refinancing home
To Whom It May Concern:
Please help me understand why Wells Fargo would not refinance my home. I have a 173, 000 interest only mortgage with Wachovia Bank which is now Wells Fargo Bank. I’ve had this mortgage since 2003 and I have never missed a payment. I retired last year and I have a combined monthly social security and pension income of $2300. When I bought this house it was my intention to sell before 2011 but that has changed since the downturn in the economy. I also have a condo that has a mortgage of $700 and I rent it out for $900.00 a month.
My credit score is 750 and I have about $1, 000 in credit card debt. I just set up a tutoring business that brings in a minimum of $1, 200 a month. Wells Fargo wouldn’t accept that because I just started the business this year and it is not on my 2008 taxes. I’m also in the process of setting up a dividend account with Edward Jones to receive $400.00 a month income. However this can’t be counted as part of my income because you have to show income for a year. These are my other assets:
Money Market $84, 000
CD $101, 000
Securities $101, 000
Savings $30, 000
stocks/bonds$70, 000
Life Insurance (cash value) $15, 000
I asked for a conventional loan but my house only appraised for 194, 000 so I agreed to pay $20, 000 on the principle to qualify for the 80% loan-to value ratio. They said they couldn’t approve that loan but would consider the loan if I had 75% loan-to value ratio, I agreed to bring the additional money. After weeks of sending them documents they finally said I just couldn’t qualify because of my debt to income ratio. I feel this is utter nonsense and Wells Fargo is continuing to deny African Americans low interest loans. NAACP has just filed a case in court against them for similar practice. I’m sending this letter to NAACP legal department, CNN, Channel 2, and the HUD office of consumer & Regulatory Affairs.
I am closing all my accounts and changing banks!
loan affordability program
Dear Sirs:
Today I reviewed my Home Affordability status online, and obtained the above result (see photo appended below). I called the listed number and spoke with “Valerie”. She said that my application for a workout agreement was denied because of failure to provide my financial data in the necessary format per the worksheet that I was sent on 4 May 2009. This statement is in error in several ways:
1. I was not sent a worksheet on May 4th 2009. I had pro-actively contacted Wells Fargo on April 24th and obtained by telephone communication the information that I needed to submit: Proof of income for the last 30 days, a hardship letter explaining the situation, and a monthly expense report.
2. On May 4th, I faxed the abovementioned documents to Wells Fargo Home Affordability Program.
3. On May 4th I also contacted “Julie” at Wells Fargo by telephone. I gave her a consolidated list of my monthly expenses. This verbal list was stated to be sufficient for the purposes of my refinance.
(financial information deliberately removed)
4. Per my letter of May 4th I never applied for a workout agreement. I applied for a refinance – it was Wells Fargo who sorted my application into the workout agreement path. I assumed that they knew what they were doing, and had accurately selected the path for which I was best qualified.
I have responded promptly to Wells Fargo in all instances where contact or information was requested. I have been inappropriately denied a refinance or loan adjustment due to mishandling of this application by personnel at Wells Fargo. I request a review of my case, and prompt contact to remedy this situation.
Sincerely,
Janet L. Chennault
The complaint has been investigated and resolved to the customer’s satisfaction.
Good luck. I am at my wits end and almost looking forward to moving to a new state due to a possible job transfer. The good Lord knows that there are not that many jobs around this area. Might be renting, but so what it is not worth all this headache, stress, wondering if things are really going to go as they say. It is a total nightmare. Try getting help from the CEO of Wells Fargo maybe there is something he can do to move things and get you with a more respectful agent and one who is honest. Not many of the reps I have spoken to have been all that helpful. I have faxed until my finger was all worn out with documents and more statements, paystubs. ACCKKKK! I agree with everyone here. WF you have bad karma .
employee abuse
Sure business is slow, but if you're the newest employee that they hired on right before the market crash, they push you out the door in a disgraceful manner. They pile up your record with bogus negative comments. And if that doesn't drive you out the door in about a year or so, they have a pile of "reasons" to let you go. I've always been a goody-goody in...
Read full complaint and 1 commentnot reporting my mortgage with them on our credit reports
I have had several mortgage companies as our mortgage loan has been sold repeatedly over the years. The last company is Wells Fargo. Just noticed recently and confirmed that they are not reporting our mortgage on our credit reports which is affecting our credit rating. We have never, ever missed a payment since we began paying on our house in 1996. All previous mortgage companies have been on our credit reports. Talked to Wells Fargo and after all was said and done they said that I would need an attorney to obtain addtional information. What an outrage. I saw on [redacted]s.Com website that they have around 1300 complaints against them. Anyone else having a similar problem with them not reporting to the credit agencies? And if so, what can I do to fix it? Should I just refinance and dump Wells Fargo altogether? Thanks.
The complaint has been investigated and resolved to the customer’s satisfaction.
They are many companies that are legitimate and can help homeowners stop foreclosure and keep their homes.
Mortgage Assistance Group is one of those companies that holds an "A" rating with the BBB and has help over 500 homeowners keep their homes.
They give a discount to the homeowners who have been scammed and treat each client with respect and dignity.
You can reach them at [protected] and at www.mag-az.com.
Thanks and good luck,
Randy D.
P.S. If you know someowner they can help, They will pay a $100 referral!
We are having the same problem with Wells Fargo. We have repeatedly called and sent emails and letters.
We are repeatedly told that they are reporting and it is the credit bureaus fault. I am sure they would rapidly report if we were
late on a payment.
What can we do about it?
harassing calls at home and work
There is a man there named "David" his demenor is awful, he is uneducated and screams all the time. He has called my place of employment and my home on several occasions, my husband and I told him to stop calling that we have no business with Wells Fargo, but to no avail, he continues to call. I called him once more today to say we will pursue legal action...
Read full complaintinternational service fee
I was viewing my online statement today and came across a fee of $2.61 for something called "Intl Service Fee". I thought it stood for "Internal Service Fee" but when I called Wachovia Customer Service I was told it was an "International Service Fee". When I told the gal on the other end of the phone I hadn't been out of the country or bought anything overseas, she told me it's " a fee for doing a transaction out of your home state." I asked where does the international aspect of this fee come in? It turns out that a fee is attached to some transactions, in this case I had purchased a "cashiers check" for $6800 while on business out of my home state..
of course, I paid $6 or $7 for the cashier's check while at the bank.
As I travel for business across 15 states, this is totally unsatisfactory.
I asked her to rescind the lousy $2.61 but was told it can't be done so I am writing to Wachovia to express my heartfelt words of disgust at this "penny ante" way of doing business, not forgetting to mention that the $0.04 worth of interest I get on my savings each month will win me over, either..
I pulled most of my savings out a few years ago..looks like I need to complete the transaction.
The complaint has been investigated and resolved to the customer’s satisfaction.
Is there anyone on planet earth who can and will give an understandable explanation of just what the heck these "internet international service fees" are all about? Ive got three accounts at Wachovia, Ive been victimized by the internet "Tooth whitening Scam", and I have filed three clains with Wachovia concerning
outright frauds perpetrated against me by companies located in Colorado, Iowa, and Florida who all use "shell"
companies outside the us thus invisible to law enforcement (or is that enfarcement?) and selling to themselves, In the last week I have resorted to using insults and sexist remarks ("Oh your just a woman, can I talk to
someone with half a brain, yuno a man?) please ladies i think only good thoughts about you, in fact I helped my recently deceased mom fund and set up three scholarsips for undergrad females in biology botany a forrest
services at UW. My digs are intended to uncover via the slip of a very angry tongue why Wachovia supports
the ilk of Jesse David Willms as being "merchants". I think the answer to this whole unholy alliance will be
found one day, hopefully soon andthat it will constitute one of if not the LARGEST CASES OF FRAUD EVER
in the USA. QUESTION; are the biggest US banks actively covering up for enormus thefts, just as long as they
get "their" three percent. This is ABSOLUTELY MIND BOGGLING AND SCARY.
I have had an Account with Wachovia for 14 years, This is the first instance of receiving, that I have seen, of being charged an international service fee. I have not purchase anything out of country and will be damned if I
am going to start getting charged for purchasing from outside my home state!
We bailed these banks out in 2008, and now we are getting financially robbed due to theri negligence.
I, too, had been charged an "intl svc fee" for something I bought within the US (possibly the parent company is outside the US - but who knew?). After a couple of email exchanges and finally demanding that this fee be removed from my account, Wachovia did remove the fee. After all, I could've and still may close down that Wachovia bank account and move my monies somewhere else...and maybe get a credit card thru Capitol One - they don't pass down that fee to their customers.
Just imagine how many companies there are in the world with branches in many countries. Imagine also that when you go to a website to buy something, it may be unclear or hidden that you are actually dealing with a company that has it's base in some foreign or "other than America" location. As a result, we may be paying much monies in International Service Fees to credit card companies like VISA. $1 or $2 may not seem like much, but multiply that by many purchases by many people in many US states. Make me want to resort back to making purchases locally and paying by check or cash.
rude/unprofessional management
My name is Mary Hamilton and i am writing in with a complaint that I have with your collection department. On 7-23-09 I called in to make a payment arrangement, first I spoke with Jenny who got very loud and unprofessional and asked questions that I thought were very inappropriate and when I brought it to her attention she put me on hold for some time and finally when someone else came to the phone I was treated with the same tactlessness as the first agent, and when I asked her name she said Terry would you like me to spell it for you, sarcastically of course. I feel that as representatives of your company these two(2) ladies lack the training and skills it takes to aide your customers. Infact they shouldnt represent any company with their lack of professional ethics. I am requesting that you review the tape recorded conversations that started at 8:26pm and ended 10:02pm between your agents (Jenny/Terry) and myself then be the judge as to whether these two(2) individuals are suitable to represent your company. I think not, but this is your call. In order to keep your standards where they belong better screenings should be done when it comes down to hirings people and make sure that the people you hire need a job because clearly these two dont.
Sincerely, Mary Hamilton
The complaint has been investigated and resolved to the customer’s satisfaction.
I have a story to tell regarding my own situation!.I borrowed from wells fargo financial $3000 Canadian to buy a cheap car as I was getting divorced.once I got my money I bought the car I felt I could afford after my divorce.I maintained payments for a while till one day I was told I had to pay child support of $1500 Canadian for two kids.I take home pay after taxes and no child support of $3160.Minus $1500 I was left with $830 bi weekly to live on .Now, out of that net pay I had to pay for my car payments of $357 bi weekly and my fuel was $300 a month.Plus insurance was $144 a month.I was left with $400 to live on for the month.Now wells fargo left Canada and I told them my situation>They immediately hired a lawyer to collect on their behalf as they pulled all their offices out of Canada.this lawyer charged me $21, 000 to collect $3000 therefore putting me into arrears and paying a garnish off my wages of $1000 a month>I ask how can a lawyer charge so much for little collections and people I know of owe 10 times more with less harassment to collect?>
I too was a recipient of rude and volgar comments by two Wells Fargo employees. The gentlemans ( and I use that term lightly) name was Jake. After making several rude remarks and lies about my account I hung up on him. He stated he had called for two weeks straight and never got me. He also stated that by law he could not leave a message. Terms of an agreement were made and accepted and then he called back and stated that they were not accepted. The problem is that Jake is from the collectons side and really has nothing to do with the agreements made. I truly beleive that Wells Fargo will be the next to go down if they don't reevaluate their employees. I understand that they need to collect monies from late accounts, but there a more approiate ways to handle people. Someday Jake ( if not already) will be on the other side of the phone line, perhaps it will be me he will have to explain his actions to.
A very dissatified customer in North Carolina.
I will hav e to agree with this lady wells fargo should not even be in business. rude people is what you get all the time maybe sonn they will have to shut down like Beneficial Mortgage. my theory is cant handle the heat then get the hell uot of the kitchen wells fargo SUCKS BIG TIME.
Go Mary!
loan modification solution
After months of ridiculous customer service, we contacted the office of the PRESIDENT of ASC/WF. I was AMAZED that the very first call was a success. As frustrating as my calls to the regular 800 number had been, the one call to this office was incredible. Yes, we have had to follow their guidelines (like making 3 payments in a row which were about $200.00 less than our regular payments) and we just received our final modification papers. Our loan is now at 5% and our payment is almost $300.00 less for the next five years. No paying extra, no hassle. Please don't give up! Their contact info is [protected].
Maxie929,
First of all, I am so sorry you are having to deal with this. It is hard enough to have these financial problems without having to put up with unnecessary hurdles. Hopefully, I can help.
I don't think your state that you live in has much to do with it. It is basically finding the right person to speak with. Avoid any customer service reps or loss mitigation reps! For whatever reason, you will get absolutely no where! This rule applies to ANY mortgage company, not just ASC/ Wells Fargo.
In our case, we got a loan modification. We showed financial hardship when we filled out their financial worksheet and they lowered our payment approximately $300.00 per month and showed us as current. We don't get our taxes and insurance escrowed and our new payment is just principal and interest at a lower interest rate. We paid our new lower payment for three months and then our loan modification started which lowered our payment and interest rate for five years and then they both will return to normal (unless we refinance). They didn't forgive anything but added it to the loan (sort of like a refinance).
We started this mess in October of 2008 when we started getting behind (going towards foreclosure) and kept getting the same request for a financial worksheet from ASC. After submitting it TEN times and getting no where with CSRs and even the loss mitigation department, I finally found the number for the office of the president of ASC/ Wells Fargo. I believe I got resolution within a week or so after dealing with the others for months and months. We had been lied to, mislead, and just plain disrespected unnecessarily. We jumped through every single hoop requested and then when I would call to check, it was as if we never did anything.
Whether it is ASC/ Wells Fargo or any other company, keep going up the ladder until someone helps you. You HAVE to keep at it, even if it means months, because it will work out. We just had a new problem with the modification (they added on late fees and shouldn't) and I called the loss mitigation department and got no where again. I call the Office of the President and again got help. If your paperwork from your modification has anything questionable in it, call the Office of the President immediately. Don't let them wear you down because you can do this. The number for ASC/Wells Fargo Office of the President is [protected]. Anyone who answers is an Executive Specialist, NOT a CSR (they should answer the phone "Office of the President") and can help- ask them if this is the Office of the President when they answer. Their address is: ASC Office of the President P.O. Box 10328, Des Moines, IA [protected]. I suggest you send a Priority Mail letter with delivery and signature confirmation first before you call with all of your information, including that financial worksheet if you have it and any late notices or paperwork that you have from and to ASC. If you don't have anything yet, just send a letter explaining what you need (make sure to include your loan number). These people are very professional and you won't be disappointed. I have worked with several of them.
Please update me when you hear from them. I would love to hear what happens. It will work out if you make sure you work with the right people and work quickly. Good luck and God Bless.
The complaint has been investigated and resolved to the customer’s satisfaction.
Has anyone spoken to Londa Gomble at Wells Fargo/ American Servicing Center? I spoke to her once and she seemed very helpful and promised good things...have been unable to reach her since and Wells Fardo states that she doesn't exist. I KNOW that I spoke to someone that said she was Ms. Gomble. Has anyone else poken to her?
Wells Fargo off ice of the President is just as bad as any office of Wells Fargo they all LIE, I have been involved in this for over 2 years and went to there home presevation work shop in person with every peice of paperwork I needed and I knew this because of the times I applied before and the scanned everything in there computer and said they would have no problem getting the mod done in 3 weeks here I am again 7 months later turned down again! Office of the president does not do anything except make false promises to you, they are scammers to! I have a attorney now and its still unreal! No one at this bank knows what the other one is doing, they dont have a clue, this banks STINKS!
This company is a joke! I've been faithfully trying to get a loan modification through Wells Fargo/HAMP program since April. Due to an injury at work that has left me disabled and awaiting a second surgery, I have been unable to go back to work in over a year. My only income is disability and barely covers my mortgage payment and leaves nothing left to pay my other monthly expenses (electric/water/heat). I contacted Wells Fargo when my mortgage was 2 months behind and explained the situation. I was told that I would qualify for a loan modification and I needed to apply for the HAMP program. Thus started this vicious roller coaster ride that this company has put me through. I have sent in all paperwork that they have requested. I've called to make sure the information was received. Was told that my file was 'under review' and to wait for their decision. I call over and over again to check the status and I'm told the same response "it's under review". When I finally get notification it's to be told that I've been denied and I have to sell my home back to them. I call again and was told to resubmit all the paperwork again. Which I do, and go through the same process as before. I've done this 4 times already. Each time they tell me that since I didn't get approved for the program, there are others that I can get. This has been going on for 6 months with no resolution. They have threatened foreclosure twice. The most recent is a demand to leave my home by October 28th. I have put a lot of time, love, and money into this home and don't want to lose it. I've tried making payments but have been told that they won't take partial payments. This has forced me to sell things to make a couple of full payments but these payments are never applied to the principle. One payment is even 'on hold'. I see this company as a fraud. They tell you that you will qualify for programs under Obama's new programs and get a new loan modification to help home owners in this terrible economy, but they are lying. I'm appealing to everyone. First of all, refuse to deal with this company if you are able to. They are pro's at fooling you into thinking they will help. Also, if there is anyone that can help me in this situation, please contact me. You can call or send an email to conureking@aol.com. I don't want to lose my home and it's become clear that I will get no help from Wells Fargo. Thank you.
I so disagree i have been working or thought i was with the office of the president to get a modification im in ca . there was actual fraud on my loan noone at wells fargo confronted it of course or tried to resolve i spoke with anna dawson first and since i e mailed and faxed and overnighted packages to all goverment officials, DA office filed complaint, OCC complaint, ATTORNEY GENERAL, ETC. then my file went to stephanie day my sale date is july 27, 2010 the executives knew that. i asked them if they would postpone due to the fraud investigations they said no . stephanie day contacted us the day before the sale and said that FREDDIE MAC said that we had excessive forebearance. We found out what that was they never told us anything about that ever how conveniant the day before the sale.WE called HAMP they said they never mentioned that we didnt qualify for the HAMP program they immediately sent an email to FREDDIE MAC ABOUT THE SITUATION we are still waiting to here from FREDDIE MAC . We feel Wells Fargo is just wanting to sell our house . We also had a house fire in may of 2009 our home was 99.9% loss our insurance rebuilt it we have been back for for 5 months and Wells fargo knows that too. Know they want to sell our home to avoid the FRAUD and by the way WELLS FARGO BEN WINDUST said that our HAMP application was denied because it was an investor loan well our investor is FREDDIE MAC WHO WE ALL GAVE BAILOUT MONEY TO. THEY TOLD US THIS IN A LETTER DATED [protected] how odd HAMP never told us that either then were told by stephanie day that we have EXCESSIVE FORBEARANCE THE DAY BEFORE THE SALE WHAT ABOUT IN HOUSE LENDING .By the way my neighbor got a modification by BOFA and we owe the same amount i saw the HAMP PACKET its WELLS FARGO who doesnt care and wants our home at no cost they dont care if we have five children and an elderly 74 year old man with nowhere to go . All we wanted was a HOME LOAN MODIFICATION . WE have been struggling with them for 2years turning everything in on time all they do is give excuses. WE WILL BE AT THE AUCTION TOMORROW UNLESS FREDDIE MAC POSTPONES . WELLS FARGOS OFFICE OF THE PRESIDENT DID NOTHING FOR US ANNA DAWSON, STEPHANIE DAY . we will also be passing out flyers at the auction about the FRAUD so that whoever bids will be notified per attorneys instructions. DONT BELIEVE EXECUTIVES WE THOUGHT THEY WOULD HELP AND KNOW LOOK THEY ARE GOING TO SELL OUR HOUSE AND TOLD US AN EXCUSE THE DAY BEFORE WHEN THEY KNOW ITS OUT OF OUR HANDS. GOD BLESS YOU ALL
I want to thank SherylA. She really helped me out. After reading her complaint and taking the number to the President's office down, I called and sure enough I got progress just like that. Mr. Ronald Lawrence was just a gentleman and gave me all the information I needed and promised me someone would be intouch with me within 24 hours. I believe him. 7-12-10 Waiting for the call.
Thanks Sheryl - VJMcD
Absolutely! I have been through 18 Months of Wells Fargo's
Crap, Like somone in the last post said " after 10 times of sending them what they requested " " It was like I did Nothing at all "...then I finally called the office of the President..For Your Information: They have 2 hours / 120 Minutes to respond to The Office of the President For any Complaints against them...
I was given a Direct return phone # & Mike said he is overnighting me a New Package..We'll See ~` This finally sounds promising..I keep every one posted as to the results..
I am also going to consult an attorney as to Wells Fargo Not Complying within the Federal Guidlines, Because I Knew I was Not the Only One...The problem is they're always changing Federal Guidelines ! ~~~ Democracy at it's Finest ~~~~
What state do you live in that it was so easy to get your loan modifications? Where you going into foreclosure? Who was you dealing with in office of the PRESIDENT of ASC/WF?
Where you on a "trial payment plan" or "forbearance agreement" or were you approved for a "Loan Modification". How many days, months, years did it take you?
Or did you have to make 3 payments in a row wait to see if your finance change and then resubmit your paperwork to get the "Loan Modification? What adjustment in your financial hardship did you have to readjust to get a loan mod.
Do your new payments reflect taxes, escrow, principal, interest? Did they forgive anything?
What was the name of the person you dealt with or was it several different CSR. I notice the number you gave is a 1-866 number which puts you through a ASC service reps not directly to the office of the President.
Please let me know and I'm sure everyone on this site would like to know too! I've read board after boards, met people that's dealing with ASC and not one is happy because they are not getting a loan modification. So please be so kind to share the information. If it can't help me maybe someone else.
Thank you
lending practices
Wells Fargo has been "stalling me into default" since I requested a loan modification after I lost my job in October. I have worked with two third-party HUD approved agencies in attempting to obtain recourse but to no avail. Either this bank is extremely disorganized or they just pretend to be--either way, I have had to constantly resubmit documentation and one department doesn't seem to know what the other department is doing.
Consequently, my credit rating has gone to hell and I am about to lose a ranch that has been in my family since 1856! I even elicited the assistance of the local television news station to broadcast my concerns but it didn't seem to phase Wells Fargo at all.
I have learned I am not the only individual they have done this to--surely someone must want to initiate a class action?
The complaint has been investigated and resolved to the customer’s satisfaction.
My Family and I are trying to go through a loan modification with Wells Fargo as well. We have been diligently trying for the past 6 months to do this because my mother lost her job and is going through a lot of medical problems. We had given them everything they had asked for, but some how either lost it in the system, or ended missing something else. Due the constant stalling, we are now facing forclosure on our only home and we can't seem to find a way to get answers. We talked to supervisors and they even provided a lawyer for us to talk to, which didn't help because they still managed to misinform us. They are absolutely disorganized, and because of it many people have to suffer. I am absolute in agreement with having a class action law suit against them. It really isn't fair.
My husband and I refianced with Wells Fargo 2 years ago and were charged a $16, 000 fee. We did not read the fine print. We have hired an attorney to try and use their home modification program to no avail. Even the attorney gave up. They would not answer any phone calls. The told us" If you can't handle it, give the keys back".
I tried to do an FHA refinance with them recently and decided to go with Bank of America instead. After three months of waiting around, they had a title company contact me and tell me that they original title on my tailer needed to be destroyed before they could refinance the home. I was told by Wells Fargo that they did not have this title, they even tried to tell me that I should have it. After several phone calls, many trips to the Title Department, a 24 dollar check, and a lot of hair pulling, I got the situation handled but the point of it is, the entire thing should have been taken care of by Wells Fargo back when they closed the deal the first time around. They are completely unorganized, there is no communication between departments, apparently no one knows how to do their job. I won't be dealing with them again.
unable to meet closing date
My husband and I decided to finance our new home with wells fargo because we had a positive experience with a refinance in the past. Big mistake!
We were set to close on our new home on july 15th with an out of state move to washington. We have an awesome real estate agent that helped keep the loan on track. Both the agent and I confirmed with wells fargo a week before closing that everything was on track, which they stated it was. We provided all documents quickly and should have had no problems making the closing date.
The closing date came and went and we could not get an answer as to why. Suddenly, nobody in the wells fargo branch could answer their phone or emails. Between my husband, agent and I we left over 50 messages that were never returned. We had no clue what was happening for over 48 hours (Past the closing date). We later found out they dropped the ball after verifying employment and our loan sat in limbo for 3 days. We have still not closed on the house because we needed documents overnighted on a friday which were actually sent on monday.
My new job is in jeopardy because I spent too much time my first week on the phone trying to get an update from wf. Additionally, I am in a hotel with my 2 children and have to board my dogs for each day the closing has been delayed costing me hundreds of dollars. The worst part is that nobody at wells fargo will even answer or return my calls. Not the agent, his boss, her boss or anyone at wf. We have been professional but they still refuse to communicate with their customer. Not one person there cares that they have a homeless family due to their negligence. We are very worried the seller is going to pull the plug on the contract tomorrow.
Advice to anyone looking to get a loan and close when expected, do not go with wells fargo.
The complaint has been investigated and resolved to the customer’s satisfaction.
I know in the time of the Coronavirus things are different, but I was to close on my house 3/31/2020 from a pre approved buyer. It was moved up to 3/24/2020. they even wanted to move it up another week because they said they had everything in order. well the 24th came and went they told me because of the virus they had to check the buyers job. as of 3/30/2020 they still had the paper work from Wells Fargo they needed. i had to delay the mover twice and if we don't close 3/31/2020 which is today I am taking the house off the market. I was told the the Earnest money the buyer paid will go back to him because Wells Fargo did not supply the paperwork and because he did not get the loan. I don't even want him to lose the money but someone dropped the ball. Meanwhile I have to unpack. I gave a lot of my tools away and I sold my camper for a large lose. I sold my whole home generator, which I have to have living in South Florida. It was a all around mess for the buyer and myself. He paid for all the inspections, which he can't get back. So a guess pre approved doesn't mean they will lose the money if they can't get the loan. it's all a scam
Had a horrible experience assisting our adult child applying for a mortgage or home improvement loan, and we were co-signing. Over 30% down, loan about $55k, total annual income to loan was about 175%, great credit ratings for all of us, we don't have any loans on our house- just trying to help child start the American Dream. They stalled, and stalled, re-asked for tons of paperwork, and then asked again. We have full-time jobs. Denied- really disappointed because had heard great things about Wells Fargo loans. Do not waste your time trying to get a loan through them!
Wells Fargo is a terrible bank. Period. I am currently in the process of buying my first home. I say currently, because they have all ready pushed the closing date out three times. Three times! This mind you after the initial closing date was 45 days after submitting an offer (with WF Priority Buyer Letter pre-approval). As it currently stands, my current lease expires in 10 days, and it has all ready been leased to a new tennant. Our new closing date is in 2 days, and WF won't even guarantee that will happen. They are terribly unorganized. They require me to resend documents multiple times, with no resolution or closure insight. We are on our final extension from the sellers, and if WF doesn't close in 2 days, I will be out of a house, and out of several thousand dollars, and on the streets. Our "loan specialist" (WTF, I'd hate to see the entry level if she is a "specialist), had the nerve to ask me if I wanted to cancel the loan, when I told her this. Wells Fargo is a joke.
This is one bank that should have gone out of business.
Stay away from Wells Fargo!
BUYER BEWARE!
My husband and I have had a baby boy 3 yrs ago who had to have a bone marrow transplant at 2 months old. Needless to say we spent our rainy day egg and have not been able to build up our savings. We are current on all bills including our mortgage. We decided to try and refinance our home to save some money. Wells Fargo locked us in at 4.5% and we are currently at 6.0% back in March. Well it has been 8 months and we just received a letter telling us that we were denied because they couldn't see that we would be saving enough to help us financially. I can't believe this everyone we have showed the letter to has laughed in disbelief and we are currently refinancing with a different company.
****EXECUTIVE COMPLAINT CONTACT NUMBER FOR WELLS FARGO HOME MORTGAGE***
If you have ANY issues with a refinance, please contact [protected]. This is a direct number to their "Executive Resolutions" department which nobody wants you to have...well, now you do.
I was almost in the same situation. Wells agent CCed me, my lawyer, the sellers lawyer on a email if every party was ready to close. On closing day, they didnt show up. Took several hours to contact them. They claimed all of a sudden I couldnt close because some document was needed, even though they arranged the closing date and sent out the email. We ended up closing on a later date, but that lasted about 9 hours because all the numbers such as sale price, rate on the final closing documents were wrong and required multiple approvals up the chain at Wells to change and finalize the document.
renovation 203k mortgage loan
I have gotten Wells Fargo home mortgage renovation loan (FHA 203K) for 320K (240K+80K) in Nov 2009. I was given 3 points higher rate at 7.5% (vs. 4.8%) and it has been a nightmare getting money released or getting refinance to lower rate from Wells Fargo thereafter. Wells Fargo’s and FHA home mortgage renovations 203K policy is a screwed up and expansive that no one should ever consider it. It has been 8 months of nightmares and due to Wells Fargo’s idiotic pathetic bureaucratic policies I can not still get refinance to lower rate. I have been spending tremendous amount of money for Wells Fargo’s charges, FHA consultant, inspectors and higher renovations contract fees. I requested several times for loan re-modification after President Obama’s law and I was told by Wells Fargo that I must be 60-90 days delinquent in payments to be considered for loan re-modification for lower rate. I unfortunately had to be delinquent for 3 months to find out by Wells Fargo again that I had to be now current to be considered for loan re-modification. I paid the delinquent balances after 3 months of bad credit score in dropping more than 40 points in my credit score to be told by Wells Fargo again that now I am current with the payments and I will not qualify for loan re-modification again as was ground zero. This has been nightmare experience with Wells Fargo and I have complained to Pa attorney general and to President Obama but no response or help has been offered. Any help and suggestions will be greatly appreciated. Dinesh Tewari [protected])
Thanks for all your educated people responses with Pro knowledge in mortgages and I agree that I signed an loan which was 3% higher than market rate and I have been forced to pay the interest for unused money still in renovation escrow for 2 yrs and no modification has been offered. The house is currently on foreclosure list with the bank and I guess that is what Wells Fargo has been interested. Good luck to on preying on people with financial compromised situations. May god bless have mercy who can not get any help from lenders? Dinesh (drexelhill@gmail.com, [protected]).
The complaint has been investigated and resolved to the customer’s satisfaction.
I bought a property in Jan 2015 with a Wells Fargo rehab Lian through HUD 184 under the 203k. Terms of condition to be finished in 90 days. It is December and I am still not in home, technically homeless single mother with two children paying mortgage on a house I can't live in. Granite inspection came out and said things were done that were not, said things were not done that were. Worked on a percentage system that didn't reflect work. I asked questions, refused to sign documents indicating incomplete work as complete and it turned into a nightmare fast. Very poor communication from draw center. Sometimes a month lag of reply. Then contractor left job without finishing and slapped a $25k lien on my property. Money not owed, but remaining balance of estimate. Now Wells Fargo won't pay the sub's that did their work, won't release my gifted funds so I can finish this project to obtain certificate of occupany. My daughters and I squat in our house without a kitchen, just a toilet and cold water sink. Absolute nightmare. Now I have to represent myself in court to remove lien. Wells Fargo have provided no help or direction. Their system is set up to not hold accountable the GC for receipts, finishing work. I have so much I could say and explain about this. 11 months into project, completely alone and now having to use my money to pay materials and labor to finish, but paying mortgage on a rehab amount not used . I'm doing my end of deal and WF isn't doing theirs.
I am working with Wells Fargo on a 203K on a investment property. This is not my first parade here; I am competent with the financing process. What a bureaucratic nightmare! I have jumped through every hoop possible regarding financial documentation (our credit score is in the 800’s) and they still keep requesting redundant financial information, most of which I have already provided. Apparently, know one in this process actually reads any of the information provided. Wells Fargo seems to be ignorant regarding tax returns because they keep requesting a Schd A tax form which we don’t use to file!
Add to that the nightmare of working with Granite Construction, Wells Fargo’s bid inspection sub contractor. The inspector that came to the house approved the scope of work and the bid with no additional recommenders. He forwarded that to Granite, who by looking at the photos from the comfort of their desk four states away, now demands I up the bid price (and ultimately the mortgage principle) for items such as brush clearing, paint (the house is completely painted inside and out), demolition of out buildings, etc. Many requested items are already on the original bid…again; don’t they know how to read?
Of course, the 203K FORBIDS the buyer from performing any of the work themselves. So what, I have to pay a contractor prevailing wage to cut bush from outbuildings? What person in their right mind would add that cost to a mortgage and amortize it over 30years? Mind you, all these additional items will greatly enhance the bottom line for both Wells Fargo and Granite Construction. I sense collusion here.
Everybody profits and the buyer is left with a mortgage that is more than they wanted to spend. Note we have been working on this loan for 2 months. The seller is exhausted and will not give another extension. So really, it is too late to go elsewhere. I wonder if Wells plays it this way? By the time they start upping the bid, the buyer is too far into the process to go elsewhere. It also makes me wonder how many people have been forced into properties that are a financial push only to not be able to make the payments. Then the bank forecloses, and sells the property back to Fannie or Freddy at inflated prices, the bank also gets paid by their lender’s insurance rider, not to mention the upfront fees they collected in the thousands of dollars. They profit greatly. I have tried to contact the Feds regarding this, but no one seems to know if the bank/construction sub contractor can arbitrarily demand the seller include aesthetic repairs and superfluous items. I have no intention of leaving the property with berry bushes close to the outbuildings. I don’t live like that and my other rental properties will prove that fact. Unfortunately, this is what happens when corporations collude with the Federal Government. They profit but the little guy pays. Thank you Senator Dodd and Senator Frank! What a mess you created and then retired!
Don't use this program. Seek private finance. It will cost more but you will benefit in the end.
I had a 203K done, unfortunately the house is still unlivable. The contractor didn't finish certain jobs, but I didn't notice until after the fact b/c I don't have easy access to a ladder and didn't notice small things (like unpainted 2nd story window). I'd recommend not using this product unless you 100% trust the person doing the work, and really - how many of us know or have the time to find expert//trustworthy contractors- this is a loosing proposition and poorly poorly regulated industry. Contact me for more details if interest. visvire@yahoo.com
I have to agree on some issues but the person that said wells fargo is the only Bank that does these loans is full of crap. You even said 5/3 does those loans in your latter statement. I would bet you work for a bank and possibly the one we are complaining about. I am dealing with wells fargo myself and I can say it has been a pain from dealing with the loan originator to dealing with the funding dept. on repairs. The tried the same crap with me on the % rate I use to be a finance Manager for a mobile Home Dealer the could not get this over on me plus I do have good credit. The loan officer was very nice but very poor job on follow up. They all will lie to you! The way I see it their is not any much better unless you deal with a Hometown Bank. As before the butthead earlier said not many Banks do a 203K loan and wells fargo is going to get woke up one day they are forgetting who their customers are they put more faith and respect towards inspectors and such than the one paying the Bills. I hope you don't loose your Home good luck!
My husband and I have a 203k with SWells and have no problems with our rep... it is the reno specialists who will not return our calls or emails. This has become a major problem as our contracted reno work is completed, yet, no one will respond to our requests for the final inspections to be completed so our contractors can be issued the final draw amounts. We had the same problem with the initial draws but assumed it was just a glitch because we had such a great rep. Thus being said, the customer service after the closing is AWFUL and I would hesitate to recommend WF to anyone...and I'm in the process of being licensed as an agent. WF loss as far as I'm concerned... don't be fooled by them!
First of all, Wells Fargo pricing policy wouldn't allow you to be charged 3 points higher than the going rate. However, if you get a 203K expect to pay more, they carry more risk and that is how lenders compensate for more risk. Pretty simple.
Did you check with another lender about the refi? I'll bet you got the same response as WF is telling you.
It sounds like you went into the process uneducated, bought over your means or the house dropped in value and now want a handout.
They are many companies that are legitimate and can help homeowners stop foreclosure and keep their homes.
Mortgage Assistance Group is one of those companies that holds an "A" rating with the BBB and has help over 500 homeowners keep their homes.
They give a discount to the homeowners who have been scammed and treat each client with respect and dignity.
You can reach them at [protected] and at www.mag-az.com.
Thanks and good luck,
Randy D.
P.S. If you know someowner they can help, They will pay a $100 referral!
5/3 BANK ONLY REQUIRES A 580 CREDIT SCORE AND THEY DO 203K LOANS! MONDAY SEPT. 21, 2009 THEY ARE CHANGING THEIR MINIMUM SCORE TO A 620. IF APPLIED FOR TODAY, SEPT. 18, 2009 AND YOU HAVE A 580, THEY CAN PROCESS YOUR LOAN!
I'm sure they twisted your arm and made you take the loan... They are the only bank that I know of that will do such a loan...
Yes you have to pay an outside agreed upon third party to inspect the work before they release the funds..
You already knew that before hand also.Yes you have to pay out of pocket for the consultant to inspect the completed work and it's about 200.00 for each inspection/ draw request.
You cant expect the bank to pay for work that has not been completed. You knew the interest rate upfront and now your complaining.
I have the same loan ( 203k ) I was a bit annoyed at the fees and the interest rate I got also.. It is a bit of a wait to get the draw funds wired but what are you going to do?
They are taking a bigger risk with such a loan and if you wanna play you gotta pay... That loan allowed me to by a foreclosure at a great price and gave me 49, 000.00 for the repairs when no one else would..
My rep at Wells Fargo, Jeff Tauman really stepped up to the plate..
I hope things work out for you and stop blaming them because you can't make the payments..
liars and cheats
Help me, please!
Spring of 08, my daughter, son-in-law and 3 yr old granddaughter moved in with my wife and I due to him getting laid off from his job.
While he did odd jobs for cash and helped when he could while looking for a new job, it put my wife and I behind on our bills. Utilities went up, gas for vehicles used went up, groceries went up, etc., etc.
Contacted wells in nov to arrange payment options to get back on track. Didn't hear back from them until dec, when a lawyers office sent me a letter wanting me to let an appraiser into my home to appraise it's value for foreclosure sale. What? I couldn't believe it!
I called the lawyer office and they wouldn't talk to me without authorization from wells. I called wells and they told me to call the lawyer and ask for a "reinstatement amount".in the meantime, I gave them my information for a "loan modification" program. The lawyers office said I need to pay wells $2400 to get reinstated. I did.
I called wells again to verify they had recieved the $2400 and they had. The guy then tells me that my payments would be suspended until the loan modification cleared, and that I wouldn't have to make a payment until may (This was in jan). I still sent in payments.
In may, I authorized my bank to do electronic 'bill pay' to wells, 1/2 my monthly each two weeks. I recieved a letter from wells, my 'modification' letter, that said for me to pay $1900 in may, $972 a month for 6 months afterward! My monthly is only $554.
I called them back and told them I couldn't afford that, could they please put what was owed on the end of the loan and let me continue to make my $554 payments? They told me to resubmit another loan modification form, with all the same information as before, and they'd let me know in a couple of weeks. Didn't hear from them until july. Got a letter in the mail again from a lawyers office wanting me to let an appraisor in again. I called wells again. The lady told me to resubmit my hardship letter and all the other things again. Meanwhile, all the money i've sent in hasn't been applied to my loan, therefore, putting me further and further behind, and racking up more and more late charges and fees. Why won't they work with their customers? Wouldn't if cost them less to help them than to take their home and sell it in this market?
Please help if you know how I can get out of this mess!
After calling, and calling, and calling the executive number, I got in touch with a higher up manager. She put a mod specialist on my casse and got all my issues fixed. I'm now at a lower interest rate and lower payment per month. I've set it up with my bank to do auto drafts so there will be record of each and every payment made to them from now on. I'm currently 2 months ahead on my payments and I inted to keep it that way. Due to the lowered interest rate, I doubt I'll be able to find another loan company to refinance with so I'm stuck with WF for now. As long as I can stay two months ahead, I don't see any reason for any more problems out of them.
I advise anyone with problems with WF to contact the executive numbers listed in the other emails. The lady I dealt with was fantastic and worked to get my problems resolved quickly.
After submitting my original complaint, I contacted the ceo of wells fargo through their email address. I obtained this from www.wfhmcaught.blogspot.com.
They emailed me back with phone numbers to contact them at.
After talking to them, they understood my frustrations and assigned a manager to handle my case. They are currently working with me to rectify my situation. I'll post updates as they come available.
Hey - You are not alone! WF has messed with me, too. I'll spare the details, but I'm up against them in court on Friday. They will NOT get my home! I found this number searching another website. A LOT of people have said that calling it works, you get a "smarter" WF employee who really works out the mods. It's called the "executive line" at [protected]. Give it a shot! Do another post on here and let us know what happened! Also, you may want to check out that website at www.loansafe.org. Fantastic site... to vent or gather phone numbers or get advice! Best of luck against these idiots. Don't give up the fight!
loan modification
This company is so big that they have no clue what they told you yesterday, everyti me you call u get a different person who has no notes or a clue what another person said or had you agree to, this is MY LIFE, MY HOUSE, they are playing games with and my hard earned money i keep handing over and they dont know if they recieved it or not, they lost too many...
Read full complaint and 26 commentsbad service/scammers
Well we financed a 2004 dodge ram back in 2007 with wells fargo and they are the worst bank ever! We have 20% interest rate. They are very rude people. My husband would call them when we were having money problems and try to make arrangements for late payments and the representative would be very rude with him and was actually arguing with my husband at one point telling him that they will take his money and they will mess up his and my credit and asking him for his parents phone number so they can call them to get their money. Then to top it all off they would deduct money from our accout without our authorization more than once and take out more than the agreed monthly payment. Also when we tried to refinance our auto loan to make our monthly payments lower they would always tell us to call them back in 6 months, well we've been doing that for 2 years already and its the same story. They are a terrible company and I cant wait 'til our loan is paid off! I will never do business with them ever again!
The complaint has been investigated and resolved to the customer’s satisfaction.
You have a 20% interest rate and can not be re-financed because your credit sucks. If you don't believe me go to another bank and refinance it thru them. Nobody has said you have to refinance thru the bank with the original loan. They can not make unauthorized debits from your account, you have to have signed something to say they could. Good luck.
out of control fees
My 22 year old daughter recently made an error in her checking account that resulted in a negative balance of $1.32. This started a series of fees that have grown to $475.00 in 10 days. She had no idea she was overdrawn (because again, it was a mistake) and therfore had no reason to check the balance. In the meantime, she continued to use her Debit card daily and was able to withdraw as much as she needed. (Why your debit card isn't refused when you have no funds is a complete mystery, but I'll save that for another complaint.) It wasn't until she got an overdraft statement in the mail - 6 days after the account was overdrawn, that she realized there was a problem. The notice came on a Saturday afternoon so by the time she could get to the bank it was Monday, now 8 days since she had a negative balance. She went to the Bank Monday to first figure out what happened and second figure out how to avoid it from happening in the future. She definitely made the mistake but up until this mistake she had an avg monthly balance of $350.00 and no overdrafts. She's young, she's in school and these fees are more than her paycheck. I truly believed the bank would work with her. I didn't expect everytning to be waived but I did expect them to reduce the amount. She pleaded her case, noted her lack of past mistakes and signed up for on-line banking so she could have access to the account at anytime. (when she originally opened the account she didn't have internet access on a regular basis and therefore didn't sign up for on-line access). Wells Fargo didn't care, doesn't care and just kept repeating it wasn't a banking error and she had ways of checking her balance. $475.00 in 10 days and will continue growing because she currently has a negative balance of over $300.00 and there is a daily overdraft fee on checking and savings. I'm having a hard time understanding why Wells Fargo won't budge. They obviously needs the money and I think if there financial situation is that fragile, everyone with an account there should be a little nervous. Our next step is to close her account immediately. Can't wait to see what they charge her for that.
The complaint has been investigated and resolved to the customer’s satisfaction.
So many excuses about how its the banks fault. Obviously the daughter can't add and subtract, take responsibility, and read disclosures that are in big print... neither can her Mother. All banks charge fees and if you
( the poster) don't like it then put your money in a mayonnaise jar and put it under your bed.
Your daughter overdrafted her account, Wells Fargo is under no obligation to reverse any fees and you will be hard pressed to find a bank that will right now. It will teach her a lesson to check her account. They have plenty of tools to prevent overdraft due to financial irresponsibility, more so than other banks. But keep pressing about the reversal of overdraft fees, call the phone bank or speak to a branch manager, go to a different branch and speak to the manager. They may partially reverse the fees. Close out the account there is no fee to do that, you just have to have a zero balance.
unethical treatment to employees & customers
It’s amazing, when you think that you are the only one getting scammed by your bank, when in reality there are others out there, just like you. As you get curious and start digging up information, you come to realize that many feel the same. I have affiliates that are past employees of WF and have greatly agreed upon the fact that WF is so commercial, that customer service is just a front. They will tell you anything for you to sign on the dotted line, to abide by their uprising hidden costs, rates, and fees. I also have many friends (including myself), that have had bad experiences with this particular bank! From currency exchange problems to overly extensive overdraft fees! All they do is take your hard earned money! And with this crazy economy, this is the last thing that we need! I have started a group through Facebook that is trying to draw in current Wells Fargo customers to close their accounts. We feel that this is the only way these banks will listen to the little guy! August 1st-8th, 2009, we are encouraging all current WF customers to DROP Wells Fargo as their bank! Please feel free to pass this message along! Via Facebook, Myspace, MSN Messanger, AIM Yahoo messanger, cell fone texting, email, etc! Or visit our facebook event page at: http://www.facebook.com/grou p.php?gid=[protected]#/even t.php?eid=[protected]
The complaint has been investigated and resolved to the customer’s satisfaction.
I'm a former Wells Fargo dealer services employee and worked there for 7 years. I did honest work and was one of the top performers. Management discriminates against black people, especially black woman, the last couple years has been more black employees getting fired or resigning because of mistreatment. I resigned due to force, the unfair treatment and Harrassment has caused me to have my baby 3 months early. The HR department had to come investigate the owings mills md office due to African American employees complaining to Hr and to the federal government. The company is evil and I pray justice will be served for all current employees who are afraid to speak up and former employees who were wrongfully terminated and forced to resign!
This is the worst bank ever. I have four accounts with Hells Fargo. They are the most unscrupulous bunch of crooks. I will close all my accounts.
As a former employee for many years, many years I believe wells Fargo stood up to their vision of doing right for the customer. I loved my job always gave me the opportunity to work and tend to my children. I started when customer service was valued not only to the customers but to the employees being treated as individuals. As the recent years wells Fargo turned commercial and as much as they tell their employees do not do anything unethical they mumble the thought in the employees herds that if they don't get all customers walking in to open an acct weather existing or new they will be basically looking for another job. But let me just put it the way they actuall tell the employees...this is a sales job we are here to get are sales done so each one of you need to get 3-4accts a day and if anyone thought this wasn't a sales job then let me just tell you the door is right there. So you have to think who in reality is being treated unfair the customers or the employees. Yes we can leave but in this economy sometimes we are stuck. They are some employees who try to keep themselves honest and do right but sometimes we do have to convince our customers they need to open maybe a second acct. I myself never forced anyone or trick them I gray to give them their benefit in why such as maybe they can use one acct strictly for bills...anyways it's rough working there but at least customers can always say NO but as an employees some do what they need to and the managers are aware of all unethical behaviors but hey at the end of the day those unethical employees are praised by management and by district managers ... So those employees who try not to fall into that are stuck struggling. I did finally resigned because lately it was too much to handle I couldn't do what they expect cuz I'm not like that so it was either me leaving or being fired and well if I was going I wanted to leave with head held high knowing all those years I did do right for my customers.
One thing to be aware u are only allowed one free acct unless u have a PMA. So please don't let any banker convince you to open another acct unless u have any type a fraud issue then I do advise to change acct number. Otherwise it's like the old saying if ain't broke why fix it.
Also the person greeting you when u walk in it's not to welcome you they scope people out for possible sales.
I am a Wachovia customer but my car was financed by Wells Fargo. Last year my social security date changed so informed Wells Fargo of this and asked them not to take any money for the payment it was an automatic draft well they tried to take it out and of course Wachovia had been issued a stop payment on them. Charged 25 and the next month they did the same another 25.00 was added to me. I went in and talked to my bank manager and he called wells fargo and quess what this manager would not discharge the 50.00 and they had already merged together. No help my bank picked up the 50.00 and the following month I had to pay another 25.00 and not only that but they sent a letter to the three cfedit reporting companies telling them I wanted credit I had not applied for any credit but now I am being reported as a bad risk plus some other problems with my credit. They get back at you no matter what you do even trying to give them a heads up on my changed status has cost me plenty plus a bad credit report.
I Googled "Wells Fargo Unethical" and this was one of many hits that came up. The reason I searched the subject this evening is I just entered into a re-finance with them. My credit scores are Excellent; Experian 749, Equifax 729, TransUnion 731... pulled during my call with WF, which I am very proud of. So I'm going over the re-finance scenarios with my Wells Fargo rep. Tim and I press him for a product that is not the offer I just received in the mail, which by the way was a ridiculous offer! (a re-fiancé offer at 6.125% 30-yr fixed.) We go over some of the products he has to offer me. We find one at 5.375 and begin the refinance Q&A. Then Tim pulls my credit score from an agency called RELS, they reports my scores as; Experian 675, Equifax 676, TransUnion 696. Which by order of grade elevates me to "moderate risk" level. I tell Tom there is a serious problem here... the scores shouldn't be that far off. So he says well... I can offer to you the product you received from WF in the mail today at 6.00% due to your less than excellent credit scores. I tell Tim I'm not really interested in that product and want to now discuss the obvious disparity from the report I just pulled and the one he got from RELS. He says in closing "I'll just get this deal in the works for you because it will save you money every month and you don't have to pay anything out-of-pocket, this is really a no lose situation for you, right." I suspect WF rep. Tim is outright lying about the scores he says he got to push me into their "product" in order to prevent me from closing on the better deal that will save me a significant amount more. To be sure, I'm now launching an investigation with both WF and also the three credit bureaus and I will get to the bottom of this probable unethical WF action.
I know they treat there customers like crap, i am currently one and going to get out of there ASAP. As for the employees not sure if i share any sympathy for them if they stay with such a company then they are just as bad, the ones who decide to leave and go elsewhere then my hats off to them for leaving such a disgusting place of service. The employees i have encountered so far have been nothing but rude, except for the day i opened my account they were as sweet as can be. Wellsfargo stinks and i am going to be seeking legal counsel against them. We need to stand up to these banks our money is keeping them in business but yet they treat the consumer like S###.
delay in refinancing
My husband and I completed a Wells Fargo application to refinance on March 29, 2009, paid the application fee and for a home assessment, and have been patiently waiting for over three months for the application to be processed.
My husband called our Wells Fargo home mortgage consultant on numerous occasions to get a status update on our refinancing application. The mortgage consultant indicated that there was a delay in the refinancing of home mortgages at Wells Fargo but was unable to give us the status on our application or a specific date for when our home mortgage refinancing would be completed. He stated that the Wells Fargo division that is responsible for processing our refinancing application was not responding to his calls or emails. This is completely unprofessional business behavior.
It is surprising that our home mortgage refinancing has been delayed, especially since our interest rate is only locked in for 90 days. With the 90-day deadline passed, Wells Fargo has still not initiated any communication regarding the status of our refinancing. This refinancing delay has caused my husband and me much inconvenience since we have missed out on the opportunity for savings on our home mortgage and securing a low interest rate. We have also incurred significant costs with the refinancing application and our status remains uncertain. Had we known that our refinancing would be delayed, we would have chosen a different bank.
The complaint has been investigated and resolved to the customer’s satisfaction.
The exact same thing happened to me with Wells Fargo, except my mortgage consultant doesn't answer my calls or call me back. I feel that he mislead me into a loan product that was not a good fit for me. I ended up contacting an experienced local loan officer who is fixing this mess but unfortunately I wasted time, the Wells Fargo processing fee and a condo association fee totaling $450. Just felt so frustrated, overwhelmed, and helpless. According to Wells Fargo's terms and conditions, the processing fee in non-refundable, but they should give us some money back especially if they are the ones that can't close the deal yet we did our part. What a rip off. I would never recommend Wells Fargo to anyone.
total crap
I deal with b of a, but I got a part time job with a company that does not offer direct deposit and happens to bank with wells fargo. So, I started to go to wells fargo to cash my check, and every time I went in there they pushed very hard for me to open an account with them. This one lady even told me that they would only cash my check if I paid a $5 fee since I did not have an acct with them.
So, one day, I must have been in a good mood or something because this nice young girl offered to open an acct for me in a not so overbaring manner and I decided that I would go ahead and open a checking acct just to be able to take my check card and cash my work check. (I had an acct with wells fargo for a few months about 7 years ago, so I asked the personal banker to make sure that there would be no conflict with the old acct. She supposedly varified my information and said that there was nothing in the system that said I had an acct with them.) so, I deposited about $700 to open the acct. 2 days later on a friday 4th of july weekend, I went to withdraw some money, and they told me that there was a hard hold on the acct because I had 2 accounts with conflicting social security numbers. I was sooooo pissed you don't even know. Nobody could tell me how it was possible to go from no record to 2 records. They made me get a letter from the social security administration to prove my identity to have it faxed to god knows where to get my money out.
I was screwed over the weekend. So, that next monday I had a different banker call the center where my acct was opened, because I wanted to know what happened. It turns out that the stupid girl put in my social security # in wrong which raised a red flag. I'm still waiting for the hold to be lifted. Do not bank with wells fargo.
The complaint has been investigated and resolved to the customer’s satisfaction.
Wellsfargo is indeed horrible. On one day i was charged 10 over draft fees come to find out after doing a little research that they changed their policy where they will only charge you no more than 4 fees in a day but yet i got charged 10 and was only refunded 5 out of the goodness of their nasty dirty hearts, this is after writing a letter of complaint to there head branch.
possible fraud
I applied for a refinance back in February. It is now July and the following occurred when I called them today:
1) The first loan professional "Dan" said we did not qualify for a refinance under the government program because we have PMI on our mortgage. He then transferred me to another company, Americas Servicing Group which has nothing to do with Wells Fargo.
2) I then called back, reached a different department and "Liz" stated our application is still under review and a decision has not been made. I questioned her on what "Dan" said and she stated this was not accurate.
3) I then asked for a manager and was delayed many times avoiding this transfer. When I finally got persistent, she transferred me. After 40 more minutes, I finally got put into someone's voice mail!
Horrible customer service and questionable ethics here at this company. I will start writing the letters to the necessary agencies reporting my findings and possibly hiring a good attorney.
AVOID THIS COMPANY AT ALL COSTS!
The complaint has been investigated and resolved to the customer’s satisfaction.
I work for Citi mortgage and their is different answeres for different circumstances if they operate the way we do you might recieve a letter stating you are not qualfied but here is a consultant who can help you manage your bills, or you wont recieve any confirmnation at all because they have to sendo ut to many letters stating that to different people.
refinance
We recently attempted to Refinance our mortgage. We were told it would be a long process and we were ok with that. At our first meeting, we were told we were preapproved, we provided them with every single piece of documentation they asked for, we were locked into a rate, and then we waited and waited. I emailed and phone them for over 6 weeks, contantly being told that they haven't gotten any information and that they were backed up with loans. I finally called to tell them that I needed an answer and I was told nonchalantly that our loan had been denied! DENIED! After 3 months and my constant calling, I am nonchalanly told that we were denied because of bankruptcy that we were told would be NO problem. The service was horrible and I am appalled that I spent all this time thinking we were approved, only to be told we were not AFTER 3 MONTHS!
The complaint has been investigated and resolved to the customer’s satisfaction.
My name is Lloyd Jemtrud my account # [protected] . I have called three times to talk to someone and i gave my cell phone # and nobody has called me cocerning the matter. What kind of buisness do you run.
The very exact thing happened to my husband and I. We were going to refinance our home to get a pool; we were told numerous times that we were DEFINITELY APPROVED. They even wanted to give me a check for $8, 000.00 by using my car as a collateral at a 22% interest (my car is paid off!) then they said I can pay off the $8k after I get the $ from the preapproved loan. Thank goodness my husband and I didn't go through with it. We waited for 3 months also. Every time we called they said they didn't know anything yet. Their excuse was that our loan was submitted and they can not talk to their own underwriters. That should of been a tip off that there was something that was not right. They were so positive that we were going to get this loan; also, they said our fees were only going to be around 7k - at end they were going to be 12k!
Be aware of everything they say and that you sign. What they say in the beginning IS NOT WHAT IT ACTUALLY IS AT THE END!
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