Consumer complaint received 2020-10-17
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: WELLS FARGO & COMPANY (NV)

On XXXX XXXX we applied for a streamline refinance with Wells Fargo. Wells Fargo has owned this mortgage for 3 years. We have never been late with a payment and we have 800+ credit scores. Today is XX/XX/XXXX and we still do not have a closing date for our refinance. We feel Wells Fargo is dragging their feet on closing this loan and have to wonder how many people they have done this to. When we applied we were told it would take 60-90 days to close due to the volume of applications they have in their pipeline. We were accepting of that. After applying online we were set up to receive our documents for signatures through Wells Fargo 's " Loan Tracker '' module. This module would only allow one of us to sign since we both share an email address. We made an appointment with the loan officer to meet with her on XX/XX/XXXX so we could get all the pre-disclosures signed and give her everything needed to process and underwrite this loan. We specifically ask " have we signed everything that needs signed? '' We were assured yes that is everything. On Sunday XX/XX/XXXX we received a notification through our Loan Tracker Module a needs list. I compiled EVERY document on that list and overnighted this to our loan officer on Monday XXXX XXXX. We received communication from the processor on or around XX/XX/XXXX they were missing the signed borrower 's consent and authorization form and would need this before they could send it to XXXX also they needed me to send over my husband 's W-2 form XXXX because the one they had the top was cutoff ( this W-2 was included in the overnight package sent on XXXX ). At this point because of their inability to know if they have all documents signed needed to XXXX this loan we are almost 30 days into this process. This form was emailed to us, we signed it and mailed ( USPS ) this back to the loan officer, on XX/XX/XXXX the loan officer emails us to say she has not received this yet. I took this form down to our local Wells Fargo and had them fax it to our loan officer. On XX/XX/XXXX we were notified that our loan went to the XXXX queue. I might also mention while all this was going on we requested our rate be locked at 3 %. on XX/XX/XXXX and on XX/XX/XXXX we were informed by the processor our rate was not locked. Our loan officer did correct this. 
On XX/XX/XXXX it was communicated to us that Wells Fargo is having problems getting a VOE from my husbands employer. We were get that cleared up on XXXX only to have Wells Fargo come back to us XXXX to tell us they were having difficulty in verifying my employment. I work for XXXX XXXX XXXX ( XXXX XXXX, NV ) our loan officer tells me the number I gave them for XXXX XXXX XXXX XXXX is invalid. I tell my paystubs show I work for the XXXX XXXX XXXX XXXX not the school district. I never gave them that number!!!!!! Then she ask me for the number for verifying my employment. I sent an email to our loan officer on XX/XX/XXXX to inquire if our loan would be ready to close on XX/XX/XXXX, only to get an email back from her saying they are still working on getting my VOE from the county and they have escalated it ( I don't even know what that means ) XXXX XXXX employs over 10,000 people, I can not possible be the first county employee to apply for a mortgage loan from Wells Fargo. How do they verify employment for other county employees??? I ask our loan officer this very question this morning in an email. She has not responded yet. Are mortgage lender not required to do their on independent verifications?? and why in the world is Wells Fargo not asking for all this in one communication?? 
Also, I feel it necessary to mention we received and email from our XXXX agent on XX/XX/XXXX indicating they had received a request from Wells Fargo for an insurance binder and was wondering if it is ok to release that information. When I call our agent back to give permission I ask did Wells Fargo send the signed borrower 's consent and authorization ( the same form they were waiting to receive from us so they could send our loan to XXXX, our loan was delayed going to XXXX due to them not having this signed document ) along with their request? She told me no they did not send it ( again just another delay because they didn't use the form they say they needed ).

This is why we feel Wells Fargo is not to interested in closing this loan in a timely manner. As you can see it has just been one delay after another on Wells Fargo 's part and we still have no date for closing. Every month they delay this closing is just more money they make at a higher interest rate, plus at this point we are paying PMI and this will no longer be needed on the new loan. Surely you can understand why we feel the way we do. Please help, this is not right, fair or just and we feel this is borderline unethical.