Consumer complaint received 2017-01-20
Company: WELLS FARGO & COMPANY
State: TX
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Credit decision / Underwriting

Complaint:
ON XXXX XXXX XXXX WE CALLED WELLS FARGO MTG WHO CURERNTLY HOLDS OUR MTG TO REFINANCE AND GET SOME EQUITY WE HAVE AVAILABLE TO CONSOLIDATE SOME BILLS AND DO SOME HOME IMPROVEMENTS. I WAS DIRECTED TO A XXXX XXXX XXXX WHO WAS VERY SHORT WITH HIS EXPLANATIONS TO THE LOAN WE WERE REQUESTING AND STATED BEFORE WE APPLY FOR THE REFINANCE THAT WE NEEDED TO GET HIM DOCUMENTS BEFORE WE COULD APPLY -- LIKE OUR CHECK STUBS, BANK STATEMENTS FOR LAST TWO MONTHS AND OUR MORTGAGE STATEMENTS - I THOUGHT THAT WAS PRETTY PREMATURE SINCE WE HADNT EVEN DONE OUR APPLICATION YET - HE STATED IT WOULD TAKE 45 MINUTES TO DO OVER THE PHONE IF I WANTED TO I COULD APPLY ONLINE - I EXPLAINED TO HIM WHICH EVER WAY WAS FASTER I WOULD DO. HE CONTINUED TO STRESS TOSEND HIM THE DOCUMENTS TO HIM BEFORE WE TAKE THE APPLICATION. HE ALSO WANTED TO KNOW WHAT MY CREDIT SCORE WAS BEOFRE TAKING AND I WAS NOT SURE WHAT IT WAS I HAD GIVIEN HIM WHAT THE WEBSITE XXXX HAD GIVEN US AND HE AT THAT TIME STATED IT WAS IT WAS LOW. MY HUSBAND AND I CURRENTLY ONLY OWE XXXX ON OUR MORTGAGE WHO WAS FINANCED FOR LAST 15 YEARS WITH WELLSFARGO AT THAT TIME I FELT LIKE I WOULD OF BEEN TRATED BETTER AND WITH OPEN ARMS SINCE THEY HAD MY PAY HISTORY RIGHT IN FRONT OF THEM AND SAW THAT I WAS NEVER LATE. THAT WAS NOT THE CASE. I EXPLAINED TO XXXX XXXX THAT WE WANTED TO POSSIBLY CLOSE BEFORE THE END OF THE YEAR SO WE CAN USE FOR OUR TAX PURPOSES AND HE STATED OH NO IT WILL TAKE 60-75 DAYS TO CLOSE. WE CONTINUED IN HOPES THAT ALL WOULD BE DONE SOON. AS THE WEEKS WENT BY DOCUMENTS WERE ASKED OF ME ONLY WHEN I WOULD CALL TO XXXX TO SEE WHAT THE STAUS WAS ON OUR LOAN THERE WOULD BE WEEKS GO BY AND NO CONTACT FROM THEM. DURING THE PROCESS I DID ASK WHY IS THERE SUCH A LONG TIME IN BETWEEN PROCESS AND HE SAID ITS PROCESSORS THAT TAKE THE LONG TIME NOT HIM HE JUST GIVES THEM WHAT THEY ASK FOR. WE CONTINUE TO WAY AND STILL TO THIS DATE WE HAVE NOT RECEIVED CONFIRMATION THAT OUR LOAN HAS BEEN APPROVED. WHEN CONTINUED TO ASK IF OUR LOAN WAS APPROVED HE STATED THAT HE DIDNT KNOW ITS WITH THE UNDERWRITER AND THEY NEED TO HAVE ALL THE DOCUMENTS BEFORE THEY CAN GET AN APPROVAL. DOCUMENTS HAD BEEN ASKED OF ME MORE THAN ONCE AND GIVEN TO THEM MORE THAN ONCE. TO THIS DATE WHICH IS XXXX XXXX XXXX THEY STILL HAVEN NOT CALLED OUR JOBS TO VERIFY OUR EMPLOYMENT. I DONT BELIEVE THIS COMPANY HAD ANY INTENTIONS TO CLOSE OUR LOAN. I WAS NEVER TOLD TO COME TO THEIR LOCATION TO MEET THEM OR ANYTHING. I BELIEVE BECAUSE OUR NAME IS WHAT OUR NAME IS AND WE DONT HAVE TONS AND TONS OF MONEY THAT IT WAS PUT ON THE BACK BURNER AND NEVER OF ANY IMPORTANCE. I CALLED YESTERDAY TO SEE THE STATUS ONCE AGAIN AND THE PROCESSOR DIDNT HAVE ANYTHING TO TELL ME ONLY THAT HE GOT A RATE EXTENTION FOR ME AND THAT I SHOULD BE HAPPY FOR THAT. I EXPRESSED TO HIM WHY WOULD YOU NEED A RATE EXTENTION? IF WE WOULD OF CLOSED WHEN THE CLOSED WHOULD OF BEEN CLOSED WEEKS AGO THAT WOULD NEVER HAVE HAD TO BE DONE. I ASKED FOR CORPORATES NUMBER AND I CALLED THEM TO LET THEM KNOW WHAT WAS HAPPENING AND A XXXX XXXX CALLED ME BACK ONLY TO TELL ME HE WAS DRIVING AND THAT HE WOULD HAVE TO CONTACT ME ANOTHER DAY OR IF WE WANT TO CANCEL THE LOAN HE CAN GET THAT PROCESSED FOR US. I EXPRESSED TO HIM THAT HIS VERY BLAND ATTITUDE WAS NOT ACCEPTABLE. THEN HE CONTINUED TO ASK WHAT DID I WANT HIM TO DO. I THEN STATED TO HIM THAT I DIDNT WANT HIM TO DO ANYTHING AND THAT I WOULD HANDLE A DIFFERENT ROUTE. I THEN CALLED AGAIN TO THE XXXX NUMBER AND THEY SENT ME TO THE PRESIDENTS NUMBER AND ALL THEY COULD DO WAS TAKE MY NAME AND FILE A CASE AND WILL CONTACT ME WITHIN XXXX WEEKS. I WAS FLOORED ON HOW WELLS FAGO HANDLED THIS AFTER MANY YEARS OF PERFECT PAY WITH CARS -CC- AND MTG MY HUSBAND AND I JUST WAISTED 3 MONTHS AND NOTHING ACCOMPLISHED.

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