Consumer complaint received 2019-01-26
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I perched my home on XX/XX/XXXX with a second mortgage at approximately {$60000.00} at time of funding. I've incurred late charges over the years but haven't had an extended period of nonpayment. On XX/XX/XXXX, Wells Fargo ( WF ) assumed my loan with a reported balance of {$57000.00}. I disagree with the balance due as it implies that the paid down of the loan over a 12 years totals {$3100.00}. For this reason, I've requested a payment history from WF to address the accuracy of the reported balance. There are several other loan issues that I've tried to address with WF on numerous occasions but I've been unsuccessful. Following numerous request for a history of payments, WF provided a " Customer Account Activity Statement, dated XX/XX/XXXX, which notes account activity from XX/XX/XXXX to XX/XX/XXXX - an 8 year period. See attached Activity Sheets. The information provided is incomplete but clearly notes that Escrow and other fees were applied to my account on a regularly. To prevent further charges for insurance to my account by WF, I had my insurance provider, XXXX, provided WF copies of my insurance policies on XX/XX/XXXX confirming coverage from XX/XX/XXXX to XX/XX/XXXX. Copy enclosed. On XX/XX/XXXX, WF acknowledged my insurance coverage yet indicated their intent to purchase insurance on my behalf from the escrow account. There was no indication by WF for reimbursement of escrow fees and related charges. Shortly thereafter, I was issued a check in the amount of {$1500.00} for escrow overages. The date for this reimbursement was not identified. Despite proof of insurance coverage thru XX/XX/XXXX, WF continues to charge insurance to my account. See attached bank letter. Another concern is a fee in the amount of {$400.00} the day WF assumed my account on XX/XX/XXXX. The reason for the charge was not provided. The charge appears suspicious as it is highly questionable that WF was able to complete a comprehensive Financial Analysis of my account within the first 24 hours of assuming my loan to justify the charge. I became aware of the {$400.00} charge 7 years later when reviewing the Customer Account Activity Report dated XX/XX/XXXX. I was never given the opportunity to address or resolve this issue. It is unclear if the {$400.00} imposed to my account has resulted in accrued interest and applied to the principle. Without a complete history of my payments and fees applied to my account, I refuse to blindly accept WF 's reported balance. With a never ending increase of charges to my account, I am in need of your assistance. Therefore, I am formally requesting a detailed payment history from WF and all related charges to my account so that I can pursue an independent and comprehensive assessment of my account either by an independent Financial Consultant or Government entity. I am overwhelmed by the financial issues imposed onto my account and do not believe that I have been treated fairly and honestly by 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 non-monetary relief