Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #5035693
Complaint Overview
Complaint ID: 5035693
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: New Jersey
ZIP Code: 074XX
Date Received: 2021-12-22T12:00:00-05:00
Date Sent to Company: 2021-12-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I applied in XX/XX/2021 to refinance my mortgage with Wells Fargo who currently service my loan. I applied for a 15 year term from 30 years currently and a lower interest rate. Currently it's 4.375 % and I was quoted 2.375 %. No cash out. My home is a low income housing unit in which requires certain criteria to be met in order to refinance. I have met all criteria and am qualified. Wells Fargo is on the list of qualified lenders for low income housing however they have no idea how to close this loan. Its been 6 months and I've called every 3 days or so and have been working with the mortgage processor and still every time I call I get a different excuse. I feel that they are discriminating because its a low income housing unit and I've complained to all departments, supervisors including the XXXX XXXX XXXX. Wells Fargo continues to tell me that they are working on my loan in which I've qualified for and every document needed I have submitted. It's been 6 months going on 7 of nightmare dealing with this bank. Please help.
Frequently Asked Questions
What is Complaint #5035693 about?
Complaint #5035693 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 2021-12-22T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with explanation". 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.