Consumer complaint received 2016-06-02
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
I purchased my home on XXXX XXXX, XXXX of which Wells Fargo did the financing. There is a special tax assessment that was not incorporated into my loan when the impound account was set up. Once their escrow account department ran the analysis report it was assessed that I had a shortage of $ XXXX which in review the majority was for the special tax assessment from the supplemental tax bill that was received. I called the office and spoke with a lady, she advised I had XXXX options to remediate either pay the balance in full or have it paid monthly through a 60 month period. My original payment was at {$1500.00}. and adding that shortage brought my payment to {$1600.00} of which I was forced to pay since I did not have the money to pay the amount in full. The following year there was another shortage of which I was provided the same information either pay in full or have it extended through 60 months. At that point my payment would be close to {$1900.00} per month which I would not be able to afford. I called them and they advised that the only way to remediate was to modify my loan so that 's what I ended up doing. In that interim this matter was also escalated to the office of the President and they issued a credit of {$4000.00} into my account, however a shortage still remained and my payment would still be $ XXXX, so I was forced to continue the load modification. In XXXX of XXXX my loan was modified through Wells Fargo as a HAMP loan and frustratingly again I was provided an analysis report in XXXX of XXXX stating I was short {$2000.00}. So once again I contacted their escrow account office and requested to speak to a supervisor which I spoke with XXXX XXXX ( XXXX ). I explained the situation from what happened originally and where I am today and she advised that this should not have been applied as a shortage and instead should 've been applied as a positive and escalated it to the Office of the President on XXXX XXXX, XXXX. I was assigned to an Executive Resolution Specialist in the Customer Care and Recovery Group XXXX XXXX XXXX extension XXXX. She advised that she was my contact for this complaint and that she would try to resolve this matter as quickly as possible. I had also advised her that the new payment if extended to 60 months in the amount of {$1500.00} would become effective XXXX XXXX, XXXX. Disappointingly, this matter was not resolved before XXXX XXXX, XXXX. My last conversation with XXXX XXXX XXXX XXXX, XXXX was that she should have a response from management within 2 weeks. I expressed my concern over the new payment at that time, that the new payment had already come into affect and that I did not understand why this was not placed on hold until this was resolved. She advised that once the credit of {$2000.00} was granted, the payment would be adjusted back to its original state in the amount of {$1500.00}. I asked her who would take care of all that and she stated she would take care of all that. She advised that this complaint resolution would be extended to XXXX XXXX, XXXX and should be resolved before then. It is now XXXX XXXX, XXXX and to this date nothing has been resolved. I contacted her again which she was not available to I spoke with XXXX which advised that he did n't see any updated notes in the system but that there could very well be an email that she was sent and has n't been noted and advised that she would call me when she was next available. I advised him that this has now approached 3 month mark, still nothing resolved and that I would have to seek legal counsel if nothing would be resolved soon as my patience was running thin.

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 monetary relief