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Wells Fargo Home Mortgageunable to meet closing date

S Review updated:

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.

Responses

  • Jo
    Joseph Marion Mar 31, 2020
    This comment was posted by
    a verified customer
    Verified customer

    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

    0 Votes
  • Hd
    HDM Aug 16, 2013

    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!

    0 Votes
  • Lu
    Luckystrixxe1977 Mar 02, 2010

    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!

    1 Votes
  • Me
    mele1 Nov 25, 2009

    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.

    1 Votes
  • Wf
    WFHMemployee Oct 10, 2009

    ****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.

    1 Votes
  • Ue
    uenojuri Jul 25, 2009

    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.

    2 Votes

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