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Been with Wells Fargo for 20 years. Had some financial upset. Asked to use some of our equity (over $100k) to pay our debt. They turned us down! My husband is a 26 yr veteran and they could care less! They are a customer no service bank. We are in the process of looking for another.
Wells Fargo is a terrible mortgage company and I have tried unsuccessfully to re-finance elsewhere. I'm looking forward to the day when I'm able to have my mortgage with another lender. Specifically, I escrow for taxes and insurance. Several years ago, Wells Fargo mistakenly withdrew the entire balance in my escrow account mid-year when they should have withdrawn only a small monthly payment. This withdrawal was not discovered until the end of the year and a large escrow account shortage occurred. While I admit the money was owed, my wife and I did not budget for such a large obligation as we were unaware that we needed to set aside extra money throughout the year due to the Wells Fargo mistake.
Actually this was more than a mistake, I believe misappropriation of escrow funds is a federal crime. My insurance carrier was complicit in this mistake as well. All I asked from both parties was the admittance that a mistake was made. My insurance carrier, MetLife, did write a letter of apology. Wells Fargo never responded to my request for an apology and never admitted any wrongdoing. This type of response appears to be standard operating procedure for Wells Fargo, they are a despicable company.
WF is the epitome of greed. You'd be wise to stay clear of this bank. No matter what they try to market themselves as, the bottom line is they simply want to take your money with as little effort required. Do not be fooled!
We have to constantly monitor our statements for our mortgage because they charge late fees when our payment is NOT late. They don't credit our payment on time that it's made and they purposely make it impossible to make the mortgage payment on time within 48 hours of the due day, requiring us to go to the Bank in person to make the payment. The customer service has failed to make sure that we are not charged excess fees that are NOT due and we continually have to call to make them reverse charges that don't apply.
Wells Fargo sold our mortgage after many years to some lousy fly by company that only looks for faults or lates to make money. They didn't give us prior notice and send us two emails every day for mortgage and loan deals after dumping us! Don't even give option to opt out of emails! Called local branch. If emails do not stop will seek legal assistance. They are creeps.
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Paid for an appraisal to have my PMI removed as I know I had met the threshold with my property value increase as well as paying down my mortgage for the past 5 years. The Wells Fargo broker that came out to do the appraisal was here less than 5 minutes, refused to speak with me as he said he could get what he needed online. Well, the final report for my property was 1200 sq ft short and did not include a second full kitchen and bath and another bedroom. When I complained they told me they stand by the original appraisal despite the fact that the data on my property was 100% incorrect and shortchanged me 1200 sq ft of livable and heated living space. They care nothing about their customers, they only care about public perception.
The first bank the mortgage was with was New Century, then Countrywide took it over. Then Wells Fargo took it, right under my nose, no notice to say they were servicing the mortgage until I got the foreclosure notice. That was in 2012. I applied more than 6x for a modification, and never received one answer. I got more notices to apply for a modification AFTER I sent the necessary paperwork FOR a modification. No answer to my application, Not one!
I filed bankruptcy because time was running out. And since no one answered my application, I had no choice because the Home Affordable Act under Obama wasn't enforced and the banks took their time processing modifications, but were very happy to get bailout money and pay themselves bonuses. Meanwhile, for over 2 years without an answer, the house was foreclosed and sold, I was out of a home. I wonder how many people like me, tried to apply for a loan modification and never received an answer to get help?
Wells Fargo is a joke and don't waste your time. I have been with Wells Fargo for 25 years with significant deposits with 2 previous Home Mortgages. I never missed a payment, never bounced a check and was a very reliable customer. My wife and I found our dream home that we wished to settle in for the rest of our lives and only naturally went to "My Bank" to get a loan and hopefully treated well. In the start, everything looks so promising including favourable rates and loan fees.
They accommodated me with a pre-approval (that turned out to be as good as 1 ply toilet paper). Then the loan process started and what looked to be a great online/loan officer system turned out to be as worthless as the 1 Ply! They do not care if you have built significant assets in your lifetime or been a dependable trusted customer for over 25 years. They tease you with rates, get you to spend $675 and then reject you because you don't make enough money. They don't care that you made money your whole life and have cash to back it up. Stay away from this nightmare.
In 2001 we got a open line of credit through Wells Fargo Financial, in 2006 it was paid off completely. Not once in 13 years did we ever get a statement in the mail about this account, when we tried to refinance this came up as a lien against our home even though it's been paid off. We have been fighting this for over 2 months to get a single piece of paper to close this account. I have hated Wells Fargo since 2001 when we first did this, I will hate Wells Fargo for the rest of my life because they suck!!!!
While visiting family in Florida 800 miles from home my husband became unexpectedly ill and died. This resulted in a major decrease in income. He has insurance but I am unable to get home for 2 months to get to the policy. I called to ask for a 4 month extension to be added to the end of the loan. We have owned the home for 10 years - never been late on a payment - have actually paid extra on the principal and have an excellent credit score. I have $150k in equity. I was given several options including 2 with deferred payment but then have to pay the full 4 months at the end of those months or a refinance program I probably wouldn’t qualify for. I did not want anything more than a few months to grieve get the insurance money and get back on my feet.
After their scandal over opening credit cards illegally one would think they would be more in tune with their customers' needs. I have no idea what hospital bills will be coming and do not want to use all my savings until I know. During this tragedy I would have expected some degree of compassion. My family and I will never use Wells Fargo again for any banking needs. They look for way to take your home.
Object: Refinance investment property with Wells Fargo held Mortgage... 20 years remaining at 6.5% into a 15 year mortgage at 4.75%. My experience: Fifty six days of insatiable demand for financials already provided and/or readily available through review of my business and personal checking accounts. Their Underwriting Writers could not comprehend basic accounting principles. Example "Verify in writing where your $30,000 deposit to a mutual fund came." Answer: "Look at my Wells Fargo Business Account (with balance of $400,00); then look at transfer to my Wells Fargo Personal Account; then look at auto transfer from my Wells Fargo Personal account into my mutual fund Account." And on, and on, and on for 55 days... On day 56 I said, "Enough. Cancel my application." P.S. Chase qualified me in 72 hours, closed three weeks later.
I am self-employed, Great credit score (almost 800), at least 200k equity in my home & my business makes decent money. Been a customer with Wells Fargo for over 22 years. NEVER been late on a payment. Always paid more than the payment amount. Sounds good so far? Recently I asked Wells Fargo to pull 50k out of my home. They asked me to pay for an appraisal & credit check to the sum of $505.00. After all that, I receive a call from Wells Fargo today telling me that the underwriter would like for me to pay off a couple of bills in order to continue with the loan.
Also the underwriter said that my total income is $1600.00 per month. I immediately said that if my take-home pay was $1600.00 per month I'd be filing for BANKRUPTCY! Then I said to them I'm glad that I really don't need the money & please STOP all actions on the refinancing of my home. I will look elsewhere. I also ask them to send me ALL the documents that I have given them & a copy of the underwriter's report. I can't believe the underwriter & Wells Fargo. I told them that I am going to find another lender to take over my balance of my home & I will NEVER do business with them again.
After I lost my job due to the company filing bankruptcy, I applied for mortgage assistance with Wells Fargo. They offered me reduced payments for 6 months. During the 6 months they continued to report negatively on my credit report and held each payment in suspense until a full payment was made. During this time, and even though they were showing a past due amount, I felt everything was being done on an ethical basis. At the end of the “mortgage assistance”, I asked to extend the reduced payments as things were getting better for my family and me but we weren’t back to our original income.
The second time around communications with my “home preservation specialist ceased to exist. They requested information that a less educated person would have no way of gathering. Then I quickly received a letter in the mail claiming my only option was a short sale of my home based on my income level. The income was stated in two different spots on the form at two different levels and was about 20% of our actual income. I called 9 times without a return call from my “home preservation specialist”.
I finally reached someone who had no knowledge of my account and confirmed that the amount shown by Wells Fargo to determine my eligibility was a gross amount. And confirmed the requirements to eligible for assistance which was the mortgage payment needed to be no more than 20% of my gross household income. I requested an appeal and sent a certified letter with documentation my income exceeded the threshold to receive assistance. The loan is a VA loan, so there are many option supposedly available. In the letter I requested for the past due to be applied to the end of the note and have payments return to the original amount.
Before my certified letter was even signed for as receipt by Wells Fargo, I received a letter stated Wells Fargo was reviewing my appeal. 2 days after the receipt of the certified letter, I received another letter rejecting my appeal with no explanation as to why. There is no way they reviewed my documentation. I still cannot reach my “home preservation specialist” Leslie **. There is nothing about this program that resembles mortgage assistance or a home preservation specialist. I am convinced this program is being mismanaged by Wells Fargo to drive troubled customers into foreclosure. I’d give them zero stars if possible and plan to file suit against them.
As I prepare to write this the box asks to keep things factual. FACT: Mortgage Paid off in Full 1/9/19. FACT: WF Continues to Draft Account 1/15/19. Told by representative refund would come within 5 business days. FACT: ON Call #5 no refund as of 2/13/19. FACT: NO HELP at all - Even give exec Complaint Case # ** and PH# 800-853-8516. FACT: Was told someone will call back within 24 hours. Called back following day. Was told no case # exists and number given was to a home mortgage dept. FACT: Tired of the runarounds- main reason I chose to close this mortgage. Been on the line for some time now on hold. Long enough to find this website and write this review.
Updated on 03/05/2019: After receiving a prompt reply to my previous Consumer complaint, I was hopeful for a resolution. Emails and phone calls asking me to let them look into this. I received a letter dated the day of the phone call denying again help with the mortgage. So, while they were talking to me about help, they had already mailed out a letter of denial. This is about as low as you can go. Not only did they deny help they lied about receiving paperwork from me that supported their reason for denial. I now know what my next step will be. Have to check a star in order to post.
Original review: After my husband passed my income dropped by 60%. I applied for a loan modification from Wells Fargo. After submitting and submitting all the paperwork I received a letter telling me that I didn't qualify. My income in the letter was incorrect, much more than I submitted. I called Wells Fargo and told them about the error and they told me that they grossed up my income. I asked them to explain what this meant and she said they grossed up my income to a level that I might earn over the next 40 years. I am 68 years old and on Social Security!! How can they do this?
I have a mortgage through Wells Fargo. I have an Escrow account set up with them because it is required for "convenience". I checked my account on Feb 5, 2019 to make sure my insurance had been paid because they had failed to do so in December 2018. They paid my homeowners policy but not the windstorm and lied to me and told me it was because they didn't get an invoice (same insurance company for both policies). I had to call my insurance company, whom has never failed to send an invoice in the past 9 years, and get them to reinstate my policy and get Wells Fargo to call them (escrow's entire purpose is to avoid this). I went to check my account on Feb 5, 2019 to make sure all payments had been made because apparently I have to do their jobs as well.
I discovered that on Jan 10, 2019 there was a payment made from my account in the amount of $1250 to AAA insurance for a policy that is not mine, for an address where I do not live, for a person with a different name whom I have never met in a different state. I called and have been on the phone for hours over the past few days, and have now been told that it will be researched by a specialist. It takes up to 2 business days to assign the case and another 10 days or longer to resolve it.
I have done the research. They have admitted their mistakes and that their own policies were not followed when distributing the money, yet they still have to wait all this time to give me my money back. This happened on Jan 10, 2019 and I am not getting my money until maybe March, but who knows because every time I ask for someone's number up the ladder to call, I'm told they can email them and they will call me at their convenience or they have no number at all. UNBELIEVABLE.
My wife and I have been with WF for 10 years and last year fell on hard times after losing both of our parents. After falling behind on our mortgage we were told that we could have asked for a forbearance months later. We began to go through the foreclosure process and was sent back funds in the form of a check from payments we were making. We reached out to the company to have our mortgage restructured and were continuing to make payments as planned. We never heard back from the agent and our plan had seemed to be removed. After speaking with another representative several weeks later, we were promised that they will be with us "every step of the way", we received a notification in the mail that we are now in foreclosure again.
This has been going on for about 8 months. Since we spoke with both representatives we have heard nothing but crickets on how to get help to resolve this issue. In correspondence we were notified that we did not fill out the 5 page document that was due back most recently even though we have confirmation that it has been sent. If I could give advice to anyone looking for a mortgage I would definitely advise to run as fast and as far away as you can from WF. They will drain you. They will not help you.
An employee lied to me about 2 products. He convinced me it would help me but it turned out to be a lie. I lost my home. They’re still stopping me for going to court to show the truth. It should be a way for them not to get a star.
We've sent you a response privately. Please review your messages at your convenience. Thank you.Respectfully,
I can’t believe they are still a company and people would trust them with anything. I unfortunately had my mortgage sold to them and I am now stuck with them. My home cost me $300k to build 5 years ago and after upgrades, increases in tax assessments and home that are the exact same model and upgrades as mine were selling for $330k+ I decided to do a BPO. THESE CROOKS VALUED MY HOME AT $258k so I would have to continue to pay PMI. I disputed it and fought with their customer service for 6 months and even went through the BBB and they refused to redo the BPO, refund my fee, remove the PMI or sell my mortgage to another lender. Worst customer service and company I have ever dealt with.
Wells Fargo will just deactivate cards without your prior knowledge or authorization and then not reactivate them. This leave you no access to your money when you're traveling overseas with no alternative than to fly back to your home for the new card they sent you or wait days in one location overseas for them to sent a new card there. This is the final of many issue I've had with this bank. DO NOT BANK WITH THEM, THEY ARE CRIMINALS!
If you get behind on your Wells Fargo Home Mortgage, they will disable your ability to pay using their online account center. It doesn't matter whether you've had no NSFs, payment issues in the past or any other problem. If you fall behind, you will need to resort to alternative methods to get money to them. Forcing you into more difficult methods of payment should be illegal.
I have had a credit card in the past that actually gave MORE, FREE options to pay instantly if you happened to come close to your due date. It is obvious that Wells Fargo has no interest in actually resolving accounts, and simply is still trying to summarily begin foreclosure or get as close to foreclosure as possible by placing roadblocks in the way of customers. Simple fact of the matter is, I'd rather be on their website, submitting a payment right now, rather than here. Instead the message I have is: "...Not currently eligible for online payments. Possible reasons include overdue payments..." Seriously, take my money!
I bought my home 7 years ago. After losing 2 jobs in the same year, I applied for a loan modification. I had some income when Wells Fargo put me on a trial payment program for four months. They strung me along for over a year. My arrears was approximately $30000. I found a job paying significantly less than I was used to making. Wells Fargo denied the modification. I filed a chapter 13 bankruptcy. I applied again for the modification. I was ordered to pay an additional thousand dollars through bankruptcy. This time the modification was approved. I was never offered the HARP or HAMP programs to get an affordable mortgage through Wells Fargo.
Fast forward 3 years later my mortgage has gone from a 224000 mortgage to a 278000 mortgage. I can't just walk away as easy as people think. This is a VA loan and with bad credit where will my son and I live? I've asked for help and no one can help me. My monthly payment has jumped from 1300 to 2013 per month. Wells Fargo has held onto my mortgage since I've been in the home.
Wells Fargo mortgage consultant, Rich ** was not helpful at all. We told him to ask us before ordering appraisal in written and him, Senia ** and, Joy ** confirmed it in writing. But he went ahead with the appraisal without asking me. He said I verbally agreed to it which I DID NOT. Another instance - Wells Fargo rejected my 7 year ARM and offered me 30-year mortgage which I said no to and never wanted it in the first place. That's fine but I said NO to Rich and he mentioned in the application that I said YES. All it is verbal. I gave him reasons too that why I want to go for 7 year ARM and he agreed to it but in the application, he mentioned that I said yes to 30-year fixed mortgage. I am going to close my Wells Fargo Checkings account and not going to recommend any of my friends to do business with Wells Fargo.
I made an extra month mortgage payment online but it still showed that my next payment was due again on the first the following month instead of in two month. I called the mortgage department to see what happened just to get the runaround. I'd talk to one person tell them what was going on just to be transferred to someone else and explain it all over again to that person just to be told that they'd have to transferred me to someone else go over it all over again. Finally after the 5th person and 40 min later I was told that I'd need to talk to my credit union and get it worked out with them!!!
Ok so I called the credit union and they said I'd need to come down and handle it in person. Ok so I drove 30 min to the credit union just to be told that I have to wait a few day till it processes so they can TRY and do something about it! I have never dealt with any company that is more scattered brained all over the place and with such horrible customer service. If I could avoid this company I would but they have my mortgage so I'm stuck with them for the next 18 yrs. Please take my advice and the numerous other customers that have wrote reviews and don't do business with them if you can help it...
We were put into a mortgage at 10.8% interest in 2008 because we were behind on some bills. We were told that if we kept it current for 6 months they would refinance at a lower rate. We did. They wouldn't. This mortgage has haunted us for 10 years. We have fought to get help every way we could imagine. The mortgage assistance department actually offered us a modification at one point that raised our monthly payment. We have been lied to repeatedly during this process. I have reviewed their notes in our file and found the contradictions in what they told us detailed in writing. I have never encountered a more unethical company. Trust me - they have not changed their ways. Can't understand how they continue to get away with this...
First the economy and then the 3rd and final life changing event! Husband fell off roof and while doing x-rays the Doctors not only found a broken back, they found lesions on his kidneys!! Couldn’t fix his back but they had to do a partial nephrectomy! Hardship loans!! Bunk!!! Loan modification attempts probably ate up at least 4 or 5 years of our lives!! The famous 6 months to a year of paperwork each time! Then you’re told your income does not substantiate a loan! Hardships must only be for financially fit people? Here’s the real picture! They determine your income at the beginning process of the loan so they already know they’re not going to help you, they just string you along for months! Now the reason you’re applying for this modification is because you need to lower your mortgage payment to help you meet your “hardship” needs!
So while you are already devastated by your life altering hardships they consume so much of your time that you are mentally exhausted from trying to get help to save your home-your place of true comfort while your hearts are broken!! They sold our loan and we have a new servicer starting December 4th 2018!! Reviews on this company are super disheartening. They researched our complaints for about 4 months! Told us they absolved themselves of guilt with regards to our situation! Guess they forgot about attorney fees to save our home while my husband was trying to recover from his surgery!! They did also repossess his vehicle while he was laying there sawed in half with a crushed back and crushed arm! I understand that business is business but when there is a real human tragedy or shall I say hardship rules need to go out the door! Or at least stop fooling the customers with fake hope!!
We have never recovered from all the trauma, it was touch and go mentally for a long time! We missed so much by being consumed with the lies they told!! Where’s the help for all the people they led on even though they knew income guidelines were not met in the beginning of each modification you applied for?? Where is the justification for all of us for the mental trauma?? Never had too much!! Survival mode is something we used to! But they sent us to the edge far too many times! It’s not even so much about being denied as it is for the fact that they traumatized so very many people. Should decent people because of unfortunate and life altering events be left with no real choices? Help all people to regain their ability to feel they are worthy!
I’m a single mom disabled bankrupt going homeless. For yrs I begged pleaded cried faxed papers. I couldn’t afford to lower rate. Finally they did but increased the loan 15 yrs for profit greed abuse of power ego and guy worker bald. Fake news tells ya their owner does right by customers. BS! They leave single moms who are too sick and disabled for streets and their kids to die inhumanely. They never gave me my abstract of title or land survey and they still refuse. They said due to legal reasons they have stolen house for profit. They only leave you homeless as only option. God will strip them of riches at appointed moment for what they do to the least of us. RUN!!!
I received a letter in the mail today 12/01/18 stating that Wells Fargo sold my mortgage to Fay Servicing. I was not given any notice as to why or any chance to stay with Wells Fargo. I did my research with Fay Servicing and they have a D-minus rating with Bank Rate. ORG, and the BBB Better Business Bureau has 101 complaints this year.
Why did Wells Fargo sell my account when I make my payments monthly. Yes sometimes they are later in the month, but I am not behind in my payments! Why would Wells Fargo SELL my account to a company so horrible as Fay Servicing??? I called Wells Fargo and spoke with a woman who was rude, and all she would tell me is that it has been sold to Fay Servicing and it is a common practice. I asked her again why and she would only tell me the same thing! I got no letter from Wells Fargo to tell me this, nor did I receive any notification of the sale or reason as to why! I don't see how a customer of 12 years... yes, 12 years would be treated so horribly!!!
I am a single father raising my 2 daughters by myself trying to make ends meet on one paycheck and still making my monthly mortgage payment along with other bills. This company is HORRIBLE for mortgages and not to mention my interest rate! Stay away, far away!!! They practice unfair methods and this was devious and underhanded!! You have been warned!!!
I requested my MIP to be removed. Paid $200, no problem. The BPO came back at $221,000. The neighborhood I live in has spec homes so there are no differences except for lot sizes. Literally. They utilized 2 smaller floor plans to average to the 221. I disputed it and provided 3 exact replicas of my house at $225,000. They acknowledged my comparables and then just told me they were sticking with the $221,000 review with no explanation other than telling me they had other information (without actually providing it). Mind you my lot is bigger than any of the $225,000 comps. They are currently arguing with me over $4000 when they have never seen my property or provided a reason other than basically, “because we said so.”
I am a Realtor with 13+ yrs experience. Just closed listing where closing date was pushed out 3 times because of Wells' inability to get things done. One dept doesn't know what the other is doing. Do not use them!
Wells Fargo Mortgage Company Information
- Company Name:
- Wells Fargo
- Year Founded:
- 420 Montgomery Street
- San Francisco
- Postal Code:
- United States
- (800) 869-3557