Consumer complaint received 2021-01-31
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: WELLS FARGO & COMPANY (WA)

The following is a detailed account of our distress and frustration with Wells Fargo Mortgage. 
I've worked for the same company for 32 years, have a comfortable income and perfect credit rating, never missed a house or credit card payment, have purchased 8 homes in my lifetime, the last two of which were financed by Wells Fargo. So I went back to them in good faith, when I moved to Washington state. We only needed to finance 50 % of a $ XXXX home that I would pay 50 % down. BIG MISTAKE! 
I submitted first application XX/XX/2020 and received a " Priority Buyer '' preapproval letter on XX/XX/XXXX, from XXXX XXXX at the local XXXX area office for $ XXXX ( $ XXXX more than I needed ). I made a purchase offer on a home on XX/XX/XXXX, and notified XXXX immediately. I received online mortgage documents on XX/XX/XXXX and signed immediately. Then immediately complied with the usual requests for proof of insurance, other debts, assets, W2 and paystubs, etc. 
I received an email from XXXX XXXX, the Wells Fargo loan processor, for the first time on XX/XX/XXXX. He stated our closing date was XX/XX/XXXX, and listed a few more documents needed, which I submitted electronically on XX/XX/XXXX. Nothing more was requested by Wells Fargo until XX/XX/XXXX ... THEN THE INQUISITION BEGAN! From my detailed checking account transactions, the underwriter found payments to two named people. One was a foreign missionary and the other was a young man who mowed grass on empty lots I own in Kansas. The underwriter dug deep, asking for an endless succession of documentation to PROVE THAT I DIDNT LIE in the loan application, and didn't have another mortgage debt in Kansas. Each time i provided a requested document, the next day I was asked for another ... this went on FOR OVER A WEEK! I had to show proof of clear title and deed to the property, proof of insurance on it, receipts for mowing, and other trivial time-wasting requests for info. 
If that wasn't frustrating enough, I was notified by XXXX XXXX on XX/XX/XXXX that an appraisal would be required, which seemed surprising for a low risk loan on a house with clear comps in the surrounding area. Because an appraiser was late getting booked, late to show up for inspection, and late with the report, we missed our closing date! After being told ( in an email ) that the inspection had been done on XX/XX/XXXX, we learned on XX/XX/XXXX that it had NOT! The seller was in limbo because her next home purchase was contingent. I was in duress because my current rental contract ended in XXXX without renewal. Every day I checked email for an update, called and left messages with XXXX and XXXX, but they couldn't tell me anything and sometimes didn't even respond ... it was " out of their control ''. Although I tried, it was too late to apply with another mortgage lender. 
This went on right up to the day of closing XXXX XX/XX/XXXX )!. We were forced to ask for a 3 day contract extension with the seller, not knowing when the appraisal report would come. Then we had to ask for another 4 days. On XX/XX/XXXX, Wells Fargo sent an email TO MY REALTOR ( not me ) stating that the appraisal was incomplete and CD couldn't be sent yet. We knew by then that the law requires a 3 day wait after my signing of the CD. THERE WAS NO END IN SIGHT! I made the decision and suffered the tax penalty to withdraw the $ XXXX from my XXXX, effective XX/XX/XXXX. 
Funds were received on XX/XX/XXXX and I took possession of the new home on XX/XX/XXXX. That same day, I received an email from XXXX at Wells Fargo, stating that the loan had finally gone through, and I would be contacted by a " closer '' named XXXX, to work with the title company and " finalize the numbers '' ... .SIGNALING YET MORE DELAYS! Who knows how long this nightmare would have lasted! 
I've received NO reply to repeated emails to XXXX 's manager, XXXX XXXX, despite the offer : " we're here to help - contact me for any concerns or questions '' at the bottom of XXXX 's emails. I tried calling the customer care center only to be passed around, then put off until the next business day. There was no contact the next day. I've also received NO response to my final request for reimbursement of the {$700.00} I was forced to pay for a wasted appraisal. 
As a minimum, I should be reimbursed {$700.00} charged to me by Wells Fargo for the appraisal. This appraisal was ordered late by Wells Fargo, as XXXX admitted in a phone call. It was needless to begin with, proven by the fact that it was almost the exact amount as the selling price of the house! 
I think I'm also entitled to compensation for the tax penalty for withdrawing XXXX account funds. This could cost me as much as $ XXXX above the normal tax I would have paid in retirement, by putting me into the next higher tax bracket this year. 
This account is entirely corroborated by emails and written documents. 
XXXX XXXX