Consumer complaint received 2020-07-15
Company: WELLS FARGO & COMPANY
State: IL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Primary residence home mortgage with Wells Fargo, concerning closing an escrow account. 

During the loan application discussion with the loan origination officer, I was offered a 0.125 % discount on the loan rate if I utilized an escrow account. ( I was not planning on establishing the escrow account as I had a 20 % down payment and did not require the account. ) When I asked the terms for the offer, the officer indicated the escrow account would need to be open for 12 months minimum at which point it could be closed through the process. 

10.5 months after closing ( ~Mid XX/XX/2020 ), I reached out to Wells Fargo to obtain the appropriate paperwork and start the escrow deletion process. The representative indicated I was not eligible until 24 months for the account closing. The representative said a letter would be mailed stating what she descibed, but to call back once recieved. 

I recieved a letter dated XX/XX/2020, indicating " One of the requirements to close your escrow account is that you must have closed on your mortgage at least 24 months ago. '' I called Wells Fargo and was told a case was going to be opened in 24 hours and someone would reach out. 

On XX/XX/XXXX ( after a few days ), I called Wells Fargo to understand why no one called me back. I escalated the call to the " executive response '' team where I spoke with XXXX ( XXXX XXXX ). XXXX explained she would look into this case and " personally '' reach out by XX/XX/2020 with an update/resolution. 

On XX/XX/2020 ( 4+weeks later ), I called XXXX and left a voicemail where her message indicated she would call me back within 24 hrs. 

On XX/XX/2020 ( after 24 hrs ), I called XXXX, who did not answer, and instead of leaving a voicemail again, I entered the option to speak to another representative. XXXX answered the phone. After providing my loan number and address, she reviewed the notes on the file from XXXX and others, but indicated that " a case was not open '' on the account. At this time, I asked to speak with her manager. I was connected to XXXX. 

I explained to XXXX the history as outlined above, and he appologized. When I asked for the case number he said it is not created yet and takes time to setup. I asked what the next steps were and he outlined 1 ) Create a case number, 2 ) Research the case, 3 ) Provide feedback internally. I again asked what the case number was and that I had already been told multiple times that a case " would be opened '' within XXX time period and how that has not happened to date. I asked for his phone number so I could follow back up in 24 hrs to ensure the case was opened. XXXX provided his direct line ( XXXX ) but he would not be able to answer until XX/XX/XXXX, as he was going on vacation. I asked for his manager who might be able to talk with me after 24 hours and he said he would not provide that information. The earliest I should call would be XX/XX/2020 at XXXX because they would need to setup a case and that takes time even if expedited, which this case would be. 
-- - At this point I believe Wells Fargo is purposefully avoiding opening a case in an effort to force me to fund an escrow account beyond the 12 month term that I agreed to. It is almost impossible to believe that they have accidentally not opend a case three times. 
By delaying this process, Wells Fargo can continue to benefit from my money in the escrow, which is not what I agreed to. I relied on Wells Fargo 's represenations and secured a loan based on those representations, and Wells Fargo now wants to change its terms after the fact. Wells Fargo is abusing me as a consumer and hoping to exploit this escrow account by not following their own process for invesitigating, which is why I need your help. Thank you for your support.

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 non-monetary relief