Started a refi process (loan mod) 6 months ago. Well, after 5 processors, 6 months later and 4 days prior to closing, I received a counteroffer.
It increased my terms and my payment. I contacted the 5th processor, after leaving several messages, and he was clueless like the rest. I asked why this info was not given to me prior so that I could make a decision based on the counteroffer. He said I should have been given the info upfront.
He then started blaming past processors for not sharing the info. I asked for a supervisor and he wanted to leave a message with my first processor. That was his supervisor. No way does that make sense.
These people have been giving me the run-around for 6 months and the end result is a higher term. As of today, I will no longer be doing business with WF. I am closing all of my accounts and moving them elsewhere. I doubt that the "supervisor" will return the call.
None of the others will. There needs to be something done about how they are conducting business. They took my $$ for the appraisal and now they tell me I don't meet the qualifications.
These are the unspoken qualifications that were not discussed and still have not been discussed. WF needs to crash like these other banks.
Product or Service Mentioned: Wells Fargo Loan.
Monetary Loss: $385.