WELLS FARGO HOME MORTGAGE

I contracted with Wells Fargo for re-financing loan on a second home that was co-owned by my son and me. The new loan would be mine alone. The paperwork was beyond belief - tax returns, copies of statements, signed statements from accountants, signed statements from our company Controller; from my accountant. Many more from me - even a signed statement as to why I used a PO box rather than a street address for the last 25 years. All decisions had to come from their home office in Iowa and their underwriters were constantly asking questions that were already answered several times over. Then they ran into a problem because their records indicated there were two mortgages on the property which had to be straightened out by attorneys. So for several months we waited on the attorneys and then...had to start the mortgage process all over again. All the paperwork had to be resubmitted. In the end my loan was declined because they thought my income was declining. It took 5 months and $1,100 for them to come to a decision that was obvious no later than 2-3 days into the process. Did I mention that Wells Fargo had the loan already and that I had been paying on time with no problem for 11 years? I contacted Quicken Loans and the loan went through with no problem in just a few weeks.

Most people know about Wells Fargo because they are a large company but they have been very good to us. The people we dealt with when we settled really went out of their way to double check everything and they did not make one mistake. They always asked us if we were happy or if they could do anything to help us or make things easier on us. I really felt like they cared and so I will continue to give them my on going business.

We thought they were very professional and courteous. We also believe they honestly got us the best deal possible and also the lowest rate at that time. They explained the whole process and were helpful in helping us to understand all of the terms. I don't think we had to pay them any points or fees.