Consumer complaint received 2016-09-16
Product: Mortgage — FHA mortgage
Issue: Application, originator, mortgage broker — 
Company: WELLS FARGO & COMPANY (NY)

I am filing this complaint because I feel that cfpb is one who can address my concerns I have attempted to explore other options but it seems that its been a failure. I am a Wells Fargo mortgage customer for over 3 years now and about two months ago I decided to refinance my mortgage I been getting numerous offers from other banks so I figured why not refinance with Wells Fargo that is when I contacted the loan officer who hadhelped me get my original loan 3 years ago. Her name is XXXX XXXX a wonderful person I put my trust in her again and right away she started the refinance process. We waited for over a month to get the appraisal done which I had to pay out of pocket for and the appraiser just seemed to be taking his sweet time doing his job. Finally he came by and it took another 2 weeks for his report to be finalized. After reviewing the appraisal I noticed right away that there 's many discrepancies and inaccurate information on his report. His comparison that he made to evaluate the price of my home was so far off. He compared homes that are alot smaller in size and valued for at least XXXX under what my house is worth. I immediately contacted XXXX the mortgage consultant and I expressed my concerns and the unnecessary frustration the mortgage consultant and I expressed my concerns and the unnecessary frustration the appraiser has caused me and I asked her if I can appeal his decision she said yes but we have to provide supporting evidence that will help prove our claim which I did. I waited another two weeks to hear back from the bank 's appraisal department. I was told that the XXXX has said that the homes comparisons that I had provided are located at the " peaks '' section of my town and that there are n't any homes in my area to compare my home to. I noticed right away that was a silly and lame argument by him and very inaccurate statement by him at this point XXXX advised me that there is n't any other option so she will request for a cancellation on the application and I was told that unfortunately I will not be funded the appraisal fee or the credit check fee hearing that info only got me more upset at this point I truly felt that I am being mistreated not by XXXX but because of the appraiser 's false report Wells Fargo had decided to throw the book at me. A complete loss for me. The whole refinance process was to help me save some money so I can afford my mortgage but the process caused me to waste money that I do n't really have to waste. I contacted the realtor that help me purchase my house XXXX I wanted to get her opinion and see if she agreed on if my house is worth $ XXXX because that 's what the appraiser had claimed. Right away she disagreed so I asked her if she can kindly let me know what my house is worth she forwarded me an email with listing of homes that she has sold in the last 6 months in my zip code that are very close to value to my house and she told me that when I purchased the house in 2013 the appraiser had compared the house to homes in the " peaks '' section of my town so why not now I told her I have no clue why that is the reason. So I believe the process is in a limbo right now and no one at the bank besides XXXX cares about it. nothing has been done to address my concerns and the problems that I been dealing with. Yesterday I contacted Wells Fargo 's escalation department to see if they can help me with this issue. I was speaking to someone named XXXX who seemed not to care at all and did n't address my concerns all she was saying is " yeah '' " yeah '' .... " some one will get in touch with you '' ... ... horrible customer service so rude. That made me think about leaving Wells Fargo and taking my business to another bank. I hope you can help me through this process because it will mean the difference between savings my mortg.age or going into a foreclosure.