Wells Fargo & Company Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

Wells Fargo & Company Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Pennsylvania

Wells Fargo was supposed to review our complaint on case # - by -/-/-. This was n't long enough to decide what our escrow shortage was, so they extended the review to -/-/-. This date has now expired and Wells Fargo still can not determine the actual shortage of our escrow. We had a shortage of $6.00 in -/-/- when our property/school tax was paid. For -, we have a projected shortage of $41.00 due to a slight increase in our homeowners insurance. We are willing to pay the - shortage of -, and the projected shortage of $41.00 for - as two separate checks. Wells Fargo has calculated a projected shortage of $62.00, but then increased our mortgage payments to indicate an increase of $100.00 for -. When I was finally able to get - on the phone on -/-/-, he asked me how I calculated the amount of $41.00. I explained it was simple math. I added our current escrow of $390.00 for 12 months, which equaled $4700.00 and subtracted that number from our total taxes for - which equaled $4800.00. The difference was $41.00, not $62.00 or $100.00. I 'm not sure why it is taking - so long to calculate, but our mortgage was due -/-/- so we would like resolution on our escrow.

Wells Fargo & Company customer in Pennsylvania
Jan 01, 2017

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

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