Date Received: 2023-06-14
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: In XXXX, we were put in a HELOC mortgage. Besides the home purchased being over-appraised ( after the closing of the sale we were informed that the appraisers brought in by Wells Fargo and the loan servicer, were working together ; and we probably shouldn't have even been put in a HELOC, but the pressure from Wells Fargo onto its employees that were receiving kick backs contributed to this in the first place ) in order to get the loan amount needed. After the housing market decline, the value of the home was over 50,000 less than the loan closing amount. Despite that, and efforts to renegotiate with Wells Fargo, the only solution our family had to avoid falling behind was to move, and rent out the property. We did this for almost 10 years. More recently, in XXXX of XXXX, the tenants in our home stopped paying rent ( the rental price was the exact amount of our mortgage payments ). Turns out, after years of making on -time payments, we fell behind with Wells Fargo because of having squatters in the property. Since XXXX of XXXX ( 2 months prior to covid ), we have notified Wells Fargo of the issue at hand. We had con-artists in the house. And if it couldn't get any better, the lease was a real estate planning, and tenant- landlord lease agreement attorney in Illinois XXXX We later found out, we were the second victims of this unethical and strategically manipulative con artist. In XXXX of XXXX, covid 19 occurred. Despite the tireless efforts of my family to evict the squatters, WELLS FARGO IS A FEDERALLY BACKED MORTGAGE COMPANY, therefore we weren't able to remove them from our property. Under the cares act signed into law, the requirements to qualify for the eviction moratorium are A. B. C. and D. Our tenants did not meet any of the requirements. And despite that, our eviction filings in the XXXX XXXX court, were still denied. We did everything we could do without violating laws to remove the unauthorized tenants from our home, but they remained until XXXX of XXXX. When we finally were able to gain access to the inside of our home, it was DESTROYED. Black mold infestation, broken windows, walls, stolen appliances, ripped out door knobs, light fixtures, window hardware, above ground pool trashed and used as a garbage for over a year because the squatters were using it as a garbage can ( because the city took away the cans which we later had to hunt down, because they didn't pay the garbage bill ), broken pipes, the list goes on. Even after making Wells Fargo aware of the situation, they were still charging us late fees, and we requested a forbearance that was later approved. Despite this, in XXXX when the HELOC ballooned, and we could not pay due, they changed the loan to a conventional home mortgage. Upon the agreement with Wells Fargo to put our home into forbearance due to covid, it was outlined in the contract that when the forbearance period was up, we would be able to re- negotiate the terms of our loan. Over the last year, Despite our efforts and multiple certified overnight letters requesting first an extension, then a pay off amount amongst other requests ( like access to our online portal to print out statements, which we are still being denied ), WELLS FARGO did NOT respond. Instead of working with our family to work out a new payment plan, they not only filed for foreclosure, but they hired an attorney and filed a suit to sue our first position loan servicer ( by the way who has been paying the taxes of our home ), for first position. Why the effort to go through all of this, but ignore our request to pay off the loan completely pending the cash sale of an inherited debt free property. Considering the nightmare my family and I have been through, and the tireless effort to fix the damages done to our home, which now has amounted to over 120,000 in remodeling because of the damages done, they are still failing to give us a reasonable answer. How do we NOT qualify for mortgage assistance!? Since Wells Fargo is a federally backed mortgage company, I am holding them directly responsible for the inability to remove the tenants from our home in the first place. Despite the the extensive destruction of our home, and the immediate threat posed to our property, and the property of our neighbors, they remained in the house for over 18 months while denying us access and not paying rent. This is like something out of a horror film. Last week, I called the hone owners insurance to notify them the pool was removed, thinking our costs might be lowered -- -- to find out that Wells Fargo reported the home to the city, and our insurance company as in foreclosure and VACANT. HOW IS THIS EVEN POSSIBLE WHENI HAVE BEEN LIVING HERE AND RENOVATING THE HOME FOR OVER 8 months? The water was shut off illegally on me ( even with up to date payments, in XXXX ), but nobody could shut the water off in XXXX when the water bill balance was over 500 dollars, and deem it unlivable when it was infested with rodents, feces, and mold to ensure the squatters would stop living there part time and get OUT! Now, I have had it. Our family is a middle class suburban family, doing our best. I have now spent over XXXX investing in completely remodeling the home. Comparable to other homes, with the remodel almost complete, the home would be worth well over the cost of the original loan, so OFCOURSE Wells Fargo wants to foreclose!! that way they can double dip. Auction off the property, write off the losses on their taxes, and get it back dollar for dollar ; all while screwing over the middle class Americans so the big corrupt corporations can get bigger. Welcome to AMERICA. Nobody has been able to help us, and its emotionally, financially, and physically destroyed my family 's well being.
Company Response:
State: IL
Zip: 60452
Submitted Via: Web
Date Sent: 2023-06-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-14
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: I am writing to file a formal complaint against Wells Fargo for their handling of fraudulent charges on my business debit card. On XX/XX/2023, I noticed unauthorized charges amounting to {$6200.00} on my business debit card. These charges were made by XXXX and XXXXXXXX XXXX and I did not authorize them. I promptly reported these charges to Wells Fargo, expecting them to investigate the matter and refund the fraudulent charges as per their obligations under the law. However, when I called Wells Fargo on XX/XX/2023, for an update on my case, I was informed that my claim had been denied.I believe it is unjust given the circumstances as well as the excessive amounts charged on my card. I am deeply disappointed with Wells Fargo 's handling of this matter. Not only have I suffered significant financial loss as a result of these fraudulent charges, but I have also lost trust in my bank 's ability to protect my financial interests. I kindly request the Consumer Financial Protection Bureau 's assistance in resolving this matter. I believe that Wells Fargo should reconsider my claim and refund the fraudulent charges on my business debit card. Thank you for your attention to this matter.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 89081
Submitted Via: Web
Date Sent: 2023-06-14
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I had two Mortgages with Wells Fargo Bank. The first Mortgage ( XXXX # : XXXX ) with a principal balance of {$720000.00} was paid off on XX/XX/2020. The 2nd Mortgage ( Loan # : XXXX ) with a balance of ~ {$280000.00} is still active. During the XXXX period in 2020, i took Covid-19 Deferral for both mortgages for the exact same period ( due to Covid Deferral my mortgage payments were deferred ). In 2020 i received a letter from Wells Fargo saying on my mortgage that is still active ( Loan # : XXXX ) Wells Fargo Overcharged me for Deferred Interest ( something to do with interest rate change occurrence ) and gave me a refund/interest rate adjustment of {$3900.00} and a check for {$370.00} for a total of {$4300.00}. I then contacted Wells Fargo and said this interest rate change occurrence also applied to the other mortgage which i paid off in ( Loan # XXXX ). This loan had a principal balance of {$720000.00} and then Wells Fargo made me pay {$740000.00} or + {$15000.00} due to interest and " other charges ''. I believe this includes Deferred interest due to Covid 19, and this interest calculation is incorrect ( made the same mistake as my current loan ). I wrote to Wells Fargo 3 times on this, and they have not responded. Since the mortgage is paid off they do not want to open a can of worms because if this mistake applies to all loans with Covid 19 Deferral that were paid off Wells Fargo will have a big liability on their hands. I would greatly appreciate your assistance in looking into the interest calculation for both loans ... and check if the mistake made on the loan where they gave me a refund applies to the larger loan. The dollars are very material for me. Thank you
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 28804
Submitted Via: Web
Date Sent: 2023-06-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-14
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Hello, we have a mortgage with Wells Fargo for XXXX XXXXears, we also had a XXXX XXXX bankruptcy which didn't include the mortgage, during this process Well Fargo received XXXX from HUD in addition to regular payments, we recently sold the house and WF is claiming we owe XXXX plus the XXXX from HUB, the original house price was XXXX and we have been paying over XXXX a month for XXXX years, approx. XXXX, we asked for an audit to see where all this payments have been applied and we get the run around, we know interest takes a lot of what we paid but it seems that owing more that was we paid originally is a bit much, we want out account to be audited and have no proper direction on how to do this, any assistance would be appreciated.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 02703
Submitted Via: Web
Date Sent: 2023-06-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: Wells Fargo wire transfer claim # XXXX On XX/XX/2023 I was a victim of fraud. After receiving a fraud text alert from Wells Fargo I checked my account and there was indeed debit card fraud on my account. After replying " no '' I didn't authorize the transaction I was immediately called from an XXXX number belonging to Wells Fargo. The person on the phone said he was with Wells Fargo Fraud Department and there were multiple transactions on my account that he wanted me to verify. I was sent a 6 digit verification code to my phone to verify my identity. I was told that my account was being locked due to the amount of fraud happening and to please log into my account via a secure text portal from Wells Fargo which I did. Unknowingly I had just given these criminals my user name and password. They then logged into my account and proceeded to initiate a wire transfer of {$7500.00} to XXXX XXXX. When I realized that I wasn't talking to Wells Fargo and instead the scammers I immediately hung up and directly called WF Fraud dept. and told them what had happened. They issued a swift recall on the wire but were unable to get the money back bc it had already been taken out of the account it was wired into. I later received a letter from Wells Fargo disputing that this transaction was fraud and that I had willingly given them the wire transfer verification code needed to complete the transaction. I never received any texts from Wells Fargo concerning a wire transfer. I have no idea how they were able to complete the transaction or if one of the codes sent to my phone was indeed a wire transfer code which the criminals knew I would be getting bc they were in my account attempting to wire money. I was asked to read back a code for verification of my identity but never would I willingly authorize a wire transfer. I have talked to the de-escalation department of Wells Fargo and also filed a complaint against the company but they have continued to deny this as fraudulent. This case is 100 % fraud and any information given to these criminals was obtained through fraudulent methods.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30068
Submitted Via: Web
Date Sent: 2023-06-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-13
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My Home Equity Line of Credit was initially opened in 2007 with Wachovia Bank, N.A. for {$100000.00}. I have been told that the initial payments were considered interest only. Monthly payments made timely have not been applied to the principal. Each monthly payment is applied to finance charges only. No matter the amount paid, the payment is only applied to finance charges for the exact amount paid. Ex : {$600.00} payment Finance Charge- {$600.00} {$350.00} payment Finance Charge- {$300.00} The PRINCIPAL amount has remained at {$97000.00}. I have been paying on this HELOC for ten years and the principal balance is still {$97000.00}. Wells Fargo has me making back payments from XXXX to the present because they were considered partial payments and yet the total monthly payment due balance keeps increasing and the principal balance remains {$97000.00}. In ten years, Wells Fargo has never paid the real estate taxes on my property but this year they did after I had already paid them. I have submitted a letter of error for Property Charges and Fees with documentation of the errors but to no avail. I have financed and paid off a mortgage and financed and paid off cars. I have never experienced monthly payments only being paid to finance charges for the exact amount of each payment and not applied to the principal balance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30311
Submitted Via: Web
Date Sent: 2023-06-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-13
Issue: Problem caused by your funds being low
Subissue: Overdrafts and overdraft fees
Consumer Complaint: I left Wells Fargo awhile back after 2017 give or take. Numerous overdraft fees every day all because my account went XXXX dollars under. Then I get charged XXXX dollars a day. So before I realize my account is negative by XXXX dollars I owe XXXX dollars. I went on a cruise and my account went negative by cents. And I received a fee every day while I was out of country and they would only compensate me for half of XXXX dollars in one week of overdraft fees. I was wondering if there was any compensation for me through the law suit.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30542
Submitted Via: Web
Date Sent: 2023-06-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: On XX/XX/2023, a thief : ( 1 ) fraudulently accessed my Wells Fargo online accounts by using an unauthorized and unknown device, ( 2 ) enrolled my account into online wire transfers, and ( 3 ) fraudulently transferred by wire all of the available money from each account ( checking, savings and brokerage ), {$22000.00} in total. More specifically, once the thief accessed my online account, the thief made an unauthorized electronic fund transfer in the amount of {$9000.00} from my brokerage account to my checking account. Then, the thief fraudulently transferred by wire the {$9000.00} to another bank. The thief also made an unauthorized electronic fund transfer from my savings to my checking and then fraudulently transferred by wire the entire balance of {$13000.00}. This fraud was reported in real time to Wells Fargo, by both myself and my wife, within minutes of the fraudulent transactions. Despite real time notice of the fraud, Wells Fargo failed to : ( 1 ) recover the fraudulent transfers ; ( 2 ) failed to conduct an adequate investigation ; ( 3 ) failed to have adequate safeguards to identify, monitor and detect fraud despite its commitment to do so ; ( 4 ) open a Regulation E investigation despite its legal requirement to do so. Instead of complying with its legal duties, Wells Fargo simply blamed me without any adequate investigation and declined to return the stolen {$22000.00}. Please see that attached letter to Wells Fargo which goes into more detail.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 35216
Submitted Via: Web
Date Sent: 2023-06-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-13
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: Wells Fargo Dealer Services changed the due date multiple times during the loan without my knowledge. It was changed on XXXX. This resulted in several late fee penalties incurred. My payments were reversed without my knowledge. These dates XX/XX/XXXX, XX/XX/XXXX ( 2 payments ), I was charged a returned payment fee of {$30.00} on XX/XX/XXXX on a payment they reversed and late fees after the reversals. Because of the deferments that I did not authorize it has extended my payoff schedule. The balance due is more than what it should be. I have made 61 payments as of XX/XX/XXXX based on the printout they sent. Those payments total {$30000.00}. Per my contract, the total price paid after all payments are complete is {$35000.00}. My balance as of XX/XX/XXXX was {$7000.00}. I have 11 more payments of XXXX which would only add up to {$5400.00} if the entire payment went to principle which it will not. There is a huge discrepancy in the numbers. The late fees that were added were paid with the next months following payment. My paperwork from Wells Fargo has a loan maturity date of XX/XX/XXXX so I'm not sure how I have so many months left to pay and a balance over {$7000.00}.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: SC
Zip: 295XX
Submitted Via: Web
Date Sent: 2023-06-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-13
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: We sent a check to our vendor for payment, they did not receive the check, but we show it as cash. We filed a complaint with XXXX XXXX as the check was stolen and deposited at a Wells Fargo bank. The vendor does not bank with Wells Fargo. The check was deposited via banking app and deposited. We filled out the attached paperwork and affidavit. This check was cashed back in XX/XX/2022. Wells Fargo has been unresponsive and acknowledging or answering any of the letters and demands for payment. This is a {$7000.00} check.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32164
Submitted Via: Web
Date Sent: 2023-06-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A