Consumer complaint received 2022-05-20
Company: WELLS FARGO & COMPANY
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Wells Fargo XXXX XXXX XXXX Tax Issue Summary XXXX  refinanced our home at XXXX with XXXX  XXXX XXXX in XX/XX/2022. 

I had raised a concern to both the previous lender, Wells Fargo ( XXXX ) and new lender, XXXX  XXXX XXXX ( XXXX  ) about the risk of both banks paying XXXX XXXX XXXXXXXX redundant/duplicate property tax payments, which were due late XXXX. The WF funds would be coming out of my escrow account ; the XXXX  funds would be coming out of my closing costs. 

I was advised by both banks that ( A ) there was unlikely to be a duplicate payment, because if a 1st payment was already recorded, then XXXX would not process the 2nd payment ; ( B ) if by any chance there was an over-payment, then XXXX would refund the later payment to the pertinent institution. 

Unfortunately, both lenders submitted payments and both payments were processed by the XXXX XXXX XXXXXXXX - Payments of over {$8200.00} each. Wells Fargo advised me during a discussion on Thursday XX/XX/XXXX, that their payment was made for a different parcel - They ( Wells Fargo ) HAD MADE AN ERROR in identifying the parcel when making the payment. Because of Wells Fargos error, the protections against redundant payments inherently failed. 

I believe this is a clear indication that funds in my escrow account were mismanaged by Wells Fargo. Im seeking to recoup the $ XXXX that Wells Fargo submitted to the XXXX XXXX XXXXXXXX XXXX out of my mortgage escrow account, as well as any interests and other monies I may be entitled to. 

I have tried working with Wells Fargo for over a month to prevent and/or resolve this, with little progress or clarity - and no definitive path towards resolution. 

Note that Wells Fargo refused to confirm the dates and conversations below, Dates are my best approximation. 

XX/XX/2022 Spoke to a Wells Fargo representative ( name? ) about XXXX refinance and potential issue of duplicate property tax payments Wells Fargo representative advised that I could request they put a stop towards them making the payment. 
I verbally made that request while on the telephone I asked Does this mean that youre going to try to stop the payment, or is this a certain thing? ( Paraphrased ) WF rep ( very confidently ) acknowledged that they would certainly not make the tax payment XX/XX/XXXX XXXX Refinance signed ( with XXXX legal agent XXXX ) Also discussed that if both banks pay the XXXX town property taxes, the first payment received would be applied, and the second one received would be returned. 

XX/XX/XXXX Wells Fargo submitted payment of {$8200.00} from escrow to town of XXXX for property tax XX/XX/XXXX XXXX  refinance closed XX/XX/XXXX I logged onto WF portal - Realized that tax payment was submitted Spoke with WF representative.

Call with WF representative ( XXXX XXXX XXXX XXXX XXXX ) Advised that a work order was opened, so WF tax team could research with XXXX XXXX if tax payment was received / applied. 
WF later advised that the work order was not opened until XX/XX/XXXX. 
WF rep reiterated the 1st/2nd payment received statement Was advised that a resolution would be expected within 5-10 days Was advised that {$8200.00} would probably be included in the ~XX/XX/XXXX escrow refund - Even if WF had not received the funds back from XXXX by that time Was advised that this WF rep would call me back, and would be my point of contact on this issue. I received no call back or response to my later voicemail. 

XX/XX/XXXX Spoke with WF representative ( XXXX? ), who advised that payment was not received by XXXX. 
No further info on progress or next steps WF were taking ( I believe this is when the first work order was actually opened ) XX/XX/XXXX Spoke with WF rep ( name? ), who first advised me that the initial work order was not opened until the previous Friday, XX/XX/XXXX XX/XX/XXXX Spoke with WF representative XXXX XXXX WF advised that new work order was opened on XX/XX/XXXX - There being no resolution to the previous work order XXXX acknowledges that there are notes in my file that indicate I had a discussion regarding stopping the tax payment on XX/XX/XXXX. I confirm, and reiterate the conversation, the level of confidence the WF rep had at the time - that the tax payment would not be made XXXX advises that requesting a stop to a tax payment is relatively standard, but requires much more than a conversation. He acknowledges that he doesnt understand why the WF rep did not initiate the formal process with me on XX/XX/XXXX. 

I asked to speak to a point of escalation. I was connected with WF representative XXXX ( last name? ) - XXXX x XXXX XXXX could not provide any indication if/how he was a true point of escalation. 
XXXX advised that he would be my point of contact, and asked if I could wait until Tuesday XX/XX/XXXX and was certain to call and provide me an update. I received no call back or response to my later voicemail. 


XX/XX/XXXX No updates or responses from Wells Fargo since XX/XX/XXXX Logging to my online WF account, I see that WF have issued me a check for {$1700.00} I do receive the check later in the week, via 1st class postal mail XX/XX/XXXX Spoke with WF representative XXXX ( last name? ) - XXXX x XXXX She advises that she will be my point of contact going forward. She did give me 1 return call later that day, but has failed to contact or respond to my voice mails since. 
XXXX advises that my payment may have been part of a bulk payment to the town - A combined payment for multiple properties equalling ~ $ XXXX in tax payments to XXXX. 
During the first phone call, XXXX advises that WF would most likely provide a base advance - their mechanism for refunding me the escrow money owed, before WF are able to recoup the funds from XXXX themselves. XXXX include a 2-3 internal approval process and time for mailing ( 1st class postal? ) During second conversation, XXXX advises that WF have connected with the XXXX tax department throughout the day. 
XXXX advised that WF did make a payment, but it was applied to the wrong parcel ( exact term used by WF ) XXXX advised that WF needed to wait for a specific individual at the XXXX XXXX department return from vacation the following week to reconcile. 
XXXX continued to advise that Id likely be receiving a base advance XXXX advised that she would be my point of contact ( at this point, she was the only WF rep to have given me any follow-up ). I received no call back or response to my later voicemail. 

XX/XX/XXXX Continued to reach out to XXXX, my previous point of contact ( left voicemail ). No response. 


XX/XX/XXXX Continued to reach out to XXXX, my previous point of contact ( left voicemail ). No response. 

Reached WF representative XXXX XXXX progress indicated. Internal notes merely indicated WF were reaching out to XXXX tax authority Provided a case # XXXX She advised she was email XXXX to contact me XX/XX/2022 Continued to reach out to XXXX, my previous point of contact ( left voicemail ). No response. 
Spoke with WF representative XXXX, who refused to share conversation history with me ( dates, representative name, summary of discussion ) Was transferred to a Executive Office representative XXXX XXXX, who provided me with a complaint # XXXX And advised me somebody would contact me within 24-48 hours And advised a target resolution of 1-10 business days following Also provided me a telephone number of XXXX I asked if this was the best corse of escalation, why did it take so long. No valid response I asked how this team was different than any other persons I previously work with - No valid response Called XXXX XXXX XXXXXXXX tax department. They had no record of WF contacting them, that they were able to share.

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