Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

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

I applied to Wells Fargo - branch to re-finance a second mortgage - also called a line of credit. I lifted a freeze from all - credit reporting agencies before doing so. I called Wells Fargo because I understood from another mortgage company that only a few banks will re-finance a second mortgage. It is a small second, $15000.00. I spoke to loan officer named - - at length in -. Wells has a minimum of $25000.00 but - said it was do-able as long as my house appraised at $110000.00 which is no problem in the -, Fla. neighborhood where I live. It already hit $110000.00 - years ago when I took out the loan with - -. - was very positive after getting information on my income. But, the same day, when she said she pulled my credit report, she said I had a score of - which would not even qualify me. That was -/-/-.


a few days later I was able to speak with a representative with - and I told her looking at my reports, I can not see where my score would suddenly drop. She said my score, in fact, was - on that day, at that time - AND THAT WELLS FARGO NEVER viewed my credit report, it would show up, which of course they all do. I called -, and said there was no Wells Fargo looking at my report, and that my score then that day was -. This was on -/-/- because I waited until I got the paper report sent to me from -. - said to the effect, oh I do n't know how " she '' got that score - meaning the underwriter, and to scan and email my report. I do n't think so. It is clear, they just saw where my house is an made a wrong assumption that it is in a bad area. I live in - -, which is an up and coming area, a very hot market in fact. But if you are behind the times, property values might look depressed as - - is an old, re-gentrifying neighborhood, and has a higher crime rate. However, the bungalows are in high demand. A comparable to my house sold in one week for $ - higher than my loan and it is only increasing. I do not believe their turn down was based on a rational score, or on anything rational, but was a case of red-lining, or discriminating against me based on where I live. It has nothing whatsoever to do with my ability to pay, or my house as a property. I do n't think they even looked at my credit report, but someone who works at Wells just blew me off for reasons that are illegal. Please find attached a copy of the page that came with my credit report from - that showed my score on that day. My score has only gotten better, too, after - inaccurate items were dropped.