Mortgage -- Trouble during payment process -- Complaint #7132170
Complaint Overview
Complaint ID: 7132170
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: District of Columbia
ZIP Code: 20010
Date Received: 2023-06-17T12:00:00-05:00
Date Sent to Company: 2023-06-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I purchased a home in 2022 with a 4 % interest rate and was told that my monthly mortgage ( with taxes and insurance in escrow ) would be {$3000.00}. It is now $ XXXX/month ; a 10 % increase. My property taxes went up $ XXXX. and insurance is about the same. When I called Wells Fargo they said that I had an escrow shortage and then hung up on me. A {$3400.00} a month payment is very different than one that is about $ XXXX. Wells Fargo did the underwriting and the escrow analysis. I would have made a different choice if I knew my mortgage would have been {$3400.00}.
Frequently Asked Questions
What is Complaint #7132170 about?
Complaint #7132170 was filed against Wells Fargo & Company regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-06-17T12:00:00-05:00.
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.