I had a mortgage with Wells Fargo and had to refinance only 6 months later due to some personal issues. As a no-cash-out refinance I figured things would be pretty easy and smooth. However my mortgage consultant was exceedingly poor in communication and delayed the entire process.
I had specifically requested a Good Faith Estimate along with my rate during initial communications with my consultant. He locked in my rate but did not send me the GFE or any other information until 7 days later despite my numerous requests. Thus, it cut into my 30-day rate lock by 7 days and I hadn't made any progress yet on my refinance!
Throughout the remainder of the process my consultant was NEVER available via phone and chose only to send me information via email, which was not always readily accessible to me. After moving ahead he scheduled an appraiser to come by my condo. The appraisal process took 14 days between the initial date of scheduling and receiving the completed report. The appraiser informed me that he was "backed up" when he came by too. Although I was ready to close well before the anticipated date, the 7 days that my consultant delayed relaying information to me coupled with the 14 days of the appraisal process lead to me not being able to close before the rate expired. I had no control over these situations as Wells Fargo had made all the arrangements.
As I waited for WF to inform me that they were ready to close my rate expiration date was quickly approaching. It was on a Friday at which point my consultant informed me via email that I would be charged an additional $500 for extension of my rate. I closed the following business day (Monday) after being informed (via email again, no phone call) that they had the appraiser's report. I tried to contact my consultant over the phone to discuss the extension fee with him but of course he did not answer.
I tried resolving the situation with several people since my closing (I did pay the $500 at closing since I didn't want to be forced into a higher rate). All Wells Fargo staff I spoke with were dismissive and unwilling to discuss the situation noting that I shouldn't have closed if I didn't want to pay the fee. They did not acknowledge my questions about Wells Fargo being the ones who delayed the process, not me! I was yelled at and even hung up on despite my calm and professional demeanor.
This is still ongoing as I have since informed the parties involved of my intent to file suit and am awaiting a response.
Bottom line: Horrible communication! Rude staff! They delayed my refinance and are blaming/charging me.
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