1.7
165 reviews
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Wells Fargo Home Mortgage

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Wells Fargo Home Mortgage
 
1.7

(based on 165 reviews)

Ratings Distribution

  • 5 Stars

     

    (13)

  • 4 Stars

     

    (13)

  • 3 Stars

     

    (6)

  • 2 Stars

     

    (16)

  • 1 Stars

     

    (117)

19%

of respondents would recommend this to a friend.

Pros

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Cons

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Best Uses

No Best Uses
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    • I received a sample (6)

Most Liked Positive Review

 

Great customer service and great rates

    When I started looking for a house 3 years ago I went through the normal procedure of trying to get a lender before I looked for a house. At least I...Read complete review

    When I started looking for a house 3 years ago I went through the normal procedure of trying to get a lender before I looked for a house. At least I call it normal as I figure you need to know what you can afford before you look at house. My sister in law is an appraiser in central Florida and she told me about Wells Fargo when I was there for a visit about a year before that.    **The Process    **I contacted the local Wells Fargo Mortgage office and spoke to the woman there about getting a loan to buy a house. She set up an appointment for me that afternoon and I took all my papers with me. We sat and filled everything out and began the loan process. I told her I wanted to buy a house, but I needed to know what I could get before I started looking. As I mentioned in my review on Wells Fargo's Platinum Visa I had no recent credit history (this review should have come first)    I wasn't sure how long it would take but I never thought it would be only 2 weeks before they contacted me. They told me I could go FHA and being a first time buyer I could also get a good rate even though my credit history was scarce. She gave me the loan amount over the phone and I was shocked at the amount. I figured it would be low because of my history but was told since I was putting 20% down I got an excellent loan.    **Customer Service**    She even recommended a Realtor that she had worked with in the past as I was new to Kansas and didn't know anything about the area. Well I contacted the Realtor and began my search for my new home. My mortgage agent and Realtor worked together through the whole process and kept me informed on every little detail. I never figured a mortgage company would even care about things like that. I mean don't they only care about their money and being paid on time?    I finally found my perfect home and got ready for the closing which was 2 months after I got married in 2005. Closing went very well and after it was done my mortgage lady presented me with a house warming gift. I was shocked to say the least and my mind about mortgage companies was change forever.    Not only did I get a fantastic rate on my new home but I was treated to a unbelievable experience with Wells Fargo and their customer service. It didn't end there either my mortgage broker has been in contact with me every so often just to make sure every thing is going well.    **Bottom Line    **Being this was my first home I was surprised that a mortgage lender would go as far as Wells Fargo has. I was never treated like a nobody, I was treated very well by them. When a problem came up it was handled quick and painlessly. My mortgage lady went the extra mile to make sure the transaction went as it should with no hiccups.     When we had a problem with one of the inspections the Wells Fargo agent was right in the middle of it lending a hand. I would recommend Wells Fargo to anyone in need of a mortgage. All the horror stories I had heard before were erased by one very caring lady and Wells Fargo Mortgage.

VS

Most Liked Negative Review

 

Our purchase agreement fell through because of Wells Fargo.

We started the process in Feb 2010, before we even saw the house we put an offer on.  I was pre-approved, no problems, VERY high credit score, never a late payment on...Read complete review

We started the process in Feb 2010, before we even saw the house we put an offer on.  I was pre-approved, no problems, VERY high credit score, never a late payment on anything.  When we found our house to purchase, our purchase agreement was accepted, still no problems, they said everything was fine and would get done on time.  At the end of March. they kept asking for different documents, pay stubs, rent payments, letters explaining xyz, normal mortage stuff.  Fine.  I had everything in order, sent it right in the same day it was requested.  The guy we were working with was very nice and helpful, but went on vacation twice during the process- including a few days before our closing date.  BTW, the loan was STILL not approved, it was still "in underwriting" when he left.

Today, April 14, 2010, our loan is still "in underwriting" at 3pm and our close date is APRIL 15TH.  I have pulled cash from investments in order to cover the down payment and to meet the terms of a 2nd mortgage program through the city we had our purchase agreement in.  I FINALLY hear on our mortgage loan at 3:30pm, at our walk thru with our realtor, saying they needed 2 more pay stubs.  OK fine.  I had anticipated this, and had them on me at the time.  I drove them over, and sat with the guy who was in charge of our mortgage guy's accounts at the time.  He was very nice and understanding as well, but told me that I needed an additional $40,000 before they would be able to sign off on the loan.  Our purchase price was $185,000, I already had $80,000 to put down, and they wanted an additional $40,000?!  And I found this out at 4:15pm the day before closing!?  At this point, it was WAY too late to find another lender.

Apparently my experience is not much different than many other borrowers, according to the realtors I have spoken to.  Luckily our closing was able to be pushed to the 16th, and they said they would "see what they could work out" but I am not holding my breath.  It can't be pushed back any farther, as the house is a short sale and will go into foreclosure on the 17th.

I would not reccomend wells fargo home mortgage to anyone.  It was not handled in a timely manner and although everyone I dealt with was very kind and pleasant, but this transaction is VERY likely to not go through because of Wells Fargo's inability to process our case in a timely manner.

Reviewed by 165 customers

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1.0

feeling ignored and disrespected

By 

from Oklahoma

Comments about Wells Fargo Home Mortgage:

My boyfriend has been working on a mortgage with them for over10 weeks. They don't return calls or emails for several days and usually after 3 to 5 messages are left and then their answers are not responsive to your questions. They ask for things that don't make sense and then they say they will check on a response to your questions but the next time you talk to them, they act like they have never heard the question. They asked for records on my home and neither I nor my home were on the mortgage application.

 
1.0

HORRIBLE

By 

from Kcmo

Comments about Wells Fargo Home Mortgage:

Same as all the other complaints. I wish I had never used them. Just horrible and unprofessional. Paying more than $100 per month than was told! STAY AWAY! Use a local mortgage company... They should be audited and held accountable.

 
1.0

Find someone else to handle your home buying process!

By 

from Omaha. NE

Comments about Wells Fargo Home Mortgage:

So, husband and I found our dream property. We both fell in love, put an offer on it when we saw it and called WF the next day to get preapproved. Husband spoke with them Tues, told them all the info and that we were planning to sell our current house after the move. They preapprove us w/great rates & bonuses. We're thrilled, naturally.

That Friday, I receive an e-mail thread from my real estate agent saying WF can't help us because it's a pre-1976 manufactured home. WF themselves never bothered to contact us about this, and in the e-mail it's basically "we can't help you, sorry for the inconvenience".. Inconvenience?! This is a huge problem you should have seen from the start!

Luckily, our realtor gets it fixed on a technicality and everything is good to go with the original plan w/WF. Our case gets passed to a different guy and we never hear from the first girl again. He continually reassures us everything is fine, and starts asking for many. many documents. (I sent one in as requested, and it was rejected because it wasn't on their form, which was never provided in the first place).

On the NEXT Friday, I receive numerous requests for more docs, one of which is a statement of net proceeds from the sale of our current house. Huh?! I called WF immediately and am now informed that they were NEVER planning to finance us while we have our current mortgage on our record. He was all "oops, she should have told you". So now, suddenly, we have 6 wks to sell our current house and have made no preparation to do so because it was never the plan. Which means we're scrambling to get ready and we'd take a 10-20k loss on price, to move it that quickly. 2 MAJOR issues in 2 weeks, and we're not even through the application part yet!

Hubby & I got fed up and called USAA. Got a better rate, shorter closing date AND we can keep both mortgages. Were told we're well qualified for it even with both. Moral of the story: be VERY careful who you want to deal w/for the next 30 years!!

(1 of 1 customers found this review helpful)

 
1.0

Terrible

By 

from Mt holly Nj

Comments about Wells Fargo Home Mortgage:

Sent a payment in on time they called me two weeks after I sent it and said they had not received my payment and that I was in default and that if I hadn't paid by the end of the month it would go on my credit report. I told them that I sent the payment in and they told me they didn't know where it was and they didn't receive it and that I should go and pay online. I put a stop on the check that I sent them and I paid the bill online a week later they found the check that they accused me of not sending and cashed it not as a check as an online transaction and withdrew it directly from my account messing me up for the entire month and making other checks bounce. When calling them to find out what happened there was nothing they could do and unless I could prove that I'd sent the check before the 16th they would not withdraw the late fee of $100. Even though they had lost. When asking why they ran it as a online transaction and not a paper check which is why it was never stopped they said that they didn't understand that wasn't their problem. Thanks to my banking institution they understood and help me out and got it all sorted out Wells Fargo helped zero.

(2 of 2 customers found this review helpful)

 
1.0

The WORST company to deal with I have ever seen

By 

from Atlanta, Ga.

Comments about Wells Fargo Home Mortgage:

I made a mistake on my online banking and put a bill in to be paid before the money was in the bank I had made my November payment on 10/28 and this payment was made on 11/4. I put in for a reversal for this mistake and got the one payment back and thought everything was taken care of. Little did I know late in the month of November I started getting calls that I was late. It seems that somehow WF credited back both payment. I have proof with bank statements that I only got one payment back, but still WF is fighting me on this. They have charged late fees and put late payment on my credit report and are calling me to harass me for a late payment THAT IS NOT LATE. This is by far the worst company I have ever dealt with!!

  • Affiliation:
  • I received a sample

(3 of 3 customers found this review helpful)

 
1.0

Stay as far away from Wells Fargo as possible!!!

By 

from White Plains, NY

Comments about Wells Fargo Home Mortgage:

Wells Fargo has the worst mortgage application possible. They have too many applications. The loan officer has know clue about you or your finances. They ask the same questions over and over. They lose documents. They take forever. You will waste so much of your time and money. After months of trying to work through there incompetency we finally took our business elsewhere. Do yourself a favor and stay clear of Wells.

(2 of 3 customers found this review helpful)

 
1.0

Wells Fargo Home Mortgage refuses to speak to Widow

By 

from Marietta, Georgia

Comments about Wells Fargo Home Mortgage:

My husband passed away in March of 2015 and since the end of April, I have tried to get the Customer Service to speak with me regarding the home loan I continue to make payments on. Although in the state of Georgia, Joint Tenants with Right of Survivorship means ownership of a property passes to the the person still living, Wells Fargo refuses to allow me to speak with them but accepts my money. I filed a complaint with the Consumer Financial Protection Bureau, and the mortgage lender provided untrue information and ignored Georgia law regarding property ownership. Although I have involved the Federal government and my Congressman, this issue continues on for 3 1/2 months and still not resolved. Below is my most recent response:

I am appalled by Wells Fargo providing untrue information, stating they were contacted by an unauthorized third party (meaning myself) and that they provided information on how to either assume the loan or refinance, which is completely false; I have received nothing. I asked to be placed on the loan as the authorized contact, and at their request, sent the Warranty Deed showing Joint Tenants with Right of Survivorship, a copy of my husband's will (stating I would assume responsibility of the loan on our home), Letters Testamentary, death certificate and finally, a letter from the Executor, Wallace Temple Bledsoe, signed and dated, stating I would be the point of contact for the residential loan, not him. This information was sent to both the correspondence department (which they never acknowledged receipt) and to Ms. Pugh, once she had been contacted by Congressman Tom Price and by the CFPB. As I previously explained to Ms. Pugh, Customer Service (who hung up on me several times) and face-to-face at a branch, Joint Tenancy with the right of survivorship (JTWROS) is a creation of statute in Georgia: O.C.G.A. 44-6-190. When property is held in joint tenancy and one of the joint tenants dies, the decedent's interest in the property immediately vests in the surviving joint tenants and never becomes part of the estate of the decedent. Yet they demanded that I provide the information I listed above, as though Georgia law regarding property ownership does not count to Wells Fargo. I did so and as of today, still have not been given the right to discuss the loan I pay each and every month, and at this time, paid 3 months in advance.
As to an assumption or refinance, I'm sure Wells Fargo would love to get 3.625% 30 year fixed off their books, collect an origination fee and administration fee, or at worst case, collect an assumption fee, all money-makers for them. Their excuse as to why they have to do this is because of the Dodd-Frank Act and that the CFPB requires all parties qualify for a loan, even if it is due to death. As I mentioned before, your website clearly states that when a loan is on a property that changes ownership due to inheritance, death, etc., the party DOES NOT have to qualify.
I certainly understand how Wells Fargo works because I was employed by Wells Fargo Home Mortgage for approximately 9 months. During that time, I watched upper management ignore what was best for the consumer, allow loans in process to go into the "big black hole" which cost consumers money and time or worse yet, ignoring requests/needs so the "problem" would go away. The bottom line is that Wells Fargo Home Mortgage is grown to such a large proportion that they operate their business exactly how they wish and certainly not in behalf of the consumer.

I want to be on the loan as the point of contact, since the estate has nothing to do with the ownership of my home. I no longer want to get letters coming to my home and addressed to the Estate of GLM, c/o Wallace xxxxx xxxxx. Please do not send any more letters that express condolences to Mr. Bledsoe - he was simply a third-party executor. I am paying the loan, not the estate since the assets have been distributed, not Mr. xxxxx and certainly not my deceased husband.
I also want to be acknowledged as the responsible party for all the reasons listed above. Your website clearly states that my request is allowable under your guidelines.
Thank you for your help and I certainly hope that Wells Fargo Home Mortgage will take the action needed to correct my situation and respond more accurately and timely in future correspondence.

(6 of 6 customers found this review helpful)

 
1.0

Nightmere experience.

By 

from Kansas City, MO

Comments about Wells Fargo Home Mortgage:

Mabel Goins in Kansas City will tell you tales about a Missouri grant and how you can qualify for a conventional loan with no money down. We looked at pricier houses after she said we were qualified. She even gave our realtor a "pre-approved" letter. Then 2 weeks before closing she wants you to produce documents that she knows don't exist.. even though nothing has changed on your end. Our transaction fell through. She wouldn't return phone calls. Horrible experience. Wish I'd read the Wells Fargo reviews before we started the process.

(3 of 3 customers found this review helpful)

 
1.0

Good Luck!

By 

from Waco, TX

Comments about Wells Fargo Home Mortgage:

After the 3rd time of wanting to buy a home and NEVER hearing back from Wells Fargo after the inital phone call, I took my mortgage to lending tree and we close in less than a week.

Wells Fargo started out very strong with an out of state rep and once I decided that I wanted to use a first time home buyer program I was recommended to use a local branch to help me through the process. WHAT-A-NIGHTMARE! They mixed up my appointment time, switched me to someone else that never contacted me, when I called I got only voicemail and no return calls - I'm not someone with bad credit or low income - There was no excuse for the way I was ignored and could never contact anyone.

My advice, go with Royal United Mortgage! They have made the process so stress free and easy! I have been in contact with my rep from day 1 and have been updated every step of the way about whats going on, inspections, when our closing date is and so many things that a first time home buyer walks into with no knowledge of that wells fargo didnt even mention!

AVOID, AVOID, AVOID!!!!!! Unless you have time to waste or are in the 'know' with someone at the mortgage department!

  • Affiliation:
  • I received a sample

(3 of 3 customers found this review helpful)

 
1.0

Wells Fargo is Terrible

By 

from Chicago, IL

Comments about Wells Fargo Home Mortgage:

I had my loan for my condo with Wells Fargo and was looking to refinance. I spoke with someone at the branch and they said it would be easier to refinance with the same bank and it would cost less than switching my loan to Chase. That was completely wrong!
It has been over 3 months since I started this process and I still have not closed on my refinance. The branch office has been blaming me for the hang-up with their corporate office when really their forms have been wrong consistently. I'm finally going to close, but I'm stil not getting the credits I was promised and this process has been beyond frustrating.
DO NOT use Wells Fargo for your home mortgage or to refinance.

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