Consumer complaint received 2019-05-14
Company: WELLS FARGO & COMPANY
State: OK
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
There is already an investigation underway for a misrepresented 11 months late pay reported to my credit report. The anticipated date of completion was XX/XX/XXXX. Wells Fargo did more bad stuff, after I called the Wells Fargo customer service department to complain/seek resolution. I then reported the additional bad things that were done, and so they pushed back the date of resolution for the first claim. It doesn't seem right that because they do more bad stuff that I get further penalized by pushing the date back further. That is NOT a very comforting trend to establish. The longer this takes to resolve the greater the likelihood that I will lose the house. I noticed a few new troubles with Wells Fargo that I will be reporting today. It seems that if anything this should expedite resolution, and not push it back. 

I will attach in one pdf document the XX/XX/2019, XX/XX/2019 and XX/XX/2019 statements that I received from Wells Fargo. 

The XX/XX/2019 statement clearly indicates a fictitious late charge of {$14.00} which is not accurate. My bills are marked due on the XXXX of every month. Payments received AFTER the XXXX of the month MAY be assessed a late charge ; however, that is not guaranteed. However any bills paid prior to the XXXX should NOT receive any late charges. I automatically pay my bill each month and Wells Fargo indicates that they receive payment every month anywhere between the XXXX and XXXX of each month depending on the month. Eventhough, I submitted and Wells Fargo received the payment on time, the XXXX statement for some reason charged me a random/inaccurate {$14.00} late fee and as such applied less to my principle. You see my bill due was {$1000.00} and I mailed in ( any they received ) {$1100.00} well before the XXXX, but for some reason they saw fit to arbitrarily charge a late fee charge of {$14.00} that was not warranted which is how they indicated that I made a payment of {$1000.00} ( versus the {$1000.00} that I legitimately owed ). As such they only attributed {$120.00} to my principal versus the {$130.00} that should have gone toward principal. This is very scary that Wells Fargo is just randomly making up late fees and misappropriating my funds. How many times have they been doing this over the past 3 years??? 

If you look at the XX/XX/2019 statement you will see that it indicates that I am current on my payments. You will see that it indicates having received a payment from me on the XXXX of XXXX. You will see that I am current and that my next payment of {$980.00} is due on XX/XX/XXXX ( of course with the normal 15 day grace period ). You will also see on this statement that I received a {$26.00} refund check because of overage in my account. You will also see that my unpaid principal balance is listed as {$110000.00}. 

This is all shared to create context for what you will see shows up in my XX/XX/2019 statement. I found it alarming and concerning. 

You will see that the XX/XX/2019 statement shows that my unpaid principal balance is now {$110000.00}. How does my principal balance INCREASE by {$260.00} from XXXX to XXXX? Wow. How many other times in the past 3 years has Wells Fargo arbitrarily and inappropriately adjusted numbers in their favor and hurting me and other customers like me. Again, if it wasn't for the fact that the misrepresentation on my credit report prevented me from getting my house.. .then I wouldn't even be looking at these statements with this level of scrutiny. How can I submit a {$1100.00} payment to wells Fargo in XXXX, going toward a {$980.00} bill in XXXX.. .and my unpaid principal balance increase? That seems criminal to me. 

You will also see that the XX/XX/2019 statement indicates that my account is current, and that the current amount due on XX/XX/XXXX is {$980.00} and the total amount due is also {$980.00}. YET the XX/XX/2019 statement indicates that I now have a total amount due of {$3000.00} which evidently includes {$45.00} since of late charges. You will also see the note from this XX/XX/XXXX statement that says that I am 32 days delinquent on my account and total amount due is {$3000.00}. 

It is clear to me that Wells Fargo has some major issues. How can they still be allowed to do business operating like this? Again, I would not normally even look at my statements because I use automatic bill pay which pays my bills every month. The statements sent out, as far as I am concerned is just a formality. Something that says... 'thank you for paying your past bill, and here is your next bill '. Never in a million years would I have guessed that Wells Fargo is making up fake charges, fake late fees and haphazardly generating 32 days delinquent notices. 

It also troubles me that this is how they treat me as a customer, AFTER, I called in toward the end of XXXX to seek resolution on some previous inaccuracies. I had some questions to customer service about some gross inconsistencies on the Wells Fargo statement for my account and why and how my payments were being applied and funded over the past 18 months. When the customer service person couldn't explain all of the differences in how my payments were applied and where different charges and fees where coming from etc, they said that they had to get me on the line with an 'expert ' who could better address my questions. After being on hold for a long time, they simply disconnected the call. When I called back they said that the person I needed to speak to had gone to lunch. And now, it would appear that in response to me questioning and asking for correction for past billing/funds applied mishaps that I am being punished with even more made up charges, and more misapplied funding, and more delinquent reports.. .none of which are accurate. 

I was requesting a fix on my credit so that I can get this dream house of mine, and the response from Wells Fargo thus far was putting out more disparaging, inflammatory and inaccurate information AND pushing back the time to 'resolution '. So they made matters worse and because they made matters worse they would like to wait longer to fix and resolve it. 

Imagine, if I didn't submit this claim to CFPB and wasn't scouring the Wells Fargo mail with a fine toothed comb.. .in another 11 months I would have 11 MORE negative credit ratings on my Consumer Credit Report showing past due amounts month after month with Wells Fargo Home Mortgage , and countless late charges all built up and no telling how high my 'past due ' amounts would be another year from now. It magically went up {$3000.00} from XX/XX/XXXX to XX/XX/XXXX.. .who knows what it would say by this time next year. 

I can't trust them, I can't trust anything that they have said or done over the past 3 years, and I as you could imagine.. .I have no confidence in what they would say or do over the next 27 years. 

This is criminal. Please not only fix this and make it right for me.. .help fix it so that other people don't have to also go through the same things.

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