Mortgage -- Trouble during payment process -- Complaint #5065792
Complaint Overview
Complaint ID: 5065792
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Texas
ZIP Code: 76210
Date Received: 2022-01-03T12:00:00-05:00
Date Sent to Company: 2022-01-03T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have mortgage with Wells Fargo Mortgage Company ( XXXX # XXXX ). I had opted forbearance due to COVID-19 XX/XX/XXXX- XX/XX/XXXX. I was approved for a payment deferral which let me pay the outstanding amount at the end of my loan term. XX/XX/XXXX, I called the Well Fargo Mortgage company to remove the PMI as my home value has gone up and PMI got removed. On XX/XX/XXXX when I requested to separate Escrow account the Customer representative initially said it can be removed and they will send a letter confirming that. But when I called them today, 2 different representatives are giving me 2 different stories saying 1. the Escrow can not be removed till I close my Mortgage or the term is completed. 2. They are considering the forbearance as a late/missed payment so I have to request after XXXX XXXX and XXXX. When I requested they send me this letter which was dated on XX/XX/XXXX : Short-term payment suspension impacts Escrow account : If you have one for this loan, you may experience a shortage if you miss payments. When this happens, well continue to pay your tax and insurance bills. ( If you dont have an escrow account, remember to pay your tax and insurance bills directly. ) If you miss payments, you may not be able to remove the escrow account. I was not informed that the forbearance was considered as a miss payment, infact I was told that forbearance WON'T be considered as a Miss/Late payment!
Frequently Asked Questions
What is Complaint #5065792 about?
Complaint #5065792 was filed against Wells Fargo & Company regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-01-03T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with non-monetary relief". 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.