Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #5178298
Complaint Overview
Complaint ID: 5178298
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: California
ZIP Code: 95821
Date Received: 2022-02-02T12:00:00-05:00
Date Sent to Company: 2022-02-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We are currently a small business we currently have a mortgage with Wells Fargo bank for the past several years. Our interest rate is at XXXX We have been trying to refinance our home with XXXX XXXXd a broker for the past year, using several lenders but have been unsuccessful..due to our debt to income ratio. Our credit score for my husband and I are both in the XXXX 's we have been paying our mortgage weekly for years we have very little debt. We did not stop manking any payments during covid pandemic. All we are trying to do is lower our monthly payment and take advantage of the low intetrest rates. Thata it! Bu because we are a small business and on paper it shows our bebt to income does not qualify us. Its so frustrating to see all.these programs out there stating they can help us but when we try we get denied. Our home is worth XXXX and we only owe XXXX. XXXX did say they would help if we stopped making our payments and modified our loan which makes no sense to me. I don't want to default on my loan and will not. So they will only help if we stop paying. This make absolutely no sense. There has to be some sort of help out there.
Frequently Asked Questions
What is Complaint #5178298 about?
Complaint #5178298 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 2022-02-02T12:00:00-05:00.
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.