Complaint Rating:

Company information:
WELLS FARGO
1000 COOPER POINT RD SW
United States
Phone: 360-357-5581

About 2 years ago, my mom and I bought a house together. She also co-signed for a new car for me in 2005. Last Sept. my mom when to Wells Fargo and applied for a mortgage loan so she could get the house out of my name. Due to the fact that her debt to income ratio was off, Wells fargo contacted me about financing my car that my mom co-signed for into just my name. I applied for the loan and got approved. When my husband and I went in to go over the details of the loan, it came out that the interest rate was 19.99%. When I asked why they told me that my credit score was only 480 and I couldn't get a lower interest rate. I asked to see a copy of my credit report and he told me that he was unable to show me due to Wells Fargo policies. When my husband and I were about to turn down the loan and leave, the loan officer said that if i didn't take the loan there was no way for them to get my mom's house into just her name. A couple of days after signing the loan, I was notified that they were unable to get my mother approved and that I was going to be stuck with the house plus a 19.99% interest rate. A year has gone by and I recently looked at my credit score and realized that it has gone up about 150 points. I decided to call Wells fargo and ask them what my credit score was when I got approved a year ago. One of the loan officers told me it was 645, another loan officer told me it was 680, and then the manager said it was 580. Whatever it may be, it was no where near 480 like I was told. A loan officer also told me my interest rate was because of how much negative equity I have financed. He also went on to say that my loan was approved on the fact that they were able to finance my mom's house out of my name. In my opinion, my whole loan is a lie and based on false information. I would have NEVER signed the loan for 19.99% when my orginal loan was only for 11%, if I was told the truth about the details of my loan. After researching complaints about Wells Fargo online, I have found that there are many other people that were told that their credit score was low was it really wasn't!