Wells Fargo Mortgage Reviews

1.6 out of 5 stars
9 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

1.5 out of 5 stars

Customer Service

1.5 out of 5 stars

1.5 5
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These reviews were written by current and former borrowers in the last year.

Jul 14, 2017
A nightmare
Anonymous Borrower

They don't do proper projections. They charge 6 times for escrow cushions instead of the standard 3 times(by law). You must have a strong math background to get them to realize you aren't going to be fooled. I will refinance asap!

Not even the mortgage specialists knew how to explain to me the outcome of the analysis!

They also attempted to do two analysis in one calendar year.

more ...
Jul 06, 2017
Home loan on new construction-NJ
Anonymous Borrower

These people are horrible with new construction mortgages. They miscalculated my property taxes which are added into my mortgage and we ended up owing back taxes after being in the house for 1 yr!!! Our mortgage ended up going up almost $300!!!!! I hate this company!  Who has an extra $300 to pay on a FIXED RATE mortgage?? We just got comfortable with our monthly budget and then this happens because they don't know what they are doing! The builders were still buidling at the time we purchased our home. Some neighbors were already there about 2 yrs so why coudln't you assess our property based on theirs?? You had something to go by!!  I need a laywer......

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Jun 20, 2017
After closing, things went downhill

The application and closing process were pretty smooth.  I received lots of calls and what seemed like genuine caring from my mortgage consultant and lending specialist.  The closing agent/company had some choice words about Wells and the way they "handle" things, but it went smooth from my perspective.  Maybe I was shielded to all the shenanigans.

Anyway, things have gone downhill.  I closed 45 days ago and then I received an email about a week after closing asking me to set up automatic payments from my Wells account.  I thought "great" and set it all up, including the offered extra principal payment.  Next thing I know, I log in to my online banking to find a late fee and a notice that I am 18 days late for my first payment.  Called the 800 number and they can't figure out why my automatic payment didn't get made.  The settings were 100% correct, but it just didn't happen.

Things progressed w/ the operator not taking any responsibility.  They offered to refund the late fee and said that it wasn't late enough to be reported to any credit bureau anyway.  I don't care - I don't appreciate being told I'm late.  I wanted a clean payment record and now I have a late payment for payment #1.  I got so mad I did end up hanging up the phone.  I don't know if he processed the refund of the $150 late fee.  I don't even want to wait in queue to talk to those idiots again.

This is on top of not receiving a single email, text, or piece of mail about paying my mortgage - ever.  I receive an offer to take their survey once per week, but nothing about my payment.  I've got a dozen accounts w/ Wells, including checking, savings, credit card, business checking, and now mortgage; I'm enrolled in text banking, online banking and every other kind of banking they offer.  No notice at all.

This is the type of nonsense you should expect from a good-for-nothing bank.

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Jun 14, 2017
The worst decision you'll make today
okiereader Borrower

There are thousands of horror stores about Wells Fargo Home Mortgage.  They're all true.  We had to use Wells Fargo to buy our home in 2003 because they were one of the only lenders available to us at the time thanks to an alcoholic mortgage broker that we ended up using because of a realtor recommendation.  Over the course of 14 years, we've had our downs and our downs with them.  They first threatened to foreclose on our house right after the housing bubble, not because we were behind, but because they, on a whim, sent a home inspector to our house that reported we didn't mow our grass to his liking.  This, according to Wells Fargo, destroyed the soil.  After that, they started calling us on the second of the month saying they had not received our payment on the first.  Why?  They had to wait on the mail, which, according to their "account collection specialist," was a privilege we did not have.  After several rounds of refusing not to make additional payments over the phone while they waited two or three days on the mail, we ultimately had to take our phone number away from them.  They would call on any day, including weekends, as early as six o'clock in the morning threatening to foreclose on our house because our payment was one day late.  The tactics that they employed to try to get additional payments out of us were vicious and cruel threats as if they were talking to street trash, not customers.  If we'd owed them one penny that was late, I would be more understanding, but we didn't owe them anything.  According to our loan contract, our payment wasn't even late until the fifteenth of the month!  This went on for weeks until we finally forbid them from calling us at all for any reason by forcing them to remove our telephone number from their system.  They lied every way that they could and tried their best to run up "inspection fees" to make sure we kept our grass mowed to their liking.  It was only about an inch and a half tall, which is not tall at all, especially living in a rural area with such a large area to mow. They even went so far as to call FHA and HUD to report our house vacant even though we were living in it at the time to clear a path to foreclose!  We spent more time putting out the fires that they started than we did at work.  They finally backed off after our attorney sent them a certified letter asking their motivation for forcing us out of our home.  Did they have a better offer to sell the house for more than we paid or were they just being nasty because they thought that we would sit back and take it?  Of course, they refused to respond.  They simply clammed up and wouldn't say anything. Disappointing?  No, it was scandalous.   

Now, many readers will see this and think to themselves that we provoked this response from Wells Fargo in some way or form.  We are not the typical home buyer.  We do not buy above our means despite constant reminders from real estate agents that we should have bought all of the house we could afford, which we refused to do.  We were more interested in owning land instead of more house than we could ever use just to impress our friends.  We also keep larger reserves of cash than the average person in the event that life happens, which it sometimes does.  We were never once late on a payment and never once let our house fall into disrepair.  We had trouble believing ourselves that Wells Fargo was this bad until we were up to our necks with them and they continuously pulled every scam and scheme that they could to force us out of our home.  After 14 years, we had absolutely enough of their constant nonsense and useless product peddling so we finally just bit the bullet and paid our mortgage off in full.  It was a bitter pill to swallow that left us broke afterward, but the feeling we have of just having Wells Fargo out of our lives forever more than makes up for eating Vienna sausages for dinner in peace instead of having to put up with their constant barrage of dishonest schemes.  Now, our home is ours outright and Wells Fargo can kiss where we can't because we're done with them once and for all.  My best advice to anyone that considers Wells Fargo for a home mortgage is DON'T DO IT!  It'll not just be the worst decision to make today, but one that will haunt you for many years into the future.

more ...
Jun 14, 2017
okiereader Borrower

There are thousands of horror stores about Wells Fargo Home Mortgage.  They're all true.  We had to use Wells Fargo to buy our home in 2003 because they were one of the only lenders available to us at the time thanks to an alcoholic mortgage broker that we ended up using because of a realtor recommendation.  Over the course of 14 years, we've had our downs and our downs with them.  They first threatened to foreclose on our house right after the housing bubble, not because we were behind, but because they, on a whim, sent a home inspector to our house that reported we didn't mow our grass to his liking.  This, according to Wells Fargo, destroyed the soil.  After that, they started calling us on the second of the month saying they had not received our payment on the first.  Why?  They had to wait on the mail, which, according to their "account collection specialist," was a privilege we did not have.  After several rounds of refusing not to make additional payments over the phone while they waited two or three days on the mail, we ultimately had to take our phone number away from them.  They would call on any day, including weekends, as early as six o'clock in the morning threatening to foreclose on our house because our payment was one day late.  The tactics that they employed to try to get additional payments out of us were vicious and cruel threats as if they were talking to street trash, not customers.  If we'd owed them one penny that was late, I would be more understanding, but we didn't owe them anything.  According to our loan contract, our payment wasn't even late until the fifteenth of the month!  This went on for weeks until we finally forbid them from calling us at all for any reason by forcing them to remove our telephone number from their system.  They lied every way that they could and tried their best to run up "inspection fees" to make sure we kept our grass mowed to their liking.  It was only about an inch and a half tall, which is not tall at all, especially living in a rural area with such a large area to mow. They even went so far as to call FHA and HUD to report our house vacant even though we were living in it at the time to clear a path to foreclose!  We spent more time putting out the fires that they started than we did at work.  They finally backed off after our attorney sent them a certified letter asking their motivation for forcing us out of our home.  Did they have a better offer to sell the house for more than we paid or were they just being nasty because they thought that we would sit back and take it?  Of course, they refused to respond.  They simply clammed up and wouldn't say anything. Disappointing?  No, it was scandalous.   

Now, many readers will see this and think to themselves that we provoked this response from Wells Fargo in some way or form.  We are not the typical home buyer.  We do not buy above our means despite constant reminders from real estate agents that we should have bought all of the house we could afford, which we refused to do.  We were more interested in owning land instead of more house than we could ever use just to impress our friends.  We also keep larger reserves of cash than the average person in the event that life happens, which it sometimes does.  We were never once late on a payment and never once let our house fall into disrepair.  We had trouble believing ourselves that Wells Fargo was this bad until we were up to our necks with them and they continuously pulled every scam and scheme that they could to force us out of our home.  After 14 years, we had absolutely enough of their constant nonsense and useless product peddling so we finally just bit the bullet and paid our mortgage off in full.  It was a bitter pill to swallow that left us broke afterward, but the feeling we have of just having Wells Fargo out of our lives forever more than makes up for eating Vienna sausages for dinner in peace instead of having to put up with their constant barrage of dishonest schemes.  Now, our home is ours outright and Wells Fargo can kiss where we can't because we're done with them once and for all.  My best advice to anyone that considers Wells Fargo for a home mortgage is DON'T DO IT!  It'll not just be the worst decision to make today, but one that will haunt you for many years into the future.

more ...
May 17, 2017
Home mortgage
Anonymous Borrower

We fell behind and were told over the phone that if we came up with $6000 we would be back on track, after sending the check to them they returned it and said sorry we received it a day late so no deal and we own your house!!!! Nightmare

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Apr 12, 2017
I think it could have had a better rate.
Anonymous Borrower

They say you will get free checking while you have a loan with them,however it not all true

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Jan 31, 2017
Underwriting is completely broken
Anonymous Borrower

Attempting to refinance existing 30 year with WF to a 15 year fixed.  Had to provide four years of all documentation for a loan that we have had with Wells for over 10 year.  Underwriting continuallty asking for additional documentation.

Unless you are a single borrower with only W-2 income look elsewhere.  Had to pay $800 to extend the rate lock, because Wells is unable to turnaround documentation.

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Dec 16, 2016
Student Loan
Anonymous Borrower

I had student loans thru Wells fargo years ago. They were really good with working with me about payment options...also helped me to consolidate when i needed to. 

more ...
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