Home Preservation is bull shit
Complaint
Anonym
Country: United States
I just want to inform everyone that Wells Fargo's Home Preservation department is useless and very deceiving. In the last few years I have faced numerous hardships due to medical conditions, unemployment, and salary cuts, in which I had used all my savings and 401k, because "Wells Fargo's Home Preservation Program", failed to provide any help and I was denied any help every time. A common phrases I heard numerously were “we can’t do anything for you Sir”, “we’ll have one of our specialist call you back”, and “this call is an attempt to collect a debt”. This program will not work, but influence the buyer to continue paying their mortgage thinking help is on the way, “NOT TRUE”, while Wells Fargo is receiving money and continuing foreclosure on your house. If you noticed that every department from Wells Fargo, when they call the 1st thing out of their mouth is, “this call is an attempt to collect a debt”, which advice you to pay immediately. In the same day Wells Fargo inform me that my home had trigger the initial proceedings for foreclosure and notify you that you have 34 days for repayment (this was more like a threat than a notification) and later that day I was contact by this department and was told different, which recommended to continue payments and my loan will be reviewed by an underwriter within 30-60 days. Wells Fargo is full of s***, they don’t care about you; because the loans are insured and they will get paid no matter what. Their goal is to squeeze your money while they’re following the state foreclosure guidelines. This is why the government is currently auditing the bank’s foreclosures in search of foul play. Im in my last proceeding and I trying to borrow money from family members to repay the passed due amount…..”Why you may ask?” This is my roof over my head and all my money has been invested in this home, I don’t want to lose it for just $8K. I recommend that if your facing this situation it’s better to make a decision early and decide to either stop paying mortgage and save your money (live free for 6 to 18 months free) or borrow money and make your account current only if you believe you can continue paying your mortgage for at least another 1-1.5yr. Don’t depend on Wells Fargo to provide any help or alleviated your situation. Avoid working with Kevin Finnen and Zanarda Johnson Home Preservation Specialist.
They don't want you to qualify and they ask for the same documents numerous times, change process, change forms, and change personnel in the process to start all over, and missing information, which was never requested.
Check this websites:
https://www.wellsfargo.com/press/2010/20100115_HAMP
http://www.johnmschwarzlaw.com/wells-fargo-analysis-50-fail-hamp-eligibility/
They don't want you to qualify and they ask for the same documents numerous times, change process, change forms, and change personnel in the process to start all over, and missing information, which was never requested.
Check this websites:
https://www.wellsfargo.com/press/2010/20100115_HAMP
http://www.johnmschwarzlaw.com/wells-fargo-analysis-50-fail-hamp-eligibility/
Comments
less than the market rental prices in our area. My husband, a police officer, lost his job after 6 years- due to budget cutbacks. All we were hoping for was a little assistance until he secures another job. Nobody can predict their future, and not everybody purchased homes out of their budget.
This is heart breaking to read.. so many people faced with a situation that seems to not have any answers- There may be some relief for some There is a program called the Hardest Hit Fund where the government has allocated millions of dollars to the 18 states hardest hit by the foreclosure crisis.
Alabama
Arizona
California
Florida
Georgia
Illinois
Indiana
Kentucky
Michigan
Mississippi
Nevada
New Jersey
North Carolina
Ohio
Oregon
Rhode Island
South Carolina
Tennessee
Washington D.C.
Each states program vary but there may be some relief for those that may be unemployed or under-employed. It seems the banks as well as some of the participating states have not done a good job of promoting this program.
If you live in any of the listed states visit http://www.treasury.gov/initiatives/financial ... -Documents.aspx to learn about the program in your state.
I hope this can offer help to some if not everyone.
Always remember, Mortgage servicing companies are being paid with TAXPAYER funds by the Federal Government to provide you Mortgage Modification services. They are in service to you, not the other way around. The servicing standards are set up to limit distress to borrowers in an already stressful situation.
Each state’s Attorney General’s Office is involved in the process. If you’re having problems as indicated in this forum, you need to download complaint forms and file them. This will not affect the outcome of you settlements. The Federal court rulings set up standards to protect you.
Office of Mortgage Settlement Oversight
Joseph Smith Director.
http://mortgageoversight.tumblr.com/tagged/Servicing%20Standards
JS Quote: There 300 standards defined governing how servicers treat their distressed customers.
These standards are monitored by Joseph Smith quarterly. These reports come from the Primary Professional firms (PPF) and the Secondary Professional Firms (SPF) handing the servicing.
Important!! There is no monitoring or surveying of the distressed customers being served.
Consequently the distressed customers’ only way of feedback is via online forums
Standards:
Customer service (including communication
protocols, single point of contact, staffing levels,
training and oversight) Standards that govern
interactions between borrowers and their
servicers to enhance service quality and to reduce
confusion and lost time
Documentation
(including preservation of original note, accuracy
of information, borrower access to documents)
Standards that safeguard the paper trail so it is
accurate and available to all parties.
Loan modification
Standards that define borrowers’ ability to modify
the terms of their loans and servicers’ obligations
when they agree to consider a loan modification, in order
to make foreclosure a last resort.
Single Point of Contact (SPOC)
1. Servicer shall establish an easily accessible and reliable single
point of contact (“SPOC”) for each potentially-eligible first lien
mortgage borrower so that the borrower has access to an employee
of Servicer to obtain information throughout the loss mitigation,
loan modification and foreclosure processes.
2. Servicer shall initially identify the SPOC to the borrower promptly
after a potentially-eligible borrower requests loss mitigation
assistance. Servicer shall provide one or more direct means of
communication with the SPOC on loss mitigation-related
correspondence with the borrower. Servicer shall promptly
provide updated contact information to the borrower if the
designated SPOC is reassigned, no longer employed by Servicer,
or otherwise not able to act as the primary point of contact.
Documentation
Servicer shall maintain procedures to ensure accuracy and timely updating of borrower’s account information. Servicer shall also maintain adequate documentation of borrower account information, which
may be in either electronic or paper format.
I did and got the Operations Officer for American Servicing Directors attention. Keep the st Att Gen in the loop. It will help. Good Luck
Always remember, Mortgage servicing companies are being paid with TAXPAYER funds by the Federal Government to provide you Mortgage Modification services. They are in service to you, not the other way around. The servicing standards are set up to limit distress to borrowers in an already stressful situation.
Each state’s Attorney General’s Office is involved in the process. If you’re having problems as indicated in this forum, you need to download complaint forms and file them. This will not affect the outcome of you settlements. The Federal court rulings set up standards to protect you.
Office of Mortgage Settlement Oversight
Joseph Smith Director.
http://mortgageoversight.tumblr.com/tagged/Servicing%20Standards
JS Quote: There 300 standards defined governing how servicers treat their distressed customers.
These standards are monitored by Joseph Smith quarterly. These reports come from the Primary Professional firms (PPF) and the Secondary Professional Firms (SPF) handing the servicing.
Important!! There is no monitoring or surveying of the distressed customers being served.
Consequently the distressed customers’ only way of feedback is via online forums
Standards:
Customer service (including communication
protocols, single point of contact, staffing levels,
training and oversight) Standards that govern
interactions between borrowers and their
servicers to enhance service quality and to reduce
confusion and lost time
Documentation
(including preservation of original note, accuracy
of information, borrower access to documents)
Standards that safeguard the paper trail so it is
accurate and available to all parties.
Loan modification
Standards that define borrowers’ ability to modify
the terms of their loans and servicers’ obligations
when they agree to consider a loan modification, in order
to make foreclosure a last resort.
Single Point of Contact (SPOC)
1. Servicer shall establish an easily accessible and reliable single
point of contact (“SPOC”) for each potentially-eligible first lien
mortgage borrower so that the borrower has access to an employee
of Servicer to obtain information throughout the loss mitigation,
loan modification and foreclosure processes.
2. Servicer shall initially identify the SPOC to the borrower promptly
after a potentially-eligible borrower requests loss mitigation
assistance. Servicer shall provide one or more direct means of
communication with the SPOC on loss mitigation-related
correspondence with the borrower. Servicer shall promptly
provide updated contact information to the borrower if the
designated SPOC is reassigned, no longer employed by Servicer,
or otherwise not able to act as the primary point of contact.
Documentation
Servicer shall maintain procedures to ensure accuracy and timely updating of borrower’s account information. Servicer shall also maintain adequate documentation of borrower account information, which
may be in either electronic or paper format.
they "found it" So now they have two copies. The reps talk so fast I have to ask them to repeat everything.
I don't have anything but my mortage with them these days. My wife is dying from kidney failure (among
other things) and she'd like to die at "home" rather than have a move to hasten her passing. I haven't
worked since 2008 as the rate of unemployed union electricians is at 19.96% If this was a republican we'd
be marching on washington. I'm not sure the country will survive to say nothing of ourselves. It's like I
say about my car insurance, "you are NOT a good neighbor!"
Always remember, Mortgage servicing companies are being paid with TAXPAYER funds by the Federal Government to provide you Mortgage Modification services. They are in service to you, not the other way around. The servicing standards are set up to limit distress to borrowers in an already stressful situation.
Each state’s Attorney General’s Office is involved in the process. If you’re having problems as indicated in this forum, you need to download complaint forms and file them. This will not affect the outcome of you settlements. The Federal court rulings set up standards to protect you.
Office of Mortgage Settlement Oversight
Joseph Smith Director.
http://mortgageoversight.tumblr.com/tagged/Servicing%20Standards
JS Quote: There 300 standards defined governing how servicers treat their distressed customers.
These standards are monitored by Joseph Smith quarterly. These reports come from the Primary Professional firms (PPF) and the Secondary Professional Firms (SPF) handing the servicing.
Important!! There is no monitoring or surveying of the distressed customers being served.
Consequently the distressed customers’ only way of feedback is via online forums
Standards:
Customer service (including communication
protocols, single point of contact, staffing levels,
training and oversight) Standards that govern
interactions between borrowers and their
servicers to enhance service quality and to reduce
confusion and lost time
Documentation
(including preservation of original note, accuracy
of information, borrower access to documents)
Standards that safeguard the paper trail so it is
accurate and available to all parties.
Loan modification
Standards that define borrowers’ ability to modify
the terms of their loans and servicers’ obligations
when they agree to consider a loan modification, in order
to make foreclosure a last resort.
Single Point of Contact (SPOC)
1. Servicer shall establish an easily accessible and reliable single
point of contact (“SPOC”) for each potentially-eligible first lien
mortgage borrower so that the borrower has access to an employee
of Servicer to obtain information throughout the loss mitigation,
loan modification and foreclosure processes.
2. Servicer shall initially identify the SPOC to the borrower promptly
after a potentially-eligible borrower requests loss mitigation
assistance. Servicer shall provide one or more direct means of
communication with the SPOC on loss mitigation-related
correspondence with the borrower. Servicer shall promptly
provide updated contact information to the borrower if the
designated SPOC is reassigned, no longer employed by Servicer,
or otherwise not able to act as the primary point of contact.
Documentation
Servicer shall maintain procedures to ensure accuracy and timely updating of borrower’s account information. Servicer shall also maintain adequate documentation of borrower account information, which
may be in either electronic or paper format.
Always remember, Mortgage servicing companies are being paid with TAXPAYER funds by the Federal Government to provide you Mortgage Modification services. They are in service to you, not the other way around. The servicing standards are set up to limit distress to borrowers in an already stressful situation.
Each state’s Attorney General’s Office is involved in the process. If you’re having problems as indicated in this forum, you need to download complaint forms and file them. This will not affect the outcome of you settlements. The Federal court rulings set up standards to protect you.
Office of Mortgage Settlement Oversight
Joseph Smith Director.
http://mortgageoversight.tumblr.com/tagged/Servicing%20Standards
JS Quote: There 300 standards defined governing how servicers treat their distressed customers.
These standards are monitored by Joseph Smith quarterly. These reports come from the Primary Professional firms (PPF) and the Secondary Professional Firms (SPF) handing the servicing.
Important!! There is no monitoring or surveying of the distressed customers being served.
Consequently the distressed customers’ only way of feedback is via online forums
Standards:
Customer service (including communication
protocols, single point of contact, staffing levels,
training and oversight) Standards that govern
interactions between borrowers and their
servicers to enhance service quality and to reduce
confusion and lost time
Documentation
(including preservation of original note, accuracy
of information, borrower access to documents)
Standards that safeguard the paper trail so it is
accurate and available to all parties.
Loan modification
Standards that define borrowers’ ability to modify
the terms of their loans and servicers’ obligations
when they agree to consider a loan modification, in order
to make foreclosure a last resort.
Single Point of Contact (SPOC)
1. Servicer shall establish an easily accessible and reliable single
point of contact (“SPOC”) for each potentially-eligible first lien
mortgage borrower so that the borrower has access to an employee
of Servicer to obtain information throughout the loss mitigation,
loan modification and foreclosure processes.
2. Servicer shall initially identify the SPOC to the borrower promptly
after a potentially-eligible borrower requests loss mitigation
assistance. Servicer shall provide one or more direct means of
communication with the SPOC on loss mitigation-related
correspondence with the borrower. Servicer shall promptly
provide updated contact information to the borrower if the
designated SPOC is reassigned, no longer employed by Servicer,
or otherwise not able to act as the primary point of contact.
Documentation
Servicer shall maintain procedures to ensure accuracy and timely updating of borrower’s account information. Servicer shall also maintain adequate documentation of borrower account information, which
may be in either electronic or paper format.