Consumer complaint received 2015-06-03
Company: WELLS FARGO & COMPANY
State: NE
Product: Mortgage
Sub-product: VA mortgage
Issue: Credit decision / Underwriting

Complaint:
We were pre-approved for a VA mortgage by Wells Fargo on XX/XX/XXXX. We were told by home mortgage consultant XXXX XXXX that we would be able to escrow repair funds so long as we provided 150 % of the estimated repair costs, as she stated this information was furnished by an " underwriter supervisor ''. The VA does allow this according to a new policy issued XX/XX/XXXX ( VA XXXX XXXX, VA Appraisal Requirements on Foreclosed Properties ), as the VA confirmed for us XXXX. So, we sold our current house and spent XXXX XXXX on appraisals and such pursuing our new house believing this to be true. Once this was all complete, the mortgage processor, XXXX XXXX, denied our application and told us they do not allow for repair escrows. After a long conversation they acknowledged that the VA allows it, but that Wells Fargo does not, despite the fact that they told us otherwise before we decided to do anything. We spoke to XXXX XXXX again and tried switching to a XXXX loan, which inherently includes repair escrows, but she denied that they offer these sorts of loans, at all. 
We are a family that includes a XXXX vet and XXXX small children. We are about to become homeless because of the actions taken by Wells Fargo. The house we found was only {$60000.00}, with an appraised value of {$75000.00}, which we chose for several reasons. This is a HUD home with very specific characteristics that we absolutely need given our special circumstances. The house has been inspected XXXX now, and we can show we have the funds to repair it, but HUD has a XXXX day deadline to close the deal, and that deadline is XX/XX/XXXX. In order to extend that deadline we need proof that closing is imminent, and we also need to pay a fine which we can not afford. As a result of the money we 've spent pursuing it, we can not afford to go through the application process again. Now that we 've already sold our current home, we have nowhere else to go, and will soon be completely homeless. 
This is in addition to other errors we experienced. For example, they were completely incapable of changing our online log-in information. After talking to over XXXX people across the organization over a period of XXXX days, they still had no idea how to reset the information, so we did everything via USPS. The resetting of log-in information is among the most basic of IT tasks, yet no one in the organization had the slightest clue as to how to do it. 
In addition, when they ran our credit report they had incorrect information. The information they received came from Wells Fargo in some way, because their reporting company, XXXX, had the correct information, which I learned when I contacted them directly. I also provided XXXX XXXX with the correct information directly from the lender, as well as from XXXX, yet he said it was n't good enough, and insisted that I had debt which did not exist. 
We have since been in contact with customer service manager XXXX XXXX, who has failed to accomplish anything. Despite promise after promise of exploring our case, we have seen no tangible progress - only delays. I have even tried writing the board of directors with no success. 
I have names, dates, and documentation of everything which has occurred.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation