Consumer complaint received 2020-06-24
Company: WELLS FARGO & COMPANY
State: NC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Ten years ago my husband and I refinanced our home through XXXX XXXX XXXX. XXXX XXXX XXXX  sold our loan to Wells Fargo Bank. When the loan was sold to Wells Fargo, late XXXX ( first payment was made in XX/XX/XXXX to Wells Fargo ) Wells Fargo Bank failed to record the assignment of the mortgage. We are currently refinancing with our state credit union. We were given a closing date, but can not close because Wells Fargo failed to record the assignment of the mortgage. I contacted Wells Fargo by phone on XX/XX/XXXX at XXXX XXXX  EST. I explained to the representative the issue and she acted as though it would be an easy fix. During that call I gave authorization for Wells Fargo to correspond with my loan officer, through the credit union, for 30 days, which was the max amount of time Wells Fargo would allow. My loan officer called once I got off the phone with Wells Fargo. I had provided my loan officer with the phone number, my loan number, and social security number, which is what Wells Fargo told me she would need. After she spoke with them for almost an hour, they informed her she would have to request they record the assignment in writing. Therefore, she did so by XXXX XXXX  EST that afternoon. On XX/XX/XXXX, my loan officer reached out to XXXX XXXX XXXX   to see if there was anything they could do to assist, and they responded saying that Wells Fargo would have to resolve that on their end. We hadn't heard anything almost a week later so I decided to call back on Wednesday, XX/XX/XXXX at XXXX XXXX  and spoke with XXXX from Wells Fargo. I again explained the issue we were having. She said she could see they got the request on XX/XX/XXXX ( even though the written request was faxed by my loan officer on XX/XX/XXXX ) and they would have a resolution by XX/XX/XXXX. I explained we were suppose to close on our loan on XX/XX/XXXX. At that point she said she was opening a case and sending it to the lien release department. I sent this information to my loan officer, which in turn contacted Wells Fargo again. She tried to explain she didn't need the loan released. She needed them to record the assignment of the mortgage, showing the mortgage was assigned to them and not XXXX XXXX. The following day, Thursday, XX/XX/XXXX, I called again and spoke to someone at XXXX XXXX. I explained why I was calling again and was transferred to someone named XXXX. XXXX told me that the response to my initial request was they would record the assignment once my loan had been paid in full. I tried to explain that once my loan was paid in full, they would no longer have assignment over my loan. The credit union would. I told her I expected a phone call back by XXXX XXXX  EST or I was calling back to file a complaint. At XXXX XXXX  on XX/XX/XXXX I had not heard back from Wells Fargo. I called them back and spoke with a lady named XXXX. I told her I was calling to file a complaint. She told me to hold and it may be a 2-3 minute wait time. While I was on hold, I received a phone call from Wells Fargo from a lady named XXXX. I again went through the explanation of the issue. She told me that once the loan officer sent the request for the payoff they would record the assignment of the mortgage. My loan officer had already requested the payoff and received the payoff letter on XX/XX/XXXX. I explained to XXXX that I had spoken with more than enough people at Wells Fargo and between my loan officer and me, we keep getting told something different every time we call. I told her I would be filing complaints within Wells Fargo and outside Wells Fargo. At that point she escalated my call to the executive office where I spoke to a lady named XXXX XXXX. Again, I gave all the of my information and was told my case would be submitted into the system. I was given a case owner name and phone number. As of Monday, XX/XX/XXXX, I had not received a call from Ms. XXXX so I called her. at XXXX XXXX  EST. From our conversation it was obvious she had not even looked at my case, even though Ms. XXXX XXXX told me she put in the notes my closing date was XX/XX/XXXX. Ms. XXXX told me she would send this case to a group to oversee the case. I reminded her of my closing date and told her I wanted frequent updates. As of today at XXXX XXXX, I had not received an update of any kind. I called Ms. XXXX back and got her voicemail. I asked her to return my call and told her if I didn't receive an update I would be filing a complaint with the FDIC, which eventually led me to the Consumer Financial Protection Bureau.

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