Consumer complaint received 2021-03-23
Company: WELLS FARGO & COMPANY
State: MD
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
To whom it may concern, I am contacting you after being unsuccessful in resolving a late payment reported on my credit report for a home mortgage with Wells Fargo Bank. The following is the letter I sent to Wells Fargo dated XX/XX/XXXX, in which I explained the situation and how they failed to process a payment, notify me and take responsibility. Wells Fargo has since responded to my letter and declined to correct the issue. 

Mortgage Account XXXX XX/XX/XXXX To whom it may concern : We are contacting you regarding the 30-day late payment as reported to credit bureaus for Mortgage Account XXXX for the month of XX/XX/XXXX. We take our financial commitments very seriously and value our banking relationship with Wells Fargo. When we learned that our new mortgage loan was going to be managed by Wells Fargo, we were satisfied and optimistic as we have had a positive experience in the past and know of your strong reputation and excellent customer service. This letter will detail our attempt to set-up automatic payments for this new mortgage account, our travel plans during the days the payment was due, the lack of communication and notifications from Wells Fargo, our impeccable credit history with zero late payments ever, and our strong financial ability to pay this account at the time the payment was due. 

New Mortgage Account and Payment history : Once this new mortgage ( 3 months old ) was established, we immediately made the first payment due on XX/XX/XXXX in the amount of {$2200.00} as the account records show. In addition to this payment, we made an additional principal payment on XX/XX/XXXX in the amount of {$420.00}. Finally and more importantly, on this same date we set-up recurring automatic payments for this account as we have done for all of our open accounts. 

On XX/XX/XXXX, we received a phone call from Wells Fargo indicating that our mortgage account was past due. We were shocked and surprised to the extent that we did not provide our banking information to the agent thinking it was a scam, especially since we were convinced recurring automatic payments were set-up and the account was in good standing. Immediately after ending the call, we logged on to our account through the mobile app and made the two payments due. 

Attempt to Set-up Recurring Automatic Payments for the account : The attached web browsing history of our personal computer shows our attempt to set-up automatic payments for the account on XX/XX/XXXX. In addition of making a one-time principal payment for this mortgage, we also spent time on your website completing the Automatic Recurring payment draft for this loan. Either due to a lack of processing by Wells Fargo or a technical error, and based on what we know today, unfortunately, the automatic recurring payment request was never successfully processed. 

Lack of Communications and Notifications : It was not until XX/XX/XXXX when we were first notified and contacted by Wells Fargo regarding the status of the account. While we take all responsibility for reviewing statements online as this account is set-up for online only delivery of statements, there was no courtesy call or letter sent to us. The only written communication from Wells Fargo was in the form of a letter dated, XX/XX/XXXX and received many days later, and during the timeframe of our travel plans as detailed below. 

Personal Travel during timeframe of payment due : The attached hotel stay history and car rental reservation information demonstrate that we were on personal travel from XX/XX/XXXX through XX/XX/XXXX. During these dates, we did not receive any correspondence or notifications for this account, and did not monitor our accounts as we normally do. 

Financial Ability to Pay at the time the payment was due : At the time the payment was due on XX/XX/XXXX, we had and continue to have the financial ability and means to make payments. The attached XXXX  XXXX XXXX banking statement for our primary Checking Account, which is also the account currently used for recurring automatic payments for this mortgage loan, shows our financial ability to make the payment at the time it was due. This account had a balance of {$64000.00} at the end date of the statement ( XX/XX/XXXX ). 

Impeccable Credit History Never missed a Payment ever : We have an impeccable credit history for all of our accounts for the entirety of our credit history. We have never made a late payment and we are extremely proud of that. This includes a mortgage account with Wells Fargo for our previous primary home. The attached credit report demonstrates 100 % on-time payment history with Wells Fargo in the past XXXX Account # XXXX XXXX. 

We take this matter and our financial commitments very seriously, and we are very proud about our impeccable credit history. In hindsight, we wish we would have verified that the automatic payment request was processed correctly as requested. Your records will show that we have now successfully established automatic recurring payments for this account and that payments will continue to be made on time. Due to the error in processing our recurring automatic payment request for this new mortgage account, our impeccable payment history for previous Wells Fargo mortgages and other creditors, the lack of communication regarding this account, and our travel plans that coincided with the payment dates, we respectfully request that the late payment is removed from our credit history and corrected with all credit bureaus. We had a positive banking experience with Wells Fargo in the past and wish to continue in business with you in the future. 

Sincerely, XXXX XXXX XXXX XXXX XXXX Additional supporting documentation is attached. Thank you for your time and attention to resolve this matter with Wells Fargo Bank on my behalf. 

Respectfully, XXXX XXXX

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