WELLS FARGO COMPANY

2017-05-22

Bon Air, VA

Closing on a mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2017-05-22

Hammond, IN

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Lakeview, NY

Advertising and marketing, including promotional offers

Credit card or prepaid card: General-purpose credit card or charge card

Confusing or misleading advertising about the credit card
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

NJ

Other features, terms, or problems

Credit card or prepaid card: General-purpose credit card or charge card

Problem with rewards from credit card
Complaint: On XXXX XXXX , 2017 I responded to promotion b y Wells Fargo, in obtaining a Visa card from them. The promotion stipulated, " {$200.00} Cash Rewards Bonus when you use your new card to make {$1000.00} in purchases in the first 3 months. '' I saved PDF of the promotion and the application, which I electronically submits to Wells Fargo . On XXXX XXXX 2017 I faxed their Executive O ffice ( XXXX , XXXX , and XXXX ) about refusal of the Rewards Departmen t of W.F., in givin g me the {$200.00} cash-reward, as I had already ( 1 ) spent over {$1000.00} using the W.F . credit card and ( 2 ) paid off the outstanding balance on the credit card. In so doing, I also faxed them the PDF of the promotion, upon which I had obtained the credit card. Attached please find PDF of the promotion, to which I responded. and my letter to W.F. Apparently, W.F. , was telling me that ( 1 ) instead of the {$200.00}, they wanted to pay me {$150.00} and apparently they wanted to defer the {$150.00} payment to XXXX 2017 . Soon after opening the account, it became clear to me that there was absence of integrity and banker 's mindset deeply rooted at W.F., upon which I stopped using their credit card, altogether. Further, I probably shall commence legal action agains t W. F., should they fail, in paying off the {$200.00} to me by XXXX 2017 . They are numerous other issues with W.F. Credit Card, such as their refusal in paying the rewards promised as percentage of your spending, as they demand to pay such rewards in {$25.00} or {$50.00} incriminates. As such you can not only redeem {$50.00} on a {$70.00} accumulated rewards.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2017-05-22

Doylestown, PA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Augusta, GA

Closing on a mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Dallas, TX

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Huntsville, AL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Lender improperly moved for foreclosure judgment or sale before one of the following occurred : ( i ) the institution notified the borrower that it had denied the loss mitigation application for any loss mitigation o and if an appeal is available, either the appeal period had expired or the appeal had denied ; ( ii ) the borrower rejected all the offered loss mitigation options ; or ( iii ) the borrower fails to perform under a loss mitigation agreement ( 12 CFR 1024.41 ( g ) ). Currently in review for modification and citing " dual tracking ''.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: In XXXX 2017 I went to the Wells Fargo ( WF ) office in XXXX California to apply for a mortgage to buy a second home and met with loan officer XXXX XXXX. In later correspondence with the loan officer over phone and email the attached pre-approval letter was issued on XXXX XXXX 2017. I recently learned from a licensed mortgage professional that the pre-approval letter that WF gave me was not even close to conforming to XXXX XXXX or XXXX XXXX guidelines. Apparently WF miscalculated my debt-to-income ratio ( pertaining to new student loan guidelines ) and the 10 % down written on the pre-approval was n't even possible and this kind of loan would require a 15-20 % down payment. I entered a contract to purchase a second home in XXXX, CA in mid XX/XX/XXXX. We contacted Wells Fargo and I received a request from Wells Fargo to provide all my financial records providing assets on XX/XX/XXXX as well as a request for all of my financial records ( email attached ). I replied by email ( Attached ) and provided all the requested financial records. I received a loan estimate on XX/XX/XXXX after providing my income and bank record statements upfront ( attached ). According to the CFPB website I believe that this process was unfair. I received differing rate lock forms on Wells Fargos loan tracker website on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. Each specified varying terms and incrementally increasing interest rates. I believe that I should had been entitled to revised loan estimates after changing these terms to inform me of the changing numbers, terms, and the breakdown of the bottom line, but I did not receive these. This was all done electronically and not explained to me. Due to defects on this home I cancelled the loan process and searched for another place. I entered into a new contract to purchase a place in XXXX, CA and I immediately contacted my WF loan officer XXXX on XX/XX/XXXX and attached the contract to my email ( please reference CFPB complaint # XXXX ). On XX/XX/XXXX ( email correspondence attached ) I was contacted by WF and I was requested to submit a number of financial documents upfront, apparently, to justify that I had the funds and was requested to pay a {$570.00} appraisal fee. On XX/XX/XXXX I received the attached loan estimate and I received the attached rate lock agreement on XX/XX/XXXX. Although the XX/XX/XXXX loan estimate indicated a rate lock, I received a new rate lock agreement on XX/XX/XXXX which had a higher interest rate. I also received a different rate lock agreement on XX/XX/XXXX. I later realized that the terms of the loans were changing throughout the process and it wasnt explained to me. I believe that I should have been entitled to new loan estimates so that Id know the changing numbers and bottom line. I believe that my consumer rights were repeatedly violated in this process. On a couple of occasion I requested a loan decision prior to 30 days and I never received one. It has been 5 weeks and I still havent received a decision. As a result I was forced to cancel my contract. My primary concern is that I observed this pattern of violations in the XXXX Wells Fargo office in two separate loan application processes. I suspect that multiple Wells Fargo staff were involved in these processing errors/violations and XXXX has a very large XXXX and XXXX minority population. If these violations are indeed the pattern that I suspect, the magnitude of these violation could be substantial. According to the CFPB website, as a consumer I have the right to certain types of information so that I can make informed decisions in an open market place. Wells Fargo offered me a loan with a 10 % down payment when the marketplace typically requires 15-20 % down payments. I was told that I met the criteria to qualify for a loan based upon my financial situation and being providing a pre-approval. Upon entering into contracts and prior to receiving loan estimates Wells Fargo requested to rigorously scrutinize my financial situation upfront, which I believe is intrusive. I believe that they delayed the provision of the loan estimate and the loan process in general, which hampered me from knowing what the numbers were and precluded me from seeking other options. They changed the terms on my loan after the loan estimates were provided on several occasions and failed to provide me with new loan estimates so I was blind going into this process. I suspected the process was unfair but went along with it because I was attracted to the terms that were offered in the pre-approval process, but they kept changing electronically throughout the process without explanation, which I believe was unfair.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

NC

Closing on a mortgage

Mortgage: VA mortgage

Complaint: After receiving a Reduced Rate Sales call from our existing Mortgage Provider, my husband agreed to submit an application for a VA Mortgage Refinance. Roughly 30 days later the deal closed ( XX/XX/16 ) with 1st payment due in XX/XX/XXXX. In XX/XX/XXXX we received a Letter of Demand for Outstanding 2016 Property Taxes ( delinquent XX/XX/XXXX ). It was a Final Notice before publishing our names in the local newspaper with a threat to garnish wages, bank accounts etc. After numerous calls to the bank, we were told that the taxes were paid 'on time ' from the now refinanced Escrow Account, but that was INCORRECT. After realizing the mistake, Wells Fargo proceeded to pay the delinquent taxes from the new loan escrow account while conducting a formal investigation into the matter. This has been an Official Complaint since XX/XX/XXXX & with every passing deadline for answers, they are still yet to provide any. The issues are as follows ; - Questionable Sales Practice, negligible benefit/ savings to customer. Nominal ( 0.5 % ) rate reduction, extended loan term, origination/ closing fees added to principle. - Although projected, Taxes Not Paid from 1st Escrow Acc't resulting in 6 month delinquency, why? - {$2400.00} - MISSING from 1st Escrow, still unaccounted for. - Bank Explanation ; Insufficient funds to close 1st loan, Incorrect payout figure, balance taken from escrow..??? - Incorrect Payout figure on banks own refinance, how is that possible? - What was the 1st loan Payout Figure? As asked in XX/XX/XXXX, still no answer. - Although joint title holder, Did the bank conduct Credit Check on non-borrowing spouse, without permission? - Closed VA Loan with property taxes in arrears. How? - Escalated to official complaint in XX/XX/XXXX, was contacted by bank rep/ customer liaisons officer handling the investigation who promised to make contact within 6 days ( as required by law ) to give update ( not outcome ) This did n't happen. XX/XX/XXXX thru XX/XX/XXXX zero contact. - XX/XX/XXXX. Contacted by different rep stating investigation still ongoing, XX/XX/XXXX projected date for outcome ... .. XX/XX/XXXX, no answers new projected outcome. XX/XX/XXXX. - Against our wishes, as stated in original complaint due to ongoing investigation. Bank is now debiting funds over & above mortgage payment, to make up difference in new escrow account. - Was the missing ( {$2400.00} ) from 1st escrow acc't used to offset new loan origination costs & closing fees? - Is Wells Fargo attempting to sell the servicing of loan to another provider while investigation still ongoing? The serious nature of our complaint is obvious and without answers, egregious. We have completely lost faith in the ability of Wells Fargo to manage this loan. Without recourse they can do what they wish, take what they want, leaving little room for the consumer to hold them accountable to the rules & regulations that are meant to protect us..
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2017-05-22

Brooksville, OK

Other features, terms, or problems

Credit card or prepaid card: General-purpose credit card or charge card

Problem with customer service
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Arcata, CA

Dealing with your lender or servicer

Student loan: Private student loan

Received bad information about your loan
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2017-05-22

Lewisville, TX

Problem when making payments

Payday loan, title loan, or personal loan: Installment loan

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Untimely Response

2017-05-22

Teaneck, NJ

Charged fees or interest you didn't expect

Payday loan, title loan, or personal loan: Personal line of credit

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2017-05-22

Farmington, UT

Trouble during payment process

Mortgage: VA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Timely Response

2017-05-22

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Vernon Hill, VA

Fraud or scam

Money transfer, virtual currency, or money service: Domestic (US) money transfer

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Charlotte, NC

Problem with a purchase shown on your statement

Credit card or prepaid card: General-purpose credit card or charge card

Credit card company isn't resolving a dispute about a purchase on your statement
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Fontana, CA

False statements or representation

Debt collection: Auto debt

Attempted to collect wrong amount
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Chicago, IL

Trouble during payment process

Mortgage: Other type of mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2017-05-22

Nyc, NY

Managing an account

Checking or savings account: Checking account

Banking errors
Complaint: As stated in Wells Fargo XXXX XXXX , 2017 letter : SEE ATTACHED LETTER " Subject : Stolen bank transactions with your name and ac count number We want to let you know Wells Fargo Bank transactions were stolen on XXXX XXXX , 2017 from XXXX XXXX , Florida while in transit to our service center. The transactions included check ( s ) issued by you .... '' I might add that my check also included my home address. Except for putting the onus on me to prevent identity theft or other fraud, Wells Fargo offered no assistance. I find this stunning and irr esponsible! I tried to discuss this matter with XXXX , a customer service supervisor, who refused to provide his last name and hung up on me when I asked why he would not provide it. This rudeness obviously exemplifies the Wells Fargo culture and pure lack of concern and care for customers! I look forward to hearing from you. Thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Broadway Manchester, CA

Trouble during payment process

Mortgage: Reverse mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Livingston, MT

Getting a credit card

Credit card or prepaid card: General-purpose credit card or charge card

Card opened as result of identity theft or fraud
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Visalia, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-05-22

Winton, CA

Other transaction problem

Money transfer, virtual currency, or money service: International money transfer

Complaint: I had sent {$65.00} on XXXX XXXX 2017 to XXXX . When the beneficiary went to pick up the money they had told her that the order of her name did not match the order they had and she could not collect the money. When I found out of the problem I wen t to Wells Fargo we re I had sent the money from on the XXXX , XXXX , and the XXXX of XXXX 2017 and every time I went they told me they could not do anything and this is not the first time this has happened.I would like to get this problem fixed since the money is really needed by the beneficiaries.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response