Wells Fargo Mortgage

Wells Fargo Mortgage

 4.0/5 (2618 ratings)
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About Wells Fargo Mortgage

Wells Fargo (NMLS #399801), one of the biggest financial services companies in the country, provides home purchase and refinance loans in all 50 states. You can check rates online and then apply online, over the phone or in person with a local mortgage consultant. Loan options with Wells Fargo include conventional and government-backed loans, as well as jumbo loans and loans for new construction properties. As of the publishing date, Wells Fargo has temporarily suspended applications for home equity lines of credit (HELOCs).

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    Overall Satisfaction Rating

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    Pros

    • Publishes rates online
    • Online application tracking
    • Mortgage consultants in 39 states and Washington, D.C.
    • Plenty of online resources

    Cons

    • Does not publish fees upfront
    • No home equity loans as of publishing

    Bottom Line

    Wells Fargo’s mortgage options include conventional and government-backed purchase and refinance loans. You can apply online, over the phone or in person in select areas. Start by checking rate estimates on the website.

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    Page 3 Reviews 40 - 70
    Rated with 1 star
    Verified Reviewer
    Original review: March 2, 2021

    Normally I don't like to do bad reviews but this 1 takes the cake. I been with this company for 11 years. I had my up and down with this company. But when there was an issue with payments they are not good. I had a representative of the company lied to me. Now this issue occurred 3X in a year. They offer Solutions to the problem but was unable to provide them due to the account being complicated. This company instead of fixing the problem or even trying to come up with a solution they bailed out on me. Be warned at this company. It's not in your best favor.

    7 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 24, 2021

    I currently have a home Mort, with Wells Fargo, 20+ years, I am buying a second home, I have Every account you can have in their bank, Checking, Savings, Retirement, Line of Credit, Credit cards, Debit cards, CD's, College funds, A LOT OF MONEY!!!! I asked for a Pre approval letter to give a Realtor, That's all, I should have gone Lending Tree, or anywhere else but here, No loyalty at all. NONE, I am treated like I have 5 dollars and am insufficient at that, Literally by some guy in another state that doesn't care, I had it to do over, REGIONS BANK, THEY TREATED ME THERE LIKE A PERSON, Did I say my credit was Excellent!!! Yes it is!!! If you Get Jake ** for your application, HANG UP!!!

    12 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Feb. 17, 2021

    There are many brick and mortar locations where you can talk to someone in person if you have problems, questions or need to make changes. The website is easy to use and the company keeps you informed by mail and on the website.. The statement is easy to read.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 21, 2021

    I'm a first time home buyer and got my mortgage with Commerce Mtg and my loan was sold to WF. I wasn't properly notified due to some errors with my address and phone number so I kept making payments to commerce, ON TIME. Then, I find out that my FICO score went down so I do some investigation and find out my loan was sold. I reach out to commerce and ask for my money back so I can make payments to WF. Once received, I immediately make payments to WF. I have been making payments on time to WF for a year now. I have auto payments set up.

    I still wanted to have my credit report fixed since it doesn't truly reflect my ability to repay debt and risk to lenders. Commerce was willing to help and get it removed from my record but WF refused to help me. I called multiple reps and chatted, everyone understands but no one has done anything. They kept asking me to mail something. I asked for call back and no one calls back. I hope other so called 'valuable customers' aren't treated as such.

    4 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Jan. 6, 2021

    My current mortgage is with Wells Fargo (sold to them after closing 2+ years ago) and I have not had any issues because I pay my mortgage and I don't create any issues. I thought since my mortgage and main checking account is already with them, refinancing should not be an issue. I was wrong! I started the refinance process with them on September 22, 2020. My initial closing date was November 21, 2020. Today is January 6, 2021 and I still have not closed and I don't have a "real" closing date yet.

    In the beginning I was told that I had an appraisal waiver and I would only have to pay a few hundred dollars in closing cost by the mortgage originator. He told me I would save over $500/month and my interest rate would be below 3%. When the loan went to underwriting, they asked for more documents and verifications than I had to provide when I originally purchased the home. At one point my file sat with underwriting for 3 weeks with no activity until I asked the processor what is going on. They asked for one additional document, then the loan was cleared to close. But, I had already missed my November 21st closing date.

    So my next closing dates were December 4th and 8th. I was told that my closing costs would be $1700+ and my December mortgage was included in the loan. Then after emailing and calling them on the 4th I got a call from them at 2 pm and they said I couldn't close on the December 4th because my bank account didn't show that I had the $1700 in my account. But, I got paid on the 4th and I had over $3000 in my account that morning. Then my closing date was set for the 8th and my closing cost would be $500 and my December payment was still included in the loan. On December 8th instead of closing, I was given two options. Pay my December mortgage and my closing costs would be $2200+, or I could pay for an appraisal and wait to see if the value of my home comes back higher than what I guessed it was in the beginning to see if my closing cost could be lowered and I would still need to pay my December mortgage.

    I refused to pay for an appraisal at this point. I paid my December mortgage and asked why would my closing cost go from $1700 to $500 to $2200 after paying my mortgage. No one ever told me why or explained what happened. Throughout all of that I never received a closing disclosure. I was given another close date of December 28th and today (January 6th) but didn't receive a closing disclosure or a closing amount. After over 3 months, it's January and the same song keeps playing... "We are going to get you closed. We are balancing and getting/waiting on final title fees." Worst mortgage experience ever!!!

    9 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Dec. 14, 2020

    I am a financial counselor. I like having full control of my money, how it is spent, how payments are sent etc. I recently got a new mortgage and ended up with Wells Fargo as my servicer. I HAVE ALWAYS HATED WELLS FARGO, they were terrible as a bank when I was in school and HAD TO use them for my on-campus transactions, they are terrible as creditors to my clients, they are horrible as mortgage servicers to my clients AND NOW ME. I DO NOT WANT TO SET UP AUTO WITHDRAWS WITH YOU ON THE PHONE. I shouldn't have to do that to pay my mortgage how I want to pay it!!! If I pay half of my mortgage biweekly to maximize my payments WHY CAN'T YOU APPLY THE PAYMENT AS SUCH unless YOU withdraw the money? NO, I WANT CONTROL OF MY MONEY AND MY BANK ACCOUNT PERIOD. If I could change servicers, I WOULD. If I had a choice on who my servicer was, it would not be WELLS FARGO!

    8 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Dec. 2, 2020

    Do not ever use Wells Fargo Home Mortgage. Even though you might think you are saving money, they will cost you so much more in the long run. They are negligent about the process, take absolutely no accountability for their delays/actions, and clearly have no care for their customers. My settlement has been delayed twice now due to Wells Fargo not completing a loan process on their end. They realized on the day that closing documents were due they had forgotten to verify something on their end.

    I called for hours and email numerous times, and no one could give me a straight update for over a day. After hours, they had an assistant call me saying the process was delayed again and I would not be able to settle on the delayed timeline. Still no response from any managers or my loan processor, only a half-excuse/apology from the manager of the team. Beyond negligent on a signed contract and just extremely unprofessional from any company. Take your business anywhere else; Wells Fargo has never and will never care about their customers, and their loan processors are too incompetent to even answer a phone call.

    15 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Nov. 30, 2020

    I chose to use Wells Fargo because I've been a customer for over 20 years. However, the incompetence in Salem Oregon is blatant and dangerous. Information going to the cloud, constant request for the same information, and supervisors that take no accountability.

    14 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Oct. 11, 2020

    Worst bank in the world. Because of covid-19 they are not Lending. They just want to take your money for fraudulent appraisal and credit application. This is how they make their money. Last minute they will deny you. There's nothing you can do about it. One person gets your application and then 10 other people on working on your application that you don't know who they are. They just keep passing your application to different people.

    26 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 8, 2020

    Updated on 10/30/2020: Complaint Description: Wells Fargo claimed in writing that they removed me from forbearance and that my mortgage statement is accurate. Both statements are lies. I received a response from a complaint I filed with Wells Fargo Home Mortgage today, 10.30.2020. They claimed in writing that they had already removed me from forbearance. This statement from WF is a lie.

    I went to my online account and found I had not been removed. Then I called WFHM and a rep confirmed that I had not yet been removed. In another complaint I filed against Wells Fargo Home Mortgage, I requested a current and accurate mortgage statement due to the fact that my statements have not been accurate. Two mortgage payments that I've made have not been applied to my account. Today in the response from WF, they claimed that my statements were accurate. This is another lie. Apparently WF believes they can resolve a complaint by lying.

    When I called WFHM today the rep could not explain to me why my 2 payments had not been applied. She then said she'd connect me with an executive but I was disconnected before I had a chance to speak with anyone. I called two more times and I was disconnected. The 3rd time I spoke with an executive but she also could not explain to me WHY my payments had not been applied. She then informed me that she would have to OPEN A CASE. So they have opened another case even though my other cases on these same issues have not been resolved by Wells Fargo.

    This is all WF seems to do. They open a case, the customer waits, eventually WF responds, but they lie, nothing gets resolved, and another case is opened. Save yourself time, energy, and aggravation: Don't do business with Wells Fargo Home Mortgage unless you want to deal with lies, corruption, and deception. Choosing WFHM for a home mortgage is the worst mistake I've ever made.

    Original Review: There is no doubt in my mind that Wells Fargo is a shady company who has set me up to take my house. I was OFFERED a loan modification program by Wells Fargo in early 2020. I received the loan modification paperwork around the time the pandemic started and the country was shut down. At that time, I was a teacher who was instructed to teach online for the remainder of the school. I had to get the loan mod paperwork notarized, but I am 65 with some health issues and was concerned about contracting the virus, so I asked Wells Fargo if I could get the paperwork notarized when there was no longer a pandemic, as at that time I thought the pandemic might be short-lived. WF assured me I could do it later, and to just keep making monthly payments. The pandemic didn't get better. I live between Philadelphia and Trenton, NJ, and numbers have been consistently bad here.

    Every month when I called to make the payment (always being put on hold at least an hour or more before the payment could be made) I inquired if not getting the papers notarized could jeopardize the loan modification. Every single month I was told that it would not. When I called in August to make the payment, I was informed that I no longer had a loan modification with WF because the paperwork did not get notarized. I was shocked as WF had assured me each month that it could wait. I was given no warning whatsoever that they would do this. WF could have told me that I would lose the loan if the papers weren't notarized. I was NEVER told that. WF didn't have the decency to even contact me. I only found out about it because I asked about the loan mod when I made a payment. I received a letter from WF a week later informing the loan mod ended.

    When I checked my mortgage statement, I discovered WF had added over $10,000 to my statement, and claimed the amount was overdue. Now the overdue amount is stated at over $9,5000, even though I made a payment every month. In August I requested that the case be reviewed in the executive office and although I was told I'd be given an answer in 10 days, it is now Oct. 7, and I'm still waiting. Every time I call the executive office I'm told something different. On Sept 24, I called the ex office and asked to speak with a supervisor. She advised me to get my original paperwork notarized ASAP and mail it to WF. I did that the following day. I called WF 2 days ago and they claimed they hadn't received the paperwork yet. I called the ex office today and spoke with a man who checked and told me they had received my paperwork.

    He said he'd transfer me to the caseworker who could provide more info. When I spoke with her, she claimed FW had NOT received the paperwork. When I asked to speak with her supervisor, I was also told the paperwork did not arrive. I requested that she overnight me another copy of the paperwork so I could get the paperwork notarized again and this time I would get confirmation when they received it. She would not do it. I have a copy of the original notarized paperwork, but was told WF will not accept anything but the original copy. They won't allow me to fax or mail the notarized copy even though I had it notarized at a Wells Fargo Bank. Two days ago, I was told for the FIRST TIME that the loan mod would only be reinstated if the mortgage lender approved.

    So why was I never told this previously, like every month when I called to make a payment and inquired about the papers being notarized? I firmly believe that Wells Fargo is incredibly dishonest when dealing with their customers. Wells Fargo also put me on a loan suspension program, even though I didn't ask to be placed on it and I haven't missed a payment. This is a program that has something to do with people losing their jobs due to the pandemic and it doesn't apply to me. I believe this entire fiasco has been a ploy to take my house. I would never recommend Wells Fargo to anyone and wish I had never done business with them. I had no idea they could be so corrupt.

    10 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 25, 2020

    Updated on 10/09/2020: I keep receiving calls, from Wells Fargo. But nobody gives me a full explanation of my denial reason. I deposit yearly $700,000.00 my income out of there is $180,651.00 yearly. From my business account I pay all of my personal and home expenses, which comes out close to $50,000.00 to $60,000.00. Still even with great credit, great income. Wells Fargo denied me a loan saying not enough assets. Current balance in my account is $85,000.00. They say not enough to pay $15,745.00 in closing costs and another $2,800.00 to complete the downpayment.

    Somewhere their math is wrong. I had made it very clear from the beginning, that I had closed my personal account about a year and a half ago. They told me, "Don't worry. We will use your business account." And still they say I don't have enough assets, I own two properties out the country with a value close to $620,000.00 and have an account out of the country, will not say balance but a big one. Thanks Wells Fargo. I will be closing my accounts and take my business elsewhere, since I am no good for you. Fausto **

    Original Review: I called Wells Fargo, applied for a mortgage, got a preapproval right away. Income and credit are great. After one month then I have to call in, to find out that I can't use my own money from business account. I stated clearly that I did not have a personal account that everything comes out of my business account. Was clearly told, "No problem. You have plenty of money in the bank." Then they tell me that I can not use my own money. Ridiculous. I been with them since 1991. Will close all my accounts.

    16 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 12, 2020

    For the 3rd time since we got stuck with Wells Fargo Mortgage, they have taken a stipulated principal payment, an extra payment, and either misapplied it or not applied it and they refuse to give us credit on interest charged. We have always paid our monthly payment on time; it is automatically drawn on our checking account at another financial institution. We only physically go to Wells Fargo to make extra principal payments. The first time we made an extra payment, like months' worth of principal, they showed it as rec'd but did not apply it to the principal until we brought it to their attention. The second time, they applied it to the next payment, which wasn't even due, and applied the balance to the principal. This time, on September 2, 2020, they once again posted it to our account but did not apply ANY of it to the principal.

    When I called them on it, they said it would be applied after our monthly payment was received and asked if I wanted to pay it while we were on the phone. I told them it was automatically paid from our bank and we were not making a duplicate payment. They already had money they were sitting on, not applying it to principal. They said they could not apply it to the principal until after the monthly payment was made. The monthly payment was made and I had to e-mail them and complain because the big payment we made was still sitting there.

    That night they applied but not back to Sept. 2nd, they applied it on the 8th and it did not show up until the 9th of September. I asked for credit on the interest because they had had our "good money" payment since the 2nd. They REFUSED to give us credit. Once again, Wells Fargo Mortgage has earned their F rating. It should be F-. We had no choice in going with them; the loan processor company, Nova, sold it to them without any choice from us. This has been a disaster loan from the start. Why can't Wells Fargo clean up their act?

    9 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: Sept. 4, 2020

    My mortgage was sold to Wells Fargo which I was furious at first; then after talking to them I calmed down. Then when it was time for my house insurance to be paid, my insurance company sent the bill to the wrong mortgage holder, I was frantic since I could not get hold of my insurance agent to correct it; my insurance company dropped my home owners policy. I called Wells Fargo explained the situation and they got on the phone and help straighten the bill issue out. Great customer service from the insurance division of Wells Fargo.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 29, 2020

    The worst customer service. I avoided this company after they opened a fake credit card in my name but unfortunately they bought my mortgage note. The customer service is so bad I would never ever open a bank account, mortgage, or any other financial product. If you do business with them because you choose to (if they do not buy out your mortgage note) then you deserve the bad service you get from a national company built upon liars and cheaters.

    8 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 26, 2020

    Only good at stealing money. They are in bed with the FED, and will screw you out of a good loan with the JPMChase. Both were same rates, it is a scam! I know they are only interested in large loans, so they can rip people off!

    7 people found this review helpful
    Rated with 4 stars
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    Verified Reviewer
    Original review: Aug. 25, 2020

    Application process takes too long and found there a few departments handle your application and they do not communicate with each other. Every step the consumer need to be involved to share the information.

    9 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: Aug. 24, 2020

    Initial loan process was smooth. But trying to refinance was an issue. It seem since our loan amount is below $100,000 they will not reduce our rate and lower our payment. They are the same as all the others we have contacted.

    4 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: Aug. 23, 2020

    Updated on 10/05/2021: We had a VA home loan which was sold to Wells Fargo about 2 years buying our house. We had nothing but bad experiences with them, i.e., they talked my wife into signing paperwork adding 15 years to our mortgage which made it a 45 yr home loan the whole time since then so we decided to refinance and get out from under them. We refinance in Sep and this is now the beginning of October and they have decided to keep our escrow that we had built up. This Bank is nothing but a bunch of crooks. Do not deal with these people because they don't care about you, just how much money they can swindle out of people.

    Original Review: Do not deal with this company. They do backhanded deals and my 30 yr mortgage turned into a 45 year mortgage. They lie to their customers and cheat them. When you call to talk to someone they put you on hold forever. Paying on mortgage yet my loan amount keeps increasing each month and they say they have no idea about it yet they are the ones reporting it to the credit bureau. Stay away from this company.

    8 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: Aug. 22, 2020

    Ok, I’ve felt with Wells Fargo before it was not a good experience. Now by no choice of my own, my mortgage was sold to Wells Fargo. I would have never chosen them. But so far it’s been pretty good, no issues yet.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 21, 2020

    Got completely to the closing week and was told 2 days before closing they could not verify my employment, this was after 3 weeks of giving every doc they asked for. Lost the house. My credit rating 802.

    22 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Aug. 20, 2020

    I highly recommended my mortgage with Wells Fargo. They have an exceptional customer service, very polite and knowledgeable. They had been my company for so long now but I had to contacted them several times during this pandemic even though I had been able to pay my mortgage they had mentioned if anything they would work with us. We had never been late and we haven’t get any other loans with them but I’m sure if I ever need one we know we wouldn’t have any problem. I’m a 100% satisfied and I highly recommend them.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 15, 2020

    I am writing to tell you why I withdrew my application for a refinance mortgage and to tell you why I will never do business again with Wells Fargo. During the past 2 months I have had an unimaginably difficult time getting my application approved to refinance my current Wells Fargo mortgage as a 15-year re-finance for our primary residence. Let me be clear that my wife and I should be ideal applicants with a high credit score (>800), no negatives and plenty of assets. Our current 30-year mortgage is already with Wells Fargo. It is apparent to me that the mortgage process at Wells is broken and designed to convenience and protect the bank, not the customer.

    • No one person takes personal responsibility for the mortgage. My initial contact with the mortgage agent was tossed over to another agent who then placed blame for delays on his unannounced vacation of ~2 weeks. No one covered his voice mail while he was on vacation nor did he seem concerned about that. Even when he was back from vacation, he repeatedly promised to return my calls with resolution of an issue and in most instances no call was ever made.

    • I cannot tell you how many times I have been told by one of your employees that there is nothing they can do about my issues and they refer me to someone else in another division. It is apparent, to me, as a consumer, that Wells Fargo is so administratively over-partitioned that communication between the pieces is almost nonexistent. The corporate motto, in my opinion, is “It’s not my job.” Time and time again the response of the employees is that “I’m sorry you are having a problem let me refer this on to someone who can address it... There should be a single person who advocates for the consumer and gets the entire process done with as little headache as possible. No wonder people still deal with their community bank where face-to-face relationships grease the system.

    • Even when I tried to file this complaint, I was transferred not less than 5 times with each employee saying, “I can’t personally handle this...but I will try to find someone who can.” Today it took me nearly 90 minutes to reach a supervisor in the mortgage department who apologized repeatedly for what I’ve gone through but, in the end, said she was incapable of doing anything about it and would have someone from the “complaint” department contact me later on next week. "It’s not my job..." There was poor to no communication between the various people who managed my application.

    • 6 weeks into this process the agent was still of the opinion that I was self-employed and it was apparent to me that he was not at all familiar with my application.

    • The “underwriter” repeatedly asked for documents applying to a shareholder who owned more than 25% of a corporation, a situation which does not apply to me. I can’t tell you how many times I tried to explain that but the mortgage portal only allows you to upload documents and not questions or explanations.

    • I was asked not less than 5 times to supply 2 months of business statements regarding a municipal bond. Each time I uploaded the banking account that holds the proceeds of the bond. In each instance and the request kept being put again on my to-do list. The agent laid blame on the underwriters stating that he had no control over this. Despite multiple calls with Mr. x and Mr. y the problems were not addressed or resolved. The software system is designed to convenience the employees at Wells Fargo and not the applicant.

    • Three times I was locked out of my mortgage file. This required calling a toll-free number, being put on hold 7-24 minutes and then going through an interrogation asking, for example, what car I bought in 1998.

    • The queries on the mortgage portal are cryptic and no one is readily available to explain them.

    • On my final call to ask how to complain about this experience, I learned that my cell phone number was incorrectly listed in the system (a two-number transposition).

    The final straw that terminates my relationship with Wells Fargo was the fact that I was able to get a refinance mortgage approved by a competitor last night. Sitting at my computer with an agent on the phone, I was approved for a $300,000 re-finance at 2.625% in under 40 minutes. Fannie Mae approved the application and all I had to submit was my pay stubs, 2 years of taxes and signed consent documents.

    Wells Fargo mortgage is a broken company. Despite the issues they have had over the past few years with consumer fraud and mistreatment of mortgage customers, I naively thought that as a long term customer with an unblemished payment record refinancing would be a snap. Instead, I find a company that is so fearful of individual responsibility that nothing gets done and employees don't work with one another. Wells Fargo employees are so fearful of doing anything wrong they essentially do nothing beyond the strict boundaries of their job description. There is no corporate mandate to follow through on promises made to customers and I especially hold out Mr. X and Y as examples of this. No one seems to be concerned about the customer experience.

    I can tell you that I will post this letter far and wide on the Internet and can only hope that Wells Fargo takes my experience to heart and tries to fix the mess. While I am doubtful that your actions constitute any criminal behavior, I will file a complaint with the Missouri Attorney General and share this with my financial planner, who strongly warned me not to deal with Wells Fargo. I wish I had listened.

    31 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 14, 2020

    I have been paying my mortgage now for 13 years (156 on time payments) even during this economically difficult time. I contacted WF to get my mortgage insurance fees removed. I sent 2 email to to different people and left a voice message for one of them. You would think they would respond and address your concerns. NOPE! 2 weeks in there is no response.

    My original mortgage (2007) had an interest rate of 6.25%. In 2012, it was HARed to 4.5%. At that time they assumed a lower value of my property than it as worth. The effect was an interest higher than what I thought I would otherwise qualify for. The new loan was for another 30 year fixed (I had assumed it would be for the 25 remaining years, unfortunately I realized this after the fact). Now I am told I have to reach a 78% loan balance before I qualify to have the MI removed. Based on the value of of my property right now, I do qualify for the removal of the MI, but guess what, they appoint someone to come eventuate the home value. Needless to say the estimator represents the interests of the bank and thus likely to value if lower. If 13 years of on-time payments is not enough to convince the lender that the borrower is a low risk borrower, then I do not know what will: hence my conclusion that these may be predatory practices.

    7 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 6, 2020

    I have been with Wells Fargo for almost 20 years. Like others, I am trying to refinance the loan I have held with them. I have a permanent job, excellent credit (over 800), excellent payment history and am just seeking a refinance. Like many others there have been several delays and adding the need for additional documents- some that are random and are not connected to my home or not connected to a refinance. They have also changed pricing. They have run my credit report FOUR times and now ask for a letter explaining why I have so many credit inquiries on my report (all from them!!!). Every time that I submit documentation they ask for more, repeat submissions or documents I cannot provide because it's not connected to my property or it's an error that they have created.

    Getting a lower interest rate means they will lose, and they don't want that so they have spent the last two months creating errors in my loan process with additional delays. While I am angry and frustrated, I now see that this is their norm. They are intentionally harassing customers to keep them from getting lower rates. I will still file a complaint against them, and I hope enough of us will be the catalyst for another government investigation. I will never recommend them. I will never do business with them again. I will apply to another bank for my refinance.

    28 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 29, 2020

    Wells Fargo failed to complete my refinance in time. I had filed 3 formal complaints throughout the process due to delays. Initially I had a rep that lied to me about the process, who ended up getting fired, for internal reasons unknown to me. After getting a new rep, I was asked the same questions or for the same information repeatedly each time a few more weeks went by. I provided everything that was asked to me promptly and immediately. But it became excuse after excuse, extremely frustrating, and eventually resulted in missed deadlines.

    At one point they wanted to have an appraiser look at the unit during the height of covid, but fortunately the decision for desktop appraisals happened soon after. After about 4 months in, I was asked to pay down the loan on a simple refinance already with them, which I said ok to, as long as it got things past the finish line. But none the less they still failed to complete it in time, and said they needed to pull my credit again, to no fault of my own.

    Months of frustrations aside, this would have had a negative impact on my credit, and a cascading effect. This was not fair to me. The complaint department was rude and told me it was my fault, providing no rhyme or reason, just that's what they decided. They also provided no alternative solution, or at the very least a reimbursement of my appraisal or credit report fees. And told and me that there was no one further I could escalate this to. I also confirmed verbally over the recorded line that they were only treating me this way. I took that as a form of discrimination. And at this point I also considered this to be FRAUD and THEFT. Perhaps because they did not want to honor my locked in rate, I do not know, since it was just a small refinance.

    I spoke with other teams at wells fargo, explained the situation end to end, confirmed my dissatisfaction, validated my mistreatment, and asked for help and suggestions. I was given the team's supervisor, who I attempted to contact several dozen times and left many voicemails. My calls was never returned. I later received a notice in the mail canceling my loan, even though through written correspondence I had no desire to, nor did I give consent. This was an unbelievably disrespectful, unethical, fraudulent, and unprofessional experience. I hope this helps someone make the decision to go with another lender and avoid this.

    18 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 13, 2020

    I am unable to get online access. No matter how many hours I take to wait on hold or talk to someone, I get disconnected many times and have to wait hours again. I have no online access, so I can't see what my mortgage situation looks like. I sent a check to add to my escrow. but I don't think it was applied right. Again, I can't talk to anyone to fix that nor can I see online what happened. Every complaint I can make is either through their online system or by phone. I have no remedy to fix this. They bought my mortgage, so I had no choice but to deal with them. I am thinking of refinancing just to get away from them.

    8 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 23, 2020

    Stay away from them. First thing you need to know is you will deal with at least 4 different people maybe 5. First person - I will call the "salesman". Runs your credit. Tells you how wonderful everything is going to be. Second person I will call admin, if you get to this step you immediately get a list of about 10 things to do or documents to submit. OK... It's a mortgage right? Going to take some work. Moved our expected close date up so we had to switch lawyers ($). Two weeks before close I asked "do you have everything you need, haven't heard from you guys in a while?" Answer "Yes, everything is in order". Then you meet the Underwriter that works on your case based on close date and that added 20 documents or "To Do's" to the list.

    First close date pushed back... Remember having to change lawyers? Money down the drain. Then you meet the "closing agent" who after reviewing paperwork decides another 5 documents are required. Then it gets to the "closer", not sure the difference between closing agent and closer, but there you have the bureaucracy at play here in a single sentence. Anyway the closer also needs a couple of things and closing date gets moved back another week.

    Finally (?) get a call "congratulations, your closing is approved" and a date is set. Think you are done? Nope, just got a request for another document to be uploaded and 3.5 days away from closing I think we will be moving it back again. Starting to think that they give you a great rate lock to hook you then delay as much as possible to pass the deadline. Waiting for the call stating "the rate expired but we would be happy give you this other rate..." Coupled with the unethical operations in 2017 I would say don't follow me into the quicksand that is Wells Fargo. Bought and sold 4 houses now and by far the most excruciating company to deal with. I do not exaggerate when I say a week ago I had to deal with the DMV and Wells Fargo (during Covid) and the DMV was by far and away the more pleasant experience.

    44 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 19, 2020

    We applied for a investment loan from Wells Fargo and have had nothing but trouble with them. The lack of communication, along with their ridiculous qualification requirements, really set things off on the wrong foot. It was always imperative that they have our information by a set time and date but when we needed clarification or had questions it could be days before we heard from them. We felt as though we were in a circus jumping through hoops for them. The nail in the coffin was that a week ahead of our closing date we were informed they had not done the home appraisal. Are you kidding me? We were forced to push back our closing an extra week and a half.

    Then to top that off, after not hearing from them they write us to say that once they find an appraiser, the appraiser would need to be vetted and that would take up to 3 weeks. Blood boiling now! The incompetence, lack of communication and the prolonged, never ending excuses and delays, nearly cost us an outstanding investment opportunity. We promptly canceled our application and requested our money back for the application fees and appraisal fees. We were able to acquire a loan Locally to salvage the deal. Still waiting on a reply from Wells Fargo about our refund.

    15 people found this review helpful
    Rated with 2 stars
    Verified Reviewer
    Original review: June 17, 2020

    My wife got laid off and my overtime was cut due to the covid19. I asked about payment deferral on my mortgage and it was granted. What I wasn't informed of is two months later they now want the deferred payments made in the next two weeks. Was not offered any payment options or anything, just a email that this is what it due. My ot. is still gone and it's still difficult to make normal payments much less make up 2600$ in payments in two weeks. We are looking into refinancing now due to this.

    10 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: June 11, 2020

    We had a home mortgage with Wells Fargo for over 10 years and we sold our property and paid off our loan. We chose Wells Fargo for our next home purchase in FL. Big mistake. My husband is a government employee and stationed in MD and Wells Fargo said because he would not be living in the new home all the time it had to be called a 2nd home loan even though we do not own a 1st home. They changed the loan amount on 3 days before closing and change the loan from primary residence to 2nd home. When I asked the lender why would they do that and how would we prepare our year end taxes, he said, "Just call it your primary on your taxes." Telling us to lie on our taxes and suggest a loan classified as a second when it is not, is very dishonest. I would run from any loan mortgage with Wells Fargo!!!!

    28 people found this review helpful
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    Wells Fargo Mortgage Company Information

    Company Name:
    Wells Fargo
    Year Founded:
    1852
    Address:
    420 Montgomery Street
    City:
    San Francisco
    State/Province:
    CA
    Postal Code:
    94104
    Country:
    United States
    Website:
    www.wellsfargo.com