Washington, District Of Columbia

Wells Fargo is one of these large banks that just abuses Americans with their escrow fees, overcharge and fees. One can never expect to own in America with these large rip off banks, such as Wells Fargo, Bank of America, Citibank & Chase. Thus, I have a home which I have paid $28,000 in three years to Wells, but only $2000.00 has gone to balance of my home loan.

This is how the scam goes, I get a statement from Wells and it notes a payment that included insurance, taxes, FHA fees, interest and mortgage pymt. The statement does not provide and option for me to select which one I like to pay, so I have no idea where the check goes. However, the payment for insurance/taxes is put into escrow. Now they take all year and at the end of the year I get an overcharge check without interest. Thus, this escrow is a saving account I cannot withdraw, my money Wells can invest all year & make profit, but I get nothing. Furthermore, the escrow account makes my monthly payment very high. I deem Wells Fargo has made some good funds with these escrow accounts that just benefit them. Thus, it would be far easier to pay your insurance in one payment and the taxes as well. Also, may I add I tried to pay my insurance with one payment and Wells would not adjust my monthly payment. They still continued to charge me for the insurance every month although it was paid, so what have we here. Just absolute rip off of citizens and no avenue of relief from it.

Persons should be able to pay taxes and insurance at year beginning and that should reduce your mortgage payment. Furthermore, you should be able to select what you pay each month on your statement. If there is 1000.00 in your insurance account and you pay $600.00 well you need not send anymore for it.

Monetary Loss: $26000.

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WF wants to keep us in arrears. Its why you get your escrow analysis 2 months before your insurance renewal date, instead of the 30 days the law requires: (i) Annual escrow account statements.

For each escrow account, a servicer shall submit an annual escrow account statement to the borrower within 30 days of the completion of the escrow account computation year. The servicer shall also submit to the borrower the previous year's projection or initial escrow account statement. The servicer shall conduct an escrow account analysis before submitting an annual escrow account statement to the borrower. Example: you find a new insurance policy and its 1200 a year, you start the policy on July 1, and the insurer informs the escrow servicer.

You are set up with 100 a month contributions to your escrow, using the last known insurance premium (1200)..... In my case, I get an escrow analysis in May telling me my account is up to date to meet the 1200 premium about to be due. The renewal premium comes in and its 1500............Wells Fargo pays it, and doesnt even inform me until NEXT May, when the next escrow analysis is "due". This creates a number of problems: 1.

The borrower only collected 1200 against the actual renewal premium of 1500, so the borrower has a shortfall of 300 dollars comparing the projected premium to the actual premium. So, 300 behind so far. 2. Since the forward moving escrow analysis was just done for the 1200, and even though your fund experienced a 1500 premium, youre still only paying towards the 1200, so unless your insurance goes back down to 1200, youre already 300 short again..........and my insurance goes up most every year.

Either way, at this point, the borrower is 600 behind. 3. Fortunately, in May the escrow will show the shortfalls above, but since its May, and not within the renewal window, its gonna happen again. Regardless, your escrow now would say your payments must go up 50 a month, and you still havent accurately identified the forward looking premium contribution.

There is a way to beat the big bold "your account is in arrears", but the deck is stacked against us.

.......just another disabled Vet WF is trying to take advantage of. Sorry if thats confusing..........


my escrow review has turned into a nightmare WF has said my property taxes have doubled this year.... they have not..

I called my tax office..they have not changed since 2007.....5/23 was when I called to have it fixed and is not cleared up yet..if your escrow review has jumped your payments up.. I would find out for sure if they are true..$200 a month increase is a lot to medon't just accept the new charges...


I am a war veteran of the gulf war my VA house loan started at around 450.00 a month and our house was not inspected good enough the house had a lot of serious problems. The lending partners sold out the loan to get out of liability. To wells Fargo then the loan slowly almost doubled to 745.00 a month my name is Mark Maryan please tell me how is it that a va loan can double in payment please call me and tell me how to get these guys in trouble Mark Maryan 1405_892 7713


My grandfather is 92 years old and going through the same thing. I am trying to find someone to help him over 15 years and paid only $1,000.00 on principal. March 26,2016 still owe $30,000.00.


we purchased our home in 1996 with another mortgage company. We have been sold so many times I cant count on two hands.

We know have Wells Fargo. My biggest problem with them is that when escrow analyst time comes around we are always short. We got sold to them in the month of December and escrow analysis is done in Dec but taxes and insurance are paid in full in November. We are always going to be short till the following year.

We called and stated we have a whole year to accrue our escrow but you always want one more payment to bring it up to standards of government requirement that is stating in the letter. Well, first you always have 1 extra payment ahead of time for my mortgage so if I don't make one I am always ahead that 1 month. You earn the interest on my money not me. So please leave me alone....

I am one of the better payees and this is the way you treat me what do you do to the less unfortunate people who might be short one month....cancel their mortgage and put in foreclosure????

yep that what I been reading ..... :?


I lost my home to them because of this