Consumer complaint received 2022-09-14
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: WELLS FARGO & COMPANY (SC)

I signed a contract on a house on XX/XX/2022 for the closing to be on XXXXXXXX XXXX. Spoke to an agent at Wells Fargo XXXX XXXX XXXX who gracefully accepted that my relation with Wells Fargo is excellent and we should do the application. I had XXXX in retirement funds with Wells Fargo for last 8 years. I had several local banks already offered me close and similar options. But their initial promises surpassed others and I was led to them rather than utilizing 2 banks as a backup. Started out very sweet. 

*****How does the process works and what would a rate lock work was never explained***. We spoke a lot for ducumentation. And I had all that they could ask for. 

But uploading the document was prime which I understood. We sat down to go over what all will be needed. I started uploading as of XXXX XXXX to XX/XX/XXXX. I had all my documents and at least knew where and whom I need to ask. 
The Department who would look at the documents never spoke to me until XXXX of XXXX. Then she could not see anything and said will ask her IT to see why she can not see the uploaded documents. 
During this all time XXXX went over my assets and said will turn to Underwriter and showed me every possibility that could be with 20 %. Agreed I have monies and no bad credit or debt. 
I want on uploading same documents 5 times and did not care. She refused that I can not send documents through regular email. 
Ultimately I involved the Manager in document section and I ABSOLUTELY sent all my documents SAME DAY whatever they said was ready from my side THROUGH EMAIL. Thank God XXXX XXXX never cared to send through the portal.. Everything I said I will show the monies and no credit or debt was delivered. Interestingly was accepted by regular mail. 

Until XX/XX/XXXX I was given several options with 20 % down and understood something about locking with my brother and wanted to wait to lock.I was prepared for 20 % that is why I came to for the first time. 

My closing was in XXXX week XX/XX/XXXX. 
Wells Fargo portal showed weird sentences that " ask your company partners they will allow and give you monies... ... ... .I asked several times I do not have partners I kept on maintaining why there is significant distortion on the portal. 

On XX/XX/XXXX Friday was my last day for loan contingency and after giving me several options several times at XXXX i got a call from XXXX my loan advisor that we are giving you ONLY option is 25 % down and/or 28 % down due ot DTI. 
Since I was loosing my loan contingency at XXXX. I asked why did it change at the XXXX end?. Other than my DTI is not good. No explanation was given. Nothing changed from me from XXXX day other than time lost and this was not informed leave alone discussing explicitely what changed that my DTI changed overnight this week. 
I do not have debt/bad credit or which ever. They asked me to show monies and since I felt this A TRAP. which can benefit them. 
I had no option but to loose loan contingency. XXXX week to go for the closing. 
All documents were given and got them to speak to my CPA/Bookkeeper. 
In my letter I felt and wrote ... ..IT IS GENDER DISCRIMINATION. 
They are not able to accept that a women of XXXX running an organization alone and successfully. 
Over the weekend they still did not correct the discrepancy that I am a sole proprietor and distracted all of us for their tricks. However XXXX said that do not worry about more documents or what the portal has ot say. Instead we will discuss on XXXX XXXX, as if she already had a plan. 
She seems to have a strategy. She told my realtor that there is a very good chance she will get the loan so may be good to let the contingency go ... ... .not so straight forward but " I have a good feeling '' Monday XXXX XX/XX/XXXX pm I again get a call DTI changed /based on DTI you need to put down anywhere from 30 % to 38 % with 3 points ... ... ... and not speaking of 20 % or even Friday 's 28 % or 25 %???? 
It looked like they see the monies there and they wanted to grab it. I could not swallow but loose my contingency. 
Escalated the case and XXXX XXXX XXXX said you are better off getting out of this loan and go hire an attorney to look into it. 
He was so nonchalant because he is not loosing the down payment with 72hrs to go to closing. 
XXXX XXXX was the next person on escalation I got to speak to and he wrote to me that definitely this was NOT handled, should have done better. Unfortunately he can not do much. He could not do much for the 30 % and DTI changed so end of the game. No one gave me reason. 

********Underwriter never believed that a sole women can do what I am doing. 

I am a respected and skilled individual****** I was mistreated, misguided and they were just doing there business. 

XXXX live in a small place have several small banks I do business with them they gladly wanted me to give me loan and would have bent backwards ... ..only if I was not caught in their trap of 20 % down story that lasted at least 3/4th of this period and never uttered that DTI is going to be an issue except at the very last few days ... ... ... ..and increased from Friday XXXX to Monday XXXX of XXXX. 

I feel absolutely diminished and no one helped me to close. It was my perseverance and sturdiness to persist and see through to closing. It felt as if I was cash buying. 

****Fourthly, they did not read my closing contract which was the first document I uploaded 5X. 
They misinterpreted and without discussing or asking ( agreed that they ASSUMED few things ) that I am taking the house in a trust and not as husband and wife team. 
I do have several emails to support this. This was another whirlwind that was created.