My grandson purchased a Ford vehicle, but needed a cosigner. He was the primary borrower, but I cosigned his loan. Recently we applied for a home loan. During the process, we discovered Wells Fargo erroneously reported me as the PRIMARY borrower and my grandson as the cosigner. As a result, our mortgage lender counted HIS car payment as our debt, thereby causing our debt-to-income ratio to be too high to grant us a loan. My grandson, my husband and I have all contacted Wells Fargo to have them correct the report and send us a letter that they had made the mistake. We must have talked to 20 people over the past 4-5 weeks. Each one gave us a different answer, ranging from, "It'll be faxed to you tomorrow", to "Oh, We can't do that. It takes months". They keep telling us they have sent us faxes and letters, but no one involved on our end has received anthing at all. The did verbally admit that they had made a mistake and that I WAS INDEED the COSIGNER, but won't provide documentation that we can give to our mortgage lender. As a result, we will be unable to purchase a new home. We've been working on this since sometime in early September. All other documents have been provided to our mortage lender, but we can go no further without Wells Fargo's assistance. They claim they are sensitive to customer complaints, but I can unequivocally opine that' an outrageous lie. I am more than willing to provide explicit info to any person or organization that is a bonafide and verifiable service that would be willing to look into the legal ramifications of Wells Fargo's egregious behavior in this instance.
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