Wells Fargo Home Mortgage

If you are thinking financing a new home or refinancing your home loan home to lock in an interest rate before they get too high, think twice about Wells Fargo Home Mortgage (WFC).We encountered delay after delay in our home refi. Each delay was accompanied by a new excuse — then a request for additional documents — all seemingly designed to discourage us from obtaining a loan. WFC’s ability to invent excuses boggles the mind. Take my word for it. There is something desperately wrong there. While I do not have experience with every branch of WFC, there may be something in the drinking water at:
Wells Fargo Home Mortgage
1616 West 17^th St Tempe, AZ 85 281
Phone (866) 235‑8693
If you decide to seek a loan from WFC, be prepared. If you need further convincing, here is a brief chronology of the Kafkaesque nightmare that we experienced the past five months.
Before I continue, our financial stats are:
* 6 figure income
* Professional/​stable job
* Great 401k & IRA funding
* Low ($ 3000) credit card debt
* Credit score — Highest of the three credit rating companies = 800. Lowest = 792
* Current home loan (17 years) with Bank of America
* Early May 2013
Our completed home loan/​refinancing application was submitted to Wells Fargo (WFC).
* Saturday May 21, 2013
Letter received acknowledging our application. The letter stated, «Thank you for choosing WFC for your financial needs. We are in the initial stages of reviewing your application…»
* Monday June 3, 2013
After not hearing anything from WFC, we call to check on the status of our loan and are told, «Your application for a home loan with WFC was declined.» Naturally, we ask why and are told, «Hmm, I don’t know.» The associate promises to call us back with the reason (s).
* Tuesday June 4, 2013
As promised, the associate calls to say «someone dropped the ball» and your loan is not declined — but you will need to complete and submit a new loan application.”
* Tuesday June 11, 2013
We received a «Request for Additional Information.» The request, (in all CAPS), stated — verbatim:
«WE ARE UNABLE TO PROVIDE A CREDIT DECISION ON YOUR APPLICATION AT THIS TIME. PLEASE PROVIDE THE FOLLOWING INFORMATION: „RANDY MARSH“ AND „SHARON MARSH“ TO EACH SEND DOCUMENTSTO VERIFY BOTH FULL LEGAL NAME AND DATE OF BIRTH.» ONCE THE ABOVE INFORMATION IS RECEIVED, A FINAL CREDIT DECISION WILL BE MADE. «
* Tuesday June 11, 2013
In response, we scanned and emailed images of our driver’s licenses to WFC
* Friday June 14, 2013
We call WFC to ensure everything is in order and the associate asks us to send scanned images of our driver’s license. The associate claims that the original email was never received. We forward the original email with attachments along with his reply confirming receipt of the original email.
* Monday July 8, 2013
After nearly a month of silence and calls to WFC that are not returned, we are asked, yet again, to provide documents to verify our legal names, e.g., driver’s licenses. All prior emails forwarded to the SAME person who initially asked for and received them.
* Monday July 15, 2013
WFC requests copies of our tax returns for the past five years, despite having submitted the past three years’ returns with our original application.
* Tuesday July 30, 2013
We received a letter from WFC stating, «Thank you for choosing WFC for your financial needs. We are in the initial stages of reviewing your application…» (Hahahaha)
August 2013
* In the month of August, we received 19 emails from WFC, each requesting additional information and documentation.
o 14 of the emails deserved a response
o Five of the WFC emails requested documents that had been sent several different times previously. (driver’s licenses, 401(k) terms, etc.) The reason the WFC associate cited for requesting the documents was, «I don’t have them in front of me.»
* Friday August 30, 2013 at 8:03 AM.
Email to WFC associate: «What is the status of our loan?»
* Friday August 30 at 2:00 PM.
WFC replied: «It is currently with the underwriter for review. I have you scheduled to sign on September 3.»
September 2013
* Tuesday September 3, 2013 at 3:30 PM
WFC calls to request a copy of our recent checking account statement because our loan has been in process for so long that the original statement is no longer current. We also learn that the September 3 document signing had been postponed because the underwriter «called in sick.»
* Tuesday September 3, 2013 at 4:00 PM
July 2013 bank statement is scanned and emailed
* Thursday September 5, 2013 at 2:00 PM
Email to Wels Fargo — «Any news on signing the loan docs?»
* Thursday September 5, 2013 at 2:11 PM
WFC’s email: «Sorry, the underwriter called in sick again today.»
* Monday September 9, 2013
WFC informed us by email that since our homeowners insurance expires on November 6, 2013, we must prepay our insurance premium for 2013 – 14.
* * Wednesday September 11, 2013 at 6:30 PM
Hurrah! All signed!
Buyer Beware WFC

Just did my fourth morgage with WFHM! can’t say enough good things about Mark Carroll! he handled a very tricky SECOND VA mortgage when most other brokers were unaware that was even possible. Mark goes the extra mile, is professional, and got me EXACTLY what I needed 4 times in a row…
Mark Carroll is licensed to do mortgages in all 50 states and has done 3 in WA and one in AZ for me…:
Tell him Richard sent ya!
Mark Carroll
Mortgage Consultant
Wells Fargo Home Mortgage
NMLSR ID: 403 920
P6796−011
3311 W Clearwater
Kennewick, WA 99 336
509.736.2630 Office
866.922.1704 Fax
509.420.0236 Cell
888.783.5611 ext 2630 Toll-​free