Wells Fargo
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Category: Business & Finances
Contact Information
Angola, Indiana, United States
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Wells Fargo Reviews
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Niko Okamoto
August 26, 2010
Refinancing Nightmare
My mother and I have a Wells Fargo mortgage on a house we bought over 4 years ago. Since all of our bank accounts have been at Wells Fargo for almost 10 years, as well as having excellent credit and sufficient income, we had no problem securing a mortgage back then. I decided it would be prudent to refinance when rates plummeted earlier this year. So, I initiated the process in February with the same person we used before. That's when the nightmare began. After paying them a $500 application fee, they kept asking for the same documents (tax returns, proof of passive income, utility bills, etc.) on a near monthly basis. Sometimes they'd ask for a new document or two and have another excuse for the delay. Rate locks came and went. After six months of being jerked around and driven crazy, I put an end to it. Wells Fargo isn't interested in lending -- only looking busy and trying to give the appearance of being a lender. I can't imagine how I'd feel if we'd really needed to refinance. The following is the final email exchange with Wells Fargo.
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Subject: Your loan
Date: July 21, 2010 10:27:45 AM PDT
Ramona, I know this loan has been conditioned to death. I just received the newest condition list. Please let me know how you want to proceed.
The following are conditions:
Need asset verifications. Bank statements all pages.
Most recent one month paystub for Ramona.
2008 & 2009 tax return for Yun all pages. We cannot get any response from the CPA at all.
Need the pension letter for Yun. I have the SSI but not the pension one.
These are the remaining conditions. Please let me know as soon as possible if you want to proceed. I know this process has been so long. I am so sorry I don't control what the underwriters keep asking for.
Sheryl DeLeon, Mortgage Sales Associate
Assistant to My Hoang and April Reichert Mortgage Wells Fargo Home Mortgage
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Sent: Wednesday, July 21, 2010 1:45 PM
To: DeLeon, Sheryl A.
Cc: Hoang, My N.
Subject: Re: Your loan
Dear Sheryl,
Wells Fargo has demonstrated that it is obviously not interested in offering us a refinance. Like a broken record, I'll say if this loan hadn't taken so long, we wouldn't have had to keep submitting the same documentation, although occasionally there'd be a new roadblock thrown in just to liven things up. To throw even more gas on the fire, yesterday I got a sales call from Donna Dalton of WFHM offering a 30yr, no closing cost loan @ 4.875.
Unfortunately I can see now that this process will never end. While I thought I was beyond frustrated before, this last request is truly the nail in the coffin. So Wells Fargo, you win. We give up. Here's how I want to proceed: my mother and I hereby cancel this refinance application and will be on the lookout for opportunities to sever ties with your bank. On the bright side, I'm glad Wells Fargo's arrogance and disgust at helping customers has been revealed to me. This was no way to treat your customers (who are also essentially investors).
I'm sorry it didn't work out. I know it isn't yours or My's fault at all. If by some miracle the application fee can be refunded, please credit the WF PMA account we have.
Sincerely,
Yun Moi & Ramona Okamoto
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Subject: RE: Your loan
Date: July 21, 2010 2:12:30 PM PDT
I knew that would be your reaction and I am so sorry, truly. I have tried to get this one done without having any thing more needed but I can't beat the system in place. I will have the money refunded back to the credit card we processed it with less the credit report fees we have been charged. Again I am sorry. This is not how I want the company I work for perceived. It is very disappointing. Thank you Ramona!!
Sheryl DeLeon
Mortgage Sales Associate
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Dawn Howell
August 25, 2010
Refunded transactions not getting refunded in any timely fashion
I ordered something online through a merchant and my card order was processed twice through paypal. The merchant seen this and asked me if it was intentional, I replied no. He refunded the amount to my card on the 18th. of August, as of today, the 25th, of August there is no credit listed on my account. I contacted the bank and they said I did not fill out a form. What? Please they also said that it would take upto 30 days! I hate credit cards and debit cards because what happens is the banks are using the 46.00 dollars of my hard earned cash for interest. Not fair. They don't pay me interest on keeping those funds do they? If Obama wants to overhaul something I say overhaul the credit card companies. This is rediculous. I had to rant. Just think of it, bansk large like WElls Fargo have millions of customers, so when they hold up the refunds they literally have millions of dollars they get interest off of. This blatent greedyness needs to STOP!.
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Yaman
August 25, 2010
Stay away
My wife and i took a auto loan out from wells fargo for $13.000 paid on the truck for 3 years. wife got cancer and we had no medical insurence so there for we could not make the truck payment, i told them to come get it or i could bring it to them. after they repode the truck and sold it at auction they came back and said i still owed them $10.000 figure that one out. trying to work with them is like talking to a brick wall. they can sue me i dont have anything anyways.
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Mimalee1
August 21, 2010
Shady Loan Practices
I am in the process of renovating my home. I am a teacher with not a lot of extra income. I took out a Home Projects Loan through Wells Fargo to purchase new energy efficient windows for my home. The loan was for $10, 000 which I used $7500 for the windows. I also had a credit line of $1500 for other purchases.
I have never paid late nor missed a payment on this loan. Regardless, for the past two months after my payment is processed, I receive a letter from Wells Fargo saying they have decreased my credit available to the amount due since my credit is not sufficient. I have an average credit score, and have run into financial hardship but have not missed payment on other bills. This action by Wells Fargo has changed my credit score because it looks like I have maximized my line of credit.
Has anybody else experienced this? Do they want to purposely put you into a hole you can't dig out of?
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Janet Singleton
August 17, 2010
RIP OFF
DON'T USE WF UNLESS YOU WANT TO GET SCREWED!
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RegretMyBankingDecision
August 11, 2010
***HORRIBLE BANK***
RECENTLY I ATTEMPTED TO WITHDRAW 300.00 OF MY HARDWORKING DOLLARS AND RECEIVED AN ERROR MESSAGE AT THE ATM ADV ME TO CONTACT MY BANK WELL I DID AND NOW WHAT... THEY CLAIM I OWE THEM 300.00 FOR CASH THAT WAS DISPENSED WHICH I ****DIDI NOT RECEIVE****WHEN ASKED TO PROVE THAT I TOOK THE CASH THEY CLAIMED MOST CUSTOMERS GET DISTRACTED BY THINGS AND FORGET TO GRAB CASH...LIKE I WOULD LEAVE 300.00 LAYING AROUND???? AND THIS COULD NOT BE PROVEN DUE TO "THEY DONT SHOW VIDEO ONLY PIXELS" OH BUT HOW CONVENIENT NO OVERDRAFT FEE...STUPID...CAN THEY DO THIS???
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validity
August 10, 2010
Overdraft Charges
I have a Wells Fargo COMPLETE ADVANTAGE(RM) checking & savings account. Completed an on-line transfer of $1000 from my savings to my checking account, since I wanted to cover a check I was writing & an on-line purchase at WalMart. My printer was non-functional at the time so I could not print out a copy of the transaction with its corresponding confirmation number.
Much to my surprise the transaction never occurred. I went to the bank asking why I did NOT have automatic overdraft protection. They said it was never set up & I had to $35 for each incident for a total of $70. So where is the Advantage of my Disadvantage account ?
To make matters worse I asked to set up the overdraft protection to find it still charges me $10 per day for a service, to use my own money, and was FREE at my other banks!
Who is the government protecting, its people or its CORRUPT banking system ?
Good-bye Wells Fargo & screw your customer business ethics !
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satx1952
August 9, 2010
401 K
I became unemployed in June of this year. After two weeks, I decided to cash in my 401K so that I would have money to live until I could find a job. I contacted Wells Fargo on July 13, 2010, instructed them to close my account and forward the money to me. (around $6, 000) They explained that it would take 2 business days for the transaction to be completed and that a check would be on the way on July 16, 2010. The check was being mailed from Minnesota.
I still had not received the check by July 22, 2010 and contacted Wells Fargo. They verified that the check was mailed to the correct address on July 16 and there was nothing they could do for 7 to 10 business days. I went to the Post Office to see if they were holding any mail for me and asked them what I could do to try and find the check. I called an 800 number and filed a tracking request with the Post Office.
On July 27, 2010 I again contacted Wells Fargo and asked to speak to a supervisor. I requested that they stop payment on the original check and reissue another one. I was told that a stop payment would take 2 business days to complete. I inquired about direct deposit to my bank here (Frost) and was told Wells Fargo did not do direct deposits to other banks. I asked about a wire transfer and received the same answer... they don't do those either. I asked if they could over night the check and they said yes, but it would cost me $50.00 through UPS. They do not use the post office’s priority or next day mail service unless I sent them the correct postage paid envelope. My only option was to wait for them to mail a new check through the U.S. Postal Service on July 30, 2010, wait another 7 to 10 business days and if I had not received it by then to call them back.
They would not tell me whether the original check had been returned by the Post Office or cleared their bank.
So here I am on August 9, 2010, almost a month after requesting MY money and I still haven't got it. I am on the verge of losing my vehicle, haven't been able to pay any bills for over a month and having my credit rating, that I worked for a year to improve, ruined!
Wells Fargo is not the least bit concerned or interested in my situation. I guess they figure that since I am no longer a customer they have no obligation to me. I could have driven to Minnesota and back twice by now plus have my money.
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PANFILO
August 7, 2010
FRAUD
ON THE THE 16TH JULY 2010 I MADE A NET PAY LOAN FOR $250.00 AND WITH INTEREST IT GOT UP AT $300.00. IT WAS DUE IN OCTBER 3RD WHEN MY DIRECT DEPOSIT COMES IN. WHEN NET PAY WHEN TO COLLECT SHE GOT A LETTER BACK SAYING MY BANK WAS FROZEN...THE NEXT DAY NET ADVANCE CALLED ME FURIOUS..SHE SAID WAS GOING TO RE ENTER THE LOAN AND ADD 1 $15.00.. I TOLD THET SHE COULD NOT DO THAT BECUASE MY BANK WAN NEVER FROZEN.. SHE STILL DID NOT BELIVE ME. I ASKED TO DO A 3 WAY CALL TO BANK JUST SO I CAN PROVE THST MY STORY WAS TRU...ONCE WE CONNNECTED NET PAY DID MOST OF THE TALKING.. THE TELLER RESPONSE WE NEVER SAID THAT..
THEN NET ADVANCE ASKED IF MY BANK ACCOUNT FROZEN HAD JUST NEARLY HAD DEPOSITIED $2000. IN THE BANK JUST PRIOI TO THAT..THATH IS WHEN THE BANK TELLER GOT PIST OFF AND QUTE" I HAVE TO " THIS IS NO JOKE FOR ME, NOT A JOKE NET PAID ADVANCED. AND THE LADY CALLED ME A LIAER TO MY FACE... I DON'T KONW HOW YOU ARE GOING TO TAKE CARE OF THIS. MY NEXT STEP ONCE CONSUMER PROTECTION IS GOING UP ANR RUNNING I'M DOING ANOTHER COMPLAINT.. AND I WIIL FIND EVERY COMPLAINT SITE FOR BANKS. AND I WILL COMPLAIN...AND BY THE WAY THE LADY IS BACKING ME UP ON EVERTHING FRON NET PAY ADVANCE..
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Lorenzo
August 5, 2010
Fraud alert
Los Angeles county issued a $3500. exempt hold/lein order on my bank account. Result: $100. legal fee. The instructions issued included: Withhold any any all assets exceeding $3500. in value. Deposits in financial institutions, including IRA's, SEP's, rents and on and on. If these funds include any monies from Social Security or Supplemental Security Income Please contact us immediately. For the last several years the only deposits made to my bank account is the direct deposit by SS. There are 2/3 debits outstanding. The bank freezes my account, pays the outstanding debits, credits my account with $25. overdraft fees.
The legal department (finally contacted, call waiting 1st 38min, 2nd 52min, 3rd 35min) is busy and after their acknowledgement of error advised me to contact WFB consumer help line for reversal of late fees ($25.), they didn't have the authority for such services. The over draft fees are wrong, the legal fees, I'll have to assume (the gov'ts are in a hurry for monies). They are WRONG. Unfortunately the economy doesn't accomodate retired carpenters and has no handy work to augment my income.
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