New York, New York

I applied for a refinance loan on a mortgage that I already had with Wells Fargo. I was never told about the appraisal fee but was told the refinance could be accomplished within 2 months.

It took 4 months of persistent phone calls to move the loan along. The representative I had didn't read the documentation I sent and had to resent it. 4 months later the refinance didn't go through because of some commercial nonsense. I lost the application fee and the appraisal fee!

How could this bank not refinance a loan that they financed initially. The entire process was disorganized and ridiculous.

It was a waste of time and money! When I read a similar occurrence on this website, it sounded exactly as the process I went through!

Product or Service Mentioned: Wells Fargo Mortgage.

Do You Have Something To Say ?
Write a review


You will be automatically registered on our site. Username and password will be sent to you via email.
Post Comment

We contacted WF in December 2012 to refinance our mortgage. Nothing but a hassle.

Had to send the same info to the loan processor multiple times. No one would ever answer their phone. Had to email our loan processor several times requesting updates. At one point in an email he indicated "sorry, he was just a loan processor and that there was nothing he could do." Our documentation was all sent to them by mid January 2013.

On Monday, April 8th,2013, we received a written notice indicating that WE had requested to terminate the process and that the commitment time frame had expired. We managed to get in touch with someone in upper management on April 9th, 2013, who has assured us that our fee will be refunded. The loan processor never took responsibility for his incompetence and delays.

I wouldn't be surprised if Wells Fargo will be out of business within the next 5 years.


I had the same experience. I have been with Wells Fargo for my mortgage over 6 years using autopayments so never late always early.

I spent 3 months trying to refinances over the phone then another 6 months with a rep still nothing this will lower my payment over 400 a month because of falling rates.

This has cost me a ton of money with no end in sight they just keep giving me the run around to keep me at the higher rates as long as they can. :(


I am having a similar problem. Wells Fargo is the current lender on my mortgage.

I contacted WF in July, 2012 to inquire about refinancing my loan under the HARP program. I completed the application in August and after months of e-mails, they finally began the underwriting process. Since August, I have received 2 revised/updated Good Faith Estimates, both of which were grossly inflated from the original GFE received in August. The amount due at closing literally doubled from the quote provided in August.

Further, the most recent GFE indicates that my monthly payments will go up, even though I am refinancing a lower loan amount at a much lower rate. WF calculated my property tax payments to be 7 times the actual amount owed per year. WF also attempted to charge me double the regulated title fees and, only after I pointed this out, was it reduced to an appropriate amount. This refinance has been a nightmare.

They are unorganized, slow, and it seems that the processor does not know what she is doing. They seem to pull numbers (taxes due, title costs, etc.) out of thin air. I am beyond frustrated. Fortunately, I am not in a position where I will lose my home if this does not go through.

I feel bad for folks who do not understand the process and/or are trying to refinance in an attempt to save their home from foreclosure.

Please read your documents carefully! WF will take advantage of you if you allow it.


It's probably not a good idea to refinance with your existing bank anyway since there is little incentive for them to get you a lower rate, but our experience with WF was excrutiating and exhausting. We just closed the loan we started the process with in June.

They said they could do it in 2 months. That is laughable now.

The closing agent said she had heard only horror stories from all of her closings with WF and ours was not that long by comparison, so this seems to be a widespread problem. If you need more staff to get the job done, then hire more people!


I had a similar thing happen with Wells Fargo who I have banked with for 17 years. I wanted to refinance bc my mortgage with Wells is the worst one I have. Thankfully my others are with better places and I am happy with them.

Anyway their representative said I could go through the harp program and refinance so I payed $500 for an appraisal and some other fees and then he came back and said " Oh sorry you actually don't qualify bc it's a 2nd home or something. I got none of my money back even though I was told I probably would. It was his error not mine and I payed.

In my opinion Wells Fargo is awful !!! They do not take care of their people at all and I have been given the wrong info so many times and it has cost me money.

Be aware! I would go anywhere else for a Mortgage but Wells Fargo.