Wells Fargo Home Mortgage

Zachary Green _{on Google}

Mar 30th, 2020

I highly suggest sourcing other lenders.
Be sure to have all guarantees from the sales department in writing. Every condition should be accounted for and documented. Do not reveal information that will reveal if you are in a time sensitive situation to close as they will take full advantage of you and maximize their profits. They told me I would receive a certain PMI cost based on my credit score and then when they ran my credit it obviously dropped, which I told them it would because everyone knows running your credit drops your score. In response to my concern they said as long as it didn't drop below 740 the PMI cost would hold. My credit score didn't drop that low but they said that my credit score declared on the report didn't meet the threshold to receive the quoted PMI cost so now it was going to be a higher PMI. They refused to provide the "threshold" credit score requirement. Also after I paid off accounts and boosted my score to a level higher than it was before they would not rerun my credit to give me the original quote. They also knew I was in hurry to close and didn't have time to source quotes from other lenders. VERY SHADY!!! Also they guaranteed a 120 day rate lock but then only provided 35 days of locked rate and documented my closing date as a date before the house was actually going to be finished with construction so that they could charge me a rate lock extension which cost roughly $750 each time they extend. They extended it twice at their discretion. If i didn't call them out on the rate extension they would have charged me an additional $1500.
The ladies I worked with were nice even through dealing with my frustration. But ultimately the company manipulated my situation and is shrugging their shoulder at the fact that they are stealing hundreds of dollars from me and probably millions of other home buyers.
They say they'll open a case to investigate concerns and provide resolution, waste 2 months, then come back to you and say they don't have a resolution.