Consumer complaint received 2023-10-13
Company: WELLS FARGO & COMPANY
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process
Sub-issue: Escrow, taxes, or insurance

Complaint:
Wells Fargo asserts that the foreclosure I sustained was routine. There are contradictions to this assertion. It is necessary to restate Wells Fargos assertion details which are quoted below.

My contradictions are as follows. 
Wells Fargos most recent letter dated XX/XX/XXXX included an escrow account disclosure statement as follows which I am seeing now for the first time : Each year, we review your escrow account to make sure the escrow portion of your scheduled mortgage payment covers your property taxes and/or insurance premiums. Increases or decreases in your annual taxes and/or insurance premiums may cause your mortgage payment amount to change. Here are the details of your most recent escrow account review. Please take a moment to look over your new escrow and mortgage payment details. Your loan is now delinquent. 

This contradiction is a comparison between the years XXXX and XXXX since your remark that I had a delinquent account would be validated if there was an increase in the escrow portion of my mortgage payment received by the XXXX XXXX XXXX XXXX XXXX XXXX in the Town of XXXX, XXXX County. As the attached receipts show, there is net decrease between XXXX and XXXX in the amount of {$270.00}. 

Wells Fargo has stated that XX/XX/XXXX was the initial date of the basis for their assertion that property taxes were increased. Wells Fargo did not provide me with any such notification in advance of XX/XX/XXXX and I never received any notification from the Receiver of Taxes that there was an increase. In Wells Fargos XX/XX/XXXX letter, Wells Fargo states that I was delinquent, but this information was never received by me from the main office or my personal bankers during the period in question from XX/XX/XXXX to XX/XX/XXXX. Please see the attachment of the business cards of my personal bankers. My personal bankers accepted my payment consistently in person. They never mentioned that there was any delinquency in my account. From that, it was conclusive to me that my payments were accurate and complete each time I made my monthly payments during the period in question. 

Accordingly, based on the receipts provided by the Receiver of Taxes which is now in your possession, any changes must be announced in advance by the Office of the Receiver of Taxes, The Treasurer of XXXX XXXX  and Wells Fargo. 
I was very surprised to receive a letter from Wells Fargo on XX/XX/XXXX which included as follows : Since those funds are less than the total amount to make a full contractual payment, were unable to apply these funds to your loan. For this reason, were returning the funds to you. Subsequently, Wells Fargo indicated that they would not accept any further mortgage payments from me and proceeded to a foreclosure process. 

Summarization : Wells Fargo never communicated to me that there was a delinquency which could have enabled me to provide contradictory evidence prior to the initiation to foreclosure. Wells Fargo, from both the main office and by my personal bankers, kept silent. Wells Fargo silence has been deafening. Accordingly, since in the Consent Order Section 28 fits into this particular situation, it is appropriate that Wells Fargo declares me victimized.

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