Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4768156
Complaint Overview
Complaint ID: 4768156
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Georgia
ZIP Code: 30345
Date Received: 2021-09-30T12:00:00-05:00
Date Sent to Company: 2021-09-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
Trying to refinance with a 3rd party mortgage ( XXXX XXXX ). Wells Fargo Home Equity ( WFHE ) has denied 3rd party mortgage payoff request 4 times claiming my home address does not match their records. XX/XX/XXXX initiated 3 way conference call with myself, 3 party mortgage, and WFHE. Account number, primary address, original loan amount, and current loan balance were verified by all parties. Wells Fargo Rep even provided 3rd party with an email address to send request for payoff. XX/XX/XXXX XXXX party mortgage called and informed me WFHE had once again denied request for payoff via email stating my home address does not match their records. XX/XX/XXXX made an in person visit to Wells Fargo branch to request a mortgage payoff. WF Banker placed a call to WFHE to get clarification. Banker informed me WFHE had no record of any request for a payoff from a 3rd party mortgage company. WFHE could only provide a verbal payoff but no official. Puzzled why not since we are in the 21st century. WFHE said I must call and request a payoff which will take 7-10 business days to process and mail via US Mail . Do not understand why such information could not be emailed to me? Banker asked why I using a 3rd party mortgage and not WF since I have been a customer since XXXX? I refused to answer as this was personal & private. Banker further stated I should use WF. At this point it is very clear that I am being held financially hostage by Wells Fargo as they are unwilling to provide the payoff information requested. XX/XX/XXXX made a call to WFHE to request a payoff letter. The WF rep stated processing would take 7-10 business days but would not be valid for a mortgage payoff. 3rd party would need to request a payoff directly from WF. Tried to explained the problem has been WF and denied receiving any request from 3rd party. However, same rep confirmed notification in my records of a call with WFHE, myself and 3rd party on XXXX/XXXX/XXXX. I officially request a payoff from WFHE. Clearly I am financially being held hostage as WF is denying receipt of payoff requests, plus giving me the runaround as to why my request would take 7-10 business day to process and mail. This sounds similar to the incidents years ago when WF Bankers opened accounts for customers who did not make requests. WF paid some major fines.
Frequently Asked Questions
What is Complaint #4768156 about?
Complaint #4768156 was filed against Wells Fargo & Company regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-09-30T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.