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Wells Fargo Mortgage Company, its officers and employers are incompetent.Why?

Wells Fargo requires flood insurance to match your home owners insurance (fire & theft) up to $250.000. However they state in their own documents, that flood insurance needs to be sufficient for replacement cost coverage. As a result of their incompetency, individuals are carrying FEMA flood insurance higher than replacement cost coverage. This is very wrong and Wells Fargo Mortgage Insurance practices must stop.

Please help in this effort by having your flood insurance reduced only to replacement cost coverage and as such save on FEMA flood insurance premiums.Potential class action suit is possible.

Review about: Wells Fargo Mortgage.


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yes this crazy they are requiring us to have 250,ooo in flood insuance and are billing us an extra 200 a month .. and i cant get any help


I have received a letter in Change in the Amount of Flood Insurance Required from Wells Fargo.My HOA pays for coverage and each building has only $65K coverage.

Do I need to get supplemental coverage equal outstanding balance of my loan or replacement cost value, say 15k more?I am soooo confused- I have coverage why would I buy another one?

Please advise.

Holiday, Florida, United States #1074867

I agree, Wells Fargo is trying to force us to purchase $250,000 flood insurance on a mortgage that is only $160,000.This is completely wrong in my opinion and should be stopped.

They need only to protect their interest.

We have enough flood insurance to cover the mortgage.Lawmakers must do something to hold these banks and other lenders accountable!


Well Fargo is not incompetent. They are making money (yours and mine) hand over fist with forcing flood insurance on people who are not even in a flood plain and the laugh while they do it, claiming that the have a right to demand any type of insurance at any time!

Groveland, Florida, United States #814572

I'm required to carry 250,000 flood insurance, Wells Fargo applied there own policy on my home this year . AFTER faxing proof of the required insurance, and 2 reviews they decided to refund all but 56.00 of the 487.00 that was taken from my escrow account.

One month later I received a letter today letting me know my escrow will be short again, so I have to pay over a hundred dollars more now or have a payment increase , to cover the increase in my Homeowners insurance, which was increased by none other than WELLS FARGO.

Strange 3 times in 2 years my escrow account is short on funds.


I had to pay to over $500 to get an elevation survey done because apparently the $7500 in coverage that we had was not enough for Wells Fargo.they put their own insurance one, which of course has a premium of well over $2000 /yr.

So I am only now able to get flood insurance which was once $150 year, now we have to pay over $500 because for whatever dumb reason FLOOD insurance has to match dollar for dollar for the homeowners...WHAT?!? I hate their policy and think it is ridiculous since this house doesn't even have a basement because it is in a flood zone.

why would a flood ever cause damage that expensive?!?Makes no sense!!

to Anonymous Plainfield, New Jersey, United States #940674

you can get flood insurance from allstate ,just tell the bank you are changing insurance,,those bankers can really screw peoples lives,,they once hit me with a 4,000 flood insurance and the people at allstate advised me and now i pay 360.00 a year,,what a change. good luck to you.

to Anonymous Houston, Texas, United States #1220232

I would safely suggest to all homeowners to refinance with another bank. Once they see the amount of homes they are loosing, maybe they will wake up.

Collierville, Tennessee, United States #621611

My experience with the flood insurance issue is just crazy.I got a notification that my house has been placed in a flood zone by FEMA and that I had 45 days to purchase insurance to cover there requirements.

My house is new construction built 2 months ago, in a new sub division. My appraisal shows that I am not in a flood zone. Wells Fargo said the map has changed. I looked at the new map and it shows the flood zone moving further away from my property.

I went to my insurance company USAA and ask them about it and they checked and confirmed I am not in a flood zone. I spoke with a representative from Wells Fargo and he said my house was close to a flood zone so I was included. I asked what could I do. I was informed that I would have to dispute it with FEMA, even though the FEMA map clearly shows I'm not in a flood zone.

USAA had retrieved a letter of map revision from FEMA that showed I was not in a flood zone. Wells Fargo rejected the FEMA letter because it was issued before the new map which shows the flood zone moved further away from my property. My USAA insurance representative was flabergasted by what Wells Fargo was doing. After I presented my information to Wells Fargo the representative I was talking to at Wells Frago stopped taking my calls would not answer my emails any longer, so I called a general number and got a different representative.

I presented this representative with the information and she said she would request a re-issueance of the letter I got from FEMA. I asked how long does this take. She said about 60 days, I said you only gave me 45 days. She replied if we charge you we will give you your money back.

I don't believe that. If they know it takes 60 days which I confirmed with FEMA then if they only allow 45 days they will at least get you for a month or two. My next move was to ask my insurance company to issue me a policy until I get this straight. They couldn't issue me a policy for being in a flood zone because I was not in a flood zone.

I bet Wells Fargo knows that too. So what do you do now? Wells Fargo will take your money at this point at an inflated cost and I would be willing to bet they are in bed with the insurance company for which they will be forcing me to use. Is this legal?

It can't be!!! After I submit all the necessary paperwork I am going to contact my attorney general and see if they are interested in my story. Just by accusation they can take money from homeowners. That's amazing to me...

Is this a dictatorship or a democracy?China or the US wait its not even China cause its not the government its a big bank crushing little people..

to Gerald Mc Germantown, Maryland, United States #627839

I got my requirement dropped because the city engineer for my home town had a letter from FEMA stating we are not in a flood zone. Wells Fargo had to honor that... So if you aare trapped check with the city engineer...

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