Wells Fargo - Won't release collateral
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New ReviewerYears ago, my wife and I obtained a mortgage loan for commercial real estate from Wells Fargo bank. That loan was paid off in full 11-4-2013.
The problem is they never filed a reconveyance with the county to clear the property as collateral tying up the property still to this day.
Our current loan officer worked on this and received no assistance from Wells Fargo; the same thing happened with our current title company. When I personally got involved after many deflections and run arounds, I finally received an anonymous response from their BBG loan servicing department. Such a response is impossible to hold any actual person accountable.
We have already lost one loan because of this and the current loan will time out soon as well. It was not difficult to do this 8 years ago and is not difficult to do today but here we are one game to the next.
They even wrongly attempted to lay this off on the county recorder.
No consumer should have to deal with this type of problem, more so the amount of time and contacts thus far that is required is in and of itself just horrible.
Wells Fargo should not be in the mortgage loan business. Never get a loan atNever N
User's recommendation: Never get a loan at Wells Fargo.
Monetary Loss: $10000.
Preferred solution: Get my collateral released.
Wells Fargo Cons: Horrible service.
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