Wells Fargo Mortgage Complaint

Wells Fargo Mortgage department,

Home equity loan or line of credit Application, originator, mortgage broker Alabama

Re : Home Equity ( Wells Fargo - I have been a mortgage customer with Wells Fargo since -/-/-. During those years, I have never missed a payment and have always paid on time. After years of residing in my home, I applied for a home equity line of credit on two occasions, first on -/-/- and again on -/-/-. During the -/-/- application process, I briefly worked with - - ( - ID : - ; at the - - location in -, AL ). After - - reviewed my credit, my credit score was - ; however, there was incorrect student loan payments listed on the paperwork she reviewed. Therefore, the next day, I attached the correct student loan payments in an email to - - and left several voice messages to follow up with me. I never received any follow-up calls nor emails from - -. On -/-/-, I received a letter from Wells Fargo stating that my application had been denied due to " Income insufficient for existing debt ''. The results could have been different if - - would have submitted the correct payments instead of giving up on my application because of the initial


On -/-/-, I decided to try the process again at another Wells Fargo Branch and this time worked with - - ( - ID : - ; at the - - location in -, AL ). - - was outstanding at obtaining the correct paperwork from me to correct the student loan payments that were initially incorrect during the first application process. I provided documentation of correct monthly payments, which significantly decreased my debt to income ratio. Any information and documentation that was requested from me, was promptly given to Wells Fargo. Once I supplied - - with the correct paperwork, the problem started with the underwriting team. After a few days, I was assigned a Home Equity Specialist, - - ( - ID : # - ). - - 's initial contact with me was on -/-/- via voice message. At the time of his call, I was in a work conference ; however, I returned his call within that same hour. In spite of this, - - called my banker and threatened to take my application away because I refused to get in contact with him, which was not true. However, I called him numerous of times after his call and even left - voice messages. After several attempts, I called the number back and asked to speak with any specialist that could assist me. I was connected with a - - ( - # - ) who was of great assistance and answered any questions that I asked of her. - and I discussed possible dates that different steps of the process may be completed and those dates were documented on " yourLoanTracker ''. After a few days, - - deleted those dates. - - and I actually communicated via phone on -. During this conversation, I asked - - questions about property rights and - - told me that he would find out more information for me and will get back with me. Instead, I was informed that - - canceled my application, documenting that I was going through a divorce. I never advised him to close my application ; he was only supposed to be finding the answers to the questions that I asked of him regarding rights to my property. After this situation was brought to management 's attention, they denied my application citing that during the `` drive by appraisal '', my home was not worth anything and that I did not have enough equity to pull from the home, which is definitely not true. I was told that I could fight this and get another appraisal ; however, after all that I had gone through with Wells Fargo, I decided it was not worth any additional efforts with this company. I have written to their Home Equity compliant address ; however, I have not received any response from Wells Fargo.