Consumer complaint received 2023-07-31
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
There are several problems with Wells Fargo Bank ( WFB ), and I will state each as clearly as possible. 

XXXXWFB opened an escrow account in XXXX which I did not want and asked to have it closed many times, which they have not done. 

I pay my mortgage by auto pay so it is never late. With homeowners insurance, I was originally told that it didn't matter either way if I pay my own home insurance or if it goes in to my home loan. 

Seemed innocent enough. 

However, with WFB making home owners insurance payments, they over charge the home-owner, billing and taking thousands and thousands more than my insurance policy really costs. 

When I learned of this in XX/XX/XXXX, I called to get answers, and was promised answers along with the FULL escrow transcript requested. None of these things have happened. But month after month, WFB takes what they will from my auto payment method for my home loan.

To be clear, this has gone one for 7 months with Zero resolve. WFB has sent letters describing in long paragraphs the number, fees and charges they have made, and none of this answers my questions : *Why is there a " shortage '' if I'm already overpaying? 
*We see a surplus, not a shortage. 

My Home insurance is {$12000.00}. 
WFB took {$19000.00} in XXXX Surplus I paid {$6600.00} XXXX XXXX XXXX stated there was a " shortage '' of {$2700.00} XXXX XXXX WFB stated there was a " shortage '' of {$2900.00} This begs the question, why for the past 3 years at least is WFB claiming a shortage? 
Why does this go on and on, with no resolve, and how can we clean this up for once and for all? 

I have called WFB and spoken with 3 main departments ( complaints, executive office, & escalation team ) weekly since XX/XX/XXXX,. 
My complaint has been assigned 3 different case numbers ; the most current case # XXXX XXXX XXXX XXXX XXXX. 

None of these folks, WFB employees, have emails, nor can be contacted by email, nor can send an email, so there is no paper trail for the dozens and dozens and dozens of phone calls. Here are the names of a few WFB employees whom I have spoken with about this situation, some only seem to have first names : XXXX, XXXX XXXX, XXXX, XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX XXXX, XXXX. Etc. All very nice. Nothing has been resolved... for 7 months! Many of these folks are " away from their desk '', or " will call you back soon '' or are on vacation, or their manager will call back, or the team leader will call back, or no one is in the office today, or they left early, on and on and on. 

The red tape with WFB is remarkable and shameful. 

I went in person to the XXXX XXXX and met with XXXX XXXX who also was given the run-around, and sent us back to the XXXX  number for complaints. 

WFB doesn't have email apparently, but they do send the same generic letter to me by mail from time to time, just changing the date from time to time, stating they are working on it and it will be resolved in 2 weeks ( the date just keeps changing and this has gone on now for 7 months. All the while they keep helping themselves to my auto payment and increase what they take as they go, and repeatedly make false promises to resolve the case, which remains unresolved. 

WFB has marched on in XXXX doing exactly the same thing, only now say that there is a shortage of {$16000.00}, after helping themselves to an extra {$6600.00} from XXXX in insurance surplus which I paid through the unwanted escrow account. If I overpaid {$6600.00} in just one year and yet WFB still claims a " shortage '', I need to know what additional monies they have taken on behalf of this home loan, year after year, after year. Enough. 

I would like the escrow account closed asap. 

I would like to pay my homeowners insurance directly asap since WFB has severely mismanaged and taken advantage of their bullish power and non-responsive behavior. 
It appears to be company-wide. 

I would like to be reimbursed for all monies WFB has over-charged me for during the life of this loan. Repaid in full asap. 

On one of the many phone calls to the executive office I was informed that WFB has made a " rule '' that they can take extra money to make sure it's enough to cover the insurance. Weird, because when I pay insurance, its a clear bill with a clean amount that is the only amount to pay. It's a simple bill. What is WFB up to here? 

XXXX. In XXXX during the pandemic they offered to defer mortgage payment until the end of the loan, with no penalties. I accepted this innocently believing it to be helpful, however shortly after accepting this, I learned that this puts my loan in to " Forbearance '', so after 2 months ended WFB 's deferred payment option. I have repeatedly asked for all records ( XXXX on ) of the escrow account on my home loan # XXXX, as well as the records of forbearance associated with this loan. 

XXXX. WFB collects property insurance payments on top of the unwanted escrow account which seems to cover for " shortages '' which actually are surpluses. In the past 2 years alone here 's what WFB has " collected '' for property insurance : XXXX WFB collected an additional {$4800.00} XXXX WFB collected an additional {$5000.00} I am available to answer any questions at your convenience. 
Thank you kindly for your valuable assistance.

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