Consumer complaint received 2026-05-29 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Lien release
Company: WELLS FARGO & COMPANY
State: OR

Complaint narrative:
CFPB COMPLAINT WELLS FARGO HOME MORTGAGE Loan Number : XXXX Property : XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX COMPLAINT NARRATIVE : I am filing this complaint regarding Wells Fargo 's handling of a partial release of lien request on my mortgage. Wells Fargo has caused significant financial harm through their delays, contradictory information, and ultimate denial of a request they have approved twice before on the same parcel. BACKGROUND : I hold a mortgage with Wells Fargo on a XXXX property valued at XXXX XXXX ( per Wells Fargo 's own appraisal which they made us do twice, XX/XX/XXXX and XX/XX/XXXX ). My unpaid principal balance is approximately XXXX XXXX representing a loan-to-value ratio of approximately 30 %. I requested a partial release of an XXXX quarry parcel a small, unimproved portion of the property being sold to a cash buyer for {$150000.00}. PRIOR APPROVALS : - XX/XX/XXXX : Wells Fargo approved a partial release of XXXX acres on this same property with NO additional paydown required ( Case Number XXXX ). - XX/XX/XXXX : XXXX XXXX, Escalations Representative, Land Transactions & Servicing Support, confirmed via email that the partial release was approved with no paydown and closing could proceed as scheduled. The prior release did not close due to pending litigation on the property that was cause by delay in closing ( now resolved ). The loan has since been fully reinstated with all arrearages paid. CURRENT REQUEST : My current request is for a SMALLER parcel ( XXXX acres vs. XXXX acres previously approved ), on a property that has INCREASED in appraised value ( $ XXXX vs. $ XXXX prior ), with a LOWER loan balance. Wells Fargo 's collateral position is stronger now than when they previously approved the release. TIMELINE OF HARM : - I initiated this request in XX/XX/XXXX and have made approximately 35+ phone calls to Wells Fargo over the course of 6+ weeks. - Wells Fargo required a new appraisal despite having a current appraisal on file ( XX/XX/XXXX, {>= XXXX ). I was charged {$3300.00} for a second appraisal that confirmed what their existing appraisal already showed. - Wells Fargo 's appraisal management company ( XXXX ) delayed submission of the completed appraisal report for approximately one week, further extending the timeline. - Multiple Wells Fargo representatives provided contradictory information about the status of the request, the timeline for review, and the location of documents. - Wells Fargo ultimately denied the release citing late payment history the same condition they waived in their prior approvals. They did not contact me to inform me of the denial ; I learned of it only by calling in. FINANCIAL HARM : 1. {$3300.00} paid for an appraisal that was unnecessary ( Wells Fargo had a current appraisal ) and ultimately used to support a denial. XXXX. I have a cash buyer waiting to close on the quarry parcel for {$150000.00}. The delay and denial are jeopardizing this transaction. I will most likely be sued because of failure to perform. XXXX. The quarry parcel is the subject of prior litigation. Failure to complete this sale exposes me to additional legal risk. XXXX. I am paying $ XXXX in interest on a hard money loan that the quarry proceeds would help service. XXXX. Attorney fees, title company fees, and other costs incurred in reliance on Wells Fargo 's prior approvals and representations. REQUESTED RESOLUTION : 1. Immediate approval of the partial release of lien for Parcel 1 ( XXXX acres ) of Partition Plat No. XXXX, consistent with Wells Fargo 's two prior approvals of the same parcel. XXXX. Refund of the {$3300.00} appraisal fee, as Wells Fargo had a current appraisal on file and the new appraisal was unnecessary. XXXX. Compensation for financial harm caused by the delays and denial, including costs incurred in reliance on Wells Fargo 's prior approvals. SUPPORTING DOCUMENTATION AVAILABLE : - Wells Fargo approval letter, XX/XX/XXXX - XXXX XXXX approval email, XX/XX/XXXX - Complete submission package with all required documents - Appraisal reports ( XX/XX/XXXX and XX/XX/XXXX ) - Call log documenting 35+ contacts - Signed purchase agreement with buyer

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