Consumer complaint received 2023-06-07
Company: WELLS FARGO & COMPANY
State: OK
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
To Whom It May Concern, My XXXX, XXXX XXXX has owned property located at XXXX  XXXX, XXXX, OK XXXX since XX/XX/XXXX. After being diagnosed with XXXX  XXXX at the beginning of XX/XX/XXXX, a Quit Claim Deed transferring ownership of the subject property to me and my XXXX siblings was executed and recorded with XXXX XXXX on XX/XX/XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. After my XXXX XXXX XXXX, my sister, XXXX XXXX submitted the Death Certificate, her ID and a copy of the recorded QC Deed to Wells Fargo for validation and confirmation of her successor in interest status. 
At this time, the loan was delinquent as my XXXX  had been on a COVID forbearance and was past due for over 6 months worth of payments and needed to be brought current, which we did. 

Subsequently, the existing homeowners insurance policy with XXXX was to expire in XX/XX/XXXX, however, Wells Fargo processed an HOI renewal with my XXXX XXXX as the insured at a cost of approx. {$3600.00}. This is a substantial issue to us as we manage the property and neither me nor my siblings have any apparent rights under the XXXX XXXX policy that is currently in place. Along with the documentation previously sent by my sister and most recently by me, sufficient SII documents have been sent to WF 's designated " Life Events '' department AND to the insurance vendor address to process my request to update the HOI policy. All documents submitted on XX/XX/XXXX ( with the exception of my ID ) for MY SII confirmation in an effort to speed the process up should already be on file and readily available for WF review as again, everything else was provided by my sister more than a year ago. Wells Fargo has sufficient documentation to honor my request in accordance with Federal regulations that require a servicer to have sufficient policies and procedures in place to identify successors in interest in a reasonable and timely manner ( RESPA 38 ( b ) ( 1 ) ( vi ).

I have called Wells Fargo several times regarding the NEW HOI policy, since submitting for payment on XX/XX/XXXX to no avail. Every time I've called, I'm met with confusion ( or at least it seems ) and obstinance. I have been told it will take 25 business days to have a case assigned to someone to review the SII docs, there is no way to escalate. Documents that have been in WF possession for over a year! I understand that servicers have timeframes in place to maintain continuity HOWEVER, in this instance, I do not feel that the approach WF has taken is considered fair or REASONABLE given the fact that they are delaying an essential and highly regulated aspect of a mortgage loan servicers duty. WF makes communication very difficult and time consuming and the rigidity I have experienced, specifically concerning SII confirmation is frustrating. I have an escrow related issue and WF 's communications are neither clear nor conspicuous. I have gotten several emails advising that the policy has not been accepted to refer to the declaration page, but nothing further as to why the policy continues to be rejected. 

Wells Fargo seems intent on doing nothing to serve my family as the validated successors in interest, only having concerns with receipt of payments that include amounts for a bloated insurance policy, the cost of which creates a financial burden on our family, as we try to do the right thing. We implore Wells Fargo or the appropriate regulating agency to assist us in carrying forward and to stop the unnecessary and damaging delays. 
Sincerely, XXXX 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