3rd April 2007

Wells Fargo Home Mortgage follow-up

posted in Mortgage |

Well, here’s a follow-up post about this post I wrote about my experience with Wells Fargo Home Mortgage.Wells Fargo SucksWells Fargo Sucks

It’s been over a week since I was first contacted by a couple of “reputation management” people from Wells Fargo corporate. Roughly four days after the post was published, I was contacted by someone via the “contact me” link on the blog asking me to contact him at my convenience about how Wells Fargo could improve my experience with them.

First, I was surprised that a company of this size actually has people that do this kind of thing. And second, if you do a search on Google for the terms “Wells Fargo sucks” you should get a result set of about 200,000 web pages. The fact that there are so many web pages containing these terms, I was surprised that they contacted me. Did they also contact the thousands of other unhappy customers? Anyway…

I contacted the guy who sent the email, expressed my concerns and he assured me that someone from “higher up” would be calling me on the phone. I should mention that I emailed him with my full name, loan number and phone number so they could look at the account history, etc.

Two days later I was contacted via phone by a woman who didn’t seem to have a title but she mentioned that she was from Wells Fargo corporate. She attempted to verify the problems I was having but had the story all wrong. After telling her this, she explained that she would have to do more research and get back to me and this was about 10 days ago.

The very next day, there was a comment made to the original post about this which seemed to come from someone obviously biased toward Wells Fargo. Following is the comment:

  1. Collector Says:
    Have you not been reading the news? Mortgage delinquencies are at an ALL TIME HIGH and you wonder why they send you to the collection department when calling in AFTER your due date. No one can forecast when you have made your LAST payment on your loan so they will do everything possible to solve a potential problem. Grace periods were not created by the lenders, they were invented by regulators that felt �occasional� issues could arise that caused a payment to come in slightly late (IE- hurricane, ice storm, etc). Pay on time or deal with the �hassle�, it is YOUR choice.

I should mention that when someone leaves a comment on this blog (and most blogs) an email address is required and the person’s IP address is recorded. I did a quick lookup of the IP address and interestingly enough the IP address belongs to an internet service provider just outside of Des Moines, IA which is where Wells Fargo corporate is.

This person also put his personal email address on the comment which is composed of his real name. Again, a quick search of the name and Wells Fargo, in quotes, revealed a link to this Wells Fargo mortgage broker. Nice move!

Yesterday, I called in to customer service about an unrelated issue and surprisingly, I was NOT transferred directly to collections. Instead, I was correctly transferred to customer service but needed to be transferred to another department. During that transfer operation, their phone system dropped the line. Thanks for that!

I proceeded to dial back in two more times before I was connected to the correct department. So, I guess that the moral of the story is…..Wells Fargo NEEDS a new phone system.

It amazes me that a company this large can’t figure out that their phone system is as important as having friendly customer service reps. As a customer, those two are typically all we interact with when doing business with the company so shouldn’t they at least TRY to put forth a good effort on those two fronts?

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This entry was posted on Tuesday, April 3rd, 2007 at 6:00 am and is filed under Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

There are currently 9 responses to “Wells Fargo Home Mortgage follow-up”

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  1. 1 On April 3rd, 2007, Christopher Smith said:

    Bizarre. This out of a $100 billion company. But it’s interesting that they bothered to contact you and clear it up. Pity they just dug the hole a little deeper instead of making things better.

  2. 2 On April 4th, 2007, Trisha said:

    Wow, great sleuthing! After reading about your experiences, guess what–I definitely have no interest in using Wells Fargo. I particularly didn’t like the sneaky behavior on their parts.

    I’m an investor AND a realtor. I wouldn’t want to have to deal with that crap on our investment loans. And, I certainly wouldn’t want my clients to hate me for sending them to a horrible lender. Wells could make me look bad to my clients!

    Here’s hoping Wells Fargo gets the message and makes some big, positive changes!

    Another one to steer WAY clear of is Ditech. What a joke!

  3. 3 On April 4th, 2007, TheLandlord said:

    Trisha,
    I have also checked with some investor friends of mine and their experiences with Wells Fargo Home Mortgage all range from bad to worse. I’m not sure what their deal is but from the customer’s end, it’s definitely not a pleasant experience.

    Thanks for your comment.

  4. 4 On July 19th, 2007, How To Avoid Wells Fargo Collections Dept Via Phone said:

    [...] service along with mortgage financing. You can read more about their bad behavior in this post and this post. After I wrote the first post, I was contacted by Wells Fargo corporate as detailed in the second [...]

  5. 5 On October 2nd, 2007, Despite the residential housing slowdown, Wells Fargo & (Mortgage Quote) said:

    [...] Wells Fargo Home Mortgage follow-up | The Successful Landlord Blog Well, here’s a follow-up post about this post I wrote about my … and Wells Fargo, in quotes, revealed a link to this Wells Fargo mortgage broker. Nice move! … [...]

  6. 6 On February 25th, 2008, Little Sister said:

    I know all to well about Wells Fargo!!! I too have had a time with them!! 1st time buyers. first of all I didn’t have wells Fargo as a mortgage company my contract was bought by them about a yr after being in our home, not even having a clue the mortgage company sold it to THEY!! But after being in our home 1yr with the other mortgage company paying a great payment Then “WF” said we didn’t bring enough money to the table at closing which we did because we received a refund check from the 1st company stating we over paid.. So our comfortable payment when up by $200. causing a heavy burdened to us. For at the same time we bought our home we also bought a new truck. Wow you got it… we was being stretched.. Plus my husbands company went from paying for the jobs up front to after the job was done. so here we go Wells Fargo!!!yeah right then when we fail behind they would want crazy amounts to reinstate your payment plan with them..Which we would pay to keep our home from foreclosure. But this last time we would send extra money in with our payment to prevent any problems like this again. But unknown to us we where holding our extra funds in an account and charging late fees to our account not aware of this other account where are funds where being held so.. you tell me about that one.. when at the end of this year. We leave out of town unknown to us that there’s a problem, they made by holdings these funds we are face with now 2months of payments. We will need to pay this. For after using the funds for the late fees I would have to pay the rest of what they used to make a full months payment, plus the other months payment. And finding out what happen I was then told from the customer service person that they can’t take those payments if you don’t make this months payment too..For it would look as tho I was making partial payments subject to funds being put in another account so I said I could pay everything on the 22nd of this month as long as you note the account so where wouldn’t be any problems after being assured that there would not be any problems. I waited until the 22nd and went to pay this only to find out that WELLS FARGO FORECLOSED on our home and it was up to me to contact their attorney and I was devastated!! No paper work to tell me of this or No notices of any kind!!! Some company right!!! Still don’t know what we are going to due as the attorney said it was up for sale as of the 1st of April wow!! and we would have to pay their attorney fees???so here we go!!!!! SAD :0(

  7. 7 On April 24th, 2008, allison said:

    Boy oh Boy, Way to go Wells Fargo Home Mortgage. All these stories sound the same as mine. We purchased our home in 2000 with Wells Fargo Home mortgage. In 2004 when the rates dropped we refinanced with another company and found out that our home was in the flood zone. When I contact then in 2005 when we closed they said that our home was not in the flood zone and after contacting our borough, we came to find out that our home has been in the flood zone since 1972 after huricane agnes. So needless to say they sold us a home in the flood zone, with no flood insurance and also without disclaiming to us that the home was in the flood zone. Then in 2007 we became delinquent on our mortgage because our son had became ill with a neuromuscular disease called Spinal Muscular Atrophy, and I had to quit my job to take care of my son. We fell 30 days behind and when I called to ask for assistance they said sure we would be happy to help but don’t make any payments because then we woln’t be able to help you, send us all of your information and we will send it in for review. Sent it all in and called every other week to check on the status. Well at 60 days got act 91 notice and called the day I received them. They said oh disregard and don’t worry we will not let you loose your home, than at 90 days we received foreclosure papers, I was devistated. I called crying and they said well we don’t understand why they would have done that but we will take care of it, now there is a red mark on mine and my husbands credit because of their mistake. So, needless to say, I have contact a lawyer for both matters and am excited to see what they say.
    Allison :(

  8. 8 On May 18th, 2008, Rhythm Priest said:

    Wells Fargo financial and mortgage is the absolute worse. Everyting everyone has listed hits pretty close to home. The actualy branch I use is pretty good and at time I call the bank manager to help me with Financial Bank issues. The Financial Bank in Minessota is full of lying sacks of crap. Typical junior quota based pinheads. They completely lied to me about hitting my credit report and also lied to me about extra benefits for the cards a loans if I keep them all with WF….Nope, infact they screwed my credit score up by 20 points due to the accounts I signed up for. Their customer service department is even worse. The information they gave me on an issue ended up costing me a late fee of 39 dollars. I called back and the next person said the information was wrong, but could not credit back my 39 dollars. This is because earlier this year, I was in an accident an ended up in the hospital. The day I was released was 2 days after the due date of my credit card. I called and let them know what happened and they were kind to waive it. They said they were only allowed to credit one late charge a year. Mind you I have never missed a payment in my life with anything. Anyway, when she said she could not refund, i again told he that it was there fault. She said nothing they can do. I spoke to her “supervisor” who is really the next operator next to her, and she told me the same. I again called my local branch. They researched it and they even told her they would not credit it. This is one WF to another. My branch manager credited my personal account the money. I then proceeded to close all accounts having to do with WF financial. I am also transfering estate accounts I manage for my mother and seperately my father to new banks. Thats a bigger drop in the bucket, albiet a drop…

    Record calls, YES….Do it!!! What an idea..

  9. 9 On June 1st, 2008, Incompetence Rules At Wells Fargo Home Mortgage said:

    [...] we go again. Back about a year ago I wrote a couple of posts about how Wells Fargo Home Mortgage basically abuses their mortgage customers by treating them like [...]

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