Consumer complaint received 2020-06-19
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
FORMAL COMPLAINT AGAINST WELLS FARGO MORTGAGE CO. 
To : Wells Fargo Mortgage Mortgage payments misappropriation XX/XX/2020 RE : XXXX XXXX - XXXX XXXX XXXX XXXX XXXX FL Account # XXXX XXXX - Cell : XXXX I am XXXX XXXX with the Mortgage Account # XXXX! This letter is a formal complaint against Wells Fargo Mortgage Co. for funds misappropriation in order to gain and maximize more interests on the mortgage loan. Wells Fargo Mortgage has defrauded me by programming and setting computing system to collect more interest by forwarded payments to regular future regular monthly payments. I am requested that all payments be applied retroactively as per our agreement, payment MUST BE APPLIED TO THAT MONT IT WAS COLLECTED, NOT FUTERE PAYMENTS with interest and principal adjustment. 
Such practice might have victimized and defrauded a lot of mortgagees. This might be considered as Wire Fraud also. This willful calculated act of defrauding can not continue. Also, there must be a penalty associated with such a fraud. In light of past violations, and consent to cease illegal practices, Wells Fargo Mortgage has been defrauding mortgages blind folded. 
Over the years, I called Wells Fargo Mortgage Customer Service about how my payment has been applied forward to the next months illegally, and in violation of our agreement. I had requested again for a full retroactive interest and principal payments adjustment for the life of my mortgage with Wells Fargo Mortgage. 
Our agreement is to apply the first payment on the first of each month as the regular payment of interest and principal for that specific month with the extra dollars going to the principal. The second payment on the XX/XX/XXXX of every month must go on the principal ONLY! However, Wells Fargo Mortgage has been violating that agreement constantly intentionally to gain more interest payments. For instance, my XX/XX/XXXX pay may was set for XXXX. The XX/XX/XXXX payment was set for XXXX and so on. 
Wells Fargo has been applying the first payment one or two month forward! Hence, over times, my payment is being held hostage! The internal structure of my payment set by Wells Fargo is illegally held back in order to collect more interest. I have called Wells Fargo many times over the years, this violation of trust and voodoo accounting, and they have reassured me that issue will be corrected. However, they are still practicing such illegal accounting. 
I am requesting a full audit of my account, with a retroactive interest and principal payment. All payments that have been forwarded to future months must be adjusted and credited appropriately as per the agreement that each month payment is applied to that month. Furthermore, Wells Fargo MUST cease such practice. 
I still retain the legal options to file Federal and State complaints against Wells Fargo for illegal accounting. Furthermore, all legal actions might be considered for aggravated intend to defraud. 

I can be reached at XXXX Please be mindful that all legal options are still there. My next step is up to Wells Fargo! 
Thank you, XXXX XXXX

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