Wells Fargo Home Mortgage Complaint - Wells Fargo Home Mortgage Mistake Costs Customer Plenty
IA -- At the end of a long process trying to refinance my mortgage. In order to close on the new loan, I need a payoff letter stating the correct amount of interest and principal owed on my existing mortgage. Wells Fargo sent the attorney for my new lender the wrong information, because they failed to apply my last month's payment to the correct loan.
I've spent hours and hours on the phone with their customer service department, collections department and various supervisors. I've faxed over the canceled check several times. Even though Wells Fargo admits to their error, for some reason they can't get the corrected payoff letter generated in time. That is just plain ridiculous!
As a result, I will suffer. I can either delay the closing, which means I would have to resubmit financial documents to the new lender and which will have to be approved all over again; OR I can bring an additional $3,000 to the closing to give to Wells Fargo, who will return any excess monies to me within a undisclosed period of time.
Why is this legal?