Consumer complaint received 2021-04-26 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
This complaint is being filed against Wells Fargo Mortgage Company for emotional, psychological duress, fraud, theft and entrapment. On XX/XX/2021, XXXX, payor, posted a wire transfer to Wells Fargo Bank to settle the balance due on my mortgage in the amount of {$350000.00} as the final step in the process of my mortgage refinance transaction. 
As of XX/XX/2021, Wells Fargo Mortgage commenced collection activities against myself and my husband ; claiming my mortgage payment for the month of XXXX was past due. The payoff balance due on my mortgage, as of XX/XX/2021, was the {$350000.00} and that was the amount of payment transferred to Wells Fargo as of XX/XX/2021 ; per the settlement disbursement receipt provided to me by XXXX XXXX  XXXX closing agent, XXXX XXXX on XX/XX/2021. 
Wells Fargo Mortgage began contacting myself and my husband via phone and email to collect what they claim to be past due dollars after payment for the full amount of my mortgage had already been accepted. I made contact via telephone with Wells Fargo on XX/XX/XXXX, first speaking to XXXX XXXX in the collections department to clear up the matter and after some light research he informed me that the wire transfer received was short by an undisclosed dollar amount. I then told him that I have proof via settlement receipt that the entirety of my mortgage balance was paid on XX/XX/2021 and that there should be no cause for collections or default referral to credit reporting agencies with regard to my account with this bank. I then voiced to him that If this matter was not resolved today, I would be retaining a lawyer and contacting the media to alert consumers across this country about the rampant theft and psychological abuse being imposed on working class people, such as myself, by these commercial banking institutions. I was then transferred directly to the executive office of Wells Fargo mortgage and refused the opportunity to gather any further vital information related to the discrepancy around the settlement of my mortgage with them. 
In speaking with the executive office, I was placed on hold three times while the agent claimed to be in the process of handing me off to a case worker who would work " with me '' to settle the amount the was still due on my account. I told her the balance of my mortgage was paid in full by Title35 Company on my behalf as the final step in my refinance transaction and that there was no additional dollars due on this account. At that very moment, I received a notification from my credit reporting app telling me my credit score was reduced by 5 points as a result of an increase in total balance due to Wells Fargo mortgage company. A perfect credit score that took me over a decade to achieve was now tainted due to a strong arm abuse of power inflicted on me and my family by this crooked, capitalist swine of an institution. 
After an hour of requesting the company provide me the total dollar amount they claim the settlement wire transfer to be short, the agent finally identified in account notes, per their records, the account was short {$770.00} as of XX/XX/XXXX and that every week thereafter, the balance would increase as a result of compounded interest. They would not apply the $ XXXX to the balance of my account until the short amount was received. They said the short amount was due to reimburse them for payment of my home owners insurance. I am not a genius, by any means ; but I am also no simpleton. The dollars in my escrow account are MINE. Those dollars are not borrowed. Those dollars are include over and above the amounts necessary to fulfill my obligations for my home owners insurance, my property taxes and mortgage insurance. I ordered Wells Fargo to pay the balance due on my CA Fair Plan home owners insurance ahead in XX/XX/2021, ahead of the settlement of my refinance so that I didn't have to included the home owners insurance in my new mortgage. They have absolutely ZERO right to reclaim that money from myself or XXXX XXXX  XXXX in conjunction with closing this mortgage account. This has caused an undue amount of emotional and psychological duress to my mental state. As a consumer, I have ZERO choice but to store my money in a bank account. I have ZERO choice but to receive my pay to a bank account. I have ZERO choice to manage my monetary transactions through financial institutions. I can not receive cash from my employer, I can not pay the institutions I am forced to rely on for my family livelihood with cash. 
Now, I am being forced to wait for Wells Fargo bank to assign a case worked to contact me about resolving this error -- which is completely false, while my credit rating continues to plummet on their behalf over this fictitious claim that I have defaulted on this mortgage. There are zero protections for consumers in dealings with these companies. We have no legal options but to submit claims through this office. Meanwhile, there is $ XXXX sitting in limbo on my behalf right at this moment ; not being posted to settle my mortgage with this company. This account balance needs to be cleared. My credit point loss needs to be recovered. Derogatory statements on my credit report and my husbands credit report need to be erased. I expect a formal investigation to be conducted against not only Wells Fargo bank, but EVERY commercial banking institution in this country. These banks attempted to defraud me for collection of funds that were not theirs to being with. Funds in the escrow account belong to the consumer, NOT to these institutions.

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 monetary relief