Consumer complaint received 2015-10-08
Product: Mortgage — VA mortgage
Issue: Loan servicing, payments, escrow account — 
Company: WELLS FARGO & COMPANY (GA)

My home mortgage is held by Wells Fargo. In XXXX XXXX my mortgage payment increased by {$93.00}. I immediately contacted Wells Fargo to inquire about why such a significant increase. I understand that due to increases in property taxes and home owner 's insurance monthly mortgage payments will increase to cover and potential shortages in the escrow account. When I contacted Wells Fargo I was informed the payment increased as a result of the yearly analysis indicating a projected shortage in escrow. After thoroughly going over my property tax and home insurance records for the current and previous years with the Wells Fargo representative it was discovered my property taxes increased by {$170.00} for the year and my home insurance increased by {$86.00} dollars for the year XXXX total of {$250.00} for the year, or {$21.00} per month ). The Wells Fargo representative could not ascertain why an additional {$71.00} was added onto my monthly mortgage payment since no other shortage was indicated. In fact, the Well Fargo representative found where, after the XXXX analysis, my payment should have increased but did not because I made a lump sum payment to bring my escrow to its proper balance. My monthly mortgage payments never increased after any previous analyses, nor did Wells Fargo ever inform me over the course of XXXX that I was making an incorrect payment. In fact, throughout the entire year my online Wells Fargo account and monthly statements never indicated any delinquency in payment history or shortage in escrow. My property taxes nor home insurance has increased enough to justify the additional {$71.00} per month increase. The WF representative stated she would investigate and have someone contact me with a business week. I proceeded to have XXXX subsequent conversations with various WF representatives from XXXX XXXX, XXXX to XXXX XXXX, XXXX attempting to have them explain in detail to me why they are claiming such a significant shortage in escrow but to no avail. At one point I requested to be released from WF holding escrow and allow me to make my own property tax and home insurance payments. The WF representative stated he would investigate and get back in touch with me. On XXXX XXXX, XXXX I received documentation ( dated XXXX/XXXX/XXXX XXXX from WF representative XXXX XXXX XXXX XXXX ext. XXXX ) stating the increase in monthly mortgage payment is due to a shortage in escrow caused by WF paying out more in taxes and insurance than projected. But, no one can inform me where the extra money went to since the difference in the increase of my taxes and insurance from the previous to current year does not warrant a {$71.00} additional charge. Additionally, XXXX XXXX informed me that I am unable to be released from escrow due to WF policy. I was informed in a conversation with a WF representative that if I do n't pay the new monthly mortgage payment then my account will be considered delinquent after three months, affecting my credit and possibly resulting in foreclosure proceedings. I do n't understand how WF, or any lending institution, is permitted to hold their customers 'hostage ' in this manner. Obviously a mistake was made by WF 's but I am unable to reach a representative that is able, or perhaps willing, to admit to the mistake. Instead, I am left in a position where I either comply with their findings and make the new payment, or have my credit tarnished. I request that an investigation be conducted to determine where the additional funds WF is claiming were paid out for taxes and insurance went to, as well as determine if there is a way I can be released from WF escrow so that I can pay my taxes and insurance myself. 
Regards, XXXX