Mortgage -- Trouble during payment process -- Complaint #8236790
Complaint Overview
Complaint ID: 8236790
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: Florida
ZIP Code: 32223
Date Received: 2024-01-27T12:00:00-05:00
Date Sent to Company: 2024-01-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Since Wells Fargo took over servicing of my loan in XX/XX/XXXX, they did not perform due diligence to estimate my property taxes after the purchase of my loan, causing an immediate increase to my mortgage XXXX starting in XX/XX/XXXX. I did not call to complain about it at the time because this only represented a minor mistake based off the increase. Then in XX/XX/XXXX I was notified of another increase based off their miscalculation and adjustment to my property taxes. I did call them to complain at this point because I know they did not perform their due diligence when taking over servicing of the loan for estimation of taxes plus proper reserve requirements. They stated they were only able to forebare a nominal amount of {$100.00} that would not help at this point. I applied for a loan modification in XX/XX/XXXX to help with this and I was declined. Now I just received my escrow analysis for XXXX and now there is a shortage of over {$3000.00} l, adding {$200.00} more to my escrow impound payment. Since they took over servicing of my loan, my payment has now increased by XXXX XXXXXXXX due to their original error of not properly estimating taxes and setting appropriate reserves since taking over servicing of this loan.
Frequently Asked Questions
What is Complaint #8236790 about?
Complaint #8236790 was filed against Wells Fargo & Company regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-01-27T12:00:00-05:00.
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.