Wells Fargo Mortgage Complaint

Wells Fargo Mortgage department,

Home equity loan or line of credit Credit decision / Underwriting Georgia

On - -, 2015, my wife and I applied for a Home Equity Line of Credit with the local ( -, GA ) branch of Wells Fargo Bank. The application was sent to Wells Fargo 's central loan office for processing and a - - was assigned as our loan officer.. On - -, we received an email from - - informing us that our application was declined and that we would receive a letter explaining this decision within 10 - 14 days. As of - -, 2015 we have received no such letter or explanation. In addition to being a violation of the Fair Credit Reporting Act, the lack of any explanation places us in a difficult position since we would like to apply to another financial institution for a HELOC but are reluctant to do so until we know why our first application was declined so that we can take corrective action.