Consumer complaint received 2017-08-31
Company: WELLS FARGO & COMPANY
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
1. On XXXX/XXXX/XXXX, we phoned and texted XXXX XXXX  XXXX XXXX XXXX ( XXXX XXXX XXXX ), TREC License No. XXXX, XXXX XXXX XXXX XXXX, to schedule an appointment we contacted, due to a referral from a relative. The same day, she sent us an email with a list of properties and confirming our appointment. 
2. On XXXX/XXXX/XXXX, we met XXXX XXXX. We informed her about the kind of property we were looking for, that our credit XXXX had pre-qualified us up to {$300000.00}, that we had funds ( sale of our property at XXXX, XXXX, ), our employment, income, debt obligations etc. We visited around 5 properties and liked the one located at XXXX XXXX XXXX, XXXX TX XXXX. Agent XXXX promised to make an offer and advised us that WE SHOULDNT BE APPLYING FOR A LOAN WITH OUR CREDIT UNION. SHE SAID THAT WE WOULD GET THE LOAN FAST IF WE USED THE SERVICES OF HIS SON XXXX XXXX AT WELLS FARGO ( THE LOAN OFFICER ). 
3. On XXXX/XXXX/XXXX, we met XXXX XXXX at Wells Fargo located at XXXX XXXX XXXX XXXX, TX, XXXX ; we had a long conversation where we provided the whole picture regarding our familys finances. We informed the Loan Officer that XXXX was a permanent employee at the IRS ; and XXXX was a seasonal employee with the IRS and had a part-time job  with XXXX XXXX XXXX The Loan Officer asked us to lift the credit freezes placed on our credit reports with XXXX  and requested more information ( pay stubs, XXXX, copy of tax returns, bank statements, etc. ) The same day, at night, the Loan Officer emailed us a pre-approval letter. 
4. On XXXX/XXXX/XXXX, XXXX XXXX made us sign a XXXX XXXX XXXX ( Resale ), and additional documents. XXXX XXXX was in permanent coordination with her son XXXX XXXX ( THE LOAN OFFICER ) pertaining our mortgage loan with Wells Fargo. While the mortgage loan was being processed, we paid ( under constant pressure from XXXX  XXXX and her son ) for Upfront Fees of Mortgage Application, home inspection ( {$300.00} ), termite inspection ( {$92.00} ), appraisal ( {$520.00} ), credit report ( {$16.00} ), and Homebuyer Education Class class XXXX {$75.00} ). 
5. The Loan Officer requested a number of documents, made us lift freezes from our credit reports ( {$200.00} XXXX, tax documents, bank statements, etc. We were contacte about hundreds times by phone, e-mail, text messages, etc. The Loan Officer made us believe that our loan was about to be approved. 
6. On XXXX/XXXX/XXXX, the property inspection took place. The inspector determined that the house had significant issues that would be costly to repair, so we forwarded entire report to XXXX XXXX and requested an Executed Amendment ) ; however, she acted against our interests, because, despite we requested a very detailed list of repairs needed in the house ), she prepared a very poorly worded Amendment. In the end, due to XXXX XXXX actions, we lost {$2200.00} Earnest Money. We are complaining against XXXX XXXX before Texas Realtors regulators. 

7. On XXXX/XXXX/XXXX, XXXX XXXX notified us that we had been turned down by Wells due to XXXX XXXX being a part time employee. We reminded XXXX XXXX that XXXX is a seasonal employee and has an additional part-time job. XXXX said that it would be better if we apply for a loan with a loan broker, for they have more products to offer. Next, she referred us to a private Mortgage Broker who also denied our Mortgage Loan. 
8. During the whole time we were dealing with XXXX XXXX, the Loan Officer contacted us many times via e-mail and text messages. The Loan officer ( himself or thru his mother ) made us believe that paying for upfront fees, home inspection ( {$300.00} ), termite inspection ( {$92.00} ), appraisal ( {$520.00} ), credit report ( {$16.00} ), and Homebuyer Education Class ( {$75.00} ) was necessary for us to get the loan itself and a better interest rate/ term and conditions with Wells Fargo XXXX 
9. As you can see, Wells Fargo has trained and ordered its Loan Officers to get from prospective Mortgage Loan clients as much money as they can. Wells Fargo made us spend our hard- earned money in all the items detailed above, just to make a profit from commissions ( appraiser, inspectors, realtor, and homebuyer education company are related to Wells Fargo ). 
10. Wells Fargo Loan officer acted unprofessionally and kept us uninformed about the loan process. The main interest of the Loan officer was to make us spend money in the items above detailed. 
Please review copies of e-mails, transcripts of text messages to/from Loan Officer ( green ink are his texts ),  and other exhibits from Mortgage application.

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