Consumer complaint received 2021-10-11 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: WELLS FARGO & COMPANY
State: PA

Complaint narrative:
XXXX XXXX XXXX XXXX Pa XXXX Home : XXXX Cell : XXXX WELLS FARGO I have used this Wells Fargo website since XXXX when I bought this house for XXXX yrs. My mortgage monthly payments go through this website for more than XXXX yrs. It is by direct debit from my bank account at XXXX XXXX. I often check my statement when I have a chance or when Im not working. 


I always make a monthly payment of {$4600.00} which satisfies interest as well as principal on the XXXX of each month. However, while the payment shows up as {$4600.00} on XXXX XXXX records, XXXX XXXX  shows that {$5200.00} has been withdrawn monthly, from Wells Fargo, without my consent or knowledge. I have no idea where the extra money is going because it doesnt show up on Wells Fargos records.

Additionally, for the last 5 yrs I have paid extra payment to the principal, {$2000.00} to {$5000.00} each month. This has been encouraged by various Wells Fargo staff whenever I asked them. My understanding is when the principal reduces the interest must be reduced as well. To my surprise, because of Wells Fargos structure it is not that so. 


In the past, Wells Fargo added to my mortgage extra payments for XXXX XXXX, and later on accident and life insurance, without my knowledge nor agreement.I found out about one year later and talked to them about that, but Wells Fargo denied they did this. Later on, I made the official complaint to the Consumer Protection Agency. I did not get the money deducted from my account which is about {$560.00} plus interest for this period. 

Recently, although I have been fully insured for my home with XXXX and XXXX, Wells Fargo accused me of not insuring my home and they paid their own insurance which is more expensive and I had to deal with them for several months. Even now, in their statement the home insurance is still included and I dont know what happened with that. On top of this, Wells Fargo has added hazard payments of {$800.00} every month for about a year. It is an addition to my monthly mortgage payment. 


Wells Fargo deducted from my account hazard policy from XX/XX/XXXX up to now which amounting to {$6500.00}, probably more than that now. They never refunded me back. 


From XX/XX/XXXX {$400.00} extra principal payment XX/XX/XXXX - {$1000.00} XX/XX/XXXX - {$2000.00} XX/XX/XXXX - {$4000.00} XX/XX/XXXX - {$2000.00} XX/XX/XXXX - {$2000.00} XX/XX/XXXX - {$1000.00} These are according to my record from Wells Fargo website. My thinking is if I pay into principal, interest should be automatically reduced. 

According to Wells Fargo it is not that so. 


XXXX XXXX XXXX on XX/XX/XXXX urged the Federal Reserve to break up Wells Fargo, arguing a string of scandals at the financial titan puts consumer at risk. 

I am XXXX of the consumers a string of false statement and lying put me and other consumers at risk. 
Sincerely , XXXX XXXX XXXX XXXX MD

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