Consumer complaint received 2025-08-08 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Fees or costs during the application process
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
I am submitting this formal complaint against Wells Fargo Bank , N.A . in connection with my recent mortgage application for the property located at XXXX, XXXX. I am alleging bad faith underwriting conduct, procedural manipulation, and the use of conditional approval as a shield for unjustified, last-minute changes that amount to COERCIVE lending practices. 

Summary of Events : I applied for a mortgage with Wells Fargo and was issued a conditional approval after submitting complete documentation. 

I was highly responsive throughout the process, routinely submitting requested documents within minutes, and remained fully transparent. 

Over the course of the underwriting process, Wells Fargo gave repeated verbal and written assurances that the application was in good standing.

Yet, only four days before the scheduled closing, Wells Fargos underwriter introduced a new, material condition : a demand that I pay additional property taxes at closing. This demand was based on a document I had submitted over a month prior at the VERY beginning of the loan application, and which had already been reviewed. 

This tactic appears designed to leverage the borrowers position near closing to extract additional funds under pressure, knowing full well the logistical and legal implications of delaying or renegotiating so LATE in the process. And Wells Fargo Clearly knows I have to close within 30 days or else I will lose my earnest money to the builder because the property I purchased is a quick move-in house.

When I filed a complaint about my concerns to WF, Wells Fargo responded by emphasizing that my loan was never guaranteed and was only conditionally approved. However, if this issue is so material that the loan can not move forward without resolving it, why would WF kept guaranteeing me that the loan looks in good standing? And why would WF give me a conditional approval in the first place, and I must pay for all the appraisal and service fees to move forward. 

The related document was submitted at the VERY beginning of the loan process. Yet WF is pressuring me 4 days before close and raising new unreasonable concerns. Issues of Concern : 1. Unreasonable Timing and Material Change : The introduction of a new financial condit
ion just 4 days before closingbased on previously reviewed documentationconstitutes a procedural failure and appears designed to leverage time pressure to force borrower compliance. The related documents were submitted at the VERY beginning of the loan application. WF had more than enough time to review and raise any concerns earlier, so I can make an informed decision earlier. Not ONLY 4 days before closing and I had to fill the loan gap, or I will lose myXX/XX/XXXX earnest money to the builder. 

2. Bad-Faith Use of " Conditional Approval '' : If this issue truly impacted underwriting approval, it would have been addressed at the conditional approval stage. Introducing such a demand after a full review period is cornering me to have to take WF 's loan terms without a choice ONLY 4 days before closing, or I will lose my XX/XX/XXXX earnest money to the builder. Wells Fargo clearly knows every single rule with the builder as they partnered multiple times before. 

3. Procedural Unfairness and Psychological Duress : This abrupt shift in terms caused significant emotional distress and disrupted a time-sensitive, high-stakes transaction. I was ultimately forced to withdraw from the loan entirely and proceed with an all-cash purchasea step that imposed logistical, financial, and emotional burdens. 

4. Failure of Duty of Care : As a XXXX XXXX military member with an active FBI background clearance, I am held to the highest standards of personal and financial integrity. To have my credibility and financial standing disregarded at the final stage of the process is both professionally damaging and morally indefensible. I promptly responded to EVERY single detailed request from WF in such a timely manner and cooperated with my full efforts.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation