Wells Fargo Mortgage Complaint

Conventional fixed mortgage Credit decision / Underwriting

Wells Fargo Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting California

I am selling my house in - - and entered escrow with - and - -. They were working with Wells Fargo to attain their Loan for purchasing my home. They were given and pre-approval letter and then later received a voicemail from their loan officer at wells fargo telling them explicitly that the loan had been approved and the appraisal had been ordered. The appraisal was then completed and both parties then signed a document with a closing date of - -. I then began the process of moving and rented a truck and trailer to take my first load out of state to my new home. While I was in the process of driving this load I got news that Wells Fargo had decided to now put the loan back in underwriting and were not approving it as previously mentioned. Ultimately Wells Fargo decided to change their mind and deny the loan then causing the buyers to cancel escrow. I now have been put out a lot of money and time and not to mention half of my stuff is now stored in another state that I can not go to yet since I have to now go back to the drawing board and try to find a new buyer. How is it ok for Wells Fargo to call and leave a voicemail giving verbal approval for a loan, order the appraisal and have both parties move forward with signing closing date documents? I have this voicemail and will attach it to this complaint if possible.

Wells Fargo customer in California
Jun 26, 2015

* Source: CFPB Complaint Database

Wells Fargo response to complaint:
Closed with monetary relief

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Contact Wells Fargo

http://www.wellsfargo.com/
(866) 249-3302
[email protected]
420 Montgomery St Frnt
San Francisco CA 94104
Wells Fargo
Wells Fargo

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