Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4675265
Complaint Overview
Complaint ID: 4675265
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage
State: California
ZIP Code: 953XX
Date Received: 2021-08-30T12:00:00-05:00
Date Sent to Company: 2021-08-30T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I recently submitted a complaint to Wells Fargo bank and once again Wells Fargo did what Wells Fargo does best, they once again said that they will not be able to forgive my loan because I used the money from the equity line of credit a Wells Fargo Banker open on my behalf without my permission. This is the tactic Wells Fargo has used to increase its profits. As I explain in my previous complaint, back in XXXX I refinanced my house with Wells Fargo, after my refinance went through I received in the mail an approval for an equity line of credit, I confronted the bank about the situation and they told me that the equity line of credit was a product that came with the refinance, which later on I learned it was a complete lie. In order to open an equity line of credit I would have had to sign in front of a notary and I NEVER did that, in fact when the banker showed me the paperwork the signatures from the Equity Line of Credit did NOT match my signature from my refinance documents, the bankers forged my signatures, anyway, that is not the worst part, the worst part is that in XXXX there was a housing financial crisis, my family and I, as well as thousands of other American families where struggling to make their payments, that is when I decided to use the equity line of credit A wells Fargo employe had open for me without my content. I have told Wells Fargo on many occasions that I did, in fact, used the money, however, if the Equity line of credit wouldn't have been opened without my content I wouldn't have used it and wouldn't be in this situation today. When I've been to the Wells Fargo branch to make my complaints about this situation the bankers had confessed to me that yes in fact they were pressured by Wells Fargo to open a certain number of accounts on a daily basis in order for them to keep their jobs. Wells Fargo has admitted to its wrongdoing of opening the equity line of credit without my permission and they have sent me a {$50.00} check since XXXX I have paid Wells Fargo over {$90000.00} in interest I don't believe a {$50.00} check will do much. I am asking Wells Fargo to forgive my loan as I am a retired veteran that is truly struggling to make ends meet.
Frequently Asked Questions
What is Complaint #4675265 about?
Complaint #4675265 was filed against Wells Fargo & Company regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-08-30T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.