Consumer complaint received 2021-06-29
Company: WELLS FARGO & COMPANY
State: MD
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
When covid hit I missed 3 months of my mortgage payments. Specifically XXXX, XXXX and XXXX of XXXX. I started making my payments again in XXXX. I received communication from Wells Fargo informing me that I would have to meet with a notary to sign documents that would establish an FHA interest free loan attached to the end of my mortgage, called a Partial Claims Promissory Note. I met with their notary and signed the docs on XX/XX/XXXX of XXXX. In XXXX of XXXX I received a call from another notary asking me to sign the same docs, and I signed a XXXX set of docs on XXXX XXXX. HOWEVER, on XX/XX/XXXX of XXXX the money from the first set of documents hit my Wells Fargo account and was placed in " unapplied funds ''. I can see this on my Wells Fargo Customer account activity log, and I have been provided more that one copy of this account activity log from Wells Fargo. I have reached out to Wells Fargo countless times, and I have countless hours invested. At one point a XXXX XXXX will Wells Fargo told me she was getting it corrected, and ask me to give her 10 business days. I waited longer than 10 business days, and when I was finally able to reach XXXX XXXX again, she told me that my account had been corrected but unfortunately it was corrected on XX/XX/XXXX, and my loan was transferred on XX/XX/XXXX. To this day I continue to call Wells Fargo only for them to assign me a case number, ask for 10 business, days, and then send me a response stating what is going on with my account EXCEPT they never explain to me why there is {$13000.00} ( the amnt. of the FHA part. claims note ) sitting in " Unapplied Funds ''. This total is equal to 4 months of payments and I have only missed 3 months. Moreover, if this money was applied to my account I would not only be caught up, but 1 month ahead, as I only missed 3 payments and this amount is for 4 payments. As it stands today, Wells Fargo has transferred my mortgage to XXXX XXXX  XXXX, as it was transferred to them on XX/XX/XXXX. I've called XXXX who has told me that Wells Fargo needs to correct this and apply the funds, as it should have been done before the mortgage was transferred. When I call Wells Fargo they are telling me the mortgage has been transferred and there is nothing they can do. I believe Wells Fargo has this money, and they haven't applied it to my account, and they will not apply it to my account until they are forced to do so. In the meantime, I believe they are using this money, along with God Knows how many others in my same position, to earn interest for their own financial benefit. This has been going on since XXXX, and I have gotten absolutely nowhere with Wells Fargo, XXXX XXXX  XXXX or the FHA for that matter. I spent 4 hours and 37 minutes on the phone with Wells Fargo in one day. During that time I spoke with XXXX XXXX in the Home Preservation Team ( XXXX ext XXXX ), along with Wells Fargo Branch manager at the XXXX XXXX Branch - XXXX XXXX XXXX and both agreed that the money from this Partial Claims Promissory note was sitting in Unapplied Funds, and should have been applied to my mortgage account when it was received back on XX/XX/XXXX. I am begging you to please help. I am available at XXXX or email at XXXX. Thank you for your assistance.

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