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Wells Fargo

4402 E Thomas Rd, Phoenix, AZ, 85018, US
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Wells Fargo - wells fargo-terrible service to customer of 38 years

I started a refinance on a property in June of 2009. As of November 21, the process is still in place. This is a $38, 000 refinance for a loan Wells Fargo already services. My credit rating is over 800 and I have banked with the same account at Wells Fargo for over 38 years. The first month there was not action at all. After two months I was asked for more details and told it was about to close. I was then asked for information on the HOA. I submitted that information to Wells Fargo. A month later Wells Fargo said they provided the wrong form and needed this filled out. The new form had just one small change on it in a question. This cost me an additional $100 to get HOA certification again on the new form. Then Wells Fargo said they needed more details on the insurance even though the insurance provider gave them the actual insurance document. Wells Fargo said they needed the HOA to complete a form given the insurance data and could not use the actual insurance papers. After being told the loan would probably close in about a week, I call back about three weeks later only to learn nothing has happened and the person told me a lie --- the document had never been sent in and he apologized. Wells Fargo then claimed the assessments for the HOA association had more than 15% of the residents late and needed to know their actions. The HOA said Wells Fargo had wrong information that this wrong and worked directly with Wells Fargo to show, late assessments were less than 13%, and rentals were under 20% or possibly less. Additional documentation was sent to Wells Fargo supporting this. The person working on the loan at Wells Fargo said he would complete the paperwork and re-forward to underwriting. One week later I called to ask what was up with the refinance and the person at Wells Fargo could not remember and then realizes he needs to be sent to the underwriter. He had told me one week earlier it had been sent. During these past 6-months, I have called the supervisor and manager for the person working on my loan several times. I cannot tell you how many times they have failed to tell me the truth. After being a customer for Wells Fargo for over 38 years, I am done with them. Here are more facts: The loan is a refinance that they already service. The refinance is just $38, 000. I have a credit rating well of 800. I have been a good customer of Wells Fargo for almost 39 years. The property being refinanced is a nice established lake community is Arizona. This loan process started in late June (about 6 months now). The bank continues to fail to respond to calls and has lied in saying it was processing the loan while it sat on desks for weeks and at one point one month. I have in my own personal checking account almost the total that I am trying to refinance. I am refinancing an old loan Wells Fargo has serviced for years. It was an FHA but I want the FHA off it so going conventional. The loan is currently a 9% interest and the new refinance is locked in at 5.1%. It would appear Wells Fargo is doing everything possible to keep the FHA and locking me up in the process from going to another lender. Try to find someone at the bank who well help or even call back --- almost impossible. After banking at Wells Fargo for 38 years, I can clearly state their service has sunk to the lowest levels.

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750 Credit Score
Tecate, US
Oct 08, 2011 6:04 pm EDT
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On April 21st and May 9th I posted comments on this site regarding problems with Wells Fargo. Since then I have written a number of letters to Wells Fargo and the Comptroller of the Currency and spoke with several, higher-level people with Wells Fargo. I have the names and addresses of the bank vice presidents if anyone wants to write letters. Wells Fargo's bank president is John G. Stumpf. His work address is: Wells Fargo Corporate Offices, 420 Montgomery St., San Francisco, CA 94104. His home address is 1090 Chestnut Ave., Apt.12, San Francisco, CA [protected].

For Wells Fargo it all comes down to taking your money and not honoring the interest rate that they promised. They refuse to refinance my mortgage that is already with them and they will not give me a refund of the $609 they took from me. Michael Salmon and Michael Dullea received their commisions as well as the title company and appraiser. Believe me, these people are liars and cheats and will wear you down. Wells Fargo does not have to answer to anyone. The Comptroller is a total joke and will just refer you back to the bank to resolve the issues. I am continuing to fight and may have a large number warning posters printed up and put on cars in their parking lot. For me, it's now a matter of principal, not money.

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Wells Fargo - wells fargo fails to refinance-untruthful

I started a refinance on a property in June of 2017. As of November 21, the process is still in place. This is a $38, 000 refinance for a loan Wells Fargo already services. My credit rating is over 800 and I have banked with the same account at Wells Fargo for over 38 years. The first month there was not action at all. After two months I was asked for more details and told it was about to close. I was then asked for information on the HOA. I submitted that information to Wells Fargo. A month later Wells Fargo said they provided the wrong form and needed this filled out. The new form had just one small change on it in a question. This cost me an additional $100 to get HOA certification again on the new form. Then Wells Fargo said they needed more details on the insurance even though the insurance provider gave them the actual insurance document. Wells Fargo said they needed the HOA to complete a form given the insurance data and could not use the actual insurance papers. After being told the loan would probably close in about a week, I call back about three weeks later only to learn nothing has happened and the person told me a lie --- the document had never been sent in and he apologized. Wells Fargo then claimed the assessments for the HOA association had more than 15% of the residents late and needed to know their actions. The HOA said Wells Fargo had wrong information that this wrong and worked directly with Wells Fargo to show, late assessments were less than 13%, and rentals were under 20% or possibly less. Additional documentation was sent to Wells Fargo supporting this. The person working on the loan at Wells Fargo said he would complete the paperwork and re-forward to underwriting. One week later I called to ask what was up with the refinance and the person at Wells Fargo could not remember and then realizes he needs to be sent to the underwriter. He had told me one week earlier it had been sent. During these past 6-months, I have called the supervisor and manager for the person working on my loan several times. I cannot tell you how many times they have failed to tell me the truth. After being a customer for Wells Fargo for over 38 years, I am done with them. Here are more facts: The loan is a refinance that they already service. The refinance is just $38, 000. I have a credit rating well of 800. I have been a good customer of Wells Fargo for almost 39 years. The property being refinanced is a nice established lake community is Arizona. This loan process started in late June (about 6 months now). The bank continues to fail to respond to calls and has lied in saying it was processing the loan while it sat on desks for weeks and at one point one month. I have in my own personal checking account almost the total that I am trying to refinance. I am refinancing an old loan Wells Fargo has serviced for years. It was an FHA but I want the FHA off it so going conventional. The loan is currently a 9% interest and the new refinance is locked in at 5.1%. It would appear Wells Fargo is doing everything possible to keep the FHA and locking me up in the process from going to another lender. Try to find someone at the bank who well help or even call back --- almost impossible. After banking at Wells Fargo for 38 years, I can clearly state their service has sunk to the lowest levels.

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Update by CalvinAZ
Nov 21, 2009 2:00 pm EST

I should also add that for this loan, the property value is more than twice the amount of the refinance.

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Teresa818
Killbuck, US
Sep 16, 2010 12:18 pm EDT
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The end of July we talked to a loan officer at the Wells Fargo in Canton Ohio. One question we asked before we started is will we have to come up with a down payment. We was told no. We applied & it was sent to the main branch in Indepence Ohio. They told us we was approved at the beginning of Aug & we had to turn in some more info. So we turned it in. Than they wanted more & more & more. The whole month of August was a nightmare! Each time they asked for something we turned it in within a day or two. To make a very long story short around Sept 2 they told us we needed $3, 200 for closing cost & down payment. I tried to call to find out how much was closing cost & how much down payment. No Answer so I emailed. The returned email stated we need $2, 065 of our own funds. But she still didnt answer my questions. So I emailed again & she told me to call. Well I finally got thru for her to tell me that I need $2, 065 & I have to show proof that it was in my bank for at least 30 days or it could be a gift but I have to show proof it was in there bank for 30 days!. WHAT?! I was told I didnt need any down payment! My closing date is the 28th and they just told me. Dont deal with Wells Fargo! We was first time homebuyers & now I dont know if I want to ever buy a house. Does anyone know who to call to complain? Even though Wells Fargo will ignore it!

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Siobhan Isaac
Copperas Cove, US
Jun 03, 2011 1:05 am EDT

Wells Fargo and USAA did not talk to one another regarding my insurance. I did not find this out for almost a year, and one day Wells Fargo began over drafting my account. I called to complain and they told me it was because my home insurance had expired. I asked how that was possible considering I had USAA and had them for over a year. Wells Fargo said another Mortgage company was listed (one I have never heard of). I asked why didn't they notify me; and they said they had tried notifying me in Afghanistan, even though all my bills come to my house in the states. They have been taking an extra 206.00 every two weeks, for the past 4 months! I am a single mother, who is transitioning out of the Army. They keep having excuse after excuse for the 'glitch'! Very unsatisfied! USAA refunded my money within 3 days! Highly recommend them!

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myhome
, US
Dec 21, 2009 8:43 pm EST

Living a Wells Fargo Nightmare. I had an arm mortgage with Wells Fargo. Paid down almost 25 percent. Our income dropped still make a decent salary and I requested some kind of arrangement. It has been one year. The agents tell outright lies.

One agent will dispute what previous agent said. For those taking mortgage with Wells Fargo, Think a gazillion times before you decide to go ahead.

My experience is extremely bad, extremely unprofessional. I would never ever deal with this kind of bank again. I will boycott Wells Fargo for good.

There is absolutely no point in having a family linger on for a year, take their money and do nothing.

This bank is practicing economic slavery and they have forced me and my family through enormous hardships.

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Tajsultani
Newville, US
Sep 14, 2010 11:52 am EDT
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I tried to do a re-finance with them. All went well until the appraisal. Nobody told me they were hiring some idiot who lived in another state to do the appraisal. The guy called me wanting to know what he was coming there to do, then couldn't find the place with a GPS (seriously!), flew through the appraisal and at the end started asking me questions that had nothing to do with the property - turns out he had pulled the tax assessment for SOMEBODY else's place, with a road name somewhat similar to mine. I hever heard another word out of anybody after that. I called appraiser 1 mth. later - told he couldn't talk to me or give me a copy, agent and loan officer at WF both refused to return my calls or emails. It has now been over 60 days since process started, I am out $350 for appraisal, no word on whether load is still "active" or not. Don't recommend them - I should have paid attention to the complaints and gone elsewhere.

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DWN
Beaverton, US
Nov 06, 2009 1:57 pm EST

I have been attempting to work with Wells Fargo the past Five Months to resolve an error they made which led to a negative credit report on my otherwise flawless credit history.

I received mis-information from two Wells Fargo represntatives regarding a refinance. They have been horrible about following up with me and I have to continue to contact them for answers. They refuse to acknowledge and correct THEIR error.

I manage approximately $8 million in annual revenue. I am looking to finance a second home. Based on the unbelievable poor service from Wells Fargo, they'll never be a banking option for me or my clients.

They just don't seem to get it.

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Carol erb
Fleetwood, US
Feb 09, 2012 10:58 pm EST

I am trying to refinance with Wells Fargo and was told there would be no problem. I received a call that there was an issue because my mortgage with Wells Fargo was not reaffirmed so they have denied me my refinance. I contacted Wells Fargo on January 23 and spoke to their Bankruptcy department about the reaffirmation and they stated they would get me the paperwork in the mail by January 30. My attorney also advised me Wells can send me something as well. After several weeks I called them back and was told that my request was cancelled and they were not notifying me that they were not sending me what was promised. This is twice that Wells made me a promise and did nothing. Carol Erb

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DeeKhan09
, US
Apr 01, 2011 5:49 am EDT

For 5 months, my fiance and I have been working on a home loan through Wells Fargo. We've done everything they've asked for. We got our credit scores up within a 6 month time frame, we've submitted our tax info and work wages, saved up enough money for the down deposit amount that they provided us, but yet, those weren't still enough. During the whole 5 month process, our file has been constantly passed down from loan officer to loan officer - each wanting something different or not satisfied with what was on file. So they ask for more. They denied us when they found out that my fiance was working for family. Their excuse was that her wages were inconsistent, made too much for what degree she has, or doesn't believe that she doesn't have any ownership to her father's business. I've never known a bank to turn someone down just because they made too much to pay them back. I would never recommend Wells Fargo to anyone. FYI, coming from one of their own loan officers, he stated that 45% of the Wells Fargo customers were unhappy with the way the bank was handling their business with the bank. I think that should be reason enough not to even attempt banking with them. Thank you for your time in reading this post.

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need advice
Northport, US
Oct 03, 2009 9:14 pm EDT

I don't know where to turn. My daughter and her husband applied with Wells Fargo mortgage for the federal mortgage relief program, because it was hard for them to make their payments and they wanted a lower interest rate. My daughter applied online with Wells Fargo and then talked to them by phone. They said there was a long waiting line and it may be 30-45 days before she heard anything. She was already 1 or 2 months behind on the payment and she asked the representative if she should make a payment while waiting on an answer to her application. She was told, NO, do not make a payment, just wait. After a month, with no response she called again. She was told again to be patient it may be another 30-45 days and do not make a payment. After a 3 - 4 months she got a letter that they were going to begin foreclosure proceedings! She was in shock! Then the next day another letter came saying they were turned down for the mortgage relief plan because they made too much money. Their gross wages are less than 50, 000 / year and they have two small children. Now they are telling her that she must pay all the late payments at one time and also pay attorney's fees to stop the foreclosure proceedings.
If their own company told her to not make a payment and now they want to foreclose, isn't that fraud ! Any advice would be greatly appreciated.
Thank you

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Niel
, US
Jun 14, 2009 4:07 pm EDT

Lost my home due directly to illegal acts of the Wells Fargo Home Mortgage Banking Institution. Late for a mortgage, called, tried to sell the home for the debt only but of course not due to the loss of value nationwide. Finally after multiple of calls to the 'maze' of individuals in the banking institution a particular party naming self as Camica says just pay us a set up fee of 2500.00 and we will be able to modify your loan which then made the payments 2392.00 per month. So, we immediately did so. Then they switch it to a forebearance expecting us to pay them 12, 457.00 after they received the funds. Also, a letter we received stated explicitly that we would be refunded the money if we were not accepted.

Guess what this is now over a year ago and we never received the funds back, they took us into foreclosure and we are now out. We took this to the FDIC, OTS and the WA State Attorney Generals office and even the Better Business Bureau of the home state of the banking institution to no avail other than a lip service postage form letter. I must add though here the WA State Attorney's Offices were quite helpful with some confidential advice contrary to all of the other governmental offices that did nothing and are probably being paid by WF under the table to do nothing.

Yes, in error for a financial struggle but were caught up in all areas except this nonsense with the WF folks and were prepared to be caught up with them also. We had a combined income of over 10, 000.00 per month at the time and now all lost. Then we turned all of our paperwork over to a nationwide financial audit team with the possibility to investigate or at least a direction of protection from such and find that the bank, the closing folks and all were guilty of 24 violations relative to RESPA, bait and switch, loan closures, illegal manipulation of the interest rates from our offer through closing of the home plus, of course, the interest rate increase that was not the '6.5 but ended more after all is done.

The audit team suggested a law suit however we did not have the expected findings of having to put out over 7000.00 up front to a law firm (called on many and that was the average amount stated) due to the fact they would be doing battle with a bank that has large amounts of funds from depositors to delay any action and 'basically try to wear us out' with years of litigation expectations. So, we end up loosing our home and moving out of state, loosing employment due to this and now we must spend our energy presently to 'catch up' but will definitely keep all records for a potential class action law suit if this becomes a viable entity down the road - and we surely hope so. For, these people have not only ruined us but have heart us physically from it all too.

Stimulus? Where in the world is our government when the people need them for protection from the real enemy - the predators that are ruining this great nation! Stimulus? For who, those who have never had a home before with a loan and have never had a late payment and what? Get a life government folks and go get a real job for once that expects real results and come back with that kind of nonsense!

'Shut down WF' and the likes of them!

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GoodPerson
Atlanta, US
Sep 10, 2010 8:26 am EDT
Verified customer This comment was posted by a verified customer. Learn more

We have been Jumping through hoops since November 2017 for Wells Fargo to qualify for a mortgage adjustment. They have told us in writing our credit won't be affected as long as we do as the program outlines. We have done everything required and then some and even done it earlier than requested. They reported us to credit bureaus causing a drop in our credit reports from high 700's down to low 500's. Now, we're even getting threatening foreclosure letters while we are "supposedly" in the program. WE ARE IN WORSE SHAPE THAN BEFORE STATRTING THIS JOKE OF A PROGRAM! Didn't they receive billions to help citizens like us? They should be ashamed and the American public should know what crooks they are if they didn't already. SHAMEFUL! Class Action, anyone?

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