Consumer complaint received 2020-03-20
Company: WELLS FARGO & COMPANY
State: AK
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
In a previous complaint, # XXXX Wells Fargo provided the following information as a resolution. In their resolution, they have been misleading, danced around using direct language, stated opinions not facts, and lied about when they pay my taxes from escrow. The executive office offers no way to escalate issues beyond them and they claim to be the final resolution with no way to appeal. The following is their response. 

Thank you for speaking with me about your concerns with the payment for property taxes, the escrow account, the review for workout options, request to transfer the servicing of the account, your customer service experience and your request for compensation. I appreciate the opportunity to help you, we`ve reviewed these matters and are providing you with details. We found that a third installment for the Downtown Improvement District ( DID ) Assessment in the amount of {$3300.00} was included in the amount we were collecting for your property taxes ; however, we confirmed you are not responsible for paying the assessment, and we removed the installment from the escrow account. An escrow review was completed on XX/XX/2020. We have confirmed property taxes are due in the month of XXXX and are considered delinquent on XXXX XXXX the next due date is XXXX, and the taxes are considered delinquent on XX/XX/XXXX. We found no indication of predatory practices or discrimination. We found that a Wells Fargo representative advised customer that VA required all VA loans to have an escrow account. however, we can confirm this is inaccurate, as this is a Wells Fargo requirement, not a VA requirement. When the customer contacted Wells Fargo and expressed concern about the monthly payment increasing, a review for workout options was initiated ; however, once we were advised you were not interested, the review was closed. We are unable to fulfill the request to transfer the servicing of the account. We respectfully decline the request for compensation. Here are important account details we`d like you to know. The next payment is due on XX/XX/2020. I`m glad we spoke about your concerns. I appreciate the opportunity to help you, and I`ve attached a copy of our response letter. 

They refused to answer the question of when they actually pay my taxes. Wells Fargo has identified a shortage still in my escrow account that was a non-issue with my previous carrier because they are requesting the money a month sooner putting me out of pocket approximately {$700.00} dollars. During several phone transactions, they claim to pay the taxes in XXXX even when confronted with the county tax assessor financial log I have provided in this complaint reflecting payment wires made on the last day before delinquent. 

Their resolution to not audit escrow accounts is unacceptable. If I did not take action I would have been paying them an extra {$300.00} a month in mortgage costs. Furthermore the {$3000.00} DID payment is not even the real amount of the tax per the tax assessor office but a replica of my bi-annual tax amount thrown into escrow upon their initial attempt to raise my escrow fees. 

Saying it is not predatory does not make it predatory. Misinforming people of VA loan requirements during the loan application process is exploitative of uninformed consumers and veterans this information has also been provided to me on several occasions from several different people. This event is not isolated.

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