Complaint Review: Wells Fargo Mortgage

Wells Fargo rejected the payoff of my morgage, demanded more money than the payoff quoted and paid, and costed me an additional wire charge! Recently, I paid off my home morgage. Before wiring funds, I called Wells Fargo TWICE, once to verify the payoff amount and PROCEDURES, and a second time to verify the correct routing number.

As instructed by Wells Fargo, my bank wired the CORRECT amount of money to Wells Fargo, referencing my loan number, AND received a confirmation that the money was received by Wells Fargo (all before the required time of 2 p.m. Central).

A few hours later Well Fargo REJECTED the payoff! Suddenly they claimed that my loan information wasn't enough and that the wire needed to be sent to another account belonging to Wells Fargo! They insisted my bank wire the funds again, and then, and only then, would Wells Fargo ACCEPT MY MONEY AND 'pay off' my loan.

My bank representative immediately sent the wire again (i.e. same day and within minutes of Wells Fargo 'rejection' of my money!). Wells Fargo accepted the wire. However, then Wells Fargo insisted that they needed MORE MONEY now to payoff the loan, or they WOULD refuse to release the documents. In addition, I was charged an additional wire fee from my bank because Wells Fargo rejected the first wire! WHAT A RIPOFF!!! IT'S APPARENTLY THEIR LITTLE WAY OF GETTING AN EXTRA DAY'S INTEREST AT THE EXPENSE OF THEIR CUSTOMERS.

In addition, customer service is extremely poor overall. For example, it is virtually IMPOSSIBLE to speak to a manager or supervisor either in morgages or in their call center! Their people are trained, even when the manager is literally standing right next to them, to keep asking for information and refuse to let you speak to a manager! HORRIBLE SERVICE. AVOID WELLS FARGO MORGAGE!

Peggy
Sugar Land, Texas
U.S.A.