Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

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

My partner and I applied for a HELOC with Wells Fargo Bank. We have a mortgage with another bank, but they do n't offer these types of loans and we 've been banking with WFB for 40 years ( me ) and 25 years ( him ). At the time of the application, I told WFB there was a small medical bill ( just over $300.00 ) that I refused to pay because the company would not tell me what it was for, and it was sent to collections. The bank said that should n't be an issue. My credit score came back at -, which was a surprise to me, and they refused the loan on that basis alone. My partner 's score is -. Turns out I had another bill in collections for $130.00 that I did n't know about, and I guess that reduced my score. My score when we refinanced a year ago was in the -.


trying to get the loan to consolidate those and reduce our payments. They still refused and said it was only because my score was so low. Since then, my score has gone back up to - according to -. I have tried calling the underwriter contact at the bank multiple times but she has refused to respond to my requests to understand why this loan ca n't be approved when we clearly have the credit, not to mention the loan is guaranteed by the equity in our home. We 're asking for a loan that equals about one-third of the amount of equity we have.