Consumer complaint received 2021-03-10
Company: WELLS FARGO & COMPANY
State: CO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
We applied for a refinance with Wells Fargo in XXXX XXXX. I am an existing customer for 5+ years and wanted to go to a 15 year term lower rate. I provided all of the documents WF requested and kept requested for two  months. WF also required that I closed my current HELOC loan with XXXX XXXX as part of the closing conditions and to honor the rate they were offering. I closed the account and provided multiple documents that the HELOC was in fact closed. WF set a closing date of XXXX. XXXX XXXX called me at XXXX on XXXX and said WF had " computer issues '' all day and they were not able to get the closing info to my title company and we needed to reschedule. We rescheduled to XX/XX/XXXX @ XXXX. On Friday XXXX XXXX received the following email from XXXX XXXX and I replied no problem. 

Hi XXXX, I wanted to give you a heads up that with your new closing date there is a minor change with the cash to close amount. The new cash to close due to you at closing is {$290.00}. The loan amount is {$420000.00}. 
Let me know if you have any questions. 
Thanks, XXXX XXXX Mortgage Loan Closer I P : XXXX ext. XXXX F : XXXX Wells Fargo Home Mortgage XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CO XXXX XXXX XXXX I then received the following email from On XXXX at XXXX XXXX ( less than 24 hours from closing ) from XXXX XXXX. 

Good Morning XXXX : We are trying to get your closing documents out this morning but it looks like we are going to need to update a couple of things that expired on XX/XX/XXXX. If you would please send these to me as soon as possible, I would appreciate it. 

Items needed : 1. Copy of XXXX bank statement ( all pages ) for XXXX XXXX account # XXXX XXXX. Copies of XXXX & XXXX bank statements ( all pages ) for XXXX XXXX account # XXXX 3. Updated XXXX XXXX XXXX statement to match the ending date of your XXXX bank statement for account # XXXX XXXX. Update Balance Sheet to match ending date of our XXXX bank statement for account # XXXX Im sorry we need to do this at the last minute but I do appreciate your help. 

Please let me know if you have any questions. 

XXXX XXXX XXXX Mortgage Loan Processor ( Safe ) NMLSR ID XXXX Sorry does not cut it. I emailed XXXX to contact the XXXX XXXX ( XXXX XXXX XXXX  ) NMLSR ID XXXX and have him call me. XXXX called me and advised that's the way it is and underwriting has to have this information or they would not close the loan. I asked how can that be? We had provided them all of the documentation regarding tax returns. XXXX said do you really want to give this rate up? No I didn't want to give the rate up but they blindsided me in the final hours and used there underwriting bullies as an excuse to not honor the closing. This was Bad faith all the way around or just a total lack of competence within all parties at WF to get on the same page. Clearly we were set to close and denied by WF.

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 explanation