Consumer complaint received 2021-04-02
Company: WELLS FARGO & COMPANY
State: AZ
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Problem with the payoff process at the end of the loan

Complaint:
In addition to having issues applying for the XXXX XXXX XXXX loan with Wells Fargo, we are now having issues obtaining the link to apply for forgiveness. We began contacting Wells Fargo in XX/XX/XXXX about applying for forgiveness. 

XXXX received an email from WF that we would receive a link to apply for forgiveness. 
XXXX emailed WF regarding status of link XXXX Received this from WF-An email will be sent to you once the forgiveness application is available. To ensure applications for forgiveness can be processed in a timely manner, not all customers are receiving their email invitation to apply at the same time. The forgiveness application invitations are being sent in order of the earliest to latest loan origination date. Were working to make the forgiveness application available as soon as possible for each loan recipient. In the meantime, no payments are due until 10 months after your covered period, and you can apply for forgiveness all the way through to the maturity date of your loan. You will apply for forgiveness through your XXXX XXXX or XXXX XXXX Banking once you receive the invitation email. You can follow updates at our XXXX XXXX XXXX website that is kept current with latest information. As I learn more information, I will keep you posted. 
XXXX I asked what origination date was Wells currently processing and was advised they do not have that information. 
XX/XX/XXXX - emailed relationship XXXX requesting an update. 
XX/XX/XXXX WF response- The most recent information I received on Forgiveness is that Forgiveness applications were opened to small pilot groups beginning in the fall and intentions were for it to open on a larger scale in XXXX. Based on feedback of the process and the need to manage this on a high-volume scale, the rollout was delayed. The enhancements have been a priority and another small group will be ran through the process to ensure were ready to stand it up for a mass opening. The Forgiveness process has also been delayed due to the second opening of the PPP loan application. Resources have been allocated to support the high volume of second waive applications that are time sensitive in processing due to funds availability from the SBA. The emails to apply for Forgiveness should resume most likely in XXXX. 
XXXX WF response-I just found out that all Forgiveness applications will open in XXXX for everyone. You will no longer need an invitation to apply at that point. The process could take up to 150 days between Wells Faro and XXXX timeline together. The process could certainly be completed sooner. 
XXXX emailed WF requesting status of link. WF never responded. 
XXXX received and email from WF regarding another matter- So far ; Wells Fargo has been sending formal invitations for businesses to apply for forgiveness via email with a link to the application. This was done to manage the workflow of applications coming in. They would have been sent directly to the borrower who applied for the loan or provided through their XXXX XXXX Banking platform. I imagine this would have been to XXXX or XXXX email or on-line sign in. Going forward ; by the end of next week, the Forgiveness application will open up to everyone who hasnt been invited. There will be a banner link in on-line banking that will take you to the application. 
XXXX We were advised by a customer service rep that information provider was wrong. links are still only going out in order but no one can tell us when to expect it. Filed a complain with WF and are waiting for a call back.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation