This is the most rediculous run around I have ever experienced. No one there knows what is going on. I have been in laon mitigation review since Feb.o9 andhave not got past square onewith them . Nothing but the run around and they request the same paperwork over and over, You can never speak to the same person you have to go over your situation over every time you call.

My husband and I decided to finance our new home with Wells Fargo because we had a positive experience with a refinance in the past. BIG MISTAKE!

We were set to close on our new home on July 15th with an out of state move to Washington. We have an AWESOME real estate agent that helped keep the loan on track. Both the agent and I confirmed with Wells Fargo a week before closing that everything was on track, which they stated it was. We provided all documents quickly and should have had no problems making the closing date.

The closing date came and went and we could not get an answer as to why. Suddenly, nobody in the Wells Fargo branch could answer their phone or emails. Between my husband, agent and I we left over 50 messages that were never returned. We had no clue what was happening for over 48 hours (past the closing date). We later found out they dropped the ball after verifying employment and our loan sat in limbo for 3 days. We have still not closed on the house because we needed documents overnighted on a Friday which were actually sent on Monday.

My new job is in jeopardy because I spent too much time my first week on the phone trying to get an update from WF. Additionally, I am in a hotel with my 2 children and have to board my dogs for each day the closing has been delayed costing me hundreds of dollars. The worst part is that nobody at Wells Fargo will even answer or return my calls. Not the agent, his boss, her boss or anyone at WF. We have been professional but they still refuse to communicate with their CUSTOMER. Not one person there cares that they have a homeless family due to their negligence. We are very worried the seller is going to pull the plug on the contract tomorrow.

Advice to ANYONE looking to get a loan and close when expected, DO NOT go with Wells Fargo.

April 25, Saturday morning at 11am, Wells Fargo loan sales manager, Cristian Correa, called me for my loan refinance. WFHM is my current home mortgage lender. We talked on the phone for an hour. He asked mywife and my personal informations. Then, he ask me to running my credit report. It was done through e-mail he sent me for asking my authorize. Few minutes later, he told me my wife and my credit are excellent. The same day, he sent me an e-mail and asked for the following documents.
1. Most recent pay stubs covering last 30 days.
2. Complete tax returns for 2007 & 2008.
3. Last 2 month’s bank statements (all pages) of all checking, saving, investment and retirement accounts held at institutions other than Wells Fargo.
4. Current Homeowner’s insurance (Fire and Hazard) declarations page.
5. Copy of current 2nd mortgage statement.

April 29, he sent me Disclosure Booklet.

May 2, he sent me another e-mail and request for the following documents I had not sent to him.
#1- two months of my bank statements (all pages).
#2- My company's paystub.
#3- a copy of my current Homeowners Insurance policy
#4- a copy of my Bank of America 2nd mortgage bill

May 4, the appraiser came to my house for appraisal.

May 6, I sent him e-mail to reply his May 2 e-mail. The following is the mail I sent.
Cris,
Attached are support documents for Home owner insurance policy, 2nd mortgage (a home equity line) statement, bank checking account last two months statements, my compamy's return check for my April, 2009 pay, and those documents that need me and my wife to sign. The only thing I still missing is my bank time deposit statement. Do you need the time deposit account copy?
Let's set the closing date to the last day of interest rate locking date. That is end of June.
Call me if you have any questions.
Andrew

May 12, Cris sent me e-mail to request the last two documents. This is the e-mail he said.
Andrew,
There are few things that need to be sent in by tomorrow 5/13:
1) Please re-fax the disclosures again (the copies that you sent can't be read- your signatures are faded). Please also date them.
2) Bank time deposit statements ( 2 months worth - all pages).

May 13, First American Title Co. sent me an open escrow document.

May 14, My home equity line bank freezed my credit line. I found it few days later when I went online banking to transfer fund from my home equity line to my checking account.

May 14, I replied Cris e-mail as following.
Cris,
Attached are disclosures and BofA time deposits.
Let me know if there are any others documents needs.
If we process this loan now when will it be closed? My wife will be out of state from May 30 to June 22. So, either close the escrow before May 30 or after June 22.
Let me know the processing status.

The same day he replied my e-mail.
Hi Andrew,
Thank you for the email.
Your loan is scheduled to close 6/24/09. So that would mean we would close until after your wife came back into town.
Thank you,
cris

From May 14 to June 28, I have not received any mail or e-mail regarding the loan.

June 27, I called escrow company and today for the status of loan process. There is no answer.

June 29, I called escrow company again they told me they didn't receive loan documents from Wells Fargo. Then I call Cris. You know it always goes to answering mechine for leaving message. Couple hours later he called me. The answer is only few words, "the loan was disapproved". After I insisted for a reason. He told me my income was not qualified. He told me that he sent me a notice. I told him I have never received any letter from Wells Fargo since May 14. Then I asked him to send via e-mail for a copy of the appraisal and a copy of the letter he sent me by mail before. Few minutes later he sent me an e-mail as follow.
Hello Andrew,
Here is the appraisal that you paid for. Please keep it for your records:
As a recap of our conversation today, your loan was not approved. The decline reason is: Income insufficient for amount of credit requested.

June 30, I replied his e-mail.
Cris,
If it is because of my income is too low, you should disapprove before the loan goes into escrow. And you suppose not have appraiser to do appraisal. For the appraisal Wells Fargo charged me $481.00 on April 28. And Wells Fargo aslo charged me another $14.00 on the same day. I am current Wells Fargo's customer. Each month I paid $1, 494 for the loan payment, which is automatically charged from my bank checking account. Never late. I can't accept the reason for "Income insufficient for amount of credit requested" after 2 months of loan processing.

July 1, in the morning, I sent an e-mail to Cris as follow.
Cris,
I would like to make an appointment with face to face to understand the whole process of my loan. I will also call you to make sure that you receive this mail.
Andrew

That aftrnoon he replied my e-mail.

Hi Andrew,
I will call you to discuss again. Unfortunately there is nothing I can do about your turndown. I worked with the underwriter to look at all the options.
Thank you for understanding.
cris

July 2, I replied his e-mail.
I want to talk to you face to face. Please make an appointment.

July 4, I sent him another e-mail.
Cris,
I haven't got your call for discussing. Do you think I will just let it go for been charged 495.00 appraisal and credit report fee for nothing? And the interest rate is higher now. I weast 2 months. Put yourself on my shoes, please. You told me you sent me a notice for disapproval the loan. Please e-mail a copy of the notice to me.
Andrew

This is the last communication between me and Cristian, a Wells Fargo home mortgage sales manager on La Habra. No copy of disapproval letter sent to me. No answer for the responsibility of appraisal fee.

July 7, I talk to escrow company. They sent me an e-mail.

Hi Andrew! According to our records we still show the your transaction is still open and we are pending receipt from Wells Fargo Bank about what the next step is going to be. Please contact you Loan Officer for a more detailed status of your refinance. Thank you!

July 8, escrow company sent me another e-mail. That was an e-mail between escrow officer and Cris, the Wells Fargo loan sales manager.

Please see below, escrow is cancelled.

Hello,
Yes, this file is to be cancelled.
Thank you,
cris

I am still searching for the reason why Wells Fargo disapproved my loan apply. I have a bad feeling. Is that because of the interest rate they locked for me on May 14 is so low and it suddently jumped up around 0.75% three weeks later? In the mean time, I post this information to alert you. Be careful for Wells Fargo's loan representative. And I also need your information for which government department can I send official compliant to. I will fight for justice.

Andrew

My husband and I were pre-approved for a conventional mortgage loan three weeks ago. I have just graduated with my PhD, and am starting a post-doc fellowship position that will last for 2 years. I asked whether the fact that I had just graduated and started a new job would present any concerns about my "loan worthiness" and was told not to worry. We thought that underwriting would be no problem, due to the pre-approval, our respective credit scores of 760 and 810, the fact that we have zero debt, can bring 20% down payment, and because our assets are greater than the purchase price of the home. We entered into a contract on a house based on assurances from our loan officer that we were a "slam dunk" application and should anticipate no issues with underwriting- she was 100% sure we'd get our loan. We proceeded with the home inspection and the appraisal, and all other aspects of the contract fell into place. We were looking forward to our closing date and taking possession of the home.

The application went to underwriting-- and was denied. Why was it denied? It seems that the income I receive does not count towards qualification, because it doesn't show "evidence of continuance" for a period of at least three years. This is absurd. I have a grant-funded guaranteed position for the next two years, and that income cannot count toward my application. Moreover, our assets are greater than the requested loan amount. Because of this, I expected to be viewed as a low-risk loan applicant. If we wanted to, we could just outright buy the house, but I'd rather use my assets to continue building toward retirement. So thanks Wells Fargo. Now I've either wasted $1200 on appraisals, inspections, etc. on a house I can't get a loan for- or I have to liquidate all my assets so I can buy it outright.

On April 7, 2009 I received a letter by certified mail from Wells Fargo Home Mortgage, ( Address on letter - WELLS FARGO HOME MORTGAGE - P.O. BOX 9039 TEMECULA, CA 92589-9039.) We are aware that we were a month behind on our Mortgage ( or should I say partial payment behind.) The letter stated that we were in default and that if we did not pay the total amount listed in the letter by May 5, 2009 they will accelerate the loan, and start the foreclosure process. The amount listed was $2, 251.39 this amount broken down was -- $341.00 ( the remainder of the payment for March - $600.00 had already been paid) $907.54 for the month of April ( stated due WITHIN the next 30 days) and $907.53 ( for the month of MAY - NOT DUE YET!) $95.00 tacked on for ("OTHER CHARGES" - not disclosed what the charges are for - just "OTHER CHARGES." best guess this is a fee for their supposed drive by inspection of the property, nobody ever comes to the door, or leaves anything saying they were here, or drove by, if you call customer service, and confront them about it they just say they "DROVE BY" and tack on a fee for it.) We had already paid the $600.00 of our $907.53 payment for March, on April 3, 2009 - due too economy and decreased hours at work. this payment was immediately taken by Wells Fargo Home Mtg. and but NOT put towards the payment of the mortgage, but instead set aside in a "SUSPENSE ACCOUNT." on April 10, 2009 we paid the remainder of the March 2009 payment, in the amount of $342.00 ( this included remainder due and late fee, The money was drawn from our checking account by a teller at a branch WF Bank, and the payment made to the Mortgage account immediately by the same teller.) Wells Fargo Home Mtg. again accepted this payment as well, but immediately put into the same SUSPENSE ACCOUNT - and DID NOT! apply the total amount to our mortgage for payment for the month of March which would have only made us owing for the Month of April which is now currently due, and will be paid within the month. Instead they are putting the payment in the "SUSPENSE ACCOUNT" - NOT APPLYING it to the payment, and stating that we are still in default and if the total amount is not paid balance being $1, 309.39 by May 5, 2009. They will accelerate the note and start foreclosure process. I find it hard to believe they can intentionally hold these funds not apply them to the mortgage, and then serve you with foreclosure papers for default or nonpayment. Something seriously needs to be done about this company, . I don't believe they are there for the consumer, but only for themselves, and don't care who they step on or what they do. I truthfully feel there needs to be a class action lawsuit against this company for deceitful practices, so that the 1000's of others like myself and everyone on here, that have the same problem with Wells Fargo Home Mortgage can see something done about it, and stop them. I feel Wells Fargo Home Mortgage calls in excess as well when they call my home, they call 3, 4, 5, 6 times a day, call during hours that I am at work, NOBODY IS HERE! and DO NOT! leave a message. 1 phone call is plenty, and LEAVE A MESSAGE for pete sakes!