Consumer complaint received 2015-12-23
Company: WELLS FARGO & COMPANY
State: AL
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Application, originator, mortgage broker

Complaint:
Re : Home Equity ( Wells Fargo XXXX I have been a mortgage customer with Wells Fargo since XX/XX/XXXX. During those years, I have never missed a payment and have always paid on time. After years of residing in my home, I applied for a home equity line of credit on two occasions, first on XX/XX/XXXX and again on XX/XX/XXXX. During the XX/XX/XXXX application process, I briefly worked with XXXX XXXX ( XXXX ID : XXXX ; at the XXXX XXXX location in XXXX, AL ). After XXXX XXXX reviewed my credit, my credit score was XXXX ; however, there was incorrect student loan payments listed on the paperwork she reviewed. Therefore, the next day, I attached the correct student loan payments in an email to XXXX XXXX and left several voice messages to follow up with me. I never received any follow-up calls nor emails from XXXX XXXX. On XX/XX/XXXX, I received a letter from Wells Fargo stating that my application had been denied due to " Income insufficient for existing debt ''. The results could have been different if XXXX XXXX would have submitted the correct payments instead of giving up on my application because of the initial results. 
On XX/XX/XXXX, I decided to try the process again at another Wells Fargo Branch and this time worked with XXXX XXXX ( XXXX ID : XXXX ; at the XXXX XXXX location in XXXX, AL ). XXXX XXXX was outstanding at obtaining the correct paperwork from me to correct the student loan payments that were initially incorrect during the first application process. I provided documentation of correct monthly payments, which significantly decreased my debt to income ratio. Any information and documentation that was requested from me, was promptly given to Wells Fargo. Once I supplied XXXX XXXX with the correct paperwork, the problem started with the underwriting team. 
After a few days, I was assigned a Home Equity Specialist, XXXX XXXX ( XXXX ID : # XXXX ). XXXX XXXX 's initial contact with me was on XX/XX/XXXX via voice message. At the time of his call, I was in a work conference ; however, I returned his call within that same hour. In spite of this, XXXX XXXX called my banker and threatened to take my application away because I refused to get in contact with him, which was not true. However, I called him numerous of times after his call and even left XXXX voice messages. After several attempts, I called the number back and asked to speak with any specialist that could assist me. I was connected with a XXXX XXXX ( XXXX # XXXX ) who was of great assistance and answered any questions that I asked of her. XXXX and I discussed possible dates that different steps of the process may be completed and those dates were documented on " yourLoanTracker ''. After a few days, XXXX XXXX deleted those dates. 
XXXX XXXX and I actually communicated via phone on XXXX. During this conversation, I asked XXXX XXXX questions about property rights and XXXX XXXX told me that he would find out more information for me and will get back with me. Instead, I was informed that XXXX XXXX canceled my application, documenting that I was going through a divorce. I never advised him to close my application ; he was only supposed to be finding the answers to the questions that I asked of him regarding rights to my property. After this situation was brought to management 's attention, they denied my application citing that during the `` drive by appraisal '', my home was not worth anything and that I did not have enough equity to pull from the home, which is definitely not true. I was told that I could fight this and get another appraisal ; however, after all that I had gone through with Wells Fargo, I decided it was not worth any additional efforts with this company. 
I have written to their Home Equity compliant address ; however, I have not received any response from Wells Fargo.

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