Complaint Review: Wells Fargo Home Mortgage

My husband and I decided to refinance our mortgage two years ago, for a lower interest rate. We choose to use the services of Greentree mortgage. It turned out to be the biggest nightmare of our lives. Greentree sold our mortage to Wells Fargo Home Mortgage.

Everything seemed to be going well the first couple of months. We were making our payments on time, even sending extra to be put to our principal. About six months into it, we received a letter from Wells Fargo saying we were a month behind. Immediately I called to see what was going on. The customer service proceeded to tell me that they hadn't received our payment. I told her I mailed it out. She instructed me to go to my bank and see if the check had been cashed. I drove to the bank, they gave me a copy of the cashed check. So I called Wells Fargo back to let them know the information I was given. When I explained the situation to a new customer service person, the lady responded, No, No maam, your check the previous month had bounced. I told her it was impossible. She told me I needed to go to my bank and find out why my bank had refused to make payment and her computer showed non sufficient funds is what she told me. Dumb me, I drove to my bank, again. Only to be told that my account did not have any record of non sufficent funds. So I wised up and filled out a request for all cancelled cashed checks written to Wells Fargo. Armed with all checks, I called back. This time after presenting my proof and offering to fax them. I was told yet another reason why we were a month late. I was told that when they bought my mortgage I was behind a month with my previous lender. So I called my previous mortgage company and asked them to send me proof that my mortgage was current and they did. So I called Wells Fargo back again and they gave a name and number of the mortgage company I had never heard and said they reversed the payment to them. I told the lady I had never heard of that mortgage company. SHe said it was my responsiblity to recover my money from this mortgage company. In the meantime, she was demanded the month payment. I refused to pay until I spoke with the mortage company that claimed we owed them a month mortgage. Little to my surprise, I called, called,called and left message after message. No one ever returned my calls. Wells Fargo reported this deliquency on my husband and my credit reports. Out of defeat and not knowing what else to do we paid the amount for a second time. We were scammed but what could we do? The extra money I was sending to be applied to my principal was put in the escrow.

It continues,
In August of 2005 we received a letter from our homeowner insurance saying our policy had been cancelled for non payment. Our taxes, home owners insurance, flood insurance was to be paid through our escrow. So I called Wells Fargo only to be told the payment was sent back to them. I not so nicely told that customer service that I highly doubted it. THen she proceeds to tell me "well, you better hope your house doesn't burn down." I replyed that Wells Fargo would be resposible! It took a month before they made the payment and my home went without insurance.

It continues,
Then we get a notice of insufficent flood insurance and we needed to contact our flood insurance and increase it to what Wells Fargo felt was the appropriate amount of coverage. I called to dispute the amount I felt my house was not valued at the amount of coverage they required. I did not comply and they in turn got their own flood insurance and charged us $75.00 a month.

After all of this we decided to refinance. However with deliquent payments reported from Wells Fargo we were not offer very good rates. We had to get away from Wells Fargo, we were afraid some how we would lose our home.
So we refinanced and took a higher interest rate, 3 points higher. From beginnning to end, the refinance company gauranteed us for the life of our loan Wells Fargo and non of its affilate companies will ever handle our mortgage. Not even six months later we received a notice from Wells Fargo and a welcome call. America's servicing company bought our loan. I called to confirm and Wells Fargo is their parent company.What do we do? Who do we contact? This is the truth, the whole truth. In my personal opinion Wells Fargo is the WORST mortgage company. I have no reason to lie, my homeowners dream has become a nightmare.

Jennifer
Pennsville, New Jersey
U.S.A.

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