Today we are reviewing Wells Fargo consumer complaint narrative Complaint ID 1805674 filed with the Consumer Financial Protection Bureau on February 26, 2016. This is an example of a possible loan servicing error involving payment to an escrow account for a FHA mortgage. This narrative shows the nature of a loan servicing problem and the level of frustration the homeowner feels in dealing with Wells Fargo.
COMPLAINT ID 1805674
( WELLS FARGO BANK , NATIONAL ASSOCIATION ) is the bank that holds my mortgage, they are consistently mismanaging my escrow account. Almost every year since they brought out my mortgage from another company at the end of each year I ‘ve had the payable payments of more than {$2500.00} sometimes a little less for their claims of my escrow always constantly being short. Even as my land taxes went down three years in a row, my escrow for some reason was always short. When he forced me to pay the extra balloon payments at the end of each year, they tell me that this little payment make my escrow have an overage. So XX/XX/XXXX if I paid {$2500.00} plus my motley mortgage fee of {$1400.00}, doesn’t this mean that I now have a surplus of escrow. Now with that being said consider the fact that my land taxes decreased, my home owners insurance decreased from XX/XX/XXXX to XX/XX/XXXX ; why am I still left with a escrow shortage. I believe his bank is consistently committing theft by deception, and I will be immediately looking to my local law enforcement agency to file those criminal charges against Wells Fargo.
The Company public response was as follows: “Company has responded to the consumer and the CFPB and chooses not to provide a public response.”
While the homeowner wants to look to local law enforcement agency to file criminal charges, they would be able to file a complaint with not just the CFPB but take legal action on their own behalf in federal court with the help of an attorney to represent them who has knowledge and experience bringing this kind of case to federal court.
The law firm of Denbeaux and Denbeaux reminds homeowners that “if you are facing collections, and you believe that in the context of collections, a loan servicer, or a law firm that they have retained, has sought to collect from you a sum that is not owed, even if a portion of the debt is legitimate, if they have tacked on additional fees that you believe are inappropriate, you may have a claim and you may be entitled to relief under the Fair Debt Collection Practices Act.”
