I have moved to a state where there are no w-f banks. I want a loan with w-f to stop auto drafts from my checking account so i can close it. I want the loan dept to send me a monthly billing & i will make the payment. I have requested the loan dept to stop making auto drafts on the checking account. Every time they do it causes a nsf fee. They won't close the checking account until the nsf fees are paid. Its a complete circle. I have now been referred to 6 different phone numbers and have wasted over 4 hours of my life trying to resolve these issues.
All i want is to have the fees reversed, close the accounts. No one i have spoken with, while nice and polite, seems to have any ability to help or send me to someone who can make it happen. Needless to say, after having done business with w-f for 15 years, it has left a very poor taste in my mouth and when they do come to my state, i will not conduct any business with them nor encourage anyone else to use them.
Great bank with a multiplicity of options. As a student, I appreciated the overdraft program which gives you a 'cushion' of credit for overdraft protection instead of innumerable fees.
There are definitely other reasons to use Wachovia, such as availability of ATMs, (almost) free-checking, etc. But these are the main benefits.
My boyfriend and I applied for a mortgage on a $225K townhome in Tucson. My credit score is 798 and his is over 800. We're both in our 60's, retired, never had a bad debt in our lives. I own free and clear approx. $2.5M of real estate and have liquid assets of over $1M. My only debt is $258K on a condo worth $345K that my son lives in - I financed it at 3.45% because I could do better in the stock market. My boyfriend owned a home worth $215K that he had a $30K heloc out on and was planning to take out another $22.5K to pay his half of the down pmt. His house was on the market at the time and he told them the heloc would be paid off when it sold (which it did last month).
Our loan officer said we would have no problem qualifying with a 20% down payment. 5 days before closing, he said that underwriting was "concerned" that our income wouldn't support our debt and that we would have to put 25% down. Other than the condo and the heloc mentioned above, we have no debt. We each have a couple credit cards that we pay off each month. The loan officer said monthly bills count and I pointed out that my approx. $10K of monthly bills are paid on time every month. We delayed the closing a week.
A few days before the 2nd scheduled closing, he called and explained that underwriting wasn't "happy" with my boyfriend's share of the down pmt coming from his heloc and that we would have to put 35% down, submit copies of all of our credit card statements for the past 6 months (because I disputed that we were ever late paying them off) and that we would have to delay closing for about 10 more days. I told him to stick it. We paid cash.
I work for a realtor who had WF as their in-house lender until last year when they switched to a broker because WF couldn't close consistently on time.
Why anyone would work with Wells Fargo is a mystery to me. A good rate and reasonable loan costs aren't good for anything if you don't get the loan. Ridiculous.