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I paid $400.00 to refinance my existing mortgage. The application process started in January 09. After giving me all sorts of run-arounds, Wells ended up denying my application in Jun 09. And I lost my $400.00.

1) First they said they were going to do a 1-2-3 step program. Where there was no appraisal required. However, they defined that application because of Debt-to-income ratio. How, *** they are because there were no changes in my income or debt from the day I started business with them.

2) Later on they referred me to a local genius who ended up taking my money!

3) Don't tell me that appraisal and credit report costs $400.00. this is BS


Sterling Heights, MI

Product or Service Mentioned: Wells Fargo Refinance.

Monetary Loss: $400.

Company wrote 0 private or public responses to the review from Sep 02, 2009.
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Very similar thing happened with me, out $500.00 for appraisal fee.

Rejected the loan due to debt ratio, which they obviously knew from the beginning.

Fort Worth, Texas, United States #871709

Yeah, they charged me 11$ for the credit report and $420 for the Appraisal. I did a refi in 2011 and after spending less then 15 minutes at my house the appraisal in 2014 came back as the exact same dollar figure.

Complete scam.

They then denied me for a *** reason. This was just them making money off me.

Memphis, Tennessee, United States #653734

It would seem that when Wells Fargo learned about HARP - the reinancing program for which so many of it's "middle class" HA! clientel would qualify, but which was not widely advertised to the mainstream overworked multitude yet - they sent out refinance advertisement to get you into a program that would have you refnanced at a rate lower than what you had but much higher than the HARP rate...and would then disqualify you from HARP for having taken the bate and refinanced after HARP's 2009 date.

Because I was refinanced in early 2010, I now still have to put up with their yearly letters telling me that I can pay X number of dollars, my note will only go up almost $50+ or do nothing and my monthly note goes up to only another $100 per month. Eash agent I call gets different figures on my house note...forget the fact that I lowered the taxes, lower the insurance, or ever paid extra into escrow. Perhaps Wells Fargo just makes money on people losing their houses. So I have rearranged my way of thinking.

I will never fix anything in this house again that I can live with out. Wells Fargo can inherit my whole neighborhood with 50 year old carpet, no paint...etc. you get the picture. It is just my opinion - but the company is CRIMINAL.

Stay away from them if you can!

For the record, my credit is great, I have paid off every house that I ever lived in before Wells Fargo came along, and I will never own this house. Wells Fargo has seen to that.

to Sold to and Sold Out Gulfport, Mississippi, United States #657757

This doesn't make much sense. I can do loans through several different mortgage companies, Wells happens to be one of them.

With all the loans I've done I have never experienced one comment on this entire site. You can read between the lines on all of them. If you have the credit you can refinance with anyone you act like your locked into some kind of contract. And I have to inform you that rates were higher I.

2010 than they are now. There is no such thing as an HARP RATE! The way you describe your payments it sounds like they increase every year. If so, then it sounds like you made a concious decision to not do a fixed rate.

Wells is the largest mortgage lender in the world, they own over a third of the mortgages in this country and have the least amount of foreclosures. They also have the best financials of any bank in this country. Most of the complaints on this page sounds like Wells bought your mortgage and didn't do it originally that's why your having appraisal issues. And if your paying 300 or 600 or 1200 even that is no cost.

The average closing cost in this country is around 5000. There's more cost in closing a loan than just the closing cost.

I hope everyone who is complaining goes to Nother bank to refi so they can find out what closing cost is. People like me are waiting to take your money!!

to Sold to and Sold Out #660210

youre retarded. you know nothing about mortgages, the industry, anything.

Waretown, New Jersey, United States #632699

ya wellsfargo said they would help.. refin.

but after jumping though hops .. allthe papper work ha ha got lost they said.

ha ha not so funny when I put hours and hours into dotting the I"s an crossing the t"s well it"s all I can do ..Im not making any more mortgage payments can not afford it,but I tryed and IM tried. I guess they want my house ..who ever reads this .DO NOT TRUST WELLS FARGO MORGAGE ...LONGCUT I"M OUT.


I was approved by Wells Fargo to refinance my loan at 3.875. My loan officer was totally incompetent.

He was not able to complete the paperwork before the $450 appraisal expired. Even though I furnished him several times over with all the documents that he requested. He obviously wasn't doing what he was supposed to do with those documents. Let the buyer beware.

Friends of mine in Real Estate and several co-workers who have had business dealings with Wells Fargo told me that they are notoriously slow. I plan on closing out all of my accounts with them.


Wendy from MN..are you sure its not interest not paid on the old loan? For 3 step the only fee I've been told is a recording fee per your county.


i was told I am qualify for wells fargo 3 steps refinance program for no closing close. I just found out today that I was charged over $1100 for closing close including $360 for appraisal and title fees even when I signed the wavier form.

I have until tomorrow to return the disclosure package.

I am affraid I am being heated by wells fargo. What should I do?

to Wendy Waretown, New Jersey, United States #632703



:x :( :sigh :zzz :upset :eek :roll


We have refinanced with Wells Fargo in Spring 2011 under the three step program. At no time were we told that it was part of the Harp program.

We were made believe that this something that Wells Fargo did for good customees. We are no trying to refinance with the Harp program because the interest rates are as low as 3%. We were told that this was not possible because we had already used the HARP program. Huhhh???

How is it that we were not told this?

The loan officer actually told us that if the interest rates changed again, we could refi again, no problem. We feel totally cheated, because our home value has dipped again and we would really like to have a 3% interest rate.


If you hadn't called in so belligerent on the phone this would have gone more smoothly. Try to calm your hormones next time.



The mortgage compnay does not care where the money comes from. If you want, you and your siblings can simply open a new bank account and have the money sent from that new bank account to pay the mortgage.

Or you can simply write a check and mail it to the mortgage compnay.

The only thing you really have to do is to start mailing a check to the mortgage compnay when the credit union account is closed. No need to refinance the loan.


Wells Fargo refinance is a scam. We went through the extensive information gathering process.

Supplying them with everything but a blood sample.

Everything seemed to be coming along and finally at the end, we were denied due to the home having acreage, which was the information given on the first day! They are either idiots or it is a scam or both!

to Sally Vancouver, Washington, United States #589563

Same thing just happened to us today 1/5/13 ... 3 1/2 months later and after we paid appraisal fee $600 ...

They just noticed there is acreage SCAM SCAM SCAM Shame on you Wells Fargo.... And this wasn't a 3 step Just good old regular refi


Some of you people are ridiculous! It's funny that a bank will do a free refi for you and then if you don't have the opportunity to do it again you go to another bank and pay fees anyway.

Do some research on the 3-step refinance people! It's through Fannie mae/freddie Mac and their guidelines have changed drastically over the past 3 years under the HARP program.

Get a clue before making yourself look like an ***! There are certain lenders that will not subordinate in a timely manner which makes it impossible to do a refi with no costs.


Wells is bleeding money from us during the THREE STEP refinance. Its NO COST!

and if you paid anything to anyone you should get with a manager. DUH.

Also its a government program. Wells fargo participates in.

They have to follow the guidelines there is only so much wiggle room.

Get a clue ppl. Use your noggin


I started the application for the 3 Step Refinance program almost a year ago and everything went smoothly until they said that they couldn't do the refi because my equity line was with a bank they don't have a Subordination Agreement with. My bank was willing to sign one but since it wasn't already in place it was a no go.

However, my Mortgage guy told me to pay it off and I could reapply after 6 months.

I am in the process of doing that now. Will let you know how it goes.


Today I realized Wells Fargo is calculating my LTV ratio based on the "original home value" which is much lower than the number (appraisal value) on my loan contact. I called them and they say, in their definition, the "original home value" is calculated based on the loan amount (regardless of the appraisal value we used for the loan set-up).

This is just a nonsense.They say it is a common business practice (and told me that I should have done enough research before buying a home). After 30 min dispute I got a fax number for a legal correspondence.

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