Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Kentucky

I made a request to Wells Fargo Home Mortgage to close an escrow account on - -, 2017. At that time I was informed by Wells Fargo that it takes them 7-10 business days to close an escrow account. Due to an issue with Wells Fargo applying funds to my account, the actual account closing was n't processed until - -, 2017. The account was actually closed by Wells Fargo on - -, 2017, - business days later. According to Wells Fargo a check was cut on - -, 2017. Since I had not received the check from Wells Fargo by - -, 2017 I called them back to inquire as to why I had not received the disbursement. The representative informed me that a check was cut on - -, 2017. However, after inquiring further and after the representative dug further, apparently the check was not actually sent until - -, 2017, - days later or 3 full business days. I believe that this is a intentional effort by Wells Fargo to delay sending funds to their customers in order for them to take advantage of interest earned on balances held during the float period.