Complaint: Wells Fargo Mortgage holds mortgagors insurance check hostage while needed repairs to roof go unaddressed due to mortgagors inability to pay for repairs without insurance funds.

9/1/2009 – Fed Ex with Mortgagors insurance check for $18, 263.73, Property Loss paperwork and a return Fed Ex Self Addressed envelope arrives at Wells Fargo Property Loss Address.

9/8/2009 11:35 AM – Liz Salemme from Wells Fargo Property Loss Department faxes mortgagors a copy of contractor form for additional mortgagors signature.

(Takes 4 business days for someone to look at paperwork and figure out that one of the mortgagors signatures is missing from the contractor form – there isn’t even room for two signatures on the form. Someone at Wells Fargo should be opening the packets and checking in all docs immediately and if something is missing the mortgagor should be notified within 24 hours.)

9/8/2009 11:45 AM – Mortgagor returns fax of contractor form with husband mortgagors signature to Liz Salemme. Fax is confirmed received and completes all requirements to begin processing.

(7 More business days to review paperwork and cut a check?)

9/16/2009 – Date on Check and letter to mortgagors and contractor.

9/21/2009 – Storm hits Atlanta with record rainfall – roof on mortgagors property still not fixed due to contractor waiting on funds from insurance proceeds sent to Wells Fargo 3 weeks prior. Additional damage may have occurred to roof during this period due to state of roof from prior incident – will not know until contractor can get back on roof to fix original repairs.

9/24/2009 – Check for $9, 131.87 is received by mortgagors via USPS (WHAT HAPPENED TO THE FED EX ENVELOPE THAT WE SENT SO THAT THE CHECK COULD BE EXPEDITED SO WE COULD GET THIS ROOF FIXED??)

This is ridiculous that it should take us this long to get the money back for the repairs we need to make to our home. Your procedures need to be changed so that you return mortgagors insurance funds back to them in a more timely manner. It is ridiculous that you get to sit on the funds for this long. And we are outraged that we sent a Fed Ex envelope in with our paperwork and that it was NOT used. Your paperwork says that if you wish to send a self paid Fed Ex in that the check can be mailed back in that. This is a ROOF repair – funds are needed quickly to fix this! We can only hope that the second half of the funds will come back faster than the first.

Please look at your procedures and reduce the time that the money gets back into the mortgagors hands to fix the needed items at their properties. You are taking advantage of the insurance check funds of your mortgagors! This must stop!