Consumer complaint received 2018-12-27
Company: WELLS FARGO & COMPANY
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
This is not a letter I thought I would have to write. It is not a pretty story. It is at best a story of corporate incompetence and failure to be accountable. It is at worst a XXXX tale in the spirit of XXXX. It is either way a story about corporate callousness. It is a Wells Fargo disgrace. There are neither twinkling lights nor glimmers of miracles and faith. 

It goes like this. A close relative of mine became behind on his mortgage payment. ( Seven months I admit - not a good thing ). When relatives of his became aware of the situation I volunteered to become point man with Wells Fargo to try and resolve the situation. 

I first spoke to the Wells Fargo Foreclosure Department on XX/XX/XXXX. My intent was to join together with two other family members and together to pay off the Foreclosure Statement of approximately {$18000.00}. I was advised by Wells Fargo to order a Reinstatement Quote, which I did. The quote came and I was told that it would be good until XX/XX/XXXX. 

On XX/XX/XXXX, I advised the Wells Fargo representative that three payments from three different individuals and three different banks would be wired to their home office in XXXX XXXX, Iowa. They would be sent on the same day and that cumulatively the wire would fulfill the obligation to pay off the Foreclosure Statement. On XX/XX/XXXX, three wires were sent from three different banks each one 1/3rd of the payment. One of the 3 wires was misdirected and did not get to the right department at Wells Fargo on XX/XX/XXXX. When I called to find out if the funds had been received, we attempted to send the 1/3rd of the moneys not received a second time. Again Wells Fargo claims they did not receive them appropriately. 

On XX/XX/XXXX a third wire was sent and Wells Fargo received the money. Unfortunately the money was not transferred to the proper department for several days after and by that time they refused to apply the money to the Foreclosure Statement that was due XX/XX/XXXX. They issued a new statement and assessed the account penalties and interest. 

In the meanwhile, I made numerous phone calls to Wells Fargo reminding them that they had 2/3rds of the money for several weeks - their response was to put me on hold ; threaten to return the money to our individual banks and proceed with foreclosure measures. 

On XX/XX/XXXX, I finally got through to their home Mortgage Executive Office and was given a case number. I was told that I would receive a phone call from my case manager within 24 hours. My simple request to them was that they honor the XX/XX/XXXX quote. It was the day after XXXX that they told me they could not do that and we would have to pay the interest and penalties even though they readily admit that they had the required amount of monies to pay off the foreclosure statement and had received those amounts before the due date - at least twice. 

I wonder at the ethics of Wells Fargo. I wonder about the corporate culture they have created. Wells Fargo had all of the money in its hands before their imposed deadline but didnt have the wherewithal to direct it to the right department. This was true not once, but twice and yet after pleading for them to stand up and be accountable, and to do the right thing for a family trying to save the home of a loved one, I am forced to believe that Wells Fargo is a place where good deeds go punished and people who are trying to do what is best for their relatives by paying off their loan are thrown into a system with no heart and no guts to admit that their corporate bureaucracy was part of the problem. 

I guess it is more important to assess more penalties and interest even though Wells Fargo knew that the monies to pay off the foreclosure statement were in their system. I was amazed that there was no room in their hearts for either accountability, understanding or for forgiveness. It is not as if anyone of the three of us were trying to defraud or cheat them of their monies. All that could come to mind was no room in the manger, no room at Wells Fargo for compassion, caring or concern for their clients. 

I am saddened especially at this season. I am embarrassed that Wells Fargo is my bank. ( But not for long. ) I am disappointed to put it mildly at their inability to find what I believe would have been a win/win solution. Shame on Wells Fargo!

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