Wells Fargo review: loan modification 26

We have experienced the same indifferent and condescending attitude from Wells Fargo Home Mortgage Insurance Department. We refinanced our home in October, 2010. It took forever and frustrated the hell out of us. Finally finished in November just before Thanksgiving. All was seemingly well until Sepember 2011. They sent a letter on 9/15 that was dated 9/1 that informed us since FEMA had NEW flood maps for our area - we would now be required to have FEMA FLOOD INSURANCE. Cost - a whopping $1400 per year. Of course they wanted it in place by 10/15! The idiots! FEMA flood insurance has a 30 day waiting period from the day you sign the documents. Wells Fargo told us that if we didn't have flood insurance by 10/15 - they would have to get it for us and charge us for it! To make a long, long story shorter - WE ARE IN A FEDERALLY DESIGNATED DISASTER DROUGHT AREA - and will not ever use FLOOD INSURANCE for the next year! What are we going to do! Never again will we do business with this companyh. I can't believe they treat their coustomers like this. RUN AWAY FROM WELLS FARGO AS FAST AS YOU CAN! NEVER again will I call those snakes!

Indeed, Wells Fargo is joke! We have never missed a mortgage payment and after filing for a loan modification due to our interest rate at an all time high of 6% the underwriter rejected the modification because the loan servicers were not interested in adjusting our interest rate. I plan to address this issue with NACA and contacting the Federal Trade Commission, as well as submit a complaint for predatory lending. We will never give in to a foreclosure or short sale. That is the most insulting request we have received from Wells Fargo. At this point, we plan on renting our home rather than give it up to them. The unfair treatment we have receive is unjustified. The Obama administration has failed the taxpayer!

I could not agree with all of the above comments more! We have been dealing with Wells Fargo for the past 15 months. First, they submitted an appraisal that was so high we could not possibly get an offer to complete a Short Sale. After 9 months of zero customer service and begging them to allow us to reduce the price to a competitive rate, we were told the Short Sale option had expired. We were then passed over to the Deed In Lieu Department, where we proceeded over the next 6 months to duplicate the file with documents we had already provided them numerous times before. The associate we dealt with, John Minesal, was completely imcompetent. He could not provide us with any timelines, refused to respond to any questions by email, would not give us a phone number where he could be reached, and ignored all attempts by us to get a supervisor involved. After 6 months of "waiting" on Wells Fargo to do something (anything!), we received an email advising the loan had been approved, but asking for a brand new set of financial figures. In the week it took us to gather this information, we received an email that due to non-compliance, we were no longer in the program. I cannot express the level of frustration in that I have dozens of emails requesting assistance, explanation, help, timelines, etc. without a response, duplication of every document we ever provided them, jumped through every hoop set before us, and then to be told they just didn't feel like dealing with us anymore. The last email simply said the manager was looking into a possible re-open, but in the meantime we were no longer in Short Sale status (we had been in Deed In Lieu for 6 months, but the letter we received regarded cancellation of the Short Sale). When I called to ask about the descrepancy, I was advised our case had been assigned to yet another associate. This one proceeded to explain that the Deed In Lieu had a timeline requirement of 60 days, and apparently, during the months that I was writing to get updates, Wells Fargo allowed the deadline to pass. When we submitted yet another copy of the documents to this newest associate, we were told that the Financer felt it had taken too long, and would no longer approve additional extensions ... all of which were the direct result of utter and complete incompetence by the Wells Fargo Staff. When we received notification from family that the property had been published in the paper as being up for foreclosure on 04/07, and without "ever" receiving notification of the sale from Wells Fargo, we called to get another update. We were then told by Wells Fargo that we had to call the Foreclosure Attorney to get more information. After calling the Foreclosure Attorney, we were told Wells Fargo is calling the shots and they have to answer our questions. We are lucky to get someone on the phone at Wells Fargo that knows what system to use to pull up our account, much less get "anyone" on the phone with knowledge of any detail... all saying there just isn't much in the file (AFTER 15 MONTHS OF COMPLYING BY THEIR RULES AND JUMPING THROUGH THEIR HOOPS!) Apparently, I have more in my email box from Wells Fargo than they have in their entire system. When I explain some of the things that have occurred, I get the same response ... "I'm not saying you're not telling the truth, but that's just not what my system say." The home is scheduled to foreclose on 04/07. We still do not have any answers, are going to receive the biggest hit to OUR CREDIT, have not had an opportunity to get belongings out of the home, and have received ZERO assistance from this company. I will never use Wells Fargo again in my life... and will never recommend them to anyone I ever come across. I have spent my entire life watching my finances, paying my bills, and complying by the rules, and for this to occur due to a hardship, is unfathomable. There is NO help by Wells Fargo, their employees are inempt and improperly trained, and have no accountability for their actions. They are dealing with people's homes, their livelihood and their financial future, BUT DO NOT CARE!

Wells Fargo should of stayed in the security business. Banking is not their specialty! Tee Hee!

To All!

Please do not give up! you can get help. I know it has been a fight dealing with the banks. This is what they want us to do. Honestly, there were times when I wanted to say to hell with it and let them have this house. Oh no. We decided No Way!

You know. This will take a toll on you and your family as well. I was listening to the radio and they were advertising a law firm who specializes in helping with loan modifications. They can mediate with the bank. It is such a shame we have to result to this. We will probably go with them if we cannot get help from the Illinois attorney general (Actual loan modification).
They collect all of your information to disqualify you not qualify you. I truly believe they are going to modify a dam thing. Why would they continue to send acceleration letters to us.

I honestly believe that you need someone to speak on your behalf with the banks. They just treat the homeowners any kind of way and tell them anything! With no intention of helping or modifying. I am really coming to the realization of this.

We too have a binder with a ton of info sent over the past 13 mos sent to Wells Fargo for a loan mod. I am not sending them another thing! We are dealing with the Attorney General now!

Wells Fargo is the absolute worst!
I had to stop doing the faxing/calling run around for a couple of months.
It was ALL CONSUMING.
I spent 4-5 hours a WEEK faxing, calling, re faxing etc. An incredible amount of BS.
I'm too tired to even SPEAK/TYPE about it.

I have a file that is over 2 INCHES THICK of paperwork I've sent to them.
We've tried to get a mortgage re finance since 2009 Feb. Our incomes were cut by 2/3 over a year! And we were never rich... just doing our jobs (which vanished) and paying bills.
Wells Fargo: NOTHING. Obama advertised possibilities: NOTHING.

The banks WANT us to give up... who the heck WOULDN'T?
It's hideous, unprofessional, obvious and evil. I just had to take a mental break. It was seriously affecting my HEALTH! However, I fear I will be back at it, fighting, faxing, calling this month.

Wells Fargo and the banks need to bust.
All OUR tax payer subsidies going to help something that's "too big to fail?!?!?!"
It is absolute BS.
WITH our money!

Where is the government on this?
Absolutely criminal!
Helloooooo... Mr. Obama?
Helloooooo... Mr. Speaker of the house?
What gives?
We are not idiots or foolish.
This cannot stand!

Let me be more specific. The servicers and the investors do not want to help the homeowners. I was told that they make money off the foreclosures and about 1000 if they do a loan modification. There is really no incentive for them to modify the loans. This is just something I was told! Sad! Sad! Sad! They would rather foreclose than to work with the homeowners!

The banks got their bailouts from the govenrment. Now they do not want to help the homeowners. Its sad!

Please Read! I hope this Info helps! Please pass it along!

I surely know what all of you are talking about, we have been trying to get amodification with Wells Fargo for 14 mos now. Same story. I will not bore you with the same crap details. Whenever we called to check the status, it was always it is in review. No one could ever tell us at what area in review it was in . On 1-14-11, I spoke to a rep by the name of Craig 60A. He told me that we did not qualify for the gov. Program (HAMP). He could not tell me the reason why. He stated we would we looked at for Wells Fargo's in house loan Modification program(Yeah whatever the hell that may be). Now we have been told already by the Illinois Attorney General that from review of our paperwork, we qualify for HAMP. In the mean time, we have received a letter threatening acceleration if full payment not received by Feb. 8th. I have contacted the I lllinois Attorney General's office(Lisa Madigan) and filed a complaint. Homeowner Helpline: [protected]. Which I had did while submitting the paperwork to Wells Fargo for the gazillinionth time. I just hate so bad that these people are sooo greedy! They have the poor reps lying to the homeowners while the big chiefs hide behind them. They would rather foreclose than to help you modify the loan. That is very sad! I am soo determined to fight for my home. My advice to everyone in this situation is a s follows:

1.you could contact the attorney general in your state. They may have help to submit your loan mod paperwork. Thats what we are doing now.
2. Contact the Federal Trade Commission at [protected]. (It may take tries to navigate through the automated phone system and actually speak with someone.) File a verbal complaint and received a case number. The Federal Trade Commission logs these complaints to determine trends and if they determine a trend, they will file a “class action law suit” against the offending business/bank. Once you receive a case number you will automatically be put into the “class action law suit” if one becomes necessary. The more people that file a similar complaint the better chance of a “class action law suit” being filed.
3. File a detailed online complaint with the Regulatory Agency (www.helpwithmybank.gov) “Office of Comptroller of the Currency(OCC) ” of National Banks. Once the complaint has been filed they will issue you a case number. Then the OCC will contact the lender (Wells Fargo) for a response about your specific situation. Hopefully, they will be able to apply sufficient pressure to get the ball moving again. Their primary function is dispute resolution. They will not get involved if legal action has started. There is additional information at (www.helwithmybank.gov)
4. Maybe try a non for profit organization like NACA (Neighborhood Assistance Corporation of America)
5. Contact your congressman
6. Hire an attorney

If every one can do this, this may expose them. Wells Fargo try to be slick. The reason I say this is because they try to act like they are so helpful while they are taking your home right under your nose.

Why is it that they are allowed to put negative info on your credit while you are supposedly in a modification with them?

Why is it they are allowed to continue with colections and foreclosure procedures while you are supposedly in a "Modification"? How can these things exist? Why are they allowed to do this? I truly do not get it!
I really hope that the head execs or even the CEO reads this!

I wish someone would go in and audit them to see just how many loan mods have really been done.
Good luck to everyone dealing with these people! They are very difficult to deal with! Please feel free to email me if you would like to talk candid1021@yahoo.com .

***IMPORTANT ***

If anyone has a letter from Wells Fargo stating "Do not pay for 3 months" on their loan modification, and could send me a copy I will be filing a suit against them. I was also told they would not accept my payments by mail. If you were informed of the same in writing please also send that. Please email copy of the letter to WFScam@hotmail.com. Thank you!

I called Wells Fargo in mid September looking for financing for a home I found and wanted to make an offer on. The first WF mortgage consultant asked me if my dowmpayment was from dealing Marijuana and then suggested I lie about the source of dowmpayment by saying I had just sold a personal vehicle.
The next mortgage consultant I tried from WF seemed pretty good at first but even though I provided every single piece of information they wanted with in 12 to 24 hours, they took forever processing my request. This WF employee never gets back to me when he says he is and has an excuse for everything and blames everyone else for delays.
They ran my credit score 3 times in one day and are trying to charge me for each attempt.
My closing date is coming up soon and I am very nervous that WF will not have completed their appraisal and the closing will get pushed to 2011 which will be a negative tax situation for both the seller and me.
I am a shoe-in for this loan and should have closed on the house 6 weeks ago.
At one point I called Quicken and they had pre approval in 12 hours. I would have stuck with them but they don't loan on manufactured homes.
Wells Fargo Mortgage loan division is a complete junk show. It is really hard for me to believe that such a large company can be run so poorly.

March of 2009 I started the modification process; throughout this timeframe I would routinely call provide updated paperwork and be told to wait patiently "a lot of people are trying to do this". In May of 2010 I FINALLY thought I was getting somewhere - to be told "hmmmm you have been in the process for a long period of time." I then found out I had been denied the initial modification, but I was being considered for others - keep sending in the documents. Now recently I was sent documents for a modification - read through the documents - were we moved the missed payments to the end of the mortgage. Called into confirm that I didn't need to send some type of payment (contribution or otherwise) and was told no and promptly returned the documents within the requested timeframe. YEAH PHEW DONE-WRONG. The saga continues! For the last three weeks I have been trying to get a consistent/ACCURATE answer from wells fargo - because I'm being told that I have to pay my sept payment early. Initially I was told it was a contribution payment and then the representative, when challenged, pretty much told me I was incompetent and all of these modifications are going to have contributions because she had years of experience and didn’t need to read any documents. Later, in speaking with her supervisor, it was determine that it was not a contribution but just needed to pay Sept payment now to close the deal. I asked where was this in the paperwork? They couldn't tell me. I then called in again to see what answer I received from the next customer service representative. No, don’t need to pay now, just send in before Sept 1; would you like me to setup the payment?. Okay, fine; but no, since I didn’t know if I could trust the answer. And I wasn’t confident that I paid in July would that payment really go to sept?-. Then I get an email stating that they have not received my documents. I then call back into the lovely customer service – and was told that they had received all the documents and I was good to go. I took the opportunity to ask about the payment - they ask when do I plan to pay - I stated probably end of this month(july)/mid next. All is good. WRONG. I then get another call and I call back in and I am told that i just was a courtesy call about the payment. I then tried to get them to tell me when the payment was due they "thought" by Sept 1. OF course, that made feel that i was getting accurate information - WRONG!. I played this game a couple of times - getting information, calling back in to see I would get the same information. And I thought I was good - Pay before Sept 1 to finalize the deal. TODAY I get a call stating I must pay be the 28. TODAY is the 23. WHAT? And like the wonderful customer service reps are at wells fargo - yes mam - pay on the 28th – “I advise you to pay on the 28th. Then I couldn’t resist the battle of general customer service skills. Which I was then told that I should let THEM finish talking. They supposedly don't have supervisors on the floor to assist them – hmm I smell a fish. They supposedly don't have numbers to other departments to transfer you. I then hung up and tried again...this one again told me that yes the investment company wants payment by 28th. I asked where was this in the documents that I signed – she couldn’t locate the information. She at least “faked” and email to someone – we shall see if I get a phone call from that. (keep in mind the representative before state that none was assigned to my account and she didn’t have away to connect with anyone on my behalf). I HAVE HAD ENOUGH OF THE POOR CUSTOMER SERVICE. Let my pain be a lesson to you. Keep records of your calls - names (what you can get of them and their wonderfully useless three digit identifiers) and conversations -you will need that information you lodge a formal complaint! I have only just begun my word-of -mouth campaign. Customer service at wells fargo is lacking in customer service.

It is SAD that so many people have the same complaints about WF! We are going through the same BS with them! It is physically and emotionally exhausting! So much that I am too tired to even post all the details, but I can promise you it would be just like reading all the above comments. WF are a bunch of lying, dishonest people who are in it for our hard earned money and homes we built. It baffels me that they are so unwilling to help people lower their payments and would rather forclose on a home when that is exactly why this country is in this unfortunate situation! I am told that I have to call them several times a week to make sure they stay on top of our modification...WTF? When are they gonna add me to their payroll? On top of working my full time job and raising 2 small kids, I now have to spend hours on the phone with a different person every week! Why hasn't the right person read this blog and do something about this crooked company? God help us all!

Dear President Obama.
I declared myself bankrupt and I was discharged of all debt due to lost of employment. I started working with Wells Fargo for a Modification Plan. They offered me one with higher payments than original mortgage, I declined. They offered me a second plan for a little less money but was still not within my means. I rented a townhouse meanwhile thinking this was the end, one year later Wells Fargo offered me the Obama Plan for an amount that I could afford so right away we called and were accepted. The three trial payments were made and still Wells Fargo was going for the foreclosure, at the foreclosure hearing when I produced the letter from Well Fargo offering the Obama Plan the attorney for the bank withdrew the motion and both the judge and the attorney advised me to continue making payments and keep receipts which I have. Meanwhile my Fannie Mae mortgage was bought by Wells Fargo from Fannie Mae (no doubt with our own bail out money). Wells Fargo still dis-acknowledges said plan even with letter in hand. Wells Fargo sells mortgage to another bank who is now attempting to foreclose on my house. Today a man shows up at my door taking pictures of my house and tell me the new mortgage holder ordered him to change the locks on my house. I need help to sort all this out.

Just this morning I lost my temper (not a normal trait for me) with an idiot on the telephone from Well Fargo Mortgage Modification. This was just one more typical call from them we have become accustomed to. We have been going through the same run-around as everyone above for the last year and four months.

I am a disabled Veteran. I am doing my best right now to deal with physical and mental disorders I received when trying to preserve the Consitution of this great nation. I would go and do the same thing right now if I were not so old, warn-out, and tired.

I retired from a good civilian career in 2001. We maintained an 800 credit rating throughout our marriage of 42 years. We did everything in good faith. I grew up in a culture that respected others and kept our word when we made a deal. Honesty and integrety were our most valuable posessions. It is difficult for me to understand the spoiled, greedy, selfish culture we now see in our beloved America.

When things started going down the toilet a few years ago, so did my retirement money. I watched my life savings disolve like water behind a broken dam. My personal IRA that was providing us a retirement income took a crap requiring us to cut our dispersments by 2/3. At that time we went to Wachovia Bank to discuss a solution to our mortage payment situation. They cheerfully refered us to their mortage modification office in North Carolina. We didn't know it at the time. But, that is when our HELL started. I will not bore you with the same story I see above. Suffice it to say we are victoms of the same insensitive, unprofessional, uncaring, downright evil run-around as everyone else above. There is no doubt in my mind that this is a criminal, intentional, well-designed process to rip off the taxpaying citizens of this nation. They kept the 2.9 billion dollars we gave them through taxation. That is not enough. They are milking us for every penny they can squeeze from us. Then when they finally wear us down they comfiscate our homes through forclosure.

Nothing can convince me now that their actions are motivated by anything but evil greed.

I have watched my wife who handles the bills go through 16 months of frustration and hell. They lost papers, lied, and kept us in the dark for 16 months. We truly believe that they prey on people like us who have a conscience, pay our bills, believe in honesty in business, and are trying to do the right thing honoring our debts.

Our government is ripping us off. The banks are ripping us off. Our politial leaders are willing accomplices.

I know that my heavenly father will take care of us in the next life. But, God, help our nation!

Ed Krall, American

I agree I believe they want you to give up.We've been doing our modification for 6 months now and every week they want the same documents.It is exhausting.Now they send my husband a paper to pay 3 months worth of payments(WHICH IS THE SAME AMOUNT OF THE MORTGAGE).Then they would consider us for a loan modification HELLO! We were having problems paying before if we could pay our mortgage we wouldn't be asking for help.I hate to say this no really I don't.They SUCK!What happened to helping someone when they are down.They prefere to kick you and be a pain in the a--.People don't give up.I'm not .

We recently refinanced our Wells Fargo mortgage with WF. It was nightmare. Repeated delays with no explanation other than held up in underwriting. Then because of their delays we didn't meet deadline and had to revalidate information they had on file from three months before. Our 45 day close was over four months. We are retired and after 13 years of never missing or having a late payment they expressed concern over our being able to make a lower payment? After closing we had to re-execute the paperwork because they left my husband's middle initial on some of the pages. It took over a month to get our refund for the prepaid house payment from the original mortgage...the check was dated the week we funded so they may have issued the check, but it was not mailed. Then they sold the mortgage! I think the delays are a strategy to wear you down so you cannot take advantage of the lower rates. My nephew and a friend started the process with WF and they gave up. I guess we were just too stubborn to let WF win.

I am having a similar problem with Wells Fargo Financial. They are calling me 4 times a day looking for payment - that was, and has been paid on time. The check cleared prior to the due date. In addition, I got a letter saying they are sorry we couldn't come to a mutual understanding regarding my situation and offered debt credit counseling. On top of that, they ran a credit report - and I have not been late. So, I think I may do the Attorney General complaint. They claim the letter they sent was to let all of their clients know there are options if they are having problems paying their bills. Well, I am fortunate that I am not in that situation - and am dealing with them harassing me. I get a different customer service agent every time, who cannot see why I am getting calls and letters. I have spent over 90 minutes on the phone trying to get this issue resolved - to no avail. I have been told repeatedly that my phone number has been taken out of their system - which is not true. It is the complete run around - and a ridiculous amount of time trying to resolve a situation that isn't even a situation to begin with! And the good news is they bought out Wachovia, so my car payment is the next on the list of accounts I have with WF. Yikes!

I am having a huge issue with my loan modification. I filed a BBB Complaint, as well as an Attorney General Complaint and they have failed to respond to either one. My issue is that I followed the trial period payment contract to the T, as well as the final Loan Modificaton Documents I received, payment by payment; however when the Loan Modification was processed and my loan was actually adjusted someone made an error, apparently their qualified and studious Loss Mitigation Deparment Staff can not comprehend how I was making payments due about a week before their due date and absorbed a complete payment. I am now again one month past due. I've proven to them that I've made every payment; their answer was to offer me a payment history again and again. They have failed to do their research as well. I'm sick of the run around, speaking to random people about the same issue, getting poor customer service and poor answers to my questions. I am prepared to file a Civil Suit against these people if this issue is not resolved promplty.

I really hope that significant from Wells Fargo are reading the reviews and comments being made about them! Not that they would probably care anyway! I am so disgusted!

I must agree. Wells Fargo gives you the run around by asking you repeatedly to fax them items that they know they have received. I truly believe they are stalling in hopes that you will give up the fight! They continuously do this. I would encourage you to contact NACA(a non for profit organization). This is whom we are going through.

We have been trying to get this modification since Nov. 2009.

You are definitely not the only one, I just can't figure out how they can keep doing this to families over and over and the government has yet to look into this..they conduct bad business, and your right nobody knows what's going on, they have so many hands in the cookie jar all at once and they obviously feel it's a waste of time to log notes...hello! I thought communication is the key to all, But I Guess WELLS FARGO is exempt. How unfortunate and negative! It's exhausting and irritating to get different contradicting letters in the mail a day apart stating so many different things...Straight unprofessional. Crooks and con -artists go to jail, so what's up with Wells Fargo?!

I am glad to hear we are not the only ones! This is EXACTLY the same experiences we are going through. Each person at wells fargo telling us a different story, lost faxes, etc. We have a second mortgage as well with Homecomings Financial who did the whole process over the phone and the loan was modified in two weeks! We have been doing this process with Wells Fargo for 9 months and still nothing! They are completely jerking us around. You send them everything...they say everything is in order and then a letter shows up that we didn't respond to a phone call, or they are missing something that we didn't provide them so we have to re-submit everything again! They must be made accountable for this! They have stolen the tax payers money and helped NO ONE!

I have never had such unprofessional service as I have had with Wells Fargo. Since March. 09 I have been going round and round with them about getting a loan modification for our home. Obama was clear about the guidelines for his program, yet Wells Fargo is playing games to try to prolong the process. It is my understanding that Wells Fargo took 2.9 billion from the Federal government to make give relief to their customers just for Obama's plan. After 5 lost faxes and 15 phone calls (all averaging over 1 hour) we have been forced to stop payment on our home due to significant lost of income. Meanwhile, we were sent bogus paperwork saying we agreed to a partial payment plan (which we never did) called a forbearance. After calling Wells Fargo to find out what this was about, some fool said that we made too little of money to qualify for Obama's plan. After asking to speak to his supervisor, the supervisor said that wasn't true...we made too much money. After talking to HIS supervisor, it turns out they lost the 5th fax and never updated the information. Meanwhile, it is OUR credit, OUR life, OUR stress, and basically OUR problem. We are not asking for anything that we are not supposed to get according to the President. Since when can a mortgage company not follow the leader of the nation's law? I am amazed at how many good, hard working people have been laid off from jobs and yet Wells Fargo has managed to employee the most incompetent people that walk the face of this earth. To make matters worse, it is these individuals who have access to my private information. These are indeed sad times for the common consumer! Good luck everyone! Keep posting your experiences for everyone to see. That is the best way to deter business from this company!

Sound very similar to my case. I have been in the modification process since November 2008. Every time I call they gave me a different response. I have done everything they asked me to. The bottom line I have learned is that they are only looking out for their best interest. They have already received a bailout from the taxpayers to recoupe any loses they had and now they will make money by foreclosing on homeowners in this situation. It's is a joke. They tought me in school that cash is king. Not even the President can take this on. I have given up and have accepted the fact that I will just be another statistic. My health is at risk but who cares.
Good Luck with your modification. Keep fighting the good fight!