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1. 1 On March 9th, 2007, Shawn said:

   I have these guys for one of my San Antonio houses and yes they suck. Your right, when I call in they give the third degree and I feel like a smuck. Plus to pay online costs $10 each time!! What a scam.

2. 2 On March 9th, 2007, TheLandlord said:

   The funny thing about the $10 to pay online is that it’s actually cheaper and faster for a bank to process a transaction online versus a paper check that is mailed in.

   These idiots along with Countrywide Mortgage actually make it LESS convenient for customers to submit payment via the internet.

3. 3 On March 12th, 2007, Clifford said:

   My experience with Wells Fargo has been the exact opposite. But then again, their office is right around the corner from me. I like face time, as oppose to phone menus which I always hate. Plus I also choose the wrong option and get routed to the laundry department.

   Anyway it’s a bummer that your experience has been negative.

4. 4 On March 12th, 2007, TheLandlord said:

   Hi Cliff,
   Interestingly enough is the fact the I too have spoken with a local Wells Fargo broker and they were nothing but nice. But then again, the local broker is actually doing sales so they would have to be nice.

   I guess it’s their customer service that is sorely lacking.

5. 5 On March 12th, 2007, Katie said:

   We do all of our rental property banking through Wells Fargo… wish I could say my experience with this company has been more pleasant.

6. 6 On March 12th, 2007, TheLandlord said:

   Katie,
   Please elaborate. I’m curious to know how their banking services compare to their other services.

7. 7 On March 17th, 2007, Collector said:

   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 “occassional” 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.

8. 8 On March 17th, 2007, TheLandlord said:

   Dear Bret Henderson (aka Collector),
   Wells Fargo had taken this aggressive stance since BEFORE there was any news of widespread mortgage delinquencies and you mortgage brokers were riding “high-on-the-hog” writing mortgages willy-nilly all over the place.

   Also, did you even read the post? The payment is not late until the 16th therefore if I call in before that, it does not warrant being transferred to collections.

   And another thing, when you make biased posts to blogs, be sure and mention that you work for Wells Fargo because it’s really hard to hide on the internet.

9. 9 On March 17th, 2007, Christopher Smith said:

   I’ve financed properties through Wells Fargo and it always went fine. But the problem with these mega-companies is that quality control is sometimes spotty. If some clerk erroneously put the wrong note in one of your records somewhere then they never seem to get it figured out - that might have been what happened with you. My advice: keep complaining. Posting a blog about it is a great step. Pretty empowering, eh?

   I had an issue with USAA that I wrote about recently about one of their investor-unfriendly policies. I love USAA, but when they enact policies/fees that alienate their customer base then we need to squawk.

10. 10 On March 17th, 2007, TheLandlord said:

    Christopher,

    I fully agree. I actually have been contacted by a Wells Fargo “reputation management” person and they are attempting to “resolve” the situation.

    My thought is that an aircraft carrier can’t turn on a dime so it’ll be interesting to see if they change their policies or not. There definitely WILL be a follow-up post on this subject.

    Check out the comment above from somebody named “Collector” who obviously works for Wells Fargo. I’ll let the people I’m dealing with at Wells Fargo know that this guy is definitely not helping their image at all.

    Thanks for your comment.

11. 11 On March 29th, 2007, The Successful Landlord Blog » Blog Archive » “Pirates” applying for tenancy said:

    [...] Ok, so this is just a quick amusing story before I rip Wells Fargo a new one in my next post, so stay tuned. [...]

12. 12 On April 30th, 2007, Patrick Saylor said:

    Bam, you burned Bret Henderson from Wells Fargo. I use BOA and the last day they will use for debiting my account is the 10th of the month. Does Wells Fargo do an automatic debit? Is the extra three to days of money in the bank worth writing check and using stamps or does Wells Fargo charge to debit your account vs you paying online? I use BOA automatic bill pay to send money to CITI for one house and CAPFED debits my BOA account for another. Bottom line: Use your blog to shame Wells Fargo into the internet age and don’t use them again until they do.

    Pat

13. 13 On April 30th, 2007, TheLandlord said:

    Pat, thanks for the comment.

    As a rule I don’t do automatic debit for anything. I need to look at everything anyway before I pay it and if I NEED to be late for some reason, I’d rather pay the mortgage company’s late fee than pay all the bounced check charges an automatic debit might cause.

    Wells Fargo does not charge extra for automatic debit to my knowledge but sometimes I need the extra time because, for instance, tenants don’t always pay on-time (under statement).

14. 14 On May 29th, 2007, robert breitigan said:

    I would just like to voice my opinion about another mortgage company. That is Chase Home Mortgage. They are a branch of J.P. Morgan / Chase Bank. After I was called repeatedly by their loan officer ( Jason Leoanard) I decided to give them a chance. This was the biggest mistake I have ever made. After two-months of being told everything was approved and fine, I recieved a call from a Vice-President( Chris Trimble ) telling me they would only do a loan at 5% more down and $400.00 more in monthly payments. This would be an interest only loan, not the 30yr. fixed rate I was promised. If there was ever a case for “predatorial lending”, then this has got to be the best! If anyone would like to get in on the class action lawsuit that is about to begin, let me know.

15. 15 On May 30th, 2007, Bruce said:

    Robert,
    Thanks for your input. Chase Home Mortgage sounds like they use bait-and-switch as a business practice. My guess is that you were dealing directly with them as opposed to a mortgage broker.

    A good mortgage broker can be worth her weight in gold! I work with one here who has pulled off a loan with 1 week to go before closing because another mortgage broker/bank screwed up the financing.

    Because of this lady, I have never lost a contract due to financing issues.

16. 16 On June 13th, 2007, Erin said:

    I also have had a terrible time with Wells Fargo Home Mortgage. My husband lost a job yet we still made it a priority to pay our mortgage on time. I knew we were going to fall behind, and as they always say….”call your mortgage company,,,, they want to work with you.” Every other time I called I would get some one who would speak to me as if I were an idiot. I asked a simple question of “Is there any other document I need to fax? Could you please double check?” The answer was ” I dont know why you are getting so upset with me. You should pay your bills on time.” After I hung up the phone I burst into tears…. and then I got pissed. Just because a person gets into a bad situation does NOT mean they are a bad person and deserve to be treated like crap. I want to work with them….. if all of these people werent working with them wouldnt THEY be out of a job?

17. 17 On June 13th, 2007, Bruce said:

    Erin,
    I completely understand where you are coming from. My very first call to Wells Fargo was to ask why I had received a statement or coupon book so that I could make my first payment.

    I was told in a very condescending manner, that I had signed an agreement to pay back the loan and therefore I must make payments on the loan.

    Well DUH. I think I understand the concept seeing that I had bought three properties that year and they all have mortgages on them.

    On another note, it’s very interesting to me that this blog post has generated more comments than any other on this blog. I think that if this keeps up, I may have to start a forum so that people can discuss their ill feelings toward Wells Fargo.

18. 18 On June 15th, 2007, J garner said:

    I’ve liked Wells Fargo for some time. However if my recent experiences with Wells Fargo Home Loans is an indicator of things to come I’d think twice taking out a loan here. First I think the bank branches are good and appear well managed. There really is an encouragement for you to use their loan departments and other investment services. Truly a enterprising idea to capture the customers assets in one bank rather than having the costumer use a mortgage broker or other services.. I don’t know if Wells Fargo Home Loans are outsourced because its hard to believe Wells Fargo employees could make such a mess. I’m truly an excellent Wells Fargo customer. I have 4 different accounts with them from Business checking to other lines. Have an excellent FICA score. So when using Wells Fargo I assumed no problems. Wrong ! The loan sat on the reps desk for 3 weeks with multiple excuses why it hadn’t moved on to underwriters. When nearing the date for closing Wells Fargo doesn’t have it ready. The big problems with Wells Fargo is a disconnection with its customer base. When making a complaint to their Executive Center your told you can only go up as far up to a regional loan manager. Truth and lending statements have the wrong address, wrong amounts, wrong interest rates. In Washington state this department is one of the worst I’ve encountered in my business experience. A medium to high income customer base has made Wells Fargo the place to do banking but once customers start leaving in droves-oh well. Joanne in Seattle.

19. 19 On June 16th, 2007, Bruce said:

    Joanne,

    Wow. Thats pretty bad. I honestly don’t understand why such a large bank would treat its customers in this way. But then again, Bank of America did it. It`s actually an interesting story.

    For a number of years I had at least two credit cards with Bank of America with pretty high balances. I was paying on time but any time I called into customer service I was treated like a child.

    When I pulled up at the drive-thru window to do some banking, I was actually yelled at by the teller. When I went into the branch and asked for some blank deposit slips (yes, slips of paper so that I could DEPOSIT money with) I was told that they don’t “do that.”

    Then, some time after that I sold a property I owned and netted about $175K and deposited it in my Bank of America checking account.

    Well, I started to receive calls from someone at a local Bank of America branch to let me know that Bank of America (get this) “values me as a customer” and that they can help me invest the $175K I just deposited. Bastards!

    Long story short, I paid off the credit cards and closed the accounts. I also closed 3 checking accounts and vowed to never do business with Bank of America again. I mean, WTF?!

20. 20 On June 26th, 2007, james said:

    Tax base assessment went up on my house. So, needed an increase in flood insurance, -I’m in a “flood zone”- a complete joke. WITHOUT notifying me, Wells Fargo purchased flood insurance “on my behalf”. When I protested I HAD insurance, and could increase coverage as needed, they STILL charged me for the time period before I was notified. Claimed they notified me. Bull. Will NEVER deal with those assholes again- EVER!

21. 21 On July 15th, 2007, Joseph said:

    I’m in the process of refinancing with a local mortgage company.
    I originally financed with American Home Mortgage and they sold the mortgage to Wells Fargo before it was time to make my second payment.
    I did not pick them. They picked me. After reading many of the posts here, many of the situations sound familiar. Purchasing insurance on behalf of the buyer is a trick most all mortgage companies play. I have dealt with many mortgage companies and I’m firmly convinced they are ALL crooked. Some are worse than others. Closing costs are one of the biggest rip offs of all times. They have a fee for everything, probably a fee for sharpening their pencils. It’s not bad enough that the interest paid over the life of the loan is double the cost of the property, we have to pay them a loan origination fee for the privilege of borrowing the money and paying them interest. I still don’t know what mortgage insurance is, other than a big ripoff. It does NOT pay off the loan in the event of death of the buyer. Apprasials are another racket. My home was just appraised a year ago, but that’s not good enough. I usually like to get kissed when I get screwed, but they’ve got you over a barrel. What do you do? I wish I knew.

22. 22 On July 18th, 2007, MONICA said:

    Wells Fargo Home Mortgage should be avoided by all people seeking a loan to buy a house. I was just informed today that although I know I mailed in my payment on July 5th or 6th, the company claims it received and posted the payment to my account on July 17th. As a result, I will have to pay late fees. There is no way they just received payment on the 17th. I’m probably not the only person this has happened to.

23. 23 On July 19th, 2007, Bruce said:

    Monica,
    I’m actually waiting for the same thing to happen to me. Every month, like clockwork, I mail my payment on the 9th. If the 9th falls on a weekend of holiday, it gets mailed before.

    Do you know, I get pestered by their collections department, weekdays & weekends alike and at all hours of the day, until the payment shows up in their system.

    I have given up even talking to them because the collections agents don’t care. They’ve done their jobs just making the call and getting me on the phone.

    Stay tuned for a post soon about HOW TO AVOID WELLS FARGO COLLECTIONS. Bastards.

24. 24 On July 19th, 2007, How To Avoid Wells Fargo Collections Dept Via Phone said:

    [...] bad customer 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 [...]

25. 25 On August 10th, 2007, Rick James said:

    I too am more than pissed with the level of service I have received from Well Fargo. They are rude, have no sense of customer service, and knowledge. Not only do I get the nagging calls for collection when nothing is late, but every time I call with a question i get the run around. Just recently I called (15 times within 3 days) with an Issue regarding them paying my neighbors property tax with my escrow and not paying mine. And not only did they pay the wrong taxes, but my taxes went in collections with the county. So when I called the yahoos, they stated, “Oh we do that all the time, we have department that handles just these types of goof ups”. WTF? Within all this now my Escrow is all jacked up. Wells Fargo is a JOKE! And I can not wait to move my mortgage to another company. WELLS FARGO SUCKS….

26. 26 On August 10th, 2007, Bruce said:

    Wow Rick,

    That’s a pretty bad one. They just seem really incompetent. I will agree that they have absolutely no sense of what customer service is.

    It’s amazing. The comments on this post just won’t let it die!

    Wake up Wells Fargo!!

27. 27 On August 12th, 2007, Byron said:

    Wow! My loan was bought by Wells Fargo in Nov. of 06 from Washington Mutual. It is a nightmare. I have been threatened with foreclosure repeatedly. Right now they are treating foreclosure in Sep 07. My income went from 40k to 20k and it has been hard. But I was just one month behind. They say they can take my home because I promised to pay on time. I got a loan to pay up the one month and I will be paying again next week. I will be caoght up then. But I then have to pay Sept. before the 16th. It is keeping me up all night. It is 1:21 Am now. I have been in my home over 10 years and they have been trying to take it since day one of having my loan. I am glad to know that others are having the same problems with the service dept. Now I know not to get so upset. But can they take my home for being late? And they have been charging me $15 a month extra because they are sending someone out to my home to inspect it. But They never knock on my door. It is a Nightmare I tell you.

28. 28 On August 20th, 2007, SGustafsson said:

    Wells Fargo is horrible. We fell behind on our payments, not purposely, due to change in jobs. First of all our loan was bought out by Wells Fargo in December 2006 we were previously with Washington Mutual. We try to workout a payment plan but it is completely unreasonable. They constant threaten foreclosure, when I call the customer service reps they say I don’t have permission to handle the account. I finally got to a manager and the manager stated that I have always had permission to talk about the account I just have to tell the reps where to look for the proper information, tell them to look under the notes screen. I was like, WTF? These reps are not properly trained, not only do I have to get harassing calls and treated like crap but I have to tell the customer service rep where to look on her computer screen!! How stupid. Not to mention the ones that call cannot pronounce my name or my husband’s name. Not only are they computer ignorant but they are illiterate. We have tried to work out a payment plan, but this is how it went…make a payment on August 30th in the amount of $1900 and if you don’t make another payment on September 1st in the amount of $1901.54 you will break the terms of this repayment plan. What the heck, what kind of repayment plan would call for a person to make $3800 worth of payment in 2 to 3 days…it is ridiculous. They sent out a letter with other options but refuse to give us thoses options. Not to mention ever since they bought our loan every month they send us a letter wanting to know if we are living in the home, well duh! They want to know if we are going to keep it, you fall behind and they treat you like a criminal, we are not even months behind. Not to mention they keep adding in fees. We would send payments from our bank and they would say they never received them and add on additional late fees, which was a lie because on the statements it showed the payment received. They suggested we don’t send in our payments any more via our bank, why…because its free. They, Wells Fargo suggested that all payments be made by phone yeah right and charge $15 more. Now they say they will continue to add in an additional late fee for it being paid through our bank instead of doing it by phone. Then they stated our house payment is going to go up in 2008 so they want to increase the amount we are putting into escrow…we are going broke trying to keep up. All I can say is wells fargo doesn’t care about its clients. You pay on time your a criminal, you fall behind and call them to let them know about a delay in payment and they treat you like you have the plague. I’ve just learned, i hang up on anybody that sounds like they have attitude and keep hanging up on them until i get to someone that has some sense. When I finally got to a customer service rep that was nice, she apologized to me and even agreed that the majority of the reps don’t know what they are doing, can’t read above 5th grade level, and can’t use the system properly. Now it is shameful when a few of Wells Fargo employees disagree with how they handle their homeowner mortgage accounts. Even worse, they had me fax in information and they never received it, the rep said, “i don’t know where that fax goes too but heres another number” i faxed it again, called in a week later, another rep says, “that fax number goes to another office, here is the right number to use.” i try to fax to it and it doesn’t work! I call again, get to a manager and was told all the numbers were incorrect, i was suppose to fax to a certain department and address it with specific information to get it to the right place; so i did it and they finally got the right info via fax. In conclusion, they are all around incompetent.

29. 29 On August 20th, 2007, Bruce said:

    THAT story is truly ridiculous! I honestly don’t understand how a company can behave this way and still be in business. All I can think is that because of their sheer size, they can treat people in this way.

    At one point, I was applying to Countrywide for a loan which was supposed to be a “no application” loan.

    This means that I already had a mortgage with them, they already had all my credit info, an established payment history and I was exchanging one loan for another.

    Well, the sales rep acted like he was doing me a favor by taking my application. One time he called and spoke to my wife and basically verbally abused her. When I got on the phone he completely changed his tune.

    This was totally unnecessary.

30. 30 On September 4th, 2007, ERIC said:

    GET THIS STORY. HURRICANE KATRINA FLOODED OUR HOME. WE STILL SENT IN MONTHLY PAYMENTS, THEY WERE RETURNED AND WE WERE TOLD WELLS FARGO IS SENSITIVE TO OUR SITUATION SO THEY WOULD ADD THE THREE MONTHS OF PAYMENTS ON TO THE END OF THE LOAN, SO OUR PAYMENTS WOULD NOT BE ACCEPTED. THREE MONTHS LATER THE TWO FACED BASTARDS DEMANDED THREE MONTHS OF PAYMENTS PLUS THE CURRENT MONTH DUE. WE WOULD FACE FORECLOSURE AND WE WOULD NOT RECEIVE ANY OF OUR FLOOD INSURANCE PROCEEDS IF WE DID NOT HAVE 5000 FOR THEM. WE SAVED THE MONEY BECAUSE WE HAVE DEALT WITH THESE KINGS OF THE DOUBLE SPEAK. WE PAID THEM BUT THEN WE HAD TO FIGHT THEM TO GET THE FLOOD INSURANCE MONEY TO REPAIR OUR HOME. WE PAID THE PREMIUM FOR THEIR LENDER BASED FLOOD INSURANCE. WE REBUILT OUR HOME PERSONALLY AS I AM A CARPENTER. WE USED OUR INSURANCE PROCEEDS AND LOUISIANA ROAD HOME GRANT TO PAY THIS COMPANY OFF. AFTER THAT OUR PAYOFF THEY SUMMARILY CANCELLED OUR HOMEOWNERS AND FLOOD INSURANCE, WHICH WE WERE TOLD THEY WOULD NOT DO BY THE PAYOFF REP. AS THE REP SAID “WE HAVE NO INSTERESTS IN THAT PROPERTY NOW”. THEY DID THIS AFTER WE JUST PAID IN FULL FOR AN ENTIRE YEAR. RIGHT IN THE MIDDLE OF HURRICANE SEASON. WE ARE STILL WAITING FOR OUR INSURANCE ESCROW WELL PAST THE FIFTEEN DAYS THAT THEY SAID WOULD REFUND US THE 2000 DUE US. NOW I CALL DAILY AND HARRASS THEM DAILY BECAUSE I CAN. WHERE IS MY MONEY BITCH???? I SMILE EVERY TIME I SAY THAT TO THEM. I HAVE AND I WILL CONTINUE TO TELL EVERYOONE I KNOW TO RUN FROM THE PREDATORY DOUBLE SPEAK BASTARDS KNOWN AS WELLS FARGO. SCREW THEM. CANT WAIT TO CALL THEM AGAIN TOMORROW. MAYBE I WILL CALL THEM TWICE. A PIECE OF ADVICE THAT HELPED US IS TO RECORD ALL PHONE CALLS WITH WELLS FARGO. THEY HATE THAT.

31. 31 On September 10th, 2007, Bruce said:

    Eric,
    That is truly an amazing story. I’m just waiting for the class-action lawsuit against them. The only problem with that kind of lawsuit is that the lawyers make out like bandits and the class members get a crumb.

    Anyway, I have a feeling they will get theirs in time.

32. 32 On September 29th, 2007, Luly said:

    My mortgage loan got recently transferred to Wells Fargo, it was being serviced by Washington Mutual for over 5 years. Never had a problem with WM, but as soon as Wells Fargo got a hold of that loan, it’s been a nightmare after another. They plain and simple SUCK. I had them for a car loan as well, and that’s when I found out how much they sucked. Every time you get a different rep on the phone you get a totally different story, and then the only thing that the another rep says to defend their actions is “well, the rep you must have gotten before didn’t know what they were saying.” What kind of crap is that? This is a total nightmare and I am so frustrated with them I have no idea what to do any more. They should not be in business and the thing is I didn’t give them the business both my car loan and my mortgage loand got sold to them. I didn’t choose them, we have no rights to choose what lender we want any more. They do what they want, when they want.

    The last issue I had with them, I got no where so I had to get an attorney that cost me $1600 to take care of the problem. Finally I was able to clear it off, but without that attorney they would have done what they wanted, and they would have taken away my home for no reason, just because their records were so screwed up and people there obviously do not know what they are doing at all. What retards and morons they have working there! I am sick of them and I wish that by some miracle they would go bankrupt and have to close their business! I’m sorry for the few people that work for them that are good at what they do but I have been dealing with them between the car and the house now for over 6 years…never ever have I gotten anyone on the phone that knows what the hell they are doing!

    They have a a million things that single them out as the worst lender out there:

    1. They don’t keep accurate records
    2. Reps don’t know what the hell they are doing
    3. You get cut off millions of times before you actually get to speak with someone (their phone services sucks)
    4. They are rude
    Only to name a few….

    I have had other lenders such as Washington Mutual servicing my loan and they were AWESOME…always very pleasant and helpful…I really enjoyed having them.

33. 33 On October 10th, 2007, Cresso said:

    I have had several Wells accounts and loans over the years - always working with one branch that was nationally recognized as one of the top Wells home mortgage performers. In April 2007 I began the process of looking into a refi - returning to the branch I had done business with previously, but grew gunshy when after a face to face meeting - it became clear that this nationally recognized branch manager was attempting to shove me into a loan that wasn’t right for my needs. Her sales pitch was that ‘equity is dead money’ (!!!!!) and that you should borrow the max. Absolute nonsense. In addition the rates she was quoting were significantly higher than similar products offered by other primary lenders/underwriters (not brokers or non banking mortgage companies mind you). So I inquired about rates at another Wells Home Mortgage branch in my area and was quoted .25% less than what the initial branch had quoted - across the board for all loan types. After discussions I decided to go ahead with a refi of my first with a small cash out (still

34. 34 On October 10th, 2007, Chad said:

    I guess it’s just going to happen with a large company like Wells Fargo (The largest retail lender in the US) that a small portion of their clients are not satisfied. All large companies have a small contingency that isn’t happy. To be fair, Wells Fargo is the top ranked mortgage company for customer service year in and year out. They are the only AAA rated bank in the United States. A company like this wouldn’t continue to be the largest retail lender for 14 straight years if they weren’t satisfying their clients. They were founded in 1852. I certainly don’t think they’d be in business 155 years later if they weren’t doing things right. I’m sorry to hear about the experiences on this site.

35. 35 On October 10th, 2007, TheLandlord said:

    Well well, another Wells Fargo Home Mortgage employee. It’s interesting to see the response to this blog post when it ranks #3 in Google for the phrase “Wells Fargo Home Mortgage Sucks.”

    Chad, I think that there is something to be said for the fact that I own a number of rental properties all with mortgages from different mortgage companies and Wells Fargo is the only one to stand out in this way.

    It is true that any larger company will have its detractors but I think that Wells Fargo’s mortgage servicing operation takes the cake. Maybe it’s the leadership of that division to blame? I don’t know, but the horror stories keep coming. Just take a look at how long ago the original blog post was written.

36. 36 On October 18th, 2007, Daniel said:

    Washington Mutual sold our home loan to Wells Fargo last year. No problems with WM, but Wells Fargo really does suck. Due to a medical problem and a high one month expense we got 42 days behind on our loan. They sent an inspector to our house to see if it was lived in. He rang the doorbell and in a very nasty tone told us he was a “field inspector” with Wells Fargo. I asked why he was here, he said to make sure the home was lived in. OK, I answer the door so the house must be occupied. I have a no trespassing sign on our front lawn. I asked if he saw that. He said that does not apply to Wells Fargo, that they can inspect the house whenever they want. Wells Fargo really sucks. I called the 800 number and they said I must pay $15.00 for the inspection. I wish I still had Washington Mutual servicing my loan.

37. 37 On November 16th, 2007, Jenn said:

    Our family is in a living nightmare with WF. Our home loan was sold to WF 2 months after we bought our home. Just a few months after that we found out we were being moved out of state. Immediately the house went on the market, to our dissmay the house finished building right as the market began to drop in FL. We were told we would be “lucky” to get what we had paid for our home. Six months after we bought the home we moved. Before we ever moved I called WF and informed them we were moving and we were having trouble selling the home. I was told “we can’t help you until you fall behind.” We struggled for 6 months to live in 2 states. Our income in the new area was lower, but so was the cost of living. We cashed in our 401K’s trying to keep up with rent and a mortgage. After about 7 months we had to let the mortgage go. At this point the house was not even appraising for what we owed. I warned WF 6 months before we ever missed a payment that we needed some help. We have not made a payment since June 07. We applied for a deed in lieu and it was denied because we had a new realtor (they require you be witht he same realtor for 90 days before you will qulaify for deed in lieu). They told us to go for a short sale so we dropped the price. In August they sent a “property preservation” team to “secure” our home…the amn they sent broke into 3 doors to get into our home, setting off our alarm and causing approx $3,000 worth of damage. When police responded to the alarm the man showed them a paper on WF letter head that said the house had been foreclosed and now belonged to WF. We were upset yet glad to be done with it. Only problem was, we weren’t done. In fact, WF holds us responsible and then informed us we are not in Foreclosure. This intrusion upset my husband to no end and in Sept he gave up a great job and we headed back to FL to “save” our home. I had to borrow money from my terminally ill Dad to apply for a loan modification. After 3 weeks in Fl we realized the economy is really bad in the area we once lived and my husband was not making any money, so we decided to get back out of FL, luckily they had not filled his spot and took him right back. We notified WF it was not going to work out and we wanted to persue deed in lieu again. They had promised to return the money for the loan modification ($2600) but I have seen nothing yet and the money was never applied to the loan. They say it is sitting in “suspense”. A week after we left Fl for the 2nd time we received an offer on our home. We applied for the short sale. After weeks of telling us nothing, they call and say they did a drive by appraisal and appraised the house for $23,000 over the offer. They stated they would take no less than the appraisal so our buyer walked. Our appraisal was only $5000 over the offer. I begged them to take the offer, after all we have private mortgage insurance…they said no. So now we ahve to reapply for the deed inlieu. In the mean time they also sent a letter to our insurance co to cancel our premium and return the money to WF. Then they tell us to get insurance or they will get it for us. They have added on so many “fees” that we now owe more than we even paid for the house! The pay off is now $295,000 and it appraised at $242,000!!!! They are crazy! And to boot, we thought at least it would be over soon, after all we have made no payments since June, right? WRONG!!! We still haven’t even entered foreclosure! And the investor from WF told me on the phone tonight, “well at least you still have time to sell it” It’s been for sale for over a year! It’s not going to sell at their price. I want it to foreclose. The sooner it forecloses the sooner we move on with our lives. I hate that my credit is ruined, but I have a daughter with medical needs. Her health has been horrible this year because she requires a semi-sterile enviroment. My son was diagnosed with the same problem last month. He has lived in a sterile home his entire life because of his sister, that is why the doctor thinks he is just now showing symptoms. Owning a home for us is not a financial thing, it’s a medical necessity. We can’t afford to invest that kind of money in a rental. I have explained this to WF and all they say is “it will get better.” When? The more non-payments that show up on my credit the longer it will take before I can buy a home. My daughter may not have 4 years to wait for my credit to repair. The bottom line is WF doesn’t give a darn and they have no clue what they are doing or why. If we had fallen on hard times and wanted to keep the home they would have already booted us out and foreclosed. Now that we need to get rid of it, they wont do anything. I think they are enjoying destroying our family. Does anyone know if there are any class action law suits in the works? My realtor is persuading me to go after them…

38. 38 On November 17th, 2007, Seth said:

    That is my EXACT experience with WFHM!!!!!!

    Except, I mail my payment on the 1st, and then they call me a few days later and leave a message that says “thhsss iss welllssssss fsfsss ffsssssssssss ffffffffffffffff sssss ffff” and continues with about 30 seconds of loud, clipped static. EVERY TIME. FOR MONTHS. I tell them it’s messed up every time, but no one cares. I call them and get directed to the collections department. They ask me all sorts of rude questions, and I ask them why they are asking me this. I ask them if they got my payment, they look it up, and usually say that they have, to which I ask why the are harassing me with unintelligible voicemail and sending me to collections, so which they ramble about company policy.

    I finally switched my payment to electronic and send them early so they would stop terrorizing me with threatening static. I guess that’s their plan? Get people to pay early and apply it later and skim the interest?

    Anyway, they also spammed me for months, kept switching my loan from paper to email, and were generally a pain in my ass. My favorite was when they sent me paperwork asking me to pay them $250 for the ability to pay them extra towards my mortgage. Apparently they think I shouldn’t be allowed to just go and pay off my loan or pay it down without first paying them more.

39. 39 On November 19th, 2007, kevin said:

    Wells Fargo Home Mortgage has been a dissappointing experience for me also. I am not sure what happenend or changed in the last 5-10 years, but suddebly the became A-holes… they documentation process as well as their reps have major issues. Regardless of what proff you send them.. they decide that what they have is “correct.” I was doing a refi with them.. which got delayed for 6 months because they told me I had a Lein on my house I needed to clear up… I called my lwyer.. he said no lein has ever been recorded on your house .. ask for the “docket” info .. Wellsfargo refused until I had claw my way up to someone in middle management who eventually gave it me… only to find out…it wasn’t me nor my did it refer to my property…”oops” what the response I got from them…and then they went on to explain that they use ” third-party” title search compnay and that the company… they offered no appologies and proceed to tell me thy have to re-run credit because the “app” and its approval is too old… the then renran and incresed the interest rate.. citing issue in the news regarding bad home loan deals…

40. 40 On November 30th, 2007, natha anderson said:

    i have been banking at wells fargo for 3 yrs and they messed me over on my first bank acount i had with 30 over braft fees that added up to $800.00 and i they gave me a regauler acount that i opened and now the new acount they gave me 15 over draft fees that added up to $500.00 and the first account with the $800.0 over i put a freeze on it becuase the were letting more stuff go throw it and i was caping on it and the sent it to colections and than the charged it off when o was trying to pay it off now it is on my credit report ass a charge off and it all was there damb over draft frees and now they are trying to do it to my new acount. i had $200.00 in there and than i went to get something to eat and my card did not work and i called they and they said i was $120.00 under after every thang pending and after 5 days later the acount said $499.00 under and i have not used the acount at all than 5 more days go by and my wife gets her work check direct deposeted in to pay they rent that is $698.00 and the bank says that we are $29.00 under that is bull shit. i have had nothing but problems with wells fargo. and i am a computer tech and i put there new computers in for them in phoneix az. and a lady took off $100.00 of my first acount as a one time good faith thang she said and they will not do that to my new acount that is bull crap!!!!

41. 41 On December 2nd, 2007, Can't take it anymore said:

    RBC mortgage financed our newly built home in January of 2005, before we made one payment wells fargo bought our loan. They sent us our payment information and for over a year I made every payment on time. Then the letter came. You owe us 7,000 dollars. WHAT???? Long story short, RBC put a provision in our loan that set us up to not take a hit on unimproved property taxes at the end of the year - wells fargo took it out. I had asked them at the origination of our loan why the payment was lower than what RBC had arranged at closing? WF said “They made a mistake, we fixed it.” I owed them 5,000 dollars plus the “required balance of my escrow acount” My monthly payment went up over 500 dollars a month, I’m still not out, it is seriously straining me financially.

    It just doens’t seem right that they screwed up and I am responsible for it. Can I do anything beside be angry and hate them.

    I CAN’T TAKE IT ANYMORE!!!

42. 42 On December 31st, 2007, Bruce Berry said:

    To Jenn
    Please contact a lawyer, and the police, unless there is a “COURT ORDER”
    or you signed a “Release” the Wells Fargo boys are guilty of Breaking and entering. The police may resist and say its a civil matter but it is not.
    Persist until they have you sign a complaint, but make very sure you did not sign any release or any court orders occured. The District Attorney is the final say on this issue, do not stop until you get his decision.
    Your Attorney can file civily for damages, including punitive for stress and unlawful entry.
    I am a Landlord, I would love to just throw bad tenants out into the street. But we all have to go by the rules. Wells Fargo included.

43. 43 On December 31st, 2007, Bruce Berry said:

    Cant take it anymore:
    Unless you signed another paper after the loan was transfered to WF the
    contract/loan must remain intact to the original promise of performance.
    In short, nothing can change unless you agreed to it in the original
    contract or you signed a new agreement allowing the change.
    If you did not agree to any changes here is what to do.
    1. Continue to pay according to the original agreement.
    2. Create a nice letter explaining exactly what the original agreement is
    in direct laymen’s terms.
    3. Make copies of the letter.
    4. Mail it certified mail to Wells Fargo executive handling your loan.
    5. Save the certified receipt.

    It is well worth the $100 or so of legal time to show a Attorney
    your loan documents and verify WF has no basis, have him give his opinion in writting.

    6. Do not let the Attorney take over correspondence. As distressing as
    the situation is do not take your eyes off it.
    7. You are now a free man. If Wells Fargo takes you to Foreclosure your Attorney can sue for harassment, False litigation, etc….
    8. If Wells Fargo prevails then your Attorney was Malfeasant and can be
    sued for the damages. (This never happens on such a direct case)
    9. Save everything. Discuss your case with Realtors, bankers, lawyers(friends), businessmen, online.
    10. Time and perseverance are everything in this arena. You have the advantage that it’s about you. This is the reason Attorneys are never sued, When its personal the clock doesn’t matter. What firm wants to go against a guy willing put in hundreds of hours just to win a few bucks.

44. 44 On January 8th, 2008, Bill Bartlett said:

    I have had precisely the same trouble with Wells Fargo - always 1 month EARLY in fact and calling them to find out why I get monthly collection letters, so much so that I contacted my state’s DA in the capital and, guess what? 1200 complaints to their office . . .

    Not good at all.

45. 45 On January 9th, 2008, TheLandlord said:

    Bill,
    Wow! 1200 complaints. Amazing! You would think that something like that would “persuade” them to change their methods.

    They finally stopped that nonsense with me but only after writing this blog post and appearing on page 1 of Google’s search results (3rd one down) for the search terms “Wells Fargo home mortgage sucks“

46. 46 On January 31st, 2008, ALi said:

    I have had problems with Wells FArgo since they took over myMortgage from GE CAPITAL. Looks llike we all have basically the same problems. You send them copies of what they ask for and then they ask for something else, not related to the original problem. THey have taken me to foreclosure and I have sent them copies of all payments along with the back showing cancelled checks. Now they say it is insurance lapses that I had, and inspection fees, when no one ever knocked at my door, nor did I ever hear from them telling me that inspector was coming over, those fees are over 500.00. My attorney gets letters from their attorneys that do not even show breakdowns of fees that they are asking for. I have NEVER in my life seen such unscupulous beings i my llife. THey repeat the same thig over and over like a broken record, they love to try to give you a heart attack. I hope they pay for their mistakes….only that they think they are always right.
    They ARE BAD!!!!!

47. 47 On February 5th, 2008, Chaz said:

    This is exactly how I’ve been treated and still am treated if I miss my 1st of the month payment due date. The customer, who by the way is paying an enormous interest charge amount after a 30 year loan, should never be treated as such. I have never missed a payment and the collection’s person (Tamika) stated there was no grace period… I nearly went through the roof - also I was called at work no less! To be sent to collections the day after my mortgage payment is due 100% wrong, I agree if it’s not there after the 16th but one day after it’s due? Come on, especially when the a-holes incorrectly applied one our mortgage payments to the wrong acct! WTF-WF! I am 100% dissatisfied and I have heard nothing but bad news about this company. They treat me as if I will default on my loan. I would never willingly due business with this sub-standard company again.

    Rockingham County, NH

48. 48 On February 12th, 2008, I hear you said:

    I have real issues with WFM which I will go into great detail on later, however, I learned today that Wells Fargo actually receives billions of dollars a year from the federal government for various “services” (Department of Education grants WF oddles and oddles of our tax dollars every year, to name one agency) so, it looks like they are in so deep and cushy with the feds that we will never get rid of them.

49. 49 On February 18th, 2008, Anna L. said:

    This was interesting to me because I have a mortgage with Wells Fargo, also. The fact is that payments are due on the 1st. Period. You do have a grace period, but it’s still due on the FIRST. As long as your payment is received by the 15th you are not charged a late fee. That doesn’t mean it’s due on the 15th.

50. 50 On February 18th, 2008, TheLandlord said:

    Ok, here we go again with Wells Fargo employees making comments on this post. (See comments 7 &

    Just look at the number of comments on this ONE blog post. I think it`s safe to say that Wells Fargo is pretty much hated as a mortgage company.

    Hmmmmm, I wonder why? Bad customer service & company policies? Hmmmmm.

    Also, if you`d like me publish your IP address Anna (above) to prove where you posted from, let me know.

51. 51 On February 28th, 2008, Carlo said:

    WOW, can’t get over everything I’m reading. I’ve been banking with WF for ever. I don’t have a mortgage with them and after reading all of this I’m pretty sure I’ll never get one. I just wanted to say that although their tellers and managers in my particular branch seem OK their customer service over the phone REALLY SUCKS regardless of what kind of banking you do them. I recently saw a charge of $10 on my business account with an obscure title/name. I called WF CS to ask what the charge was for. They informed me that I had made “GET THIS” too many deposits that month and I was being charged a fee for going over my deposit limit. (WTF!!!) So I asked her “are you telling me that I am being charged a fee for putting money into your bank which you then turn around and lend out to others and charge interest on?” Her response was “ sir I’m just telling you what the charge was for, I don’t make the policies”.

52. 52 On February 28th, 2008, bob said:

    as a recent former employee i can understand why wells is concerned about employees use of blogs

53. 53 On March 9th, 2008, Not that Im defending wells said:

    Ok Not that I am defending Wells as there Student Loan dept ris as bad. However working in the industry, let me shed some light.

    1. Loans are due according on the first of the month according to the terms of the note you signed at closing. Also in with those “other forms” you signed the right to recive contact after the legal due date.

    2. As stated above by collector, Grace periods are not for use every monhth, they were designed by the buarocrats in Washington. Most Loan Servicing Corporations (aka Wells, Countrywide, GMAC, USAA, and others) use the same list of private and goverment Investors. Those investors include Freddie Mac, Fannie Mae, HUD, VA, Gennie Mac.

    3. Its those same govt investors that forced a graced period that also requirer loan servicers to call borrorers the day after the due date.

    4. If you want to get technical When a loan has a Due date of the 1st any day after that is concidered late. Late Charges however are not assessed untill after the grace and neg cred does not occur until the account is 30 days late.

54. 54 On March 29th, 2008, They are crooks! said:

    We had no problems with our mortgage until WF took it over. Suddenly, they said we are “behind” over $4000 in payments although we have never paid late. They put us on a “forebearance” plan of payments $600 higher a month. We have been paying it while we try to figure out WHY we are $4000 behind, which is impossible. They say if we don’t pay this amount per month they will foreclose. They will not or cannot tell us what this extra money is for. We keep calling and they keep telling us different things and it is like they are talking Martian. It makes no sense. This has been going on for five months and we cannot afford to pay this amount every month any more. And the amount they say we are behind never goes down. They just keep saying our payments are going into a “suspension account.” We hired a lawyer who called and HE doesn’t understand what they are talking about. He instructed them to send us a statement of our payments for the past year. They agreed. Did we receive that? No. Instead we got a form letter about how they want to work with us in this “distressing situation” to save us from foreclosure!!!!!!! We CAN pay our mortgage (the original payment) but we want to know WTF is going on. I am giving this ridiculous letter to our lawyer on Monday. I think now he will believe how stupid/deceitful/dishonest these people are. Our credit is ruined and our savings are cleaned out by this “forebearance” plan that we cannot afford. We are going without medical care and groceries to pay it and our utilities are in danger of being shut off. I cannot believe how much I have come to hate this company.

55. 55 On March 29th, 2008, Oh, one more thing said:

    Oh, I think at first our lawyer thought we were exaggerating until he actually talked to WF and experienced the true horror for himself. He thinks the custom rep. was just reading things off a cue card at random no matter what question he asked because the answers given had nothing to do with the situation. Not only were they unable to give him a coherent explanation of why we had to pay $600 extra a month (and he is a real estate lawyer) but they also disconnected him twice.

56. 56 On April 8th, 2008, Nick said:

    “This is Wells Fargo Home Mortgage Collections, is this Mr. Nick YYYY?”

    “Yes, and I’m so glad you called me back.” (note, they called me back. This is important for later)

    the Sob story I related: We owe $175k, it’s worth $175k. No realtor will touch it right now. Can’t afford the commission anyway. Loan is current, but they’ve “adjusted” the escrow again. Job moved, family moved. Boss let me stay (I work in IT) to finish the remodel and sell. Been FSBO since JUNE 2007. One nibble, but he wanted to buy for $130k!!! Anyway, it’s now time to go or not have a job. Furthmore, my mother is now financially dependent on us (long story). So, it’s time to pull the plug on this, I need to sign the house back over to the bank, what’s the next step?

    If I don’t leave, my job is kaput and I can’t pay anyway. I’m supporting two households now. That, the escrow increase, the price of gasoline even, and now I can’t pay the May payment.

    Was told that a) since the value equals what I owe, they will not short sale, NOR deed in lieu. B) since I’m not behind, that they can’t do anything anyway.

    So as a previous poster pointed out, try to do the right thing BEFORE it gets bad and they won’t help. Wait until it gets bad, and they charge you fees, and still won’t help.

    I told her that there’s no choice in the matter. That they either let me sign the deed over, or I just walk away. The house is in great shape, minus the last of the floor tile and a tub surround. If I walk, then the yard goes to crap, I turn off the power and water, etc. I’m sure it will be in great shape if they wait.

    The lady on the phone tells me that all I can do is to try to get more creative in marketing the house. WTF? OK, so if I can’t find a buyer on my own now, AND have no money left to do anything else, AND the market is tanking, AND I’m about to be unemployed anyway, what will marketing do, exactly?

    “That’s all I can advise you to do”

    “OK, then I need to know where the closest office is, so that I can take my keys in”

    “You need to call the customer service number on your statement.”

    “I see. So, I request assistance, am told that since I’m a good customer and am on time, that you won’t help me prevent it getting bad. You call me since I requested assistance, and tell me that WF won’t help me. Now when I ask how to find your nearest office, you want me to hang up and call WF. Is that about it?”

    “Yes sir, you need to call the customer service line on your statement”

    “FYI, I’m not sending you another red cent ever. AND I’m waiting for my attorney to call me, AND I may be in the house now, but I’m packing up and leaving by the end of the month.”

    “I’ve noted the account, is there anything else I can help you with today?”

    “You’re kidding, right?” And with that I hung up the call.

    Waiting for a call back from my attorney now on what the next step is.

57. 57 On April 9th, 2008, MJ Avila said:

    I have the same problem with Wells Fargo. I’ve had the loan for 7 years now. I’ve never had to pay a late fee. It is a rental property and the tenants have until the 5th to pay, so I send out the payment to WF on the 8th. I have until the 15th according to the loan docs. Since last year they call my home at all hours, weekdays and weekends to harrass me until they get the payment. They wake up my toddler and interrupt our family dinners. I am outraged!

58. 58 On April 14th, 2008, A Hilton said:

    Wells Fargo is the worst Mortgage Company I have ever dealt with. According to the loan documents we signed, we have until the 16th before we are assesed a late fee. They begin to call our house around the 20th, of the previous month before a payment is due on the first of the following month. With the stupid message, “Please contact Wells Fargo Home Mortgage”. Thats about 2 or 3 times a day before the payments are actually due. Then they have another rep call trying to sell us Mortgage Life Insurance, another trying to sell us some kind of Home Warrenty Crap, another trying to sell something else. Then about 7 or 8 in the morning someone else calls asking all sorts of nosey questions, degrading ridiculous questions about stupid CRAP. Verifying address, “do you intend to keep this property”, etc…… Around 9 or 10 at night, same thing. We always either don’t answer or if we do, we let them have it. We have NEVER been charged a late fee, EVER. We have always made our payments on time. I don’t understand how these people can call every single month 10 days before a payment is due,and continue to call long after the payment is received. One month about 4 months ago, we actually sent in two payments, do you believe my husband had to call them and ask them why they were calling when we clearly wrote what that payment was for, and they had the nerve to say it was not posted although they had the payment for over 22 days……… it was in “suspense”. What….. I guess they can’t read and see what the money is for, but, don’t apply it to the loan cause someone might miss the chance to call and ask if we plan to leave the property. We NEVER get letters or correspondance other than regular monthly payment notices with no late fees or past due amounts. I don’t understand why this company spends this much money hiring folks to harrass people who pay a mortgage payment on time and in some cases early every single month. When we call we too are transfered to the “collections” for no reason. Now, I make it a point to pay it right at the 16th before late charges can be added, and I am changing my number. I hate WF and I can’t wait until 6 months are up, because I am getting rid of them. I’m refi and going with another company. And for all you WF jerks posting here, I have at least 5 family members and 3 friends with this same issue. So no it’s not just me and all the people (by the way looks like my post is #58) on this post. I’ve only counted about three WF sympathetics. It is everyone, I hope WF is out of business. I know they will be in my town and my state because NO ONE will take any mortgage from them. The only way I know for them to get a mortgage loan is to buy it without consent from a homeowner. Then the homeowners will run for the nearest bank to get it out of their hand. NO ONE wants to deal with a company that treats great customers as though they are degenerate inbred idiots. Which by the way must be the qualification to get a job there. Because I’ve not talked to one person I believe has enough sense to even pick up a phone without some instruction. Hence the disconnected calls.

59. 59 On April 20th, 2008, Jay e said:

    You know, when the payment is due on the 1st of the month, and you wait till the last minute to send it in half way through the month, ITS LATE! Its a grace period for those in a bind, not so your always abusing it. If its that hard, why not send in your payment on the 16th, so its there by the first of the next month, then you wont have any problems for YOUR mess up and being sent to collection every time and wonder why they are asking all the typical questions because your always late, and border line default, as it would seem to them since your always cutting into the grace period????

60. 60 On April 20th, 2008, TheLandlord said:

    Jay
    You OBVIOUSLY work for Wells Fargo. Of the 59 comments on this post, yours is number 4 with this stance. And the other three? They work for Wells Fargo. It’s been verified.

    You know your comments are transparent to the readers here, so why bother?

61. 61 On April 24th, 2008, Customer Service REP said:

    Half the people that call customer service at wellsfargo don’t even read their loan documents your DUE DATE is the 1st of the month not 16th that is a courtesy that WF gives graces period. So if your payment isn’t by the 1st it is considerate late, wellsfargo also has to deal with a lot of dumbass home owners who don’t even know how to read a bill or do basic math. People are demanding and they don’t realize how dumb they sound when they call customer service!

62. 62 On April 24th, 2008, TheLandlord said:

    Ok, let’s take this one point-by-point shall we?

    1. You’re a Wells Fargo employee. Let’s hope Wells Fargo takes real good care of you in life for defending their anti-customer tactics. Oh, that’s right. They’re a huge corporation and they’ll lay you off as soon as they deem it necessary. Sorry. Bye!

    2. Wells Fargo is SERVICING mortgage accounts. Why they think that they can behave differently than ALL the other mortgage companies is beyond me. They’re forgetting what business they’re in. Let me know if any of these ring a bell: banking services. mortgage services. customer service. They’re in the S-E-R-V-I-C-E business (dumbass).

    3. So the customers who don’t deal with mortgages, foreclosures, short sales and/or customer service in their daily lives/jobs are “dumbasses”?

    I’d like to see you in a situation where you’re a customer at say, an auto repair shop and instead of coming in and saying, “My engine mounts need to be changed because the engine is not idling properly,” you say, “It just runs rough.” Would that make YOU a dumbass?

    How about if you call up your IT guy and say, “I can’t print.” Would THAT make you a dumbass?

    Go ahead and keep posting comments like this and maybe I’ll write some posts about Wells Fargo that will rank #1 in Google’s search results for the terms “Wells Fargo” instead of ranking #1 for the terms “Wells Fargo Home Mortgage Sucks” like I do now.

63. 63 On May 31st, 2008, D. Allen said:

    Yes, bait and switch does seem to be the Wells Fargo SOP.

    In our case, we have a signed General Loan Acknowledgment for a 30 year fixed loan and then out of the blue 7 years later, we get a notice in the mail telling us we have a *magical* balloon payment due. We faxed them the original loan docs signed by THEIR loan officer in 2001 and still we can’t get this resolved. Now, they refuse to accept our loan payment (while still charging interest, no less). They will accept our payment “if we also pay the balloon note”. Of course in the alternative, they’ll be happy to write a new loan at 3/8ths of a point higher than we’re now paying, plus $4500 “lender fees”. Either that or we can pay a “reset fee” which will add another 23 years to our existing 22 years on the original 30 year loan.

    All I can suggest for anyone experiencing similar treatment is to keep calling HUD and your local state government offices. This is what I call the worst kind of fraud. Personally, I can’t afford to pay $400/hr. for an attorney, so all we can do is keep complaining until WFB tries taking our home away from us. (and no, we’ve never been late on a payment either).

64. 64 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 [...]

65. 65 On June 8th, 2008, Michelle said:

    WF employee aka dumbass….So what if the payment is due the 1st. Grace periods were put in effect for a reason. If the employees were concentrating on the more important things their clients needed( like getting their house short sale or deed in lieu etc) than calling & harassing folks who pay their payments by the 15th, maybe less houses would be foreclosed on & sold, in turn more houses being bought & sold which in turn would make them more money stupid!
    Oh yeah they would rather waste payroll harassing the folks that can afford to pay than helping the ones that really needed the help out there. Didn’t our moms raise us to ask for help when we needed it? Well I guess us who medically needed help do not qualify. Well I hope stupid here doesn’t ever trip over his ego. There just might not be anyone there to pick him up because we will all be at the homeless shelter.

66. 66 On June 9th, 2008, Shelly said:

    So, I’ll try & not make mine too long. I knew I was going to lose my income permanently 3 months before it happened as I was on paid leave. We called WF to let them know & asked what to do. They only have us two options. Go on the market & get full price or short sale. Being first time owners & not knowing much ok. Got a realtor & she suggested short sale as we didn’t own the house long. My health was unexpected & a huge loss of income Not lot’s of equity. So we called WF back & they said well we can’t help you until you miss some payments. Don’t make your next payment & then call us. So we did. The girl then told us if we miss one more payment they could put us on a payment plan which we thought they were putting the payments at the end of the loan. So, we thought that gave us some time to sell. She asked us to send a hardship letter in. We did, mail & fax. With-in two weeks of that we got an investor to make an offer & put earnest money down on the house. This is when it started. I have all the document to back this by the way. It took weeks to get WF to finally get the paperwork. They kept saying it was lost, not received, missing this or that, on & on. We made call after call. The investor mind you made call after call. He was great. This was a good couple of months. Short version…tons of calls & faxes later…WF told us it all was good not to worry about making any payments that we needed to do another hardship letter, hud counseling to make sure we understood what we were doing, appraisal (they were sending one out) & a few other documents. We were so excited to get this done.This started March 2007 when we notified them. June 2007 they told us we would close about August. So we moved out because it’s hard to find rentals here & there was one. December 1,2007 still no closing. Tons of more faxing & calls. They had the nerve to tell the investor we never did our paperwork from day one. HOLLY HECK! He completely freaked on them. Of course many people & calls later oh well actually the person you dealt with got fired so you have to start all over again. OMG! So, ,mid Dec. the investor who lived out of town asked us to move in so the house would be taken care of as they said it would be at least a couple more months. So we did. He offered to help with moving expenses. So, 2 months after that, another buyer came & offered us a complete cash buy out of 100% of what we owed plus moving money. YEAH! We called the investor & he said take it call right away. We did, she had the money in hand. WF took almost 3 weeks to get someone I could talk to that knew anything. Then I finally got a number I thought was right & had the new buyer call & they told her well, they are in a short sale so you have to do a short sale & put an offer in & we’ll contact the first buyer & see if he has a counter offer & see who does more & go from there. Long story short this was another month. They harassed her so much she backed out. So the original guy kept his stuff in place so we could do this. Mind you my health was terrible. Now top it with the stress. So, we are back to faxes, calls etc. We end up have to file chapter 13 bankruptcy. Sept. 2008 Can you believe how much time has gone by??????? And they are saying this is going to short sale still. So our attorney is shocked but says hey you can keep the house if you want? Right! Whatever. They say we can get the payments where we can afford them. Ok go for it. So the investor is excited for us. What a great guy. He is amazed. He said you ever go to court, I have all the paperwork & I’m so there. I’ve done this for years & these folks by far are the worst people I have ever dealt with. So, we get some paperwork on the house & we said ok we’ll keep it if the payment is what we can afford. The letter comes from WF saying they will work will us. Believe it or not 2 days after that we get a letter saying you have 2 weeks to come up with your payment in order to keep the house & they raised the payment almost $500 over what it was to begin with. How in the heck were we going to pay that & in 2 weeks. We had to pay our trustee payment in court & our attorney fee in 2 weeks as well. Not to mention we couldn’t afford the stinken payment at the original payment how could we afford $500 more. Of course we had to deny it & I said screw this I’m done!!! Done done done! Let it go back. These guys are____________! Here we are now yes 2 years later in foreclosure. They even sent us a letter after our attorney called & said they can’t pay that much stating you have option….you can do forbearance, short sale etc. The nerve. Like they would do such a thing. Now we are sitting here five days before auctions & not able to find a place to move. Our town is small, we are denied because of bankruptcy & paid a few times about $90 in application fees to apply for houses or apartments just to get turned down & all I did is two years call and ask Wells Fargo what to do because in three months I’m going lose my income as I have become ill & I’m losing my career. I did what they said! I found a buyer! For the dumbass that makes excuses for them. This is a very long story short & I have so much documentation of everything & everyone we talked to so you can’t get out of this one! I even have a couple of witnesses. Sucks I don’t have the money for a lawyer. These folks need sued!!!!

67. 67 On June 12th, 2008, Judy Lyons said:

    Sorry to hear about your mess. How awful for you. My bankruptcy lawyer told me to foreclose. How would I find a place with 4 dogs, two cats, one kid and a fresh bankruptcy. The rent would still 2,ooo. So I’m sticking it out.

    Anyway, make a report to your Congressperson.They need to be able to track this bank’s behavior toward you. I dealt with WF also. Spoke to people who didn’t care, constantly got transferred, could not talk to any one person. Did hardship letter, asked for missed payments to be put on end of loan. WF does NOT send out letters of denial which is why it’s so hard to track and deal with them. They want no proof out there that they are AHs - I had to call repeatedly to find the status of loan payments. WF Mortgage will not allow the homeowner to have a contact person. By then I drained my 401K to pay back months and was told house was in foreclosure with 2500 foreclosure fee attached.

    The HELOC department was far more helpful and gave me one person to deal with and she was extroidinarily helpful.

    Now after having pulled myself out of the foreclosure, I filed bankruptcy so I keep my house. However, the tenant I rented to in March is a scammer and is milking me for 30 more days of living here rent free until trial. I am drowing and so scared I’ll be back where I started. I’m out another 1500, and she leaves PG&E on almost 24 hours. The LL can’t retaliate but apparently the renter can retaliate all they want without reprecussion.

    My financial life has turned to mud–yet again.
    I will never rent again without all my protections. F’em

68. 68 On June 29th, 2008, JoAnn,Upstate,New York said:

    I owned a home in Florida for several years before it was damaged by the 2004 huricanes.I repaired it and than learned it had a 200 ft. sink hole under it.You can guess!I suffered a great loss.I relocated to upstate NY and purchased the home,May 11 of 2006.I ended up with Wells Fargo Mortgage by accident!This was induced by the realtor and a loan agent from Wells Fargo.Sort of like a bait and switch deal.I had a loan set up with another company who also sent out an appraiser to the home I contracted March 13,2006 for a purchase based on a appraisal.Keep in mind that I had worked with this other company and they helped me a great deal through my crises and loss and I had a relationship with them,although they are a big company,they did help me and I had nothing but trust in them.The realtor told the appraiser that the property had already been appraised by Wells Fargo.Of course the appraiser contacted me,since I was still in Florida in our sink hole house,packing and closing everything up.I contacted the realtor and he told me he had arranged everything through Wells Fargo without my consent.Time was running out and I had no choice at that time but to go with Wells Fargo.I asked for the appraisal and was told the realtor was present when the appraisal was done byt the loan officer and realtor.The loan officer of Wells Fargo told me the appraisal is with the home office and I would be sent a copy.We were to close on the property at the end of March 2006 or first week of April since I had to be out of our Fl. home that was sinking and could not longer be lived in.We moved up to NY and the closing was delayed but the realtor arranged for us to move into the home knowing that the closing would follow.I am still asking for this appraisal and run around between the realtor and loan officer.I get to closing in May,11,2006!I had to pay 2 months rent to the seller who delayed the closing because her and her divorced husband could not get together for the closing at the time it was suppose to close!At closing,I asked again for the appraisal since I was placing 20% down payment,paying all closing cost and paid $400.00 for the appraisal.Again,I was told it would be sent to me but the property appraised for more than $30,000.00 higher than the selling price and had to be sold due to a divorce between the sellers.I did have an inspection and the sellers claimed all the repairs were performed required on the inspection report.I began to ask questions about the repairs and again for the appraisal and was advised by the attorney who I paid for myself and also the same attorney for Wells Fargo,that I was not to back out of the contract or I would lose the money I just paid in closing cost,the down payment and $1000.000 good faith deposit.I was afraid to say anything else and felt bullied into this purchase without all the truth of lending,appraisal value and represetation.I also had no place to go other than a motel and try to find another home for my family if we terminate the contract,which I had every right to do based on a true appraisal.
    With all of this,six months later,I am still waiting for the appraisal from Wells Fargo.I requested it again from the CS and was sent a Rel’s report.What is this?Where is my $400.00 appraisal.The report is a market report drawn up by a net program,owned by Wells Fargo!By this time,I learn the sellers lied about the repairs,the property and the fact that is it the subject of contamination caused by IBM.I needed a new roof which leaks and causing damages to the ceilings and walls.I needed a new foundation that is crumbling but was painted over to hide the defects!The second bath was remodeled and new flooring placed over a rotted floor cauisng the toilet to fall through!Now I learn that Wells Fargo took my appraisal money without providing me with the appraisal that they represented to have done!I have good credit, a decent income and well qualified for a loan.My loan is a 30 year fixed although because it was a small amount barrowed,my interest rate is 7%.I contacted Wells Fargo and told them I needed repairs and according to the rel’s report provided to me by Wells Fargo,I have a great amount of equity in the property and I needed a equity loan or second to fix the roof and foundation.It was through Wells Fargo loan department that I learned that I over paid for the property and had no equity and the property is over financed.I have had an ongoing fight with Wells Fargo every since.I was refunded $325.00 of my appraisal after fighting them over this.They held my appraisal money and stated they paid $75.00 the Rel’s report,owned by them, and the fact that this report is a elevated report that states my property is of value when it is not is another problem.This is outright FRAUD.Wells Fargo thinks they are above the law and have indicated so in ther letters to me.They think this is a done deal.To add to this insult by Wells Fargo and the bad CS,the run around,the concealment of no appraisal,the misrepresentation,the taking of fees that they did not perform on and depriving me from the right to cancel the contract based on the truth of in property value,and the fraud committed by the sellers in a disclosure document,I was double billed by my homeowners insurace and I quit them and learned that even if the house burnt down,it would not be replaced or rebuilt over the contaminated ground it sits on!So now,Wells Fargo adds a excessive rate of FPI and states I must pay.Although I did get a new policy and paid it for one year and it is just the amount needed to pay off the loan and relocate me if the house burns!In spite of the bad faith,deceptive,fraud committed by Wells Fargo and the team of sellers,realtor and lawyer,I have made every house payment on time,without 1 late pay.I get a letter from Wells Fargo that they are calling the pay off for my loan and will foreclose on me if I do not pay them for the FPI.
    So what now?I will file a law suit with or without a lawyer and I will force this all the way to the supreme court.I plan to show what this company oes do to people and thinks this is ok!So all you CS reps from Wells fargo best rethink your approach when you speak to the customers and on this blog about how great you are and Wells Fargo.We all know you and you are being recorded,documented and stated in every court record,media communication and your names are being used for contacts when you will be confronted by the law and will be held accountable for those broken laws.It is not only the subject of truth and lending,but the criminal acts that are induced through Wells Fargo that has elevated not only the market reports supplied to inncent buyers by your deceptive,dishonest tactics,for profit,the damages will also be elevated so get ready because you are going to pay………….

69. 69 On July 10th, 2008, Keith said:

    Here is my situation. I have been trying to sell my home for almost 6 months now. Nothing, a bunch of showings but no offers. I have accepted work elsewhere and my family (5 kids and wife) have been living at the house while I am in a different state. I called Wells Fargo and asked for the ability to rent the house they told me it should not be a problem just write a letter. Which I did. Four months later I get the response that I can not rent my home out. Would Wells Fargo truely want me to be the million and oneth foreclosure? Why not let me make my payments on time? Anybody? What should I do?

    Thank you

70. 70 On August 4th, 2008, Update said:

    Last we heard from WF is that we now have to pay $9,000 or they will foreclose. A year ago when they bought out our mortgage we had great credit and never a problem making a mortgage payment. A few months after that they said we owed $4,000 and put us on a “forebearance” payment plan of an extra $600 a month that almost depleted our savings and ruined our credit. Even if they some how lost two mortgage payments there was no way we could owe that much but we went along while we hired a lawyer because we were scared not to pay. The lawyer is still trying to get a straight answer out of them (see previous posts) and they now say we owe $9,000. The more we pay the more we owe. Everytime we call we get a different story and different instructions. Is there a secret suspension account they are sticking all the money we send in and then losing it? Are they setting fire to it? We don’t know. We have another meeting with the lawyer. If he doesn’t get a straight answer I don’t know what we will do. At this point they can keep the freaking house.

71. 71 On August 9th, 2008, Steve said:

    I would like to inform all Wells Fargo Home Mortgage customers who are experiencing hardship and hoping to get a loan mod (in a timely manner) or any other type of help the truth how loss mitigation actually works so you may make your own judgment.

    I have posted several times the difficulty I was having with faxing documents to Wells Fargo Home Mortgage to get the process started.(you have to have all this info
    received and transferred to your negotiator first to get this process started)

    Today on Friday I made 2 phone calls . One to the Veteran’s Administration and one to Wells Fargo Home Mortgage. I went into a local Wells Fargo branch on Monday and they faxed 3 pay stubs, 2007 tax documents. Everyday, I received the same answer, never received, takes 2-3 days to transfer the image.I called Veteran’s Administration as this is a VA loan. They called Wells Fargo and they told them the same plus that they have never received the hardship letter that they told me that they received 1 month ago.

    The VA called me back and told me to fax the info to them and they would fax it to Wells Fargo. (The VA monitors this whole process and does step on their toes)
    Fine, I went to the local Wells Fargo bank and asked the rep if she would fax these again. Not only did she fax these documents, she called the loss mitigation department and asked them to please explain how in the world could they have not received these documents as this is a Wells Fargo bank.How many times do these documents need to be faxed by this bank? The loss mitigation rep would not talk to the bank associate even though she verified her employee number and bank info to prove she was a bank employee.

    Also I was informed by the local associate that all faxes go straight to the computer-no paper at all. The loss mitigation rep made me ask the local associate to re-fax these documents again and told me only partial documents
    came through. (Shortly afterward the loss mitigation rep was able to read all the faxes on her her screen all of a sudden) The bottom line is I caught loss mitigation rep with the local employee as my witness (she had to hold back her true thoughts) in a complete lie.

    All loss mitigation does is lie, lie and lie.This has
    been going on for 1 month. They do this deliberately to purposely delay and make this process last as long as possible hoping the customer will give up. Now I’ m told that all documents have been received and transferred
    to my negotiator.(

    So Wells Fargo customers you have to fight them hard, Really hard- call them everyday let them know this info. Now I want the President of this disgusting company to call me for further discussion. This is not the end of this story. I am hot. How many hours and days have I spent on this problem?

    I intend to inform Hope NOW, The Veterans Administration and the general public what they are really doing. Oh I received a letter today, and I quote “We realize that you may be experiencing financial difficulties and could use assistance to take care of this situation. We may be able to help.

    Yeah right!

72. 72 On August 21st, 2008, SUZANNE said:

    #1 FACT: Wells Fargo Mortgage history in court as a “Predatorial Lender” dates back several years. ACORN Non-Profit Organization was successful in helping thousands of people who were all being forclosed on at one time, for no reason. MY SUGGESTION: Search on the internet under ACORN HOUSING to see to awards to these victims and the method of actions taken. ACORN HOUSING WAS SUCCESSFUL AT PREVENTING THE FORCLOSURES and they have also helped low to moderate income homeowners to refinance as well in order to get out of “Predatorial Lending” situations” no matter which company you have your mortgage with.

    #2 Use proof such as Certified Mail, Fedex Receipts, etc., print up emails and use confirmation sheet with facsimile, when communicating with fraudulant cases. These are admissable in court. HAVE EVERYTHING YOU SAY IN WRITING AND some sort of PROOF OF RECEIPT. Also, signature required. By Express Mail, you can go online later and type in the receipt number and they will email you a printed signature, contact name with the address for proof.

    #3 Use some sort of an organization that will advocate for you and that will be a good third party witness.

    HOME IS WHERE THE HEART IS…SO STAND UP AND FIGHT!
    GOOD LUCK AND GOD BLESS!

73. 73 On August 22nd, 2008, Gerald said:

    Wow, it is amazing how anyone believes any mortgage lender, or bank, cannot make mistakes or have a percentage of incompetent employees. The vast majority of loans with any servicer is handled 100% accurately. It is unfortunate if some fall through the cracks, but it is going to happen, just like Identity theft. Be glad you have financing with the best company protecting your ID. Yes, I do work for WF, not in Mtg, and I am not a cheerleader, however I have worked for many lending institutions, and no one - not even Countrywide, is any better or worse. The numbers of transactions taking place on a daily basis is mind boggling. You cannot expect a telephone rep to fix anything. Enough said, try to make your payments before the due date, and alleviate a lot of heartache.

74. 74 On August 24th, 2008, D. Arden said:

    Gerald,

    At best, you speak from lack of experience. Payments made on time don’t excuse the lender fraud for which (in my eyes) WF practices on a daily basis. Even being presented with proof, they still refuse to correct the coding error which is responsible for my having to refinance with a different lender. The fact that you admit not working in mortgage would suggest that your comments, albeit well meaning, are without any basis of fact of knowledge. I and my company are removing $1M worth of business from WF. After a year and a half trying to get someone @ WF with the brains and wherewithal to fix a simple error (theirs), enough is enough already!!

75. 75 On September 3rd, 2008, Gerald said:

    D Arden, unfortunately you fell through one of those human/computer cracks I was talking about. It is a shame simple errors cannot be resolved with the stroke of a key and I agree, there will still be incompetent people and unmanageable errors. I have extensive experience as a Mortgage lender as well as processor and underwriter. Hopefully your new bank is not handed over to the FDIC, putting your $1MM business at risk, if something goes wrong, let me know, that’s what I do now.

76. 76 On September 9th, 2008, Princess said:

    I work for WF collections. Credit card not home mortgage. While there are aspects that suck within the job.. like people who really are having a hard time but we can’t really help and I will never understand why we jack up interest and late fees on someone who didn’t have the $25 min due anyway.
    I will tell you though that the MAJORITY of the dumb asses I talk to are not in a hardship… while they might gripe that WF is harassing them.. why can they not pay the $25 MIN PAYMENT ea month but can go spend $100 per week on fast food, $500 at macys, Video games, strip clubs, bars… etc.. If you owed me 10 grand and you didn’t pay and I saw your checking acct.. you would wish you had a phone call instead of the baseball bat at your knees.
    I called a lady who owed $800 on her card and had over $30,000 in her checking account. All I asked for was $150 payment towards it after not paying in 4 months.
    If someone owed you money how would you act?
    I will tell you when people get the bitch side of me… when they call in talking shit from my “Thank you for calling WF”…I get cussed out and then they ask “can you waive my late fee?” — Are you serious? Am I being punked? Did you just not call me all sorts of names and yet you have the nerve to ask ME for something? No, really?
    Now let’s look at the bigger picture.. WF charges off after 7 months of no payment… each month in credit cards we charge of 18-20 million. When you lose that kind of money every 30 days by all means let me know how you collect money owed to you?

77. 77 On September 10th, 2008, Princess said:

    more to say… I have read a number of similar posts and I don’t defend WF as a company but like I mentioned above you’d be surprised by some of the jerks we as employees who do not make millions have to deal with day to day.
    I never feel the need to defend WF as a company because I don’t get paid enough to do that. I don’t always agree and most of the time I couldn’t tell you why they do what they do but when you call us.. you are not calling John Stumpf (CEO)and the funky ass attitude needs to be dropped. You might be upset but watch your mouth on a business call. Our computer calls out before we can review the account so we are just as surprised as you are about the call. Sometimes the computer dials in error and connects us.. who gets cussed out, the computer