Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Home equity loan or line of credit Settlement process and costs Washington

Forgive the tardiness of this complaint, but I just learned this week through reading the - - - that the CFPB works with banks to resolve customer complaints. Until now, I did not know what recourse I might have for the fraudulent behavior of Wells Fargo Bank. In -/-/- or -/-/-, my partner and I refinanced our mortgage on a property we own in - - with Wells Fargo. We made a point to confirm that there were no prepayment penalties associated with this new mortgage. At the time, the Wells Fargo representative aggressively pushed a home equity line on us, even though we did not need it, want it, or ever intend to use it. Since he said it would cost us nothing, and he was so insistent, we reluctantly accepted it. In - -, we refinanced our mortgage again, but with a different lender. When it came time to close on the new loan, Wells Fargo refused to terminate our existing mortgage unless we paid a $500.00 termination fee for " early termination of our home equity line '' - which


We believe that - -, " Home Mortgage Consultant '' at Wells Fargo at the time, fraudulently induced us into accepting the untapped home equity line. We would appreciate any help that CFPB can give us to persuade Wells Fargo to refund the $500.00 termination fee to us. I have attached a copy of the Wells Fargo payoff demand dated - -, - and our email correspondence on -/-/- and -/-/- with various employees of Wells Fargo ( including - - ) regarding this issue. Please note that my name and that of my partner are listed as " customer '' on the payoff demand statement and that both of us corresponded with Wells Fargo in the attached email thread. Thank you for your consideration.