Consumer complaint received 2016-08-05
Company: WELLS FARGO & COMPANY
State: VA
Product: Mortgage
Sub-product: VA mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
Wells Fargo has sent me a notice stating that they are charging me late fees for being late XX/XX/2016 My loan is a federal VA Loan, which terms clearly states that regardless of banks use of the XXXX as a payment date, my loan is not late unless I make payment, after the XXXX of the month, which has never occurred. My monthly mortgage PI payment of XXXX ( attachment A ) was sent to Wells Fargo, on XX/XX/XXXX and they cashed it on XX/XX/XXXX ( check # XXXX ) Wells, claimed that the check was late, and issued a late fee and sent me late notices, however the document, Certification of Loan Disbursement from the loan closing, shows the Mortgage account, PI amount, and Check # XXXX for that amount, XXXX was cashed on XX/XX/XXXX by Wells. VA regulations state that late is after the XXXX. 
Further, additional payments were made to my separate, escrow account, and cashed on XX/XX/XXXX for the amount of XXXX ( # XXXX ). 

XX/XX/2016 they were shown to have removed XXXX from my Principle account to my Escrow account, ( Attached B ). 

In XX/XX/2016, Wells Fargo Issued a monthly year to date summary ( attached C ) with a year to date escrow payments of XXXX, but in the same statement is saying the balance is XXXX, what happened to the other XXXX? There are also the unapplied funds of XXXX on the statement. 

XX/XX/XXXX, I received Check # XXXX ( Attached D ) deposited on XX/XX/2016 from Wells Escrow disbursement, to which it was never explained whether the check was for overages, or why was it given. 

XX/XX/2016 ( Attached E ) the escrow part of the monthly statement is showing a balance of XXXX, and unapplied funds of XXXX, which if added to the escrow, would total XXXX, and if you figure in the escrow disbursement check sent for XXXX, would equal, XXXX exceeding my total yearly escrow disbursements TI requirement of XXXX, with 5 months left in the year, indicating it will exceed the low point of XXXX by a considerable amount and support my position, that Wells Fargo never took the 2015 year end balance into account when determining what escrow amount was needed. 
If I sent in the amount of XXXX per month for the remaining 5 months, there will be XXXX, to be added to escrow, more than doubling the legal low point. Moreover, if I were to send in the amount of XXXX for the remaining 5 months XXXX would be added, closer to tripling the legal low point ( XXXX XX/XX/XXXX ) When I bring these issues to Wells attention, they refuse to give honest and straight answers, most often will try to answer questions that are not being asked, stuff a lot of data in the reply that is unrelated to the questions at hand, ask for more time to do research, but still do n't seem to address the questions I ask, and even more disturbing is that they continue to misapply funds and deposit checks written to my mortgage PI account to my escrow account, and apply my escrow deposits to an unapplied account, misapplying and trumping up late charges. There is no shortage in the escrow, but there is considerable excess. 

Thank you.

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 non-monetary relief