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Servicing Update

Important information about the servicing of your account

We’re making a change to our servicing system to simplify our processes and provide you with an enhanced online experience. We’re not opening up a new account for your line of credit; we’re simply moving your existing account to another servicing system within Wells Fargo.

As part of the change, your account number and payment information will change, and all future communications regarding your account will be from Wells Fargo Home Equity.

This operational change will not affect any terms or conditions of your line of credit, including the due date of any payments. It only affects the servicing of your line of credit.


When will changes occur

The servicing of  your Account is moving from one Wells Fargo Servicing system to another. Beginning October 5, 2017 at 4:00 pm Central Time you will be unable to access your account. We expect that your account will be available beginning October 11, 2017. We appreciate your patience during this time.

Account information

  • Your account number will change. The updated number will be provided to you soon after the move. We’ll send the updated account number again with the first billing statement sent to you after your account moves.

Payment information

  • If you use Wells Fargo Online® Bill Pay to make your payments, we'll update your information and redirect your payments for you. You may want to validate this information after your account moves. 
  • If you were making payments through Wells Fargo Online®, or you have a NowLine account paying via the Wells Fargo Financial Online Payment Services, any online payments that were scheduled to occur after October 5 have been canceled. We apologize for this inconvenience. To reschedule your payments:
    • Click on Transfer and Pay.
    • Then, click on Pay WF Accounts to schedule a payment for your updated account number.
  • Your loan will not be assessed any late charges for 60 days following the transfer date to allow you time to reschedule your payments.
  • If you use a bill payment service other than Wells Fargo Online® Bill Pay or an internet banking site, you'll need to contact the service to update the following information:
    • Your updated account number
    • New payment mailing address located on the front of the welcome letter
    • The effective date that the new payment mailing address is to be used, as shown on your welcome letter
  • If your payments are automatically withdrawn from a checking or savings account, there may be a delay during the system move. You will not be charged any late fees during this time. These withdrawals will return to normal after your account moves.

Managing your account after the move

How are billing and payments done?

You’ll continue to receive a billing statement at the same frequency as before the move. The statement will list the minimum amount due and the new payment address.

Accessing your account online

  • If you already use Wells Fargo Online®, you will be able to use your existing username and password to sign in at wellsfargo.com after the move.
  • If you do not already use Wells Fargo Online®, you can go to wellsfargo.com and click "Enroll now" after you receive your new account number to get access. (Note: Your account must be current.)

Through a bill payment service

  • If you are currently enrolled in Wells Fargo Online® Bill Pay, we will update your information to redirect the payments to your updated account number. We will redirect the payments scheduled for you.
  • If you use a bill payment service other than Wells Fargo Online® Bill Pay, please contact them to update the following information after you get your updated account number:

    • Your updated account number
    • New payment mailing address located on your welcome letter
    • The effective date that the new payment mailing address is to be used as shown on your welcome letter

By phone

You can easily make payments to your account by calling 1-866-HE-WELLS (1-866-439-3557). Simply use our automated phone system or speak with a home equity account specialist.

Whether you use the automated phone system or speak with a home equity account specialist, please be sure to have the following information available when you call:

  • Your updated account number
  • Last 4 digits of your Social Security number
  • The account number and routing number of your payment account

By mail

Payments can be made using the payment address found in the right-hand column of your welcome letter.

In person

You can visit any Wells Fargo Bank location to make payments to your account. Some states may not have banking locations.

What happens if payments are returned for non-sufficient funds?

If we attempt to process your payment and the funds are not available on the first attempt, we will make 1 additional attempt to withdraw the payment. If the 2 attempts fail due to non-sufficient funds, the payment will not be credited to your account and we will notify you to send a payment.

General information

Will my account number change?

Yes, your account number will change. Your updated account number will be provided to you after your account moves. We’ll send the updated account number again with the first billing statement sent to you after the your account moves.

How can I obtain information about my account?

You can obtain information about your account by calling:

Prior to Oct. 7, 2017:

  • NowLine: 1-800-247-9215, Monday – Friday, 7:00 am – 9:00 pm Central Time
  • Business Equity Line: 1-800-225-5935, 24 hours a day, 7 days a week

On and after Oct. 7, 2017:

  • Wells Fargo Home Equity Customer Service: 1-866-HE-WELLS (1-866-439-3557)
    Monday – Friday: 7:00 am – 9:00 pm Central Time
    Saturday: 8:00 am to 3:00 pm Central Time

Does this move change any of the terms disclosed in my account documents?

This move will not affect any terms or conditions of your line of credit, other than those directly related to the servicing of your account.

Examples of terms or conditions that will change:

  • Your payment address will change. Please note the new payment address provided in the “Important Information” box included in your welcome letter.
  • Your account number will change. An updated account number will be provided on the first billing statement sent to you after the move. Please use this updated account number on any payments or correspondence you send us after the move.
  • References to your account type will change. After the move, your account will be referenced as a PrimeEquity Line of Credit Account on all correspondence going forward.
  • You will be required to pay a minimum amount each month, even if you paid extra for the previous month. Your billing statement lists the minimum amount due each month.

Examples of terms or conditions that will not change:

  • If your account has a variable interest rate, your rate will continue to adjust as scheduled.
  • If your account has a fixed interest rate, the rate will remain the same.
  • If your account has a variable interest rate with a margin greater than 9.99%, it will be capped at that rate, which means your rate may effectively be lowered.
  • If your account is subject to charges, such as late fees, this agreement will not change. There may have been periods of time when Wells Fargo elected to waive such charges; however, these fees can be charged according to the terms and conditions of your account.
  • This move will not change the terms of payment responsibility on your property charges (real estate property taxes). You’re still responsible for paying your taxes when they’re due.

If your account is currently restricted or blocked from access to advances, that status will remain in effect.

What if I was in an assistance plan or in the process of applying for assistance?

If you were in an assistance plan or in the process of applying for assistance prior to the system move, this will not be impacted by the move. All assistance plans, including account modification, repayment, forbearance, and short sale, will remain in effect. We will transfer the financial documentation you’ve provided in support of these efforts for all accounts currently on a modification plan, or those in a pending or trial status. The terms and payment amounts of these plans will not change, as long as the conditions of the agreement are being met.

If you’re currently seeking payment assistance, please continue to work with your current Home Preservation Specialist. If a new Home Preservation Specialist is assigned, you will receive a notification as well as an introductory phone call.

How can I modify automatic payments after the move?

Use the Automatic Payment Authorization form after the loan moves if you want your payments to be automatically deducted by Wells Fargo from any deposit bank account, or to make changes to an existing automatic payment.  You can also use our automated phone system or speak with a home equity account specialist by calling 1-866-HE-WELLS (1-866-439-3557).

How can I make payments after the move?

There are several ways to make payments. Choose the payment option that's the most convenient for you.

What will happen to my credit card used to access my line of credit?

Those credit cards will no longer be usable after the system moves and your account number changes. They should be destroyed in a secure manner after the system move is completed. Your welcome letter will provide information about getting new credit cards.

What will happen to my convenience checks used to access my line of credit?

Those checks will no longer be usable after the system moves and your account number changes. They should be destroyed in a secure manner after the system move is completed. Your welcome letter will provide information about getting new checks.

What if my payment is sent to the old payment address after the move?

For the first 60 days following the servicing transfer date:

  • Payments received at the old address will be forwarded to the new payment address.
  • As your servicer, Wells Fargo will not assess late fees, provided your payment is received on or before its due date at either payment address.

Are there any changes to the requirements of homeowners (hazard) insurance?

See your welcome letter for important details about your homeowners (hazard) and flood insurance after the move.

What happens if I have overdraft protection?

Your account will continue to provide Overdraft Protection to your linked checking account after your account has been moved. However, please note these changes:

  • This account will be unavailable for Overdraft Protection advances to your linked checking account beginning at 4 pm Central Time on October 5. We expect that your account will be available beginning October 11, 2017. Please transfer any needed money in advance or make other arrangements to protect your linked checking account if you do not have any other Overdraft Protection sources during this time period. If you have other Overdraft Protection sources with available funds, those sources will continue to provide protection during this time period.
  • Overdraft Protection advances will be made in $100 increments after your account has been moved. As a reminder, interest accrues from the date money is advanced.
  • If you have an account type that is assessed Overdraft Protection advance fees for advances from this account, the fee will change to $12.50 each day we transfer money to cover a negative balance in your linked checking account. This fee will be assessed to the linked checking account.

If you choose to make changes to your Overdraft Protection, please contact Customer Service to discuss your options.

What are the benefits of accessing my account online?

  • There are a number of benefits to managing your account online. You can enroll with your updated line of credit account number after your account moves.
  • Save time by managing your accounts securely, anytime on your computer or on your mobile device
  • Pay your account from any bank
  • Conveniently view balances and payment history — in one place

What happens to my credit protection insurance and other optional products?

If you have credit protection insurance or optional products on your account which are active and/or in-force at the time of the move, your coverage will continue and there is no action required from you. Please read your policy for dates of product expiration/termination.

How will I receive my 2017 year-end information for tax purposes and for my records?

If applicable, you will receive one combined year-end IRS 1098 statement that will show the amount of reportable interest that you paid for the current year. We will mail this statement to you no later than January 31, 2018.