Wells Fargo tried the insurance scam on me.
They bought my loan from the first bank. Fine
They sent me a new coupon book. Fine
They sent me a not saying I had not told them who to send insurance escrow to, so they had bought insurance for me, from their preferred company :).
They backed off in a nanosecond, once I called BS. They bought the loan...they should ask the seller who escrow payments go to (they figured out where the taxes went to right?). And if they really couldn’t figure it out, they could ask me...see I don’t know they need to know something until they ask.
Anyway, it got cleared up real quick. But, its a numbers game. If only 1% of borrowers don’t pay attention, they’ve made millions. Borderline criminal.
See my #29 below on Wells Fargo. I will NEVER do business with them.