BAIT AND SWITCH!
With interest rates hitting all time lows below 3.5% for 30 year fixed mortgages, my wife and I decided to refinance our property in Southern California. Based on our credit rating and more than adequate equity, Wells Fargo locked in our rate without any contingencies. Weeks of torment followed with ridiculous petty requests for the same documentation that showed total lack of coordination between their Mortgage Consultant and Mortgage Processor. This is the second mortgage that we had with this company, only because they bought the loan from another bank. Our payment is paid automatically out of our checking account and we were always on time! Apparently, that kind of loyalty is ignored and they approved our loan only if we accepted an interest rate above 4%, plus closing costs. We have an existing loan at that rate now! Their greedy CEO, John Stumpf, should be satisfied with his $19,300,000 annual compensation package without squeezing extra profits out of the middle class.
I fell behind on my mortgage loan in December of 2015 loss of income due to medical reason. In June I contact Wells fargo and inform them that my appeal hearing with social security disability was scheduled for Aug 16th and I was told the only thing they can do was to let me speak with home preservation specialist I agree and paperwork was mailed I was deny loan modification because no income for me and low income for my 86yr old mother. I mailed payment for $3900.00 and check was mailed back with a letter stating insufficient amount. I then receive from Wells Fargo on August 1st a reinstatement offer for $9700 + to be paid before September 4th.
On September 9th I call wells fargo to let them know I was mailing check for $12,000.00 and which address to mail payment because of due date and was told because date expired the check would be return I ask to speak with manager to see if they could make any exception. I was transfer to home reservation manager who told me no offer was mail and the loan at in Foreclosure statue I offer to fax letter, then the letter magically appear in the system with offer end of August 31st again I asked to fax my version of their letter I was then placed on hold. After an hour and half of speaking with different specialist and getting different informations. I was transferred to foreclosure specialist but to no avail, I heard to same thing over again finally she said she's sending an email to the manager, to asked if they can make any exceptions. I receive a call from Erica in the complaint department, I was told that she would review my case and get back to me by September 23rd. However to I receive two letter a payoff statement for $199,000. and another reinstatement quote of $18,000.00 due by 10/10/16 I immediately call wells fargo and was told I request a pay off statement. I had two heart, pulmonary embolism and recently had a stroke in March, my chest was throbbing and I felt like I was spinning, I'm in a nightmare and I can not wake up. "[redacted]" I now have a new specialist because Dennis moved to a different department. I won my appeal with social security but in order to do another loan modification a need a award letter, which I did not received. They refused letter from my disability lawyer and I'm now at a cross road. Wells fargo correspondent states call if you need help contact the company but when you do all you get is run around and people with monotone saying your reinstate amount is your in foreclosure and there's nothing we can do. They rather refuse payments and forecloses property and take equity than working with customer. Shame on wells fargo , worst company ever. I do not have funds for lawyer and I hope Revdex.com can help me. Thanks in advance
I rarely write reviews, but I am writing because I WANT TO DO EVERYTHING I CAN SO THAT ANOTHER PERSON DOESN'T HAVE TO SUFFER WHAT I HAVE BEEN THROUGH with WF mortgage.
The loan officer was very hard to reach, rarely reply email. Everytime you call, it goes straight to the mailbox, response rate is 50-50, so you are really taking your chance.
The appraisal fee just changed randomly with about $150 increase. We had to send 3 emails before he gave us an answer. WF claim that it doesn't have a choice for appraiser.
We have submitted all documents on time, actually 20 days prior to closing. Ten days prior to closing, the loan officer, cody [redacted] email us and say the home insurance is still not purchased and we need to send him proof asap or else it may affect our closing date. When in fact, it was sent to WF almost 2 weeks prior.
When calling the loan officer about locking down the rate (within 30 days to closing date), he was looking at a rate for 60 days, which is higher. When asked to verify, he inisisted that was the correct information. When we told him the rate is higher than what WF mortgage website show, he then tell us the correct rate for locking for 30 days.
When the closing department sent us the closing disclosure and we returned 3 days prior to closing date, we thought everything is in order for us to close on time. However, we were wrong. Our title company didn't receive any closing documents from WF. Title company, my husband and I all called and emailed the closing department, with no response. We then received an email from Cody, the loan officer, saying employment verification need to be completed, saying he called on Friday at 5:30pm but no HR personnel answered. This part does not make any sense as the employment verification has been completed and confirmed by the closing department.
I can forgive the snail speed response and the mistake about the rate. However, it is unacceptable to be clueless and create all the unnecessary trouble. Missing closing documents lending settlement not completing on time.
We were considering refinancing our other house after this current one is settle, and now I know which bank I will stay away forever. So, please, I warn you to stay away from Wells Fargo.
I am very upset with Wells Fargo at the lack of compassion and even genuine concern. It took 4 days to take money out of my checking account and I had started paying other bills based on the amount in account. They have never waited 4 days before. On top of that, they attempted 3 times which resulted in $90 in fees due to lack of money in the account. No one called me to ask what happened with the payment...they just kept trying. Well I am very angry at this practice. That is $90 of my hard earned money. I currently do not work due to health issues and up until recently have maintained my payments with WF. Once I confronted WF about it, they supposedly reviewed my account twice....each time telling me that they would not refund my money. Well this is not good enough. I have sold things to stay afloat and I count on honesty and integrity. I do not feel WF has these qualities. I wish that my account was with another mortgage company.
With a stellar 5-year history of payments on an existing mortgage, an attempt to refinance the existing loan resulted in utter failure. What started out positive, ended miserably. For over a period of 3.5 months, WFHM consistently requested documents upon documents without narrowing the process to a close. The moment of hesitation to submit documents as a client and customer, the process ceased. In fact, the manager handling the matter was not very cooperative or supportive of moving the process forward. Personally, I think the commitment to move the process forward from the beginning was lack-luster at best. WFHM has a less than favorable history of support in lending practices to people of color, now I see why.
Like the other reviews, mine reflects a negative experience with a dishonest and incompetent organization.
I wasted close to an hour on the phone with a poorly-trained customer service rep. Despite my asking repeatedly about service fees, I was put through a lengthy meandering application process. I wasn't told about an annual $75 fee until 50 minutes into the call, at which point I hung up.
When I filed a complaint on the Wells Fargo (WF) website about this, I was told the matter had been handled "appropriately". In other words, WF condones being duplicitious in the pathetic hope that I'd just accept their fees due to having invested my time already.
Anytime your inept service rep wastes an hour of a customer's time, you failed. If you want to mask such ineptness, you failed again, even bigger.
We have just closed with the Wells Fargo Mortgage experience, so I thought a review might be helpful for others. It was frustrating to say the least.
The thirty day closing date was not honored by Wells - a processor was sick for a week and no one else was able to process the loan. Various other reasons for other extensions followed. Ultimately we needed to receive four extensions - almost three months - we had to pay the seller's mortgage in following months to keep the party on board.
By the time we got close to our extension expiring after 2.5 months, Wells third party vendors required further documentation, but would not submit it in time for the verifying party to submit it before expiration, in spite of 12 email and various telephone reminders on the eve of the expiration day.
After 2.5 months we were informed that our interest lock expired and would cost us another $178.00. I argued that it was Wells Fargo responsibility without success.
Their loan tracker online process is confusing too say the least: New document requests kept appearing, although the loan officer informed us that all required documentation was complete. Apparently they have difficulty communicating between various levels, processors, third party vendors. They have chosen to work with those parties - Wells should fix that process, because it is confusing to receive conflicting information.
I am done with Wells Fargo Mortgage for future business.
I have Wells Fargo for my home mortgage and have no problem on paying them my monthly mortgage till I refinance last month with the VA. What I don't understand is why Wells Fargo is not being at all cooperative in giving out information payoff amount to my VA Rep? I thought they will all be very helpful with consumers who are trying to pay off their mortgage? But to the contrary, I have more problems from them just getting them to give out the payoff amount. You would think they will be the first one to help so the process can go through without a hitch. I've been in and out of Wells Fargo Bank just to make them release this information we need so we could proceed with everything else. But so far, nothing!!! Wells Fargo is a joke if you ask me!!! Don't think I will bank with them even if they are the last bank on earth. Might as well keep my money under my pillow. Don't you think that Wells Fargo should be more consumer friendly and hands on??? Maybe they need restructure or retraining in every aspect of their business???
BAIT AND SWITCH!
With interest rates hitting all time lows below 3.5% for 30 year fixed mortgages, my wife and I decided to refinance our property in Southern California. Based on our credit rating and more than adequate equity, Wells Fargo locked in our rate without any contingencies. Weeks of torment followed with ridiculous petty requests for the same documentation that showed total lack of coordination between their Mortgage Consultant and Mortgage Processor. This is the second mortgage that we had with this company, only because they bought the loan from another bank. Our payment is paid automatically out of our checking account and we were always on time! Apparently, that kind of loyalty is ignored and they approved our loan only if we accepted an interest rate above 4%, plus closing costs. We have an existing loan at that rate now! Their greedy CEO, John Stumpf, should be satisfied with his $19,300,000 annual compensation package without squeezing extra profits out of the middle class.
We rejected their loan.
I fell behind on my mortgage loan in December of 2015 loss of income due to medical reason. In June I contact Wells fargo and inform them that my appeal hearing with social security disability was scheduled for Aug 16th and I was told the only thing they can do was to let me speak with home preservation specialist I agree and paperwork was mailed I was deny loan modification because no income for me and low income for my 86yr old mother. I mailed payment for $3900.00 and check was mailed back with a letter stating insufficient amount. I then receive from Wells Fargo on August 1st a reinstatement offer for $9700 + to be paid before September 4th.
On September 9th I call wells fargo to let them know I was mailing check for $12,000.00 and which address to mail payment because of due date and was told because date expired the check would be return I ask to speak with manager to see if they could make any exception. I was transfer to home reservation manager who told me no offer was mail and the loan at in Foreclosure statue I offer to fax letter, then the letter magically appear in the system with offer end of August 31st again I asked to fax my version of their letter I was then placed on hold. After an hour and half of speaking with different specialist and getting different informations. I was transferred to foreclosure specialist but to no avail, I heard to same thing over again finally she said she's sending an email to the manager, to asked if they can make any exceptions. I receive a call from Erica in the complaint department, I was told that she would review my case and get back to me by September 23rd. However to I receive two letter a payoff statement for $199,000. and another reinstatement quote of $18,000.00 due by 10/10/16 I immediately call wells fargo and was told I request a pay off statement. I had two heart, pulmonary embolism and recently had a stroke in March, my chest was throbbing and I felt like I was spinning, I'm in a nightmare and I can not wake up. "[redacted]" I now have a new specialist because Dennis moved to a different department. I won my appeal with social security but in order to do another loan modification a need a award letter, which I did not received. They refused letter from my disability lawyer and I'm now at a cross road. Wells fargo correspondent states call if you need help contact the company but when you do all you get is run around and people with monotone saying your reinstate amount is your in foreclosure and there's nothing we can do. They rather refuse payments and forecloses property and take equity than working with customer. Shame on wells fargo , worst company ever. I do not have funds for lawyer and I hope Revdex.com can help me. Thanks in advance
I rarely write reviews, but I am writing because I WANT TO DO EVERYTHING I CAN SO THAT ANOTHER PERSON DOESN'T HAVE TO SUFFER WHAT I HAVE BEEN THROUGH with WF mortgage.
The loan officer was very hard to reach, rarely reply email. Everytime you call, it goes straight to the mailbox, response rate is 50-50, so you are really taking your chance.
The appraisal fee just changed randomly with about $150 increase. We had to send 3 emails before he gave us an answer. WF claim that it doesn't have a choice for appraiser.
We have submitted all documents on time, actually 20 days prior to closing. Ten days prior to closing, the loan officer, cody [redacted] email us and say the home insurance is still not purchased and we need to send him proof asap or else it may affect our closing date. When in fact, it was sent to WF almost 2 weeks prior.
When calling the loan officer about locking down the rate (within 30 days to closing date), he was looking at a rate for 60 days, which is higher. When asked to verify, he inisisted that was the correct information. When we told him the rate is higher than what WF mortgage website show, he then tell us the correct rate for locking for 30 days.
When the closing department sent us the closing disclosure and we returned 3 days prior to closing date, we thought everything is in order for us to close on time. However, we were wrong. Our title company didn't receive any closing documents from WF. Title company, my husband and I all called and emailed the closing department, with no response. We then received an email from Cody, the loan officer, saying employment verification need to be completed, saying he called on Friday at 5:30pm but no HR personnel answered. This part does not make any sense as the employment verification has been completed and confirmed by the closing department.
I can forgive the snail speed response and the mistake about the rate. However, it is unacceptable to be clueless and create all the unnecessary trouble. Missing closing documents lending settlement not completing on time.
We were considering refinancing our other house after this current one is settle, and now I know which bank I will stay away forever. So, please, I warn you to stay away from Wells Fargo.
I am very upset with Wells Fargo at the lack of compassion and even genuine concern. It took 4 days to take money out of my checking account and I had started paying other bills based on the amount in account. They have never waited 4 days before. On top of that, they attempted 3 times which resulted in $90 in fees due to lack of money in the account. No one called me to ask what happened with the payment...they just kept trying. Well I am very angry at this practice. That is $90 of my hard earned money. I currently do not work due to health issues and up until recently have maintained my payments with WF. Once I confronted WF about it, they supposedly reviewed my account twice....each time telling me that they would not refund my money. Well this is not good enough. I have sold things to stay afloat and I count on honesty and integrity. I do not feel WF has these qualities. I wish that my account was with another mortgage company.
With a stellar 5-year history of payments on an existing mortgage, an attempt to refinance the existing loan resulted in utter failure. What started out positive, ended miserably. For over a period of 3.5 months, WFHM consistently requested documents upon documents without narrowing the process to a close. The moment of hesitation to submit documents as a client and customer, the process ceased. In fact, the manager handling the matter was not very cooperative or supportive of moving the process forward. Personally, I think the commitment to move the process forward from the beginning was lack-luster at best. WFHM has a less than favorable history of support in lending practices to people of color, now I see why.
Like the other reviews, mine reflects a negative experience with a dishonest and incompetent organization.
I wasted close to an hour on the phone with a poorly-trained customer service rep. Despite my asking repeatedly about service fees, I was put through a lengthy meandering application process. I wasn't told about an annual $75 fee until 50 minutes into the call, at which point I hung up.
When I filed a complaint on the Wells Fargo (WF) website about this, I was told the matter had been handled "appropriately". In other words, WF condones being duplicitious in the pathetic hope that I'd just accept their fees due to having invested my time already.
Anytime your inept service rep wastes an hour of a customer's time, you failed. If you want to mask such ineptness, you failed again, even bigger.
We have just closed with the Wells Fargo Mortgage experience, so I thought a review might be helpful for others. It was frustrating to say the least.
The thirty day closing date was not honored by Wells - a processor was sick for a week and no one else was able to process the loan. Various other reasons for other extensions followed. Ultimately we needed to receive four extensions - almost three months - we had to pay the seller's mortgage in following months to keep the party on board.
By the time we got close to our extension expiring after 2.5 months, Wells third party vendors required further documentation, but would not submit it in time for the verifying party to submit it before expiration, in spite of 12 email and various telephone reminders on the eve of the expiration day.
After 2.5 months we were informed that our interest lock expired and would cost us another $178.00. I argued that it was Wells Fargo responsibility without success.
Their loan tracker online process is confusing too say the least: New document requests kept appearing, although the loan officer informed us that all required documentation was complete. Apparently they have difficulty communicating between various levels, processors, third party vendors. They have chosen to work with those parties - Wells should fix that process, because it is confusing to receive conflicting information.
I am done with Wells Fargo Mortgage for future business.
I have Wells Fargo for my home mortgage and have no problem on paying them my monthly mortgage till I refinance last month with the VA. What I don't understand is why Wells Fargo is not being at all cooperative in giving out information payoff amount to my VA Rep? I thought they will all be very helpful with consumers who are trying to pay off their mortgage? But to the contrary, I have more problems from them just getting them to give out the payoff amount. You would think they will be the first one to help so the process can go through without a hitch. I've been in and out of Wells Fargo Bank just to make them release this information we need so we could proceed with everything else. But so far, nothing!!! Wells Fargo is a joke if you ask me!!! Don't think I will bank with them even if they are the last bank on earth. Might as well keep my money under my pillow. Don't you think that Wells Fargo should be more consumer friendly and hands on??? Maybe they need restructure or retraining in every aspect of their business???