Consumer complaint received 2018-01-10
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: WELLS FARGO & COMPANY (GA)

This complaint is further to previous complaint # XXXX. 

On XX/XX/XXXX, I received a call from XXXX ( ca n't recall his last name ) ( phone # XXXX XXXX ). He confirmed and Wells Fargo is standing by their rules and stipulations to NOT refund the XX/XX/XXXX full appraisal on my home, which I was told while inquiring about this in XX/XX/XXXX that I needed an appraisal on my home to have my PMI removed. So I paid {$550.00}, which I really did n't have to spend at that time, but I asked my realtor to provide a CMA on my neighbhood and she confirmed that I could make the 80 % loan to ratio value of my current balance. So that 's why I paid for the full appraisal of {$550.00}. 

Come to find out that Wells Fargo was only using this appraisal to see if the property increased or decreased in value. They refused to use this new appraisal and only used the appraisal from XX/XX/XXXX when I had my home refinanced due to a horrific divorce situation, which is unrealistic. 

After being told to provide all receipts of upgrades that were completed in my home, even going back to XX/XX/XXXX when I originally bought the home, preparing a spreadsheet and a written detailed letter as to why I believe my PMI should be removed, yesterday, I was 100 % declined that the PMI would be removed. All of these upgrades were completed before I had to refinance my home in XX/XX/XXXX to remove my XXXX  ex-husband ( divorce effective XX/XX/XXXX ) and none of these improvements were going to be considered. XXXX told me yesterday that they were previously considered in the appraisal of XX/XX/XXXX, which appraised for {$280000.00}, but that 's not what my home currently appraised for in XX/XX/XXXX, which they are not considering. 

The market has increased in property values since XX/XX/XXXX and these upgrades are still UPGRADES in my home and now my home appraised for {$310000.00}. Wells Fargo is standing by their strict unrealistic rules and erroneous stipulations for considering the new appraisal against my current loan as they are only using the loan value and appraisal from 2 years ago, XX/XX/XXXX. What part of that makes logical sense? NONE! 

XX/XX/XXXX, XXXX confirmed with me that they will NOT refund my appraisal of {$550.00} and they will NOT remove my PMI. I have never been delinquent on any payment. My credit is excellent, score ranging from XXXX, and I did everything asked of me from Wells Fargo and they REFUSE to be loyal to me as a customer as I 've been with this banking corporation for over a decade and Wells Fargo will continue to " steal '' $ XXXX/month from me for a PMI that is not needed. 

I 've talked to other financial companies and my realtor and all agree that Wells Fargo has made this process extremely difficult and long drawn out. They are scamming me, a loyal customer who pays on time every month, never delinquent, paid {$550.00}, and upgraded my home which they will NOT consider and will NOT remove the PMI because they want to continue to take that $ XXXX/month from  me and use an appraisal from 2 years ago. Again, this DOES NOT MAKE SENSE! 

I am now in the process of refinancing my home without a local financial company because I 'd rather pay someone else {$4200.00}, which is what Wells Fargo is telling me that I would owe them to remove my PMI, than deal with Wells Fargo who scammed me and refuses to be loyal to me as I have been to them. They are crooks and need to be investigated and shut down. I do NOT have {$4200.00} cash handy, so refinancing my home with another financial company and rolling these costs into my home, paying a higher interest rate of 4.375 % still lowers my monthly payment of about $ 100/mo, which was approximately my PMI with Wells Fargo. But Wells Fargo REFUSED! 

Needless to say, I was irate in speaking with XXXX yesterday because of their unrealistic rules and shady stipulations to remove my PMI. I made it clear with my new financial company that I DO NOT NEVER want to do business with Wells Fargo EVER again and prefer that they hold my note and not sell my note, if at all possible. However, if the note should be sold, they put in their records to NOT SELL MY NOTE TO WELLS FARGO. 

I am currently looking into other local, smaller banks, who are more personable and actually care about their customers and want the best for their customers unlike these big banking corporations, i.e., Wells Fargo. My parents are also doing the same and have a lot more money invested in Wells Fargo than I do. 

I am asking you kindly to investigate Wells Fargo for their shady unrealistic rules and stipulations they place on their loyal customers. They should be shut down, and I know I am not the only person who is having issues currently with Wells Fargo. I can name XXXX people that refuse to deal with Wells Fargo, XXXX XXXX ( GA ), XXXX XXXX ( FL ), and XXXX XXXX ( GA ), my personal friends who 've I 've shared this experience with. XXXX XXXX already removed her money years ago with Wells Fargo because she felt they were shady and refuses to ever do business with them. XXXX XXXX and XXXX XXXX are in the process of removing their monies and direct deposits with Wells Fargo too. My parents have also had issues with Wells Fargo and are in the process of removing their monies from them as well. 

I do not want to be contacted by anyone at Wells Fargo at this point. They wasted my time, my money, and caused a great deal of frustration on my part making me run around in circles chasing my tail to provide them everything that was asked of me to only be DENIED! 

Thank you