Consumer complaint received 2024-03-30 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
I inherited a property that carried a mortgage of {$XXXX} dated XXXX ( XXXX XXXX Mortgage ). 

In XXXX my mother passed away and I have paid the loan ever since. ( These payments were made to XXXX XXXX ( at least ) since I have taken over paying the loan ). 

I have been on title to the property for the past 10 years or so. 

I am currently refinancing this property and attempting to pay off the loan serviced by XXXX XXXX. I explained to the current lender ( for this refi ) that we have been paying XXXX XXXX for nearly 16 years and it is the only mortgage lien against the property even though the prelim shows XXXX XXXX. 

I requested the pay off demand and received it. Since the payoff ( XXXX XXXX ) is not the lienholder that showed on the preliminary title report, the title company questioned how to get the pay off from the lienholder recorded in XXXX. 

The refinance title company had a hard time verifying the pay off demand for XXXX XXXX was indeed the original note recorded in XXXX. 

There was not an original balance on the pay off demand, there was not an original loan number on the pay off demand, so " connecting '' XXXX XXXX ( servicing ) to the recorded deed of trust ( XXXX XXXX ) was not clear to the title company when the pay off demand was ordered. 

I spent over an hour and a half with XXXX XXXX on the loan; explaining this disconnect and they would not include any changes to their pay off demand in order for the title company to determine from a XXXX XXXX pay-off demand that they were the lien holder/loan servicing company . 

They insisted that I provide my proof of how I received title before they sent my request down the pipeline when accepting payment from me since .This would cause delays and would not rectify the fact that their demand did not prove they were the transferred loan servicing agency. 

MY GOAL WAS THAT I just wanted to get them paid in full and remove them from my property and to get something from them to indicate they are the current trustee to be paid that show on the title/lien on the property. 

Loan Servicing companies come and go all the time. There should be a requirement that the payoff demands include a verifiable connection to the original loan that closed in the payoff demand letter. Maybe this problem was prior to the XXXX debacle and has been rectified, but XXXX XXXX  was not forthcoming nor cooperative to resolve this payoff issue for this transaction. 

My investor that is working on the loan file now, worked with me to calculate the timing of the note ( XX/XX/XXXX due date ) and balance ( $ XXXX ) and piece together other components to determine what I said about this XXXX was correct. But the lack of cooperation from XXXX XXXXXXXX Was not acceptable. 

The process to pay a lienholder should not be this complicated. 

Fortunately, I originated the loan in XXXX, I own the property currently, and the new loan originating now is with an investor I am familiar with. They took all the extra documentation into consideration. Otherwise this case would not get resolved.

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