Consumer complaint received 2018-09-27
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
XX/XX/XXXX Customer is XXXX years old. 

- XX/XX/XXXX - Customer took out a Home Equity Loan with XXXX now Wells Fargo ( WF ) -  XX/XX/XXXX- XX/XX/XXXX - WF initiated Lender Placed Insurance ( LPI ) with XXXX XXXX XXXX XXXX ( XXXX ) / XXXX . 

- XX/XX/XXXX - Customer filed claim for leaking roof resulting in damaged walls and ceiling of customer 's home XX/XX/XXXX - XXXX issued a settlement check ( {$2500.00} ) payable to Wells Fargo and Customer jointly for the repair of the walls and ceilings. ( Insurance conclusion - " Cause of Loss - Windstorm ''. 

- {$0.00} for the roof - ( Insurance conclusion : " Inspection of the roof did not reveal wind damage ... however roof is worn, aged and leaking. '' XX/XX/XXXX - To secure home from further damage, after constant hassle with XXXX  / ( XXXX  ) to pay for roof repair, customer repaired the roof at a cost of {$12000.00}. 

- WF requested customer to endorse the {$2500.00} check and return it to WF and customer complied with their request. Check was never returned to customer. 

Since XX/XX/XXXX, customer pursued WF constantly regarding the {$2500.00} check, which customer realized was never returned to customer. Several inquiries to WF regarding this check resulted in responses such as : No activity on this check, conflicting information on the screen ; check was put on hold, check was outdated, check was in a Restricted Escrow Acct., new check was sent out to customer. 

- Customer only signed the first check payable jointly to XXXX and the Customer, which was sent out by XXXX. 
- XXXX sent customer a copy of a WF check with customer 's signature on the back. 
- Customer wants to know who signed the second check, which according to XXXX, was made payable only to the Customer. 
- As of today, customer has not received either of the checks. 
- Customer recently reopened XXXX claim for the roof, but it was again denied. 

- The XXXX clearly states that " The costs of the insurance will be added to the Principal and will accrue interest at the Note XXXX XXXX. '' XX/XX/XXXX - Customer made a complete payment to Principal and asked for a Payoff amount. 
- Instead of adhering to the original agreement, XXXX created an entirely new account called " XXXX XXXX XXXX '', unknown to the Customer, and concluded, according to XXXX of its employees that it was in the best interest of the customer. 

- Payments to the XXXX were accumulating as follows and added to the payoff : Yr XXXX - {$3200.00} ; XXXX XXXX - {$3200.00} ; XXXX XXXX - {$3100.00} Yr. XXXX - {$3000.00} ; XXXX XXXX - {$3300.00} - No correspondence to inform a XXXX XXXX XXXX customer that these payments were escalating year after year after year - No Statement throughout the life of the loan - No Escrow to allow customer to keep up with the insurance on a yearly basis - No form of communication to keep abreast of the account XX/XX/XXXX Customer paid off a final {$10.00} towards the Principal on the Home Equity Loan. The Principal and Interest on the XXXX XXXX XXXX are paid in full. 
- WF removed the {$10.00} from the Principal because of the outstanding XXXX, a situation which they created for a XXXX XXXX XXXX customer.

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