SEATTLE, WASHINGTON -- Recently I read an article about Wells holding a check for processing and then proceeding to enact a forclosure because of no payment. The call in that article was for a class action suit against Wells Fargo, and should an attorney take that call, I want to be on board.
Not only does Wells Fargo have the worst customer service in the financial industry in my opinion, the mortgage department is particularly contemptible. The mortgage department is in an office on the East Coast, one is never able to speak to the same person twice, and everyone has a different answer for the same question.
I've lived in my home for ten years. In 2006, due to extenuating circumstances (a death in the family, a disability, job change) I fell behind in my mortgage. I contacted Wells Mortgage Dept. (one can't go in to a local Wells Fargo and sit down and speak with someone) and told the rep of my difficult situation. I was told by the Wells rep that they would put me on an extension, NOT to pay anything for a month, and then pay $50 more on my payment on a date the rep specified. I understood that the payment would go on the end of the loan and my payment would go up by a small amount.
When I changed jobs and got a raise in pay, I again called Wells Fargo, because my paydates had changed and I wanted to pay my mortgage on a different date than was specified. Wells Fargo said, "don't pay anything for another month, then pay $20 more on this date." I missed that date by one day because of my payroll(I was new and didn't know that payroll would fall two days after a holiday). I went in to a Wells Fargo to pay my mortgage payment and they refused to take it because they said my home was in foreclosure. I had no idea. The local Wells office called the Wells mortgage department in Minnesota or wherever..they were just closing, (we waited like I always have for 30 minutes or more,) and the mortgage department said there was nothing that they could do, that they were closing for the day. Twice I'd been told NOT to pay until a certain date, and I foolishly did that, not knowing that they were adding interest and late charges to my mortgage payment to the tune of over $8000.
My complaint is that Wells Fargo didn't provide full disclosure, that the time I spent on the phone attempting to get answers and resolution equated to a two week paid vacation, and that I was inaccurately, in my opinion,charged $8,000+ which is what Wells determined I owed on late mortgage payments.
On my part, I truly didn't understand what Wells had been proposing, or I never would have waited to make my payments. I have a good job and could have made the payments on time. I thought Wells was re-writng the loan agreement, putting the one month I was late on the end of the term, and simply raising the payment I contacted the OCC (Office of Currency Controller) and the State Attorney General office of Wa. with a complaint about Wells Fargo and their practices to no avail. I also wrote to the President of Wells Fargo and got no response. It takes an enormous amount of energy and time to fight a corporation like Wells Fargo. If an attorney or Senator contacted Wells perhaps they would take notice, but not a complaint from a homeowner.
As we watch other large banks and mortgage companies sustain losses,(Washington Mutual and Countrywide for example)I can only hope that an attorney will eventually take a look at the countless complaints against Wells Fargo and do something about the ineptitude, poor customer service and misleading practices that in certain cases are causing unnecessary forclosesures and banruptcies.