Consumer complaint received 2017-06-21
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: WELLS FARGO & COMPANY (VA)

Myself and my wife are first-time home-buyers. Because we banked with Wells Fargo we selected them as our loan provider and began looking at properties. On XX/XX/XXXX we received a loan estimate from XXXX XXXX at Wells Fargo for a property we wanted. The loan estimate broke out the estimated cost for each item. On XX/XX/XXXX, three days before our closing, we received the closing cost disclosure. We had not received any updated costs between those dates. Unfortunately the disclosure added a number of items that were not listed in the loan estimate and were apparently part of the closing costs - these totaled {$2700.00}. The documents were sent at XXXX XXXX and we both arrived home around XXXX XXXX from work. We immediately contacted Wells Fargo and spoke with XXXX XXXX regarding this discrepancy. He began itemizing the items that they applied the credit we received from the seller. As he reached the items that were newly added he specifically said, " Those are paid by the seller and are n't something you 'd have to pay, '' and skipped over adding them. Once he saw the total did not match up to our credit, he added those items in and said that must be it since that would make it match the sellers credit. He suggested we speak with XXXX XXXX regarding these since he did not get to apply these credits and merely handled the numbers. According to XXXX XXXX, the line items for these items was not included in the original estimate because they were unsure of the cost, to which I would ask we were given estimated costs for other items but not these. XXXX XXXX said we should have knew other items existed because the number in the Sellers Credit section further down was not the complete value ( though how we were supposed to know there was an error in the line items, and not an error in the sellers credit section, we still are not sure ). XXXX XXXX admitted that this could be confusing, but that we should have figured it out ( even though she knew we were first-time home buyers and somehow this deceptive practice was okay in her eyes ). At this point it was after XXXX XXXX and she said nobody was at her office beyond one person and there was little we could do. If we decided to not accept the offer she could potentially try to ask the next day, but it would require moving closing and that may effect other aspects. If we decided to do this she offered to redraft up documents that would require us to take more points in interest rate and that she might be able to make up some of that cost that way ( though not all of it and it would be a significant amount of rate ). Even if we wanted to walk away from this deal, we would be giving up our earnest money ( which we ca n't afford to do ) and we would be boxed in with respect to time. My mother can not afford to live where she is currently and needs to move in with us and will be forced to leave her current residence in less than a month from our original closing date, which leaves us little time to find a new home and potentially a new loan provider. The fact that we were only informed of these new fees only 3 days before our closing date and the fact that XXXX XXXX knew when my mother would be arriving absolutely makes us feel like we were intentionally deceived regarding these closing fees.