Consumer complaint received 2020-06-01
Company: WELLS FARGO & COMPANY
State: MD
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/2020 I completed the application to refinance with home with my current mortgage lender. During this time frame I was set up in a loan tracking database that alerted me when any additional information was needed. Going through the process I realized I have not received communication from anyone over the course of several weeks. I have reached out to my loan officer who was not responsive. I continued to follow the process on the loan tracker database. My application was approved and in post closing. After an additional few weeks with no contact with my loan officer I checked the tracker again and it stated not to submit any documents to contact a specific individual which I did several times via, e-mail, and voicemail and never received a phone call back. After making multiple failed attempts to get in contact with the individuals assigned to my file I called into customer service and was informed my loan application was closed due to failure to submit additional documentation. When I asked for which documents it was I then confirmed the document was uploaded into the system in XXXX. However, my loan application was closed out the first week of XXXX. 

After speaking with numerous individuals I made contact with the loan processor who stated she does see the documents uploaded into the system, and she wasn't aware they were in the file. Due to the deficiencies in Wells Fargo 's process my loan was closed in error. I inquired on having my application re-opened and they had informed me I will have to re-apply again. I am behooved on how they handled this situation. Although Wells Fargo was in error I am the one who suffers for the error. I ended up making my way over to the customer recovery group to where I feel as if Wells Fargo has committed a deceptive banking practice on me. I invested money to have my credit report pulled and the home appraisal done with the intent to settle on this loan. 

I have now been placed in a position to where I lose out on money because of a bank error. I expressed to the representative if they are unable to continue processing my loan, I would like a full refund of all revenue invested because they honestly took my money, and I never heard from anyone since. The resolution from the customer recovery group stated I would have to re-apply again. They will not refund me any of my money. With me have already investing into this process with Wells Fargo I considered re-applying. However, when I reached out to re-apply I was informed I would have to pay the fee 's all over again. I could not use my current documents, and although if I apply again they will not be approving any applications until XXXX. 

After speaking with several individuals within the Wells Fargo organization. I was informed loans are not to be closed out by a loan processor without prior approval from their direct supervisor or the loan officers supervisor. Along with this the loan processor stated she did receive my e-mails, and voicemails but did not bother to call me back because she thought someone else was handling my account. 
There have been several deficiencies identified with the lenders process. I am in disbelief on how they handled this situation.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief