Consumer complaint received 2015-12-15
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: WELLS FARGO & COMPANY (DE)

In XXXX 2015 we worked with a Mortgage Banker ( XXXX XXXX ) from Wells Fargo to obtain a mortgage on a new home. XX/XX/XXXX the processor for Wells Fargo began requesting documents. We supplied this process with the same documents sometime 4 or 5 times, but we were eventually given approval by underwriting for our mortgage. Due to issues with the builder taking longer than expected we ended up cancelling this mortgage request in XXXX 2015. The builder finally worked out their issues and we were provided a settlement date of XXXX XXXX, 2015. We immediately informed the mortgage banker ( XXXX ) and asked her to complete the loan. Over the next 1 1/2 months the Wells Fargo processor ( XXXX XXXX XXXX ) once again asked me for documents that were already previously supplied 4 or 5 times. When the processor would contact us, we would direct her back to the mortgage banker and advised that the documents had already been supplied. As a consumer we should not have to be accountable for the lack of internal communication at Wells Fargo. Instead there should be a process set up whereby the processor reaches out to the mortgage banker to obtain the documents before going to the consumer. XX/XX/XXXX the appraisal process began. The initial appraisal was provided on XXXX/XXXX/15 and was valued well under the purchase price of our home. During the following week there was a lot of back and forth with the bank about the issue. In the end a Mortgage Manager ( XXXX XXXX ) contacted us to advise our options. In order to keep our settlement date of XXXX/XXXX/15, we had to accept the fact that the appraisal was under the value of our home and put an additional {$5000.00} down on the loan or we could dispute the appraisal which would take 5 - 7 days. We caved and agreed to put the additional funds in our down payment. XXXX XXXX also advised that he would be out of the office on XX/XX/XXXX & XX/XX/XXXX however another manager would be taking over and working to get our loan closed so we could proceed to settlement. He stated that the processor ( XXXX XXXX ) would contact us on Monday if any additional documents were necessary. We said no, the processor should go through the mortgage banker first as every time in the past she called us and the mortgage banker already had the document ; again we were being asked to inconvenience ourselves to accommodate Wells Fargos internal communication problem. During all the back and forth about the appraisal, our realtor called the appraiser directly. She did this to determine when Wells had contacted him about the issues as we had been given conflicting information. On XX/XX/XXXX the appraiser filed a complaint alleging undue influence. We strongly objected on the basis we had accepted the appraisal and were providing the additional funds in our down payment. An investigation pursued, needless to say we did not go to settlement on XXXX/XXXX/15. During the investigation a review of the appraisal was performed and the reviewers found the appraisal to be " materially deficient. '' On XX/XX/XXXX we were provided this information and told that a new appraisal had been requested on a rush basis. The expectation was that we would be able to go to settlement on XX/XX/XXXX since the new appraisal is a rush it should be completed quickly. On XX/XX/XXXX we found that there is no such thing as a rush with Wells Fargo. The appraisal did inspect our property on XX/XX/XXXX and then is given 3 days to turn in the appraisal. So since XXXX/XXXX/15 the time we advised the mortgage banker things were a go and we finally had a settlement date we have been tossed back and forth by this bank. Costing us money in the form of additional unnecessary rents on a storage unit, our time to continuously reschedule appointments, storage fees on appliance & furniture, pain and suffering. In addition, we had both taken vacation from our perspective emplo