Consumer complaint received 2020-11-01 00:00:00
Product: Mortgage — VA mortgage
Issue: Closing on a mortgage — 
Company: WELLS FARGO & COMPANY
State: MD

Complaint narrative:
Before I respond to WF, I would like to include news stories about just some of the news WF has made in no particular order : New York XXXX XXXX XXXX XXXX XX/XX/XXXX Wells Fargo has fired more than 100 employees for misrepresenting themselves to obtain money from a relief fund for small businesses, and whose actions may have amounted to defrauding the US Small Business Administration. 

In a memo to some staff Wednesday, which was obtained by XXXX XXXX, Wells Fargo ( WFC ) human resources head XXXX XXXX wrote that the bank identified employees whom it believes may have " defrauded the U.S. Small Business Administration ( SBA ) by making false representations in applying for coronavirus relief funds for themselves through the XXXX XXXX XXXX XXXX program, which is administered directly through the SBA. 

XXXX XXXX XXXX - Wells Fargo & Co 's WFC.N profit plunged 57 % in the third quarter, missing XXXX XXXX 's expectations as persistent costs tied to its years-old sales practices scandal continued to haunt the bank. 

XX/XX/XXXX XXXX, XXXX XXXX XXXX ) XXXX Wells Fargo & Co agreed to pay {$170.00} XXXX to resolve allegations it charged XXXX-Americans and XXXX  higher rates and fees on mortgages even when they qualified for better deals during the housing boom, the U.S. Justice Department said on Thursday. 

A government investigation found XXXX instances of Wells Fargo charging XXXX Americans and XXXX  higher fees and rates on mortgages compared with white borrowers with similar credit profiles, according to documents filed in the U.S. District Court for the District of Columbia. 

XXXX XXXX XXXX XXXX XXXX ) - Wells Fargo, the nation 's fourth-largest bank, agreed Friday to pay a {$3.00} XXXX fine to settle a civil lawsuit and resolve a criminal prosecution filed by the Justice Department over its fake account scandal. 

Under pressure to meet sales quotas, bank employees opened millions of savings and checking accounts in the names of actual customers, without their knowledge or consent. Since the fraud became public in XXXX, the bank has faced a torrent of lawsuits. The scheme lasted more than a decade, Justice Department officials said, and was carried out by thousands of Wells Fargo employees. 

XXXX XXXX XXXX XXXX XXXX ) - More Wells Fargo customers say the bank decided to pause their mortgage payments without asking XXXX later learned what had happened. Without her knowledge, the bank had put her into a program that suspended payments on her federally backed loan. Known as forbearance, it is a CARES Act program that aims to help borrowers who are having trouble making their payments because they've been hurt by COVID-19. 

While in forbearance, XXXX and her husband almost certainly can't refinance their mortgage, because most banks won't underwrite new loans for borrowers whose mortgage payments are suspended. As long as the forbearance notation remains in their credit report, the XXXX can't take advantage of rock-bottom interest rates and are stuck at Wells Fargo. 

OB - Wells Fargo did not address the overage that I was told would have happened as a result of making the mortgage payment on XXXX XXXX. I was lead to believe that this overage would occur once the original loan was completely paid off and that XXXX XXXX payment would have been extra. If this was not to be the case, Wells Fargo did not clarify. Please tell me where in any of the responses does Well Fargo mention this overage. 

Did WF answer my question based on what XXXX XXXX said? - NO Why? - WF responses have been repetitive with numbers on this topic but they have not addressed what XXXX XXXX said in his email. At no time in his response did he mention escrow but now WF makes note of an escrow overage. When I asked if the escrow check included the overage payment XXXX XXXX mentioned in his email, WF gave me multiple confusing responses before deciding to totally ignore the direct question. 

Mr. XXXX either lied or misinformed me about the mortgage payment overage. WF has also not addressed the following my following statement : I did learn from a Wells Fargo representative that there was a delay in paying off the old loan which caused me to accrue more interest on the old mortgage loan. The question is why was there a delay? Did XXXX XXXX or someone else cause this delay? Is this why they want to speak about everything other than the comments XXXX XXXX said? 

I still do not know what XXXX XXXX meant by completed and boarded. In fact she said Additionally, we review your concern that your closer had advised the loan would be completed and boarded into our system of record by XX/XX/XXXX. We found no evidence that this information was provided to you. 

Again, here is what the closer said in his email : I spoke with my manager and she did confirm that late charges are assessed on the XXXX and we are not scheduled to disburse until the XXXX. 

If the payment was made on the XXXX as scheduled you would receive a refund for the overpayment because we would not be able to rework numbers prior to closing in this scenario. 

I am once again requesting a complete answer to this issue and I will continue to file complaints against WF until they provide an adequate and honest response

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