Consumer complaint received 2018-06-12
Company: WELLS FARGO & COMPANY
State: VA
Product: Mortgage
Sub-product: VA mortgage
Issue: Closing on a mortgage

Complaint:
REF COMPLAINT # XXXX 1. We still have no resolution after 26 days after our original request and 31 days since our original closing date. We have had dialog with Wells Fargo Customer Relations ( XXXX XXXX XXXX ) on ( 3 ) occasions out of ( 12 ) contact attempts ( see timeline below ), but have had no response to our last ( 5 )  attempts in leaving voice mails. 

XXXX Contact with XXXX XXXX Goal to provide release by XXXX, will engage with Lien Release Department to produce Certificate of Satisfaction ( COS ), currently doing research for original COS/Deed of Trust ( DOT ) to expedite process. XXXX XXXX available XXXX CST. 
XXXX Contacted XXXX XXXX 100 % committed to get lien released by XXXX, expecting an update within the hour from Lien Release Department. 
XXXX No response from XXXX XXXX called left voice mail for call back. 
XXXX Received update from XXXX XXXX Will not release a COS, but working with legal for a Letter of Indemnity ( LOI ) will follow up on Tuesday, XXXX. 
XXXX Received no response from XXXX XXXX after ( 3 ) attempts leaving voice mail. 
XXXX ( 5 ) attempts with no contact. 

2. On XXXX, contacted by our Real Estate Agent that we had lost our buyer who submitted a Contract Release Agreement due to hardship. We now have incurred personal and monetary damages ( See Attached Spreadsheet ) resulting from Wells Fargos incompetence and non-compliance with VA 55-66 in not producing either a COS or LOI, in which we must now pursue legal action based on the following facts : 3.  Research documents show the original XXXX XXXX XXXX  ( {$64000.00} ), refinanced by XXXX XXXX XXXXe ( {$65000.00} ) and assigned to XXXXXXXX XXXX , XXXX, in XXXX was then acquired by Wells Fargo. Acquired Wells Fargo lien ( {$50000.00} ) was then paid off through XXXX XXXX XXXX refinance ( {$84000.00} ) as evidenced on HUD-1 Statement ( Item 1502 ) dated XXXX ( Attached ), XXXX  then  acquired by Wells Fargo in XXXX. Chain of succession shows Wells Fargo in accordance with VA 55-66.3 inherited fiduciary ownership of this mortgage directly or through acquisition in excess of 20 years since the 2nd transaction which satisfied original lien. Therefore, Wells Fargo has ownership of documents showing payoff of original mortgage.

4. Property has little risk of any potential lien claims being that XXXX XXXX XXXX XXXX, having been the original home owner evidenced by multiple title insurance companies in accordance with VA 38.2-4601, released the liens through each of the ( 4 ) Deed of Trust ( DOT ) transfers and issued policies of title insurance as defined in 38.2-4601.1, for real estate transactions wherein the loan secured by the lien was satisfied by payment made by the title insurance agency or agent ( Last 3 DOT transfers being owned by Wells Fargo ).

**We are experiencing the " Old '' Wells Fargo and not getting the customer service to re-establish trust and confidence in the " New '' Wells Fargo per their recent  commercials.

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