Consumer experience: the most annoying, incompetant and mistake ridden experience I have EVER had with ANY bank. I began the refinance of a mortgage I CURRENTLY HAD w/ Wells Fargo. Told approx 30 - 45 days to close. Paperwork was lost, submission to underwriters lied about 9 times. My experienc began 4/27, my paperwork in by 5/17, then was totally ignored until June13th! My FIRST lock in for rate was until 6/25, they couldn't meet that date due to total incompetance! Extended to July 16th, set up my closing for july 16th only to cancel TWO HOURS before closing because "they forgot to send a truth in lending packet" and had to re-schedule a week later!! They DO NOT RETURN phone calls, nor can they keep track of paperwork as I had to re-fax numerous items 3 & 4 times!! HORRIBLE to deal with!! I only went with them for a re-finance as I figured since they had my CURRENT mortgage it would be smooth and hassle free!! WOW! Was I wrong!! Think before you choose this horendous experience which is STILL not over for me 79 days later!! Do the have a future in banking?? sure! Do YOU want to deal with them??? nah!!
Update July 29: they have now cancelled the closing two more times because "they had to re-do " the numbers on Truth in Lending" due to "incorrectly calculating".....they have now cancelled a total of 4 times and STILL I have no Idea of a closing date....I have reported them to the Federal Banking Commission Consumer Affairs. Projected closing date is into August but "they are not sure of an exact date".....apparently this is "the first moortgage" WElls Fargo has ever done so they don't know how to caluculate &/or prepare to close a refinanced mortgage????
Some do seem to be under trained or something. My refinance experience wasn't as bad as yours but it wasn't smooth. A mortgage consultant locked me at a rate even though I told him not to, this was over the phone and I wanted to ask him if they record calls so that he could go back and listen to our conversation. I had to wait until it expired.
Worked with one in person and she kept sending me different loan applications with different fees and such. I received a packet one day and then another the next day. Fees that were listed on one disappeared on the other and replaced by other fees. Admittedly I was refinancing to take off a name from the loan and to qualify by myself so I was a borderline case. Decided not to work with her.
Talked to a relative and got the card for a mortgage consultant that did his refinance. Everything was pretty smooth. Although the title company that he used was kind of iffy - spotted a few errors in the paperwork.
Most of the people who refi do not read or post on a yahoo forum.
Seems strange that all the ones who post have a terrible experience and there are no post by the many who have a good experience. Could the problem be with the one who is trying to fefi¿¿¿???¿¿¿???