Consumer complaint received 2018-12-17
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: WELLS FARGO & COMPANY (IL)

Issue # 1 I started the mortgage application in XX/XX/2018 with Wells Fargo Home Mortgage. After submitting my information to the loan specialist he told me that I should only have to put 3 % down as cash to close. I explained to him that I had applied for home financing at other institutions, but I wanted to shop around to ensure I am getting the best complete pricing. The loan specialist told me about a first time home buying credit that Wells Fargo offered in the amount of {$750.00}. I told him I would be interested in the credit. During the same conversation the specialist informed me that the automated approval system would not pre approve me unless I put 5 % down instead of the 3 %. I agreed, but was still interested in the {$750.00} First Time Home Buyer Credit. The loan specialist assured me that I still qualified. I closed on XX/XX/2018 and the specialist did not inform me that I would not get the credit until a few days before closing. I asked during the underwriting process as well and he lead me to believe that the credit was still an option. I feel as though I was given the bait and switch, especially since the specialist knew I was pre approved by another institution. 

Issue # 2 During the underwriting process I was given dates that I needed to get documents submitted in order to keep my closing date. I gave the loan specialist permission to communicate with my attorney about deadlines and other things pertaining to my financing. My real estate agent began calling me stating that he was getting calls from the sellers agent and the sellers agent had knowledge of which documents were still missing and questioning when they would be turn in to receive the " clear to close. '' I called the loan specialist and asked if he was giving information to the sellers agent and he admitted that he had. My attorney also forwarded me email treads that had the sellers, sellers attorney, and the sellers agents CC 'd on with information included concerning my loan. I spoke with the agent and reminded him that he wasn't given the authority to give that information out concerning my loan and he responded that it was only general information. I advised him that he could have compromised my position in the event I needed an extension to submit documents. I also advised him that he had violated my privacy. 

Issue # 3 I closed on XX/XX/2018 which was a Tuesday. Since the Friday before I received three different truth in lending statements with tree different cash to close amounts. 

I spoke with the manager of the loan specialist I completed the application with to voice my concerns. He investigated for two weeks and listen to all of the phone calls I had with the loan specailinst and he agreed that the specialist did not inform me that I would not get the {$750.00} credit in time to seek other options. He informed me that he needed to forward his findings to Wells Fargo Customer Care ( WFCC ) and they will have the final say. I was contacted by WFCC and answered questions about my experience. After a one month investigation I received a call stating that WFCC has determined that no wrong has been done.