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Established ContributorThe vast majority of old late payments on my CR are from Wells Fargo Home Mortgage (WFHM). I need your advice regarding how best to appeal to have them removed.
We bought our house back in late 2007, just prior to the Great Recession. (I know what you're thinking, "Great timing!") Our original mortgage was an old Wachovia Bank "Pick-A-Payment" subprime loan that was acquired by WFHM in 2008 when Wachovia went belly-up. Those mortgages were ultimately ruled toxic and after several class-action lawsuits, WF ultimately transferred them to conventional ARM loans.
Like many people, we had trouble making our mortgage payments during the recession and were fortunate to keep our home. We ended up with many late payments between 2012 and 2015, including one 90-day late, ten 60-day lates, and twenty-two 30-day lates. At one point, a WF mortgage officer actually told us we needed to be at least 90-days late on our mortgage payments to demonstrate "hardship" and qualify for a HAMP modification (which never happened). Thankfully, those ugly days are long past but those late payments remain on my CR and drag down my scores.
All those late payments are on an old mortgage account that WF closed in 2015 when they transferred our loan to a new account. As part of my rebuild, I recently wrote GW letters directly to Wells Fargo executives, asking them to either remove the late payments or remove the old mortgage account entirely from my CR. I point out that we all learned a lot during the Great Recession, and I'm hoping that WF will be inclined to give me some GW due to the big black eye they received as a result of assuming all those toxic, subprime mortgages from other lenders.
This weekend, I sent my GW letters directly to the Email addresses of the WF Senior EVP, Consumer Banking; EVP, Home Lending; and SVP, Home Lending Retail. I'll keep you posted on my progress. Meawnwhile, any advice from those who have dealt with WFHM in the past would be very welcome! For example, should I send my letters by snail mail as well as Email?