Consumer complaint received 2018-06-19
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Our Wells Fargo Home was paid in full on XX/XX/XXXX. I contacted Wells Fargo a few days later and asked about our escrow refund where I was then told it takes up to 15 days to refund an escrow account. After the 15 days I reached out to Wells Fargo to find out what was going on where I was transferred to XXXX. On XX/XX/XXXX I spoke with XXXX on the phone who asked to wait until the weekend to see if the check arrives before escalating the case, to which I agreed to do. At that time he also said he was sending a letter explaining the 15 day policy which I received on Friday XX/XX/XXXX at my PO Box on file. On XX/XX/XXXX I reached out again to XXXX via phone and informed him out escrow refund check was not received where he proceeded to ask if someone would be home at my address Wednesday XX/XX/XXXX to sign for a XXXX XXXX letter. I advised my adult son was home until XXXX and no one after that. He asked if one could be sent to our place of employment and I advised my husband and I both work in the field on various sites and are not able to receive anything. I asked if it could be sent to a local Wells Fargo branch in XXXX XXXX, California and he gave me an address which I confirmed was the one by my home. He was then going to check that it could be overnighted there XX/XX/XXXX and get back to me the following day. On Tuesday XX/XX/XXXX, I received a phone call from XXXX XXXX, ( XXXX,? ) not sure on the spelling as she did not spell her name out in her voicemail after our conversation, where she proceeded to tell me it is standard policy that they have to wait 15 days before a check can be deemed as lost. I told her that is not what the gentleman the day before told me. I then apologized for my frustration and told her I understand none of this is her fault but it is very frustrating when we pay our bills on time every month and if we had paid our mortgage 15 days late we would have been charged a late fee. So it would be nice if Wells Fargo reciprocates the same courtesy to us by paying us our escrow account refund on time. She then went on to repeat the same scripted response over and over about their policy and then told me it does not matter if you pay your bill on time or if you have financial trouble and pay late where I replied we have never been late where she then snapped for me to let her finish her response about you, not our customers in general, can pay on time or late and it does not matter because everyone still has to wait 15 days for their escrow refund. I replied I do not feel that this fair to customers or good business practices for that matter. I asked how is it if I have a savings account with that much money in it and I went down and closed it, that I could my money that same day, but an escrow account, an account used to save money for Home expenses, is different and I have to wait 15 days for the check to go out which XXXX and her both said went out on XX/XX/XXXX. But looking online I can see a copy of the check that was printed on XX/XX/XXXX, with an escrow statement attached printed XX/XX/XXXX. So how do you mail a check on XX/XX/XXXX when the escrow statement was not printed until the following day. Then it becomes my problem that the check does not make it to me in time and she then informs me some new case has to opened and it would be around the beginning of XX/XX/XXXX maybe sooner. At this point, their policy that is in place is so wrong on so many levels. If I as a consumer had as many excuses as Wells Fargo does telling me where my money is, I would have late fees and late payment entries on my credit report by them. And if they called looking for a payment and I told them the check is in the mail, it wouldnt change the fact that they still did not receive their money in the agreed upon time frame. Its an excuse, not a solution. This whole policy is unethical, unfair and a complete sham to the hard working consumer. I was waiting on that money to apply towards the escrow costs for our home purchase at our new location where our job has been transferred to, which is now putting me in a financial bind because Wells Fargo has questionable policies, a lack of respect for their customer and rude and inept employees when it comes to refunding a customers escrow account money. Just telling me the check is in the mail does not justify the length of time we have been waiting which will be 30 days tomorrow XX/XX/XXXX. XXXX XXXX was not only unhelpful but rude and condescending. I told her we are nervous about not receiving our money given Wells Fargos track record with customers finances where she told me it has nothing to do with this situation. I disagree, it has everything to do with the publics trust in their financial institution. What would be ideal is if they paid us the escrow money we are entitled to within 24 hours as that will be 30 days exactly we have been waiting since they received all the money in full they were entitled to on time by their stated due date. We would also like to see their escrow policy changed to reflect a more just and fair system in refunding customers in a expedited fashion the money they are legally entitled to. And XXXX XXXX XXXX needs to be counseled on her customer service skills as well as tact and professional behavior when assisting a customer that has done nothing wrong other than entrust Wells Fargo would refund all money we are legally entitled to within the 15 day period.

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