I had an Insurance claim and sent my mortgage company the check for almost thirty-five thousand dollars along with the paperwork their rep told me I needed to send. A week or two later after more calls I find I need to send them additional forms as I was doing the repair work myself. I completed the requested forms and sent them in along with copies of all correspondence from my claims adjuster. Finally they sent out a check for 1/3 of the amount received (that they were holding hostage) so I could finally start the work.
Last Mon may 16 I called the hazard insurance processing center to request a 50% inspection upon which a successful inspection would have let them release another 1/3 of the funds. I was told I would receive a call from their inspector within two business days. This morning after 5 business days I called to see why the inspector had not called I was told because the estimate was not on the insurance company letter head that they additional correspondence from the claims adjuster.
I asked why no one had called me they had no answer. I asked if they had the check and dispersed funds already why didn't they just issue an inspection, response was they needed the adjusters correspondence. After a long time speaking with the rep I asked to speak to the extenuating circumstances (or something like that) department (they had helped resolve issues holding up the initial release of funds) I was told after an extended wait they were not available. I then asked to speak to a manager and was told it would be within 2 business days. I said that was not good enough. After an extensive verbal complaint including detailed time line and complete disregard for the minimum customer service level I was told I would get a call within 2 days.
My mortgage company is creating a situation that my family has to live in A dirty dusty environment with half completed repairs and my mortgage company cant even let me speak to a decision maker. The only reasonable motivation by my mortgage company to with hold funds and delay payments would be to hold onto my money as long as they can thereby jerking me and others like me around!
Product or Service Mentioned: Wells Fargo Manager.
Monetary Loss: $4000.