Consumer complaint received 2016-10-14
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Other mortgage
Issue: Application, originator, mortgage broker

Complaint:
XXXX I took mortgage loan with Wells Fargo bank for my building where my accounting office is located the rate is 8.27 %. On XXXX XXXX, XXXX, I requested Wells Fargo Bank to refinance my property no cash out just to lower the interest. The denied the loan claiming that my credit score was XXXX and that I have cash problems. They mailed me XXXX different letters like I was applying for XXXX different loans. Here I am attaching the letters. They also claimed that my credit score was XXXX as of XXXX/XXXX/XXXX my credit score was excellent XXXX, here is a copy. 
I think that they denied my request to refinance to lower my interest because they knew that I have to stay for the term of the loan at the higher rate, they had no incentive to lower my rate. This action is ethically and morally incorrect. I HAVE NEVER BEEN, NOT EVEN ONE DAY LATE WITH MY MORTGAGE PAYMENTS. 
My mortgage is going to mature on XXXX XXXX, XXXX it has been 10 years that I have been paying the mortgage without been late not even one day. 
On XXXX/XXXX/XXXX I received a call from XXXX XXXX XXXX asking me if I want to refinance my building with them, she offered me a rate of 4.96 % loan payment {$1900.00}, I pay now {$2300.00} my payment will be lowered by {$390.00} a month for XXXX or 5.26 % XXXX with a payment of {$2300.00} increasing {$33.00} a month. I accepted the XXXX and filled the application with her, and I provided all the information that she requested. 
On XXXX XXXX, XXXX I received a phone call. I do not remember the name of the person, but I got a denial letter signed by XXXX XXXX. The person that called told me that my loan was not approved for the same reason as on XXXX before, no cash flow and my credit score XXXX, but he said do not worry I am sending your papers to another department. they will help you there because they have a different way of processing loans in that department. 
On XXXX XXXX, XXXX, I received a call from XXXX XXXX telling not to worry that he will help that we have time that he can approve me in 45 days that we have time the loan will not mature until XXXX/XXXX/XXXX and that if he needed more time he will be extended for another 90 days but that the rate will be at 6.14 % fix but he will figure out the loan payment in a way that my payment will be the same and that he has noticed that I have never been behind with my payment, that it is great. He told me to ignore the previous denial letter mailed to me on XXXX XXXX, XXXX that he will help me. He increased 1.18 % more than I was previously quoted by XXXX. 
Here is the denial letter dated XXXX XXXX and XXXX of XXXX and my credit score on that day was XXXX excellent. 
I honestly think that Wells Fargo Bank is acting in bad faith, and that they are trying to take advantage of me, how is it possible that XXXX department denies my loan at a lower rate, and another will approve it at a higher rate? How is it possible that all I want to refinance the loan with a 8.27 % for ten years and now that I can get a lower interest they are trying to take advantage of me? 

I am here asking for a full investigation on Wells Fargo predatory and unethical business practice. 
Please help me. For 10 years I have never been late not even one day on this loan. 
Time is of the essence for my loan. 
XXXX XXXX

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