that I received sounded great. 
Trial Period Payment:
1             $1,072.82           Due 6/20/09
2             $1,072.82           Due 8/01/09
3             $1,072.82           Due 9/01/09

After making those payments, I receive the Home Affordable Modification Agreement due back signed by 10/5/09. This agreement changed our monthly payment to $1,250.18. We were not behind on payments and our trial payment was $1072.82.

I made a phone call to Wells Fargo in which I was told that the increased payment was normal. I wasn’t satisfied with that. I called again on 10/20/09 and spoke to William, who actually decided to help me. He looked over things and determined that WF had incorrectly calculated our monthly income as $3773 when it was actually $3132, which would explain the higher payment. He had me refax our paystubs to Loss Mitigation.

I began documenting every call I made after 10/20/2009. Here is what I dealt with from 10/2009 to
09/2010 and I am still not satisfied.

10/26: Ally told me that my file said our income was being reviewed and to keep making trial payment.

11/11: Katie told me our file was being reviewed by negotiators. No additional information available.

12/7: No new information, keep making trial payment amount.

12/20: Travis recalculated our income AGAIN at $2728 (our income decreased more during this time).

1/18/10: Still in review. I was told to make trial payment.

2/17: Scott told me the requested information was received from Titanium Solutions. (Titanium Solutions visited me 3 different times requesting information for Wells Fargo) He told me he was sending an email to his supervisor and to call back in a few weeks.

3/17: Jillian told me to ask for a senior rep next time I called if no information was available and advised me to fax our paystubs for the 3rd time.

4/5: Marcus said he was sending an “escalation request.” I gave him my cell phone number to put in the file and told me to call back next week if I don’t receive a call

4/12: Still in review, no information available.

5/5: Someone from Wells Fargo called me at 5pm to request that I fax paystubs a 4th time. I faxed our paystubs on 5/6/10.

5/20: Letter dated 5/20 informing us that we may be eligible for HAMP.

5/24: I received a letters dated 5/16 and 5/23 stating that our loan is in default and was facing foreclosure. I faxed the financial worksheet, 2009 tax returns, and hardship letter.

5/26: I faxed detailed expenses sheet per request

6/2: Patricia called at 8:15 pm on home phone number, which I had specifically told them not to do because I did not have voicemail. Both of our cell and work numbers were on file. My caller ID only showed unknown numbers as missed calls. How would I know that it was WF?
*She was calling to inquire on the delinquency of our loan. She told me our loan mod was denied because they were missing info. She told me that WF called 3 times, could not leave voicemail (see above note), and since I didn’t return the call, they closed our file. She tells me to fax everything again and she would restart the process. I was told to make payment of $1301.91. I gave her my cell number again.

6/3: Faxed all requested documents at 1:50 pm.

6/4: I have a missed call from an unknown number on my home phone, still no call on my cell phone.

6/10: Received new agreement, dated 6/9. The new payment would be $1350.05 and my interest rate would stay the same. That was higher than my original payment.
On 6/10 I searched the internet and found the email addresses of some WF executives and sent in a letter quite similar to this one.

6/14: Received call from Robin Webb at the President’s Office. She told me I was not on HAMP. She would contact Loss Mitigation on my behalf.

6/21: Called Loss Mitigation to check on status but was told that I could only communicate with the President’s Office.

7/17: Received HAMP agreement, signed by Dianne Johnson. This time, our new payment is $937.71, which was perfect. Then, I read further and our interest rate had been lowered to 4.25% and loan maturity date went from 7/1/2037 to 8/1/2050, to begin on 9/1/10. I had 10 days to return the signed agreement or the deal would be cancelled. I had no other choice but to give in.

7/22: Contacted negotiator. I was told that the loan had to be extended to 40 years, which I know was not true. I was out of town and had poor cell service so it was hard to fight it.

7/28: Called phone number given and left message for Jeremy Norton at the Office of the President. I never received a phone call back.

7/29: Called President’s Office again to inquire about the agreement. She told me that they could only lower the interest rate 3% and they had to extend the loan to 40 years.
I know this is completely false because my 1st, 2nd, and 3rd agreements did not extend the loan to 40 years.

I am looking at information retrieved from the HAMP program website.  The series of steps to bring the payment to 31% of income states “First, reduce the interest rate to as low as 2%. Next, if necessary, extend the loan term to 40 years.” I was told by one negotiator that Freddie Mac required the loan term to be extended to 40 years. Another told me that our interest rate could only be lowered 3%. Our interest rate was lowered to 4.25% and term extended from 27 to 40. It doesn’t appear that Wells Fargo followed the proper procedure, now does it?
What really upsets me is that by the end of the modification, we had accrued $5,336.58 in interest because were paying $1,072.82 per month for 12 months while our account was being charged $1301.91 (our original payment). I understand that we were responsible for the difference in interest for 3 months’ payments during the trial period, which would come to $229.09 per month and a grand total of $687.27. Added to that amount would be the payment we were not asked to make in July 2009. So $1,072.82 + $687.27 = $1760.09. That number is a third of what we were actually charged.  The idea of paying additional interest for the next 40 years on that amount sickens me.  I was told to keep paying the modified amount, not thinking that I was going to be charged the difference for over a year. Again, I have a letter stating that “inadvertent miscalculations” were made by Wells Fargo on my 2nd and 3rd agreements. Why am I responsible for that?

When we started the modification, our principle balance was $147,216.05 and it turned into $152,368.63. We were not behind on our payments at this point either. Our original loan amount was $151,500 in 2007. That is ridiculous.

I was also charged late fees on 2/16/10, 3/16/10, 4/16/10, and 5/17/10 at $51.68 each for a total of $206.72. The agreement states Wells Fargo will “waive ALL unpaid late charges at the end of the trial period.” Because of errors on Wells Fargo’s part (I have a letter from WF stating that errors were made), we didn’t technically fulfill the terms of the trial period.  We made 12 trial period payments. I expect those late charges will be credited back on our account.
I have not received any part of the $1000 “borrower incentive” explained in my 1st and 2nd agreements. My trial period started in June 2009, so I should have had $2,000 in principle reductions to date. I am sure that Wells Fargo received its $1500 incentive for “modifying” our loan.

I have attached several documents, including my first complaint letter sent to Wells Fargo, letter stating that Wells Fargo made the mistakes, and our FOUR different modification agreements. 
I hope that Wells Fargo can do something to make this right.  I was so happy with the first modification agreement. I understand that mistakes do happen but they should be corrected. I know it has been a year since this modification was signed but it isn’t and never has been acceptable.  I feel that my case deserves another look to see what can be done.

One of the emails I sent to John Stumpf, President of Wells Fargo.


Mr. John G. Stumpf
Wells Fargo Home Mortgage
Executive Communications Office
MAC X2302-02J
800 S Jordan Creek Pkwy
West Des Moines, IA 50266

I recently sent a letter along with numerous documents showing the poor service I received from Wells Fargo in dealing with my HAMP loan modification. I received a voicemail from someone in your office. I have called back and left two voice mails and have not received another call since. Among other things, I was wondering why I was charged late fees and had my loan extended to 40 years before lowering my interest rate to 2%, and why I have not received the HAMP incentive payments. Well, it just occurred to me today that I was taken off the HAMP program (after being approved twice) and put into a normal Wells Fargo modification. I should have realized it when my 3rd and 4th agreements were not in the same "HAMP" format as the 1st and 2nd. I assumed this was because I was working with an executive loan servicer at this point. I am very upset about this and feel that I should be offered my original agreement (from May 2009) and my account should be changed accordingly. I don't want someone to call me and tell me that "I am not eligible for HAMP because I was already entered into the program." Yes, I was entered into the program and after 14 months of making trial payments and calling to check on the status, I was denied because I failed to send requested documents (I sent documents many times and have all of my paperwork and fax confirmations to prove it). This is when I first contacted the Office of the President and was told that I was not in the HAMP program. I was given the impression that I would be placed again into the program. I feel like I have been taken advantage of. If necessary, I can resend my two complaint letters and all supporting documents but this should all be on file already.

Wells Fargo Sued in Federal Court for Failing to Modify Mortgages Under HAMP

Sign my Change.org Petition

Many homeowners were "helped" by Wells Fargo through the Making Home Affordable program.  From my own personal experience and the hundreds of stories I have read on the internet of others, it is clear that they did not follow program guidelines and most of us are now in worse financial shape than before we started the loan modification process. Although I did not lose my home through foreclosure like many have, I spent about 15 months fighting with Wells Fargo while they lost my documents, never bothered to resond to my concerns, and ended up owing them over $5,000 and had my loan extended out to 40 years.  We received 4 different agreements because they kept messing things up and we did everything that we were asked to do. I was current on my mortgage before starting the loan mod process and because the "3 month" process took 15 months, the difference in interest between my modified payments and my "actual" payments and the late fees was added to my mortgage. I now owe interest (for 40 years) on interest accrued because Wells Fargo made "inadvertant miscalculations," which they admitted. I have had to contact the Office of the President of WF to get any help whatsoever. I know there are many people out there that were screwed over while trying to better their financial situations through the program that Wells Fargo received BILLIONS of dollars to participate in.