Consumer complaint received 2017-09-08
Company: WELLS FARGO & COMPANY
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
1.OnXX/XX/XXXX, my husband XXXX XXXX XXXX phoned and texted XXXX XXXX XXXX XXXX XXXX ( AKA XXXX XXXX XXXX XXXX XXXX XXXX ) , XXXX License No. XXXX, ( Agent XXXX ), to schedule an appointment, due to a referral from my husbands sister-in-law, XXXX XXXX. The same day, she sent us an email with a list of properties and confirming our appointment. 2. On XXXX, we met Agent XXXX. We informed her about the kind of property we were looking for, that our credit Union had pre-qualified us up to {$300000.00}, that we had funds ( sale of our property at XXXX, HI, ), 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 XX/XX/XXXX, we met XXXX XXXX at Wells Fargo located at XXXX XXXX XXXX XXXX, TX, XXXX, had a long conversation and 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 The 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, W-2s, copy of tax returns, bank statements, etc. ) The  same day, at night, the Loan Officer emailed us a pre-approval letter. 4. On XX/XX/XXXX, Agent XXXX made us sign a XXXX XXXX XXXX ( XXXX ), and additional documents. Agent 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 Agent XXXX and her son ) for Upfront Fees of Mortgage Application ( {$540.00} ), home inspection ( {$300.00} ), termite inspection ( {$92.00} ), appraisal ( {$520.00} ), credit report ( {$16.00} ), and Homebuyer Education Class ( {$75.00} ). 5. The Loan Officer requested a number of documents, made us lift freezes from our credit reports ( {$200.00} ), tax documents, bank statements, etc. We were contacted 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 XX/XX/XXXX, the property inspection took place and was determined that the house had significant issues that would be costly to repair, so we forwarded entire report to Agent 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 Agent XXXX actions, we lost {$2200.00} XXXX XXXX. We are complaining against Agent XXXX before Texas Realtors regulators. 7. On XX/XX/XXXX, Agent XXXX notified us that we had been turned down by Wells due to me being a part time employee. We reminded Agent XXXX that I was a seasonal employee and have 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 Agent 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 ( XXXX ), 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 . 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. 11. When I directly contacted the loan officer and his mother, they yelled at us over the phone and sent us a very offensive e-mail ( please notice that se refers to her and her son as US, which proves that they were acting in coordination ). 12. I tried to resolve this issue with the Loan Officer and his mother thru my husbands sister-in-law many times : I requested the reimbursement of the earnest money plus all the money spent in upfront fees, inspections, appraisal, credit reports, homeowners class, etc ; but, instead of getting my money back, they, first, they offered to continue searching for other properties and make a discount from her future realtors commissions, and, second, falsely told my husbands sister-in-law that I had filed a lawsuit against them ( which I hadnt done ) and threatened to countersue me ; 13. The XXXX XXXX XXXX XXXX XXXX XXXX and Wells Fargo colluded to deceive me and my husband making us believe the the loan approval was imminent ( which was not true ) and to make us spend our money in several items just to make a profit and never rendered any result.

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