Consumer complaint received 2015-04-02
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
I have a XXXX mortgage on my house from Wells Fargo that started in XXXX and the interest rate is 8.25 %. The mortgage came with the purchase of the house. In order for them to consider me for loan adjustment I was placed with I started working with them in XXXX, and as of this time, have spent countless hours in supplying information etc with no progress. I always pay by phone my monthly payment of {$730.00}, it is important for my credit rating since I am a small business owner and ca n't afford the hits to my credit. 
Back on XXXX XXXX XXXX, I called in to make a payment as I usually do. Wells Fargo has my account # and routing # on file since I pay by phone every month. This month I was for some unspecified reason sent to someone who did not have that information, which came as a surprise. I supplied it. 
I was given a confirmation number and sent a letter saying I made the payment. The letter indicated that the payment has been made and the funds were applied to the account. The letter was quite specific the funds had been paid and there were no qualifiers. 
Wells Fargo said they were unable to apply it due to incorrect accounting number but they had this number in file. 
Wells Fargo admits that they made no attempt to contact me that there was a problem with payment and they did not ever inform me that a payment had not been made. They admit that the only letter that was sent out stated that " payment was made and everything with the loan was fine ''. At end of month I was hit with a 30-day late on my credit report. 
On XXXX XXXX, XXXX, I called to make another payment on the account of the same amount. Since the XXXX payment did not go through, this payment paid the prior month 's payment. Wells Fargo never informed me that there was any problems with the account when I made the payment. I asked them specifically if there was a problem with the account and they said " no ''. Later when I asked there executives why I was not informed at this time the response I received is they were no obligated to. 
I received a letter from Wells Fargo confirming the payment on XXXX XXXX had beenmade with no mention of a delinquent status. 
On XXXX XXXX, XXXX, I received a notice from a credit monitoring company, not Wells Fargo, that my credit had been adversary hurt due to reporting from Wells Fargo, I immediately called from Wells Fargo Bank to find out the payment and was notified by that I was late on the payment. I immediately paid on the account that was 33 days overdue. 
The mistake in entering the incorrect routing number or account number and not notifying me of the account becoming delinquent by Wells Fargo, but instead notifying me that everything was fine with the payment, has caused me financial harm. A loan for the expansion of my business was declined solely because of the thirty-day delinquent status reported by Wells Fargo. 
I asked Wells Fargo the first week of XXXX to research this issue. I was ignored for months in the hope that maybe I would go away. Finally, I found XXXX XXXX at the Executive Branch. he was helpful to get the process rolling and he told me if it was up to him he would remove the 30-day hits to the my credit report. But no matter what the circumstances Wells Fargo has no choice but to report these 30-day lates, it was mandated by the Federal Government. 
So here I am with you asking for help in having these unwarranted hits to my credit removed from my report. Wells Fargo blamed you for having to do it.

Company response to consumer: Closed with explanation