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800 - 900% Lender Placed Insurance Premium rip off

We are complaining horrific mortgage LENDER PLACED INSURANCE PREMIUM RIP OFF by American Servicing Company, American Security Insurance company, & Assurant Specialty Property. (American Servicing Company is A WELLS FARGO) 1.Exorbitant 800 – 900% Lender placed insurance premium without any notice. We provided Home owner’s insurance policy covering from Aug 2006, so there was about 1 month and 2 weeks of lapse which they claimed they notified us to cover from June 2006 which we never received and we demanded them to provide the proof of such notice but they failed to provide. 2.Excessive 800 - 900% gauging – if it is not illegal, it is willful exploitation. For mere 1 month 2 weeks short lapse, they charged insurance premium whopping $1568.52 ($1078 + $490.90), prorated abut $8000 yearly for DWELLING ONLY without any liabilities for COVERAGE AMOUNT $750,000 while comparable industry average Dwelling only premium for that coverage is about $1200 YEAR. 3.Unilateral lender placement charge –BETRAYAL OF CUSTOMER’S TRUST. They unilaterally insured at the highest gauging amount of premium THRU THEIR OWN INSURANCE COMPANY WITHOUT CUSTOMER’S CONSENT. They betrayed customer’s trust to profiting themselves, which should be breach of fiduciary duty. This self-dealing insurance premium rip off is directly hurting consumer and should be stopped. When we complained, ASC replied they sent notice to us on July 17, 2006 which we never received and we demanded proof of notice they delivered to us but they refused it and failed to prove they gave us notice. 4.Unilateral deduction from Mortgage payment and started to charge late fee. Despite we paid full amount of monthly mortgage payments every month in time without any skip, ASC took the gauging insurance premium away from our mortgage payment unilaterally and did not applied our payments to monthly mortgage payment and started to charge late fee. THIS WILFULL EXPLOITATION IS HURTING CONSUMER AND MUST BE STOPPED. Despite of our complaints in the past a year to correct it, they are keep charging late fee and harassing to foreclose. THIS MUST BE STOPPED. PLEASE HELP TO PROTECT THE CONSUMERS. THIS IS WILFULL AND DELIBERATE EXPLOITATION BY GAUGING INSURANCE PREMIUM. 5.Retroactive insurance premium charge should be stopped – if not illegal it is wilful exploitation. OUR INSURANCE POLICY COVERAGE DATE WAS AUGUST 2006. ASC'S LENDER PLACEMENT INSURANCE BINDING AND NOTICE DATE WAS OCTOBER 2, 2006. NONTHELESS, ASC CHARGED RETROACTIVELY FROM JUNE 2006 6.ASC confessed it was their error not able to notify to us as ASC audit team discovered later there is no hazard insurance on our mortgage after they purchased the loan from Ohio Savings bank, this facts were confirmed by ASC employees “Miss SHANE, and Miss ALICIA both working in Frederick, MD office. 7.Despite of all above, not only there was no fire on my house during the lapse period but also WE NEVER MAKE ANY ERROR ON OUR SIDE for that short lapse, in fact it was their error as they confessed. Therefore it is very natural to grant courtesy and grace period for that short lapse, but ASC refused which proves that their practices are WILFULL EXPLOITATION, TRAP, AND PREDATORY TO HARM CONSUMER to profit themselves. We are very very frustrated as they continue to refuse to correct it for the past year and giving us painful ordeal. Please kindly help us let them stop this kind of ASC/Wells Fargo Bank's willful and exploitative practices as I believe this is their pattern of consumer exploitation not only us but others as well. Sincerely yours, Hong y Cho ASC/A Wells Fargo Mr *** Kovokovich CEO 7495 New Horizon Way Frederick, MD 21703
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2 comments
#679773

I have a mortgage with Wells Fargo which I have had for many years.

I refinanced 18 months ago with them with no problem. Rates dropped and they contacted me about refinancing again which I decided to do. After 4 months of nothing but problems (them losing items I faxed to then and having to refax many times etc) I was denied refinancing stating I had to much debt to income ratio.

Go figure refinancing would drop my payment that they are already

receiving now. Looks to me like they want to keep me at a higher interest and not interested in helping me lower payments. What kind of business is this?

#80278

We have had similar problems with them. They purchase flood insurance for us to match the hazard insurance level even though our insurance person has talked them telling them we do not need the same level on both insurances.

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ID
#137180 Review #137180 is a subjective opinion of poster.
Location
New York, New York
Service
Wells Fargo Mortgage

Wells Fargo and Raymour and Flanigan

The terms that I purchased the furniture under changed after I received the goods. Then I was treated terribly by their credit factor Wells Fargo. When the electronic payment would have taken too long to get to them ( 4 days for a major financial institution ??) I tried to access their website to pay the bill. That failed as it is a convoluted mess. I called in payment that cost me $10. The payment was never received and when I called them I was treated awful by their customer service. The same exact scenario happened for the last payment as well!
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1 comment
#82967

When we bought furniture from Raymour & Flanigan, I was willing to pay the whole amount upfront. The sales guy threw in free warranty if I opened an account and paid part of it to that account.

I agreed and they told me that Raymour's issuing bank Wells Fargo would send bill me after 25 days at 0% APR. That did not happen. They sent me the bill on 10/30/2009 with the Payment due date as 10/30/2009 to be received before 3:00 PM Pacific. Luckily, I happen to work from home today and checked my mail during lunch hour to discover this.

Also I happen to have the money to pay them off online which I did.

But I am certain that these crooks (Wells Fargo) play these dirty tricks to rake in the Finance Charges. I will never bank with Wells Fargo bank ever.

ID
#137159 Review #137159 is a subjective opinion of poster.
Location
Newark, Delaware

Wells fargo

I've been dealing with Wells Fargo for the past 3 years with my house and car loan. This is by far the worst company I have ever had to deal with. My car pymt is due on the 22nd of the month, if my pymt isn't there by the 25th, they call me non-stop starting at 8:30AM, I have cussed at them because I had my first pymt changed to the first of the month, I now put up with their computer calling me non-stop. I am now in the process of getting my house reprocessed and paying off my car just to get out from under Wells Fargo!
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ID
#137110 Review #137110 is a subjective opinion of poster.
Location
Augusta, Georgia
Service
Wells Fargo Loan

Wells Fargo Visa Card/ Home Morgage

2 years ago my husband was diagnoised with cancer, we thought we had Death and Disability Ins. on the home we were buying, NOT! The gal that wrote the paper's up on our home 2 years earlier, was so busy getting ready to go on her free vaction she won from Wells Fargo,(for signing the most sales up), she forgot to add the D&D Ins. in, then when we had to file on the Ins. she said it wasn't available, but it was now, How Convenient(SHE LIED). Now, I am totally disable and I have been turned down for the Disability Ins. on the Wells Fargo Visa. They said I had to work at least 3 months before filing for my disability? (Social Security Disability? )
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1 comment
#44043

How heartless and irresponsible can a BANK or an employee be? I know now not to deal with this kind of Bank, it could have happened to me! I pray that this family has a BIG turn of luck, it looks they need it!!

ID
#136498 Review #136498 is a subjective opinion of poster.
Location
Reston, Virginia

Wells Fargo Has Stolen My Money!!!

Wells Fargo is a terrible bank in my opinion. If you are banking with them you may want to reconsider. If you are not banking with them but you are considering doing so, you may want to think about this a little more. This is a very low quality customer service bank. It is very unpersonal and does not care about its customers at all. Furthermore, they are quite dishonest. They stolen out of my account over $800.00 simply because my step-son's account got overdrawn. My step son is an adult. I have no control over his actions or over his account. I had no access to his account or knowledge of the status of that account. They claim that because I allowed my wife to have access to my account and because she had also access to my step-son's account that somehow these two accounts are linked or related. Total nonsence. This bank is a total scam!!!
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1 comment
#35702

This is a clarification of my posting. Wells Fargo has withdrawn the money from my account without my permission and without my express or implied authorization.

I only authorized my wife to have access to my account. I did not authorize Wells Fargo to link my account to the performance of someone else's account that I do not have access to and do not control.

Because of this I consider their withdrawal of the money from my account as highly innapropriate.

I am damaged for somebody else's actions despite the fact that I have absolutely no control over that person, over his account or over his finances. This is the essence of this dispute.

ID
#135980 Review #135980 is a subjective opinion of poster.
Location
Los Angeles, California
Service
Wells Fargo Banking Service

Sale of home - 6 months later not closed yet

We are selling a home. Our buyers are being financed by Wells Fargo. Paper work started in March of 2008 - Wells Fargo has not yet closed the sale! Six months and still going! The person working on the sale does not call us back when we call to find out what is going on. We asked if there are problems with our buyers (prequalified for home loan up to $400,000) with no response from Wells Fargo. We send Wells Fargo agent e-mails and she does not respond back. We are now getting desparate as we are paying for two homes, two sets of bills for both homes.
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ID
#135769 Review #135769 is a subjective opinion of poster.
Location
Wasilla, Alaska
Service
Wells Fargo Loan

Wells Fargo out to get you

I have had a wells fargo credit account since 2001. They changed my address without telling me. My neighbor moved and left a forwarding address. Some of my mail got mixed in with his, and was forwarded. Wells Fargo, based on one forwarded letter, changed my address and started sending everything to my neighbor's new address one state over! So not only was I not getting my mail, he was getting it all. I didn't get a bill in the mail, and ended up being a few days late on a payment. They called my cell phone, I made a payment, but they kept calling since I guess their records were not updated or something. I call and ask them not to call my cell phone so much. The lady said she made a note in the file. The calls stop and I think everything is OK. My address is fixed, my card is current, they stop calling me. I go to use my card, and it is denied! I look into it and my card was closed. I call again to find out why, and the lady tells me that sicne I elected not to receive phone calls, they cancelled my card! Can you believe that? It has a balance, had auto payments scheduled (also denied), and was active since 2001. My credit was destroyed! Why, because I asked not to receive phone calls on a payment that already posted! I am sooooo pissed. They did this to get back at me for not wanting them to call my cell phone 5 times a day!
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ID
#135734 Review #135734 is a subjective opinion of poster.
Location
Los Angeles, California
Product
Wells Fargo Account
Loss
$6500

Wells Fargo-Ignoring LegalClosing Documents

We closed on June 27, 2008, at closing, paid interest for July to be paid for August payment, therefore we would pay Sept 1, 2008. August 5, 2008, we get a call from Wells Fargo that we are delinquent on out account for August pymnt. They said they recd pymnt of $678 and some cents but do not accept partial pymnts , please submit payment in full. I tried to explain to them about closing, offered to fax them our loan documents stating Sept 1, to be the first pymnt. They declined, a couple of weeks later, we receive copies of those documents along with the wrong document(no signature), therefore proving what we had stated!! 2 weeks later, still getting harassing calls and letters stating they would like to helps get caught up!! Said that it would take them 90 days to fix the problem, which only took one of their employees to screw up in 90 seconds!! It is now 9/11/08, still not fixed, they took Sept pymnt and applied it to the August delinquent payment!! HOLY SMOLLY!!! Isnt their no protection for the consumer???
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1 comment
#34431

You are aware the broker is responsible to ensure funds were transferred to your servicer right? Because even if your servicer can prove you are right and paid the money at closing with that agent or company you need to be calling the broker directly (Even if the broker was from another division of WF) Your calling the company that services the loan as it was transferred to them. Thus the company that transferred the loan to them needs to get you your money...and take care of your credit reporting in hand with your current servicer.

ID
#134944 Review #134944 is a subjective opinion of poster.
Location
Tucson, Arizona
Service
Wells Fargo Loan

Wells Fargo's Unauthorized Overdraft Loans

Wells Fargo's unethical banking practices run the gambit from sitting on deposits, debiting high amounts first, to forced enrollment in a checking account overdraft plan that you don't want. It's a forced loan with a few exceptions: no loan agreement, no disclosure, no Truth-in-Lending, no loan statement, no review of terms and conditions, no opting out, no protest procedure. None the less, it looks like a loan, acts like a loan, quacks like a loan. It must be a loan. If you doubt that, just don't pay the loan balance. You see, it's a loan! But it won't appear on a TRW, and you filled out and signed nothing to get it. Your statement doesn't even show you have a credit line, because it's covert. It doesn't serve your credit needs, it serves the Bank's. The need for Federal intervention is here, either via executive branch investigation or legislative branch remedy. It wreaks of conspiracy. I'm amazed there is no class action brewing. The FDIC should allow claims against this silliness. After all, our funds on deposit are Federally insured, possibly against this.
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ID
#134815 Review #134815 is a subjective opinion of poster.
Location
Los Angeles, California
Product
Wells Fargo Account

In appropriate banking practices: gouging consumers

Wells Fargo Client Services P.O. Box 6995 Portland Oregon 97228-**** Re: letter of complaint against Wells Fargo Bank. Client Services, On Wed. 3 September I drove 60 miles from Fort Sumner New Mexico to Clovis New Mexico to deposit my bi-weekly salary into my checking account. I deposited two money orders from Wal Mart; one for $700, the other for $500. I was aware at the time of deposit that a check had been honored 24 hours previously resulting in a negative balance in my account. Upon checking my account on the computer Thursday morning, the on-line bank statement showed a positive balance of about $150, the $1200 deposit was pending and the $700 money order was on hold until 08 September. When I accessed my account today, Saturday 06 September, the on-line bank statement showed a negative balance of about $149, and both the $700 and $400 money orders were on hold until 11 September. I checked the reason for the hold, and there was annotation of irregular deposits to my account. I called the phone bank and spoke to a “Michael” and shared my displeasure about all of my funds being placed on hold and my puzzlement as to what irregular deposits were being questioned. He quoted the bank policy; I told him I know their policy, but why both money orders, and what irregularities? He responded that the bank needed to verify the origins of the money orders; I replied they were from Wal Mart and I use Wal Mart money orders often to deposit money into my account. I questioned, what was so different this time? He again began quoting bank policy. I thank him for his time and told him of my plans to file complaints to Wells Fargo and the New Mexico State Attorney General. I went for a drive and cooled down and decided not to file a complaint, until I logged onto my computer upon returning home to see that the reason for the holds had been changed to “repeated overdrafts in past six months”. Upon checking my account history, I decided that I would complain. First of all, if anyone wishes to examine my account, a person could set their watch my deposits. I get paid every two weeks, on Wednesday and the number of times I do not deposit my salary every Wednesday evening can be counted on one hand, minus the thumb; there are NO irregularities in my deposits. I do have 2 or 3 utility bills that are automatically withdrawn from my account within the first 2 weeks of every month, without fail; again no irregularities. If anyone examines my debits, they would conclude I own stock in Wal Mart, have a car payment, a home mortgage and also pay rent on a house where I work out of town; again no irregularities. As for overdrafts, the last overdraft I incurred was in June of 08 and since I am a Doctoral Student I do run into financial problems, such as the one I had in March of 08, I did have several overdrafts. However, I believe if anyone were to look closer at my over drafts in March as well as the one a few days ago, there appears to be a banking practice that I do question. The person who makes these decisions is aware of my banking patterns; deposits and debits. They are aware I am sure that if a hold is placed on my account during the first part of the month, I will incur several overdrafts because I have 2 or 3 utility bills that are automatically paid out of my account, resulting in several overdraft fees and extending the account holds, which then results in more overdraft fees because I do have a mortgage and rent and other utilities that I pay towards the middle and end of the month. So yes, I find it hard to believe that the person who makes these decisions is not aware of the commutative affect of holds when some bills are automatically presented for payment. I can only deduce, assume and therefore conclude that the reason that someone places a hold on my account during the first two weeks of the month is to increase the income of the bank through overdraft fees, resulting in greater financial hardship and psychological stress for me. In this case Wells Fargo could not decide if the reason for the hold was irregularities of deposits or persistent overdrafts (two since June). What do I want? I would be satisfied if debits that occur automatically would be honored during financial holds without overdraft fees and the reasons for the holds are realistic and honest. If this practice is occurring with the many patrons of Well Fargo, I can only image amount of money the bank gains through this practice.
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ID
#134343 Review #134343 is a subjective opinion of poster.
Location
Ciudad Juarez, Chihuahua

Unwarranted fees made by account insuffcient

Wells Fargo depleted my account with unwarranted fees that made my account insufficient when I had enough money in my account to pay all bills, but Wells Fargo illegally withdrew overdraft fees & continue overdraft Level ll fees, and additional fees. I have my bank statement showing that my account was in good standing. Then Wells Fargo had the audacity to place me on the chex system. Wells Fargo has violated the Professional Business Practice by participating in unethnical business tactics. Wells Fargo refuses to reimburse me the money that they illegally withdrew from my account to gain a profit.h
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1 comment
#49939

You would think you would read the Terms and Conditions for your account. They don't give you all the paper work when you first open the account so you can throw it away, you're actually suppose to read it. It clearly states what will happen when you don't have enoough money.

You obviously don't know how to manage your account when there are so many ways to check on your money...

ID
#134312 Review #134312 is a subjective opinion of poster.
Location
Los Angeles, California
Product
Wells Fargo Account
Loss
$1

Wells Fargo Financial -- Unethical Company

Imagine my surprise when I received a letter stating that you have been working with us for some time to resolve our financial problems. I sit here looking at our last statement -- $109 due by 8/15/05. I paid 40.00 on 7/28/08, $60 on 8/26, $9.00 on 9/4/08 using the bill pay service offered by Wells Fargo bank. Wow due 8/15 – paid by 9/4/08 – we are quite the deadbeats. I just went on line (Wells Fargo Financial) and paid another $109 since apparently Wells Fargo needs the money so badly. I’ve never dealt with such a unethical group of financiers in my life.
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2 comments
#43058

Maybe the settlement letter your received was sent in err.

#32605

Wells Fargo has depleted my accouunt with unwarranted overdraft fees of 273.00 when my account was in good standing. Wells Fargo made my account insufficient to gain a profit and by using unethnical business tactics. This bank had the audacity to place me on the Chex System.

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ID
#134066 Review #134066 is a subjective opinion of poster.
Location
Silverton, Oregon

Well's Fargo scamming the 'overdraft'. Puts debits through, hold deposits.

I will keep this short as I know that anyone who has experienced this insanity will understand it immediately... I have fought with Well's Fargo to the point of no return on this one. You know how it goes...6 or 7 small debits and then much later a large one that goes into the negative by a buck??? Then they put that on first and make all those 10 dollar debits go into overdraft to charge you the 35 bucks a pop. Hold your deposit, let all your debits come thru and...BAM...10 more overdrafts. FRAUD. FRAUD!!!
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1 comment
#31341

If you complain and tell them that you feel that the bank is only interested in profit and that you will pull your account and change banks, they usually refund a portion of the fees as long as this is not a regular activity on the account. You will have to speak with a manager since thanks to the economy crisis banks have adopted the stance and have actually trained their customer service reps to ALWAYS deny a refund and state that as long as it's not the bank's error they will not issue a refund.

That is NOT true. They will, depending on your history with the bank. Also, if you hold other services with them, such as mortages, cd's, savings accounts or anything, Threaten to pull them, just be ready to do so. Sometimes they will say it takes days to close an account, and that they will mail you a check for the balance in your account.

To get around that you tell them not to worry about it, then go to the bank and pull everything except $1.00 from the account. If you have a mortage, call and ask them for a loan payoff letter, this is the first indication that you may be refinancing and leaving their bank.

You have power as an account holder. USE IT!

ID
#133289 Review #133289 is a subjective opinion of poster.
Location
Mesa, Arizona
Product
Wells Fargo Account
Loss
$500

Wells Fargo - Disgusted by their customer service

I called in Dec 2007 to get a pay off amount. The empl gave me the amount of $917.46 which iwrote the check for on that instant. Now Sept 2008 I have a balance because i should of paid $945.17, $27.17 difference. Now i have to pay $200 because they made a mistake. Not only that, but "supervisor" BRYAN (empl #6332) was very rude to me and called me a liar... Michon, also a customer service rep was extremely rude. I don't care paying the balance, but i will not tolerate insults!! DISGUSTED! I WILL NEVER BE A CLIENT OF WELLS FARGO AGAIN!
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3 comments
#286873

Made a payment albeit late by 10 days.. Next payment would be due today.

Calls started Friday night at 8pm started again on Saturday 8am and all day until 9pm same on Sunday. Finally answered.. They called my mom (co-signer I have had the loan now for 6 years on my car and Im down to 9 more payments) told my Mom I would get into a lot of trouble and so would she if she didnt make a payment. Mind you I already made said payment!

When I called and told them that if they continued to call my Mom and say those things, I would call and Attorney...I was told.. Dont Threaten ME.. by the Rep.. Which I quickly replied really so Wells Fargo has the corner on the threats..

I dont think so. As I said my payment is due today and when i look online it says I owe for today and June 16th 2011.. How can I be late on a payment for a month that hasnt happened yet??????

I asked Wells Fargo Rep about this and they could not answer ... Needless to say I cannot wait until this loan is done!

#271861

Here is an updated list of their newest and oldest numbers...The weird looking one is their way that they now send Text Messages.

800-692-****

484-565-****

484-895-****

801-246-****

605-226-****

800-565-****

866-913-****

877-537-****

913-492-****

888-932-****

610-595-****

800-565-****

407-444-****

407-548-****

407-744-****

816-584-****

480-337-****

866-799-****

605-226-****

407-444-****

706-50

#85372

Hi everyone, tired of the calls, here are their numbers, block them out and watch, they will start calling with a "block number"...hahaha Wells Fargo, this feels good to get back at you for a change. now I only answer when I'm ready...YES!1-800-56*-***01-407-5**-**811=605-226-****1-484-89*-***01-816-5**-**701-480-***-*3101-48*-***-29001-8**-**3-93231-***-*99-1702*-***-226-790**-**1-246-06***-*05-226-9****-407-744-****1-88*-***-****Share with other Wells Fargo Auto customers...time to fight back!

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ID
#133157 Review #133157 is a subjective opinion of poster.
Location
Chicago, Illinois

Overdraft Protection Danger to Credit

Your credit report is in danger when using an overdraft protection account with Wells Fargo. When your overdraft protection account reaches its maximum amount Wells Fargo has a policy that ads an additional 2 % of your limit to your account. Example if your limit is $3,000 they will ad an additional $60 taking you to $3,060 which puts you over your credit line. This may seem like a nice feature to help you avoid overdraft charges but as soon as this occurs they send a complaint to all three credit reporting agencies stating you have exceeded your credit line. This can cause your credit score to drop maybe as much as 30 points. The drop in your score can have a direct effect on your ability to secure favorable terms in any transactions with Wells Fargo or any other company.
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ID
#132623 Review #132623 is a subjective opinion of poster.
Location
Las Vegas, Nevada
Product
Wells Fargo Account