My home mortgage was just bought out from SunTrust Mortgage by Wells Fargo. This has caused nothing but headaches.
SunTrust had given me interest on my escrow account for property taxes, and Wells Fargo will not do this. Worse, Wells Fargo is requiring me to raise my insurance coverage above what I desire/need and above what SunTrust had required.
I have both a homeowners and a flood policy, and Wells Fargo is requiring the coverage on the flood policy to equal that of my homeowners. The flood insurance is only due to outdated FEMA maps, and my insurance agent never heard of any mortgage lender requiring additional insurance beyond the outstanding loan amount.
I never agreed to any new mortgage terms as part of the SunTrust-Wells Fargo transfer. Calls to Wells Fargo, even to a supervisor, simply end with the representative stating that "it is our policy".
What rights / options do I have?
SunTrust had given me interest on my escrow account for property taxes, and Wells Fargo will not do this. Worse, Wells Fargo is requiring me to raise my insurance coverage above what I desire/need and above what SunTrust had required.
I have both a homeowners and a flood policy, and Wells Fargo is requiring the coverage on the flood policy to equal that of my homeowners. The flood insurance is only due to outdated FEMA maps, and my insurance agent never heard of any mortgage lender requiring additional insurance beyond the outstanding loan amount.
I never agreed to any new mortgage terms as part of the SunTrust-Wells Fargo transfer. Calls to Wells Fargo, even to a supervisor, simply end with the representative stating that "it is our policy".
What rights / options do I have?
