Consumer complaint received 2017-04-06
Company: WELLS FARGO & COMPANY
State: MA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
I have had a mortgage with Wells Fargo since XXXX. Paid timely with no problems. I own stock in XXXX which I tried to sell and have been continuously trying to sell for the past two years without success. The agent for XXXX is Wells Fargo XXXX. After a daughter requested the forms from WFSS to sell the stock since it was purchased under the UGMA and she was turned down saying her mother was the only one who could request the forms and sell the stock. I requested the forms, received them via email, filled them out including a Medallion Certificate properly filled in by a bank. I sent the forms to WFSS via overnight mail - that was XX/XX/XXXX. Hearing nothing from WFSS for over two weeks I called. They could not find the forms and kept me on the telephone for 45 minutes as they tried to locate the forms I sent to them. They finally found something which said the forms were returned to me because they were not complete. Several days later I received the returned forms. I called WFSS to ask what was wrong - they said pages were missing. I asked for emailed forms to fill out What they sent was identical to the first forms they sent and all were filled out properly. Having been a stock broker years ago I had some knowledge of these forms. I sent them back to WFSS. Because I was selling the stock because I needed the money by refusing to sell the stock Wells Fargo put my mortgage to them in jeopardy and I have had to pay {$250.00} as a late fee for several months now. In spite of many calls and filing with other agencies nothing has happened. I filed with the SEC against Wells Fargo. They lied to the SEC saying I needed to fill out the Medallion form and had not done that. They received the Medallion form from me filled in by a bank. I filed against them with the Massachusetts Attorney Generals Office and FINRA. To both of these groups Wells Fargo lied about the reason they did not sell the stock. In the meantime, they continued to collect the $ 254/month late fee because of the bad situation they put me in. They had a mortgage person investigate this after I complained to them - they sent me a letter giving me the name of the mortgage person and telling me she was going to investigate. After months, she called to say she could not investigate because it was against bank policy for a mortgage person to investigate WFSS. I received a letter from a Wells Fargo attorney saying the same thing. Those letters and contacts contradicted the letter I received from them saying this mortgage employee was asked to investigate this by Wells Fargo. That has been the kind of thing happening with the attempted sale of this stock. I called XXXX and they said they had no say in this and no control over it because WFSS was their agent and it was in their hands. I have a complaint code XXXX gave me when I called to make the complaint. They simply called back and gave me this investigation code and then did nothing claiming their hands were tied. Hope you can help.

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