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Wells Fargo / home equity line of credit lender placed insurance

1 United States

Good Morning:
On December 20, 2018, my husband and I attended a closing of our home at 8035 Tantallon Way Trinity Florida. At the closing, we were presented an estoppel letter for the payoff and close of our homeowner's loan. We agreed with the payoff figure of $96, 987.72, but were shocked to see a termination fee of $11, 397.15. As soon as we left the closing we went to our local branch of Wells Fargo (Little Road-Mitchell Shopping Plaza, Trinity, FL) and spoke to James Durkin. Mr Durkin could not explain the fee and immediately started making phone calls. An associate of Mr. Durkin, believed that the termination fee was regarding Lender Place Insurance. An investigation was to begin at that time, and we were told it would take 7-10 business days. On December 21, 2018, (1pm. EST) I decided to call your Customer Care Line to see if the investigation had actually begun. I spoke to Crystal at that number and she forward my phone call to Kevin, who I believe was in your Home Equity Department. Kevin was able to tell us, that in fact the Termination Fee was for Lender Place Insurance and most likely during the time that Wells Fargo was acquiring Wachovia. Kevin than told us that he could not see the exact time period that was in question, but he would start the investigation to determine the time period. Kevin insured that the procedure would begin and would take 7-10 business days to complete. As I had been told that it had already started, I called the Customer Care line on December 27 (11:25am EST) and spoke to Serena who told be that "research is in progress" and I need to wait the 7-10 period. On January 8 (10:30 EST), I again called the Customer Care line and spoke to Chelsea who told me that she could see in the records that I spoke to Kevin, but he did not start the research. I was then told that she would begin the research, but again, it would take 7-10 business days. At that time I asked to speak to a supervisor and my phone call was passed to Lena Holland. I explain the entire situation to Ms. Holland, who did apologize for the lack of follow through. I told Ms. Holland that I need the funds by the end of next week (week of January 14th), as we are closing on a new property. Ms. Holland did provide me with a reference number and promised a phone call to me regarding this matter within 24 hours. I am still awaiting that phone call. The lack of follow through with your research in unacceptable and incompetent. If this matter is not resolved today, I will need to take legal action against your bank.

Diane Johnson

Jan 9, 2019

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