Consumer complaint received 2015-04-09
Company: WELLS FARGO & COMPANY
State: TX
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account

Complaint:
XXXX XXXX, XX/XX/XXXXConsumer Financial Protection Bureau, ( www.consumerfinance.gov/compl ... ) Reference, Well 's Fargo and ASC are servicing my loan in behalf of the deceased corporation XXXX Mortgage. They collect and pilfer my monthly mortgage payments. 

Few weeks ago, a received the attached notice about my escrow account from Well 's Fargo, the XXXX paragraph reads as follow : " Your escrow account has more funds than necessary, so we 're mailing you a refund and is made payable to : '' Some years ago, I did encounter several persons that received similar notice and refunds from their Well 's Fargo escrow accounts. Only to be notified by Wells ' Fargo some months later that their escrow accounts had a shortage. And of course, Well 's Fargo promptly lend them a high interest rate monies to cover their escrow shortages. Several borrower 's went in to foreclosure ; because, they could not afford the new higher monthly payments. Some, other lucky borrowers were able to re-finance with another lender. Because of the past experiences, I suppose that Well 's Fargo and ASC want to foreclose my home. 

I will not be able to refinance ; since, ASC and Well 's Fargo are not my loan originators. They are only collect and pocket my mortgage payments. My loan was originated by XXXX XXXX. The only lien recorded on my property, since XXXX to the present, at the County Clerk 's office, in XXXX County, it is The XXXX XXXX promissory note for the amount of {$82000.00}. [ loan # ] XXXX XXXX never sent me a written notice about them selling or transferring my promissory note ; it did not issue me a Lien Release, and/or a pay off letter. [ Thus, I agreed and understood about the lender 's ability to " sell '' my loan - but I never agreed to the securitization, electronic recordation, or transfer-ability. 

Well 's Fargo and ASC Mortgage had admitted in writing that they do not own my loan. Well 's Fargo and ASC are servicing my loan in behalf of the deceased corporation XXXX XXXX Mortgage. Since, XXXX XXXX Mortgage declared bankruptcy in the fall of XXXX. Well 's Fargo and ASC Mortgages shall reimburse to me, all the monthly mortgage payments that I have been making under the ASC loan Num., from the fall of XXXX to XXXX. 

Thank you for your attention and any help you can give me to stop well 's Fargo and ASC Mortgages to rob me the money from my monthly payments. 




AttachmentYour escrow account has more funds than necessary, so we 're mailing you a refundLook for your escrow statement and refund check in the mailDear : As part of the escrow service we provide with your mortgage, we collect funds from you each month to cover the cost of your real estate taxes and/or property insurance. We hold the money and make the payments on your behalf when they 're due. 

Your escrow account is projected to have more money than is necessary to pay your taxes and/or insurance, so we 're sending you a check for the difference. Please look for it in the mail within 10 business days. It will be attached to your escrow analysis statement and is made payable to : If you have questions regarding your escrow analysis when you receive it, call us at XXXX, Mon - Fri : XXXX XXXX - XXXX XXXX, Central Time.

Company response to consumer: Closed with explanation