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Buyer Nyc, Home Buyer in New York, NY

Has anyone experienced delays closing with Wells Fargo or Chase in NY in 2012?

Asked by Buyer Nyc, New York, NY Sat Mar 17, 2012

I'm trying to decide between Wells Fargo and Chase for my first mortgage. For both I am going direct to the bank and not through a mortgage broker. About a year ago I heard that Wells Fargo would take a long time to close. I'm wondering if anyone has a recent experience (late 2011 or early 2012) and could tell me how long it took to close with Wells Fargo or Chase.

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67
Stay away from Wells Fargo at all costs. I spent the last four months trying to close a HARP refi with a loan processor named Adam Zaragoza. I might as well have been dealing with the DMV in Nigeria. Adam declined to return my calls or answer my emails, and kept upping the ante for pointless extra bits of paperwork. It felt like deliberate foot-dragging. I reluctantly agreed to buy their appraisal for $560... big mistake, because Adam then ran out the clock. I had to call HIM to find out that my loan had been canceled and I was out $560 because my lock had expired, and I would have to start over. This moron even had the audacity to blame me for his repeated dropping of the ball. I may be facing small claims court to recover the appraisal fee. I plan on filing complaints with the consumer protection bureau and FHA. Stay away, go with Chase instead.
4 votes Thank Flag Link Fri Jun 14, 2013
Chase isnt any better. They had my original home loan and I only had the loan 8 months before they wanted to jack up my monthly payment because of escrow... however, they were not adding in the next four months of payments that I would have in the account by Dec 31... they wanted that money in there by August 31st because "thats when we adjust Wisconsin's escrows" BS.

WF offered ME a HAMP loan modification after I quit paying them because they weren't reporting any of my payments to the credit bureau. I figured if youre not going to report them, then I'm not going to make them.

They took me to foreclosure court and during court ordered mediation they offered me a HAMP loan with $30k to be forgiven over a period of 3 years in one-third amounts... BEWARE!!! you get a 1099-C and if its not a modified HAMP loan you have to add it to your income for taxes... and MY1099-C was for over 25k....which was not reflected on my statement (only the actual 1/3rd)...
So I'm effed....
Flag Sun Mar 16, 2014
Stay away from ALL because they do not have the consumers' interests in mind in the least, only their employer's. And sorry, no offense to the supposed pros, but a qualified/experiences underwriter does NOT make a difference. They are not trying to help the consumer, just themselves. Definitely think twice and thrice before going with any big bank.
Flag Sun Feb 23, 2014
As many have said, the most important piece of the puzzle is having a great team surrounding you. When I represent with sellers, if I even have a question about the buyer, their finances or the bank they are choosing to use, we may ask them to get a pre-qual with a lender we trust. That way, if problems arise later, another lender is on deck to step in and help complete the transaction in a timely manner.

If you are unhappy with the process that you went through you can report the issues using the new consumer protection database which is located at http://www.consumerfinance.gov/complaintdatabase/
This is also a great resource when you're deciding which company to use in the first place.

Hopefully it all worked out well!

Sarah D'Angelo
Associate Broker
Keller Williams Capital District
518-724-5880
GoSeeSarah@gmail.com
4 votes Thank Flag Link Thu May 30, 2013
THERE HAVE BEEN TOO MANY DELAYS WITH WELLS AND CHASE THROUGH 2012 & 2013.
USE SILVER BAY LENDING 631-406-6565 SMOOTH & EASY & BEST RATES
3 votes Thank Flag Link Tue Jun 25, 2013
Anyone who want the lowest rates and wants to close quickly should use SILVER BAY LENDING
631-406-6565 Their Bank is in New Jersey and they are a direct lender plus a Broker for other Banks. They will make it very easy for you and can do everything for you over the phone. Their office is in Smithtown, NY. I recommend them to everyone whether you are a first time buyer or buying your $4,000,000 home. Ask for Donny or Mike you won't regret it...
3 votes Thank Flag Link Tue Jun 18, 2013
New American Funding (Dave Kooner) helped me with refinance after Wells Fargo bungled my application and made us wait 6 months while interest rates increased drastically. Avoid WF (correction, Hells Fargo) if you want to refinance. They are incompetent Obfuscators to say the least!
Flag Thu Sep 19, 2013
Wells Fargo takes forever to close as the list of documents keep increasing through the process. The promise made at the time when you fill up loan application is not reliable. Documents you send to mortgage officer are often asked by processor again. Too much time waste in sending same thing over and over.
2 votes Thank Flag Link Wed May 28, 2014
I had a similar experience. I will never use WF again. They screwed up my appraisal and wouldn't refund the fee either...
Flag Sun Dec 28, 2014
I totally agree with you.
Flag Mon Sep 15, 2014
Wells Fargo is taking way to long. I would try a different bank. This will be my last time using them.
No communication in company employees. Just like passing the buck!
2 votes Thank Flag Link Wed Nov 20, 2013
Thank you..it took me almost a..... year! ! to close with them!..but finally two months ago!...Good luck to you all and God bless you all who are using them..but I will NOT! ..be using them in the future for ANYTHING!....Whew!!! can we allll sat...STRESSED!!! OUT!!!! aka wells Fargo!..um um um..shameful!
Flag Sun Nov 24, 2013
What do you consider a long time? Expectations can be subjective. There are many variable to factor in (especially if you're buying a co-op). A customer I was working with just closed this past Friday after 5 months & her mortgage is with Bank of America. None of the major banks are going to be super-speedy with this process.

Looking forward,

Christine Gordon
Licensed Real Estate Salesperson
Cell: 917.881.2924
Fax: 347.328.9352
Apartment updates available at http://www.christinegordon.postlets.com
"Home is where the heart is."
2 votes Thank Flag Link Mon Apr 1, 2013
5 months and still waiting! Took all paperwork to bank on Oct 22, 2010. It is now March 2013, and I am still waiting. We also have excellent credit, and this is a simple refi, with no 2nd, or anything out of the ordinary. Have done it before several times only taking about a month. My loan officer is incompetent. I am always having to email her to remind her of what to do, and I have to ask questions at least 3 or 4 times before getting a reply. I hear excuses like "I was out sick", "my computer has been down", etc. I have had to resend her items I already gave her because she didn't turn them in and now they are "from October so we need more recent copies". Yeah, they are from October because that is when I came in to refinance my home! She has also had me resend things because she "must have faxed it upside down" or "the copier cut it off". She "forgot" to get the appraisal, even though I had paid for it seperately, out of pocket, 3 months earlier. There are so many other problems I can't even list them all. I have kept every email, and plan to print them and take them into the branch manager and file a complaint when I am done. I am currently still trying to keep my cool just to get this finished. This is Wells Fargo in Newark CA.
2 votes Thank Flag Link Fri Mar 8, 2013
I'm into my 5th month trying to close with Wells Fargo too. They're blaming it on the underwriters... Trying to refinance since November of 2012 here we are the 1st of April. Today was my closing date!!!! I still am waiting to know what I need, no one is responding to my email. I'm ready to flip! anyone know if there is a class action lawsuit regarding this??
Flag Mon Apr 1, 2013
YE YES YES!!!!!!.....it's been almost 6!!!! months! dealing with wells fargo to close!!!! and I have not even had an appraisal! requested!!....and all ! paperwork! was submitted 6! months! ago!!!.....!
2 votes Thank Flag Link Sat Mar 2, 2013
i started the process with wells fargo April 25th. My original close date was june 27th. It is now september 25th, and i still have not closed. i have been lied to several times by Wells Fargo about the closing date. Don't go with them
2 votes Thank Flag Link Tue Sep 25, 2012
I refinanced with Wells last year. It couldn't have been easier. As far as an original mortgage, most banks have gotten very slow. The amount of paperwork with any bank today is enormous. The important part of the process in my opinion is the loan processor. Do they know what they are doing. Speak with wells and ask them for the name of who your processor will be and speak with them first to find out what paperwork you will need. If they won't tell you who the processor is, tell them to go take a hike and find a different loan officer who will tell you. This could be a different loan officer within Wells or Chase. As a result in law changes by Bush and companies like Countrywide mortgages have gotten to be a real headache.
Good luck.
Don Mituzas
2 votes Thank Flag Link Sat Sep 15, 2012
I am now on month 5 for a refinance of which they have the mortgage.My Original closing date was June 27th. Every other week they have another excuse. So far i have heard it was the IRS's fault, they have an over abundance of loans and they are trying to catch up, there system when down so they lost a lot of information. DO NOT USE WELLS FARGO.
2 votes Thank Flag Link Thu Sep 6, 2012
I am going through a closing with wells fargo currently. I am the seller. They have delayed the closing three times. We are on day 65 and they just requested an extention for 25 more days. Stay away at all cost.
2 votes Thank Flag Link Wed Jul 11, 2012
I agree here, in the same situation. I am the seller and the contract was signed on May 20. Third extension now from Wells Fargo for another 14 days. Last closing date passed with no communication and my realtor had not been getting a response. Finally spoke with them and they said they were waiting on IRS docs, but have them now.
Flag Thu Aug 2, 2012
I am working with WellFargo now and they are terrible. It is a complete nightmare. It seems they do not know what they are doing. I would not suggest using them!!!
2 votes Thank Flag Link Sat Apr 21, 2012
Keep in mind that what matters most is the loan officer, not the lender; if all related documentation is accurately prepared and submitted in a timely fashion, there should be no delays.
2 votes Thank Flag Link Sun Mar 18, 2012
wells fargo slow and communication is HORRIBLE....buyer be aware...and patience...
2 votes Thank Flag Link Sat Mar 17, 2012
Chase Bank is notorious for delayed closings!!! We were warned by several realtors including our own, but banked with Chase so considered Chase along with Guaranteed Rate (with whom we had a great experience before). A banker at Chase asked me if we had decided on lender yet, and I told her our main concern was the reputation for long closings and the avoidable inefficiences in the approval process. She passed the feedback on to the loan officer (whom I had previously met), and 30 minutes later I got an email from him. He was SO offended and said that the experience wholly depends on the loan officer handling the loan (just like the other Chase loan officer is saying below), etc etc and how he is much more experienced and we'd have no issues with him, but all said with an air of defensiveness. We didn't like the tone, but since we'd get some benefits with Chase since we also bank there, and since this officer had now responded in writing to our specific complaint so emphatically, we figured he'd make sure everything closed on time, if for no other reason than to be proven right. BOY were we wrong!!! This was our first and very last time working with Chase on a loan. So far, our closing has already been pushed back twice, with no final closing date assigned yet (though we were supposed to receive it by end of business today). The process has been hell...we were told so many times that the underwriters have everything they need (told this in writing) and we should be good to close on time, and then the day before or day of every single milestone deadline there is another request for more documents OR the blame game starts where the officer claims a 3rd party they need verification from (eg the HR departments at our job, despite having copies of paystubs, tax forms, offer letters in hand, etc) has not returned their phone call for ten days, hence the delay. Every time this happened, we emphasized that if they don't hear back from someone, LET US KNOW in a TIMELY manner so we can help follow up and push for it, yet every time we were never informed, were told they have all they need, and then the deadline or closing date comes and goes and only on that day do they inform us it's because someone didn't reply to them (in the case of the HOUR dept, for example, we didn't even know they had been contacted, and the person that had been contacted had been on vacation, which it clearly said in her email auto-reply...yet Chase never attempted to contact anyone else in the dept nor did they inform us of what was going on). Each time we were finally informed, we got them the info they needed in less tan a day, but it would be such a stressful, mad scramble...and yet we still have missed two closing dates even though they have said they have all that they need from all parties. On top of that, the loan officer was informed early that I'm pregnant and on bed rest, so I really need as much advance notice as possible on documents, yet avoidable incident after avoidable incident occurred. My husband emailed the superiors today, and of course no reply from them even though the email was sent this morning and the urgency was explained. Also, I may add, Chase requested asinine documents, like K1 forms for stocks that we no longer have and were sold 18 months ago (all documentation of the transactions were already provided), yet we'd have to beat our heads against a wall explaining we can't provide forms we don't have for stocks we don't have...and I'm not sure how stocks sold in 1/13 would have anything to do with our ability to repay a loan now in 8/14! These are all just examples of many incidents like this, repeated over and over. What can I say, we were fairly warned...
1 vote Thank Flag Link Tue Sep 2, 2014
I got a contract on 07/05/14. We closed on 07/29/14, (24) days later. It depends on the mortgage banker. I have over (15) years experience and can do what others can't. Adam Kelly, Chase Mortgage Banker, 800-799-0490.
1 vote Thank Flag Link Wed Jul 30, 2014
I had no problem with Wells Fargo they are always there to help me
1 vote Thank Flag Link Mon Jul 7, 2014
When clients used those banks I did, I recommend local lenders to clients to help alleviate delays.
1 vote Thank Flag Link Mon Feb 10, 2014
FYI ...BEWARE if you have WELLS FARGO for you mortgage holder! They have done it again! Last year and this year they failed to pay our home owners insurance and it was cancelled then after days of screaming at people they paid and reinstated our insurance BUT last week I get a SEiZURE OF PROPERTY notice from the county.. Not only did they not pay our insurance they didn't pay our property taxes for the last 2 years. What a freaking surprise! Now I'm screaming at people again to fix this issue.. Every year same crap! But we refinanced and damned if Wells Fargo didn't buy it back 3 months later so it's just a lose lose situation. I'm going to spend every January and February for the next 20 years fighting with them to pay our bills from our escrow acct! They are the most unorganized, incompetent company I've ever had to deal with...
1 vote Thank Flag Link Mon Feb 10, 2014
I had severe delays with Wells Fargo but in Miami Beach. I would never suggest a client use them to obtain a loan. There are too many departments that do not efficiently communicate. I was on top of the mortgage agent as much as possible and she constantly assured me she had it under control. The deal nearly didn't close but it happened. It was a Homepath Loan. Also Wells Fargo did give my client a $500 gift card (at my request) at closing for the hassles they put him through.
1 vote Thank Flag Link Sun Nov 24, 2013
My experience with Wells Fargo Home Mortgage (Hells Fargo) was very similar to many of you. May I suggest you RUN as fast as you can away from these incompetent Obfuscators.

We applied for simple refinance on January 7, 2013 to reduce our interest rate and loan length. Our rate-lock agreement expired April 8, 2013. All documentation submitted Jan. 11, 2013. Long story short, they cancelled our loan application May 31, 2013 due to "you have a judgement on your title with no end in sight"... after this message arrived, all communication stopped! We re-applied with New American Funding and closed in less than 30 days. Wells Fargo LIED about a judgement on our title (non-existent). They just did this so they could keep charging us 6% interest on existing mortgage with them. We will have our attorney investigate our loss as a class action. If anyone has same experience that caused financial damages due to interest rate increases since January 2013, please contact us.

If there was an award for the most incompetence and deplorable (so called) Mortgage Specialists in the banking industry while charging the most ridiculous fees, Wells Fargo would win hands down!

Take my advise and call Dave Kooner at: Phone:(888) 474-6561
New American Funding
14511 Myford Road, Suite 100
Tustin,CA 92780
1 vote Thank Flag Link Thu Sep 19, 2013
Both are decent and reputable Mortgage Brokers but there are delays with most Banks as they thoroughly investigate all Buyers.
1 vote Thank Flag Link Tue Jun 18, 2013
I would go with Wells Fargo. I'm working with them for 12 years. Looks like Chase has a lot of overhead so for them to make a decision take a long time.
1 vote Thank Flag Link Tue Jun 18, 2013
Going thru a split with a girlfriend I needed to refinance a 2nd home in order to get her out of a home we had built together. I started working with Wells Fargo (I also thought 20 years of being a loyal customer it would be a quick and not so dirty process)... and after 3 months of frustration and lack of communication I went to a mortgage company local here to the DFW area. It took them 30 days to close! Needless to say I was happy to tell my loan officer that I didn't need their services. I refinanced with Bank of Texas on my current home around the same time... took them less than 30 days to close as well. The bigger the bank the longer its going to take them to close. They don't really care about you as you are just a number to them. It would not have been so bad if the loan officer had just been honest with me and kept in contact with me throughout the process... but it just didn't happen. I've refinanced the 2nd home recently, again through a mortgage company and it took less than 30 days. And I got a better rate with them than had I gone with a big name bank.
1 vote Thank Flag Link Sun May 12, 2013
But Bank of Texas is also too large and didn't care about us, even though I've been a client for about 25 years. They made several blatant errors on the assessment, refused to correct them, and, as a result, cost us $1200/year extra in insurance. Worse yet, we confirmed with the Federal government and with our city they Bank of Texas is forcing us to cover more than twice the amount of insurance than we can ever collect. We have no way of knowing for sure, but it makes it seem to us like Bank of Texas is running some type of scam to make the loan appear something other than it really is so they can flip it to some other loan servicer.
Flag Sat Jul 6, 2013
I started the process for a refi with Wells Fargo (they hold the mortgage) in early August 2012. All the requested docs were in by early September. In December they said they would prioritize it as we were set to leave the country for a year after Christmas. Never heard from them, now we're out of the country until next year, they ignored my emails for weeks and finally replied today saying they're still working on it and can overnight the docs to us here once it's ready, and thanks for our patience. 6 months and counting at this point ... Very disappointed with WF.
1 vote Thank Flag Link Wed Jan 16, 2013
Same with us! Started the process of re - fi in the end of June 2012. Wells has our original mortgage. They have run our credit 3 times and have asked for bank statements 4 times. One delay after another but always someone else's fault. We were suppose to close today, but guess what. They wanted to see more bank statements. Over 6 months. Very disappointed. Class action??????
Flag Mon Feb 4, 2013
Don't go to them its been a nightmare. I have been trying to get this done for 9 months and they currently service our home mortgage!!!! Run for the hills
1 vote Thank Flag Link Thu Sep 13, 2012
DO NOT use Wells Fargo, I am now on month 5 for a refinance of which they have the mortgage. They keep setting closing dates then requesting other documents so they can reshedule the closing date.
1 vote Thank Flag Link Tue Aug 21, 2012
Both Wells and Chase are taking about 60-90 days to close on average. It is usually best to work with a direct lender like myself who has their own in house underwriting because you will usually get a better deal than Wells or Chase can offer and the average closing time is less than 30 days. I have worked with countless people who were originally working with one of the big banks but they were taking too long and couldn't close. Feel free to contact me if you have any other questions (347) 242-1206.

http://www.markfishernyc.com
1 vote Thank Flag Link Sat Mar 17, 2012
I have WF. TOOK THE OVER 2 MONTH FOR CLOSING. WITH THIS, they sold me a fake, false appraisal that caused me to over pay on my property. They also duplicated the closing cost. I was charged at closing the full amount for the fees and the same cost was rolled in the loan. They also added 9000.00 in additional, for some unknown kickback fee, raising the home purchase and loan higher than my purchase amount and that was with 25 down payment. They forced me into foreclosure, a ROBO signed one at that and left me in litigation limbo. Hope this helps you.
0 votes Thank Flag Link Fri Apr 10, 2015
I have WF. TOOK THE OVER 2 MONTH FOR CLOSING. WITH THIS, they sold me a fake, false appraisal that caused me to over pay on my property. They also duplicated the closing cost. I was charged at closing the full amount for the fees and the same cost was rolled in the loan. They also added 9000.00 in additional, for some unknown kickback fee, raising the home purchase and loan higher than my purchase amount and that was with 25 down payment. They forced me into foreclosure, a ROBO signed one at that and left me in litigation limbo. Hope this helps you.
0 votes Thank Flag Link Fri Apr 10, 2015
I am on my 65th day of waiting(seller) too close. The mortgage company is GVC mortgage out of Evansville, Indiana. I've signed 2 extensions, cancelled my movers 4 times. Every week on Monday we are told that they see no reason why we would not close on Friday of that same week. Friday has come gone 4 weeks in a row. It is always one more minor issue that the underwriter wants. If I ever sell another home it will not be to someone that is going FHA, or VA. And do not believe that being "pre-approved" means anything, it means absolutely nothing.
0 votes Thank Flag Link Thu Mar 26, 2015
Do not use Well Fargo. They have had us waiting since begin of August to close on our house. It is now February. I have been treated horribly by this company and hopefully now that we changed agents it will be completed shortly!!!
0 votes Thank Flag Link Wed Feb 11, 2015
We have been in a " closing loop" for almost two month with Wells Fargo. I don't have any information about Chase but Wells Fargo has been nothing but a black hole. We've been misled at every turn. If you have a choice I would never use WF.
0 votes Thank Flag Link Thu Oct 16, 2014
My son had an issue with Wells Fargo. His credit score was excellent, he had all his paperwork submitted, Wells kept asking him for information that he had already submitted. It took about 30 extra days to close, maybe a little more. There was also an address that came up that he had never resided at, so he had to have that taken off of his credit report.
0 votes Thank Flag Link Mon Sep 15, 2014
We had a situation with WF giving a low appraisal based on incorrectly calculated SF and had to change a bank, which caused a delay of 4 weeks
0 votes Thank Flag Link Mon Sep 8, 2014
You need to get ahold of your county Commissioner and make complaints You can call them
0 votes Thank Flag Link Mon Jul 7, 2014
Use Silver Bay Lending - Direct Lender or Represents other Banks Also
11 Redwood Lane, Smithtown NY 11787
631-406-6565 Quick, Cheap & Easy
The Best By Far!!!!
Check Them out on Facebook
0 votes Thank Flag Link Mon Feb 10, 2014
DO NOT UNDER ANY CIRCUMSTANCES GET A LOAN FROM WELLS FARGO.

We had a closing date of two and half weeks ago on a house in Upstate New York (we are from Seattle), so we packed up our stuff and drove across only to get an appraisal for $20,000 less than the agreed on price (which wasn't wells fargo's fault but caused a lot of issues). The builder and us agreed to meet halfway in the middle for the appraisal so we thought it was all good and we could close in about a week.

Well now every day its a new think that wells fargo needs from us or they need us to resubmit paperwork or redo the same things we have already sent in which keeps pushing our closing date. We have been staying in hotels this entire time since we are from the other side of the country with our dog. I am also in my 3rd trimester of pregnancy, so the stress of all of this hasn't been too good.

Just an FYI Wells Fargo will ask for about 3x the amount of documents that smaller lenders will. We have been under contract for over 3 months at this point and our original closing date was January 15th, but Wells Fargo didn't even request employment verification until January 14th and then called us trying to figure out why they didn't have it yet so we were quite abrupt with HR trying to get that verification only to find out it had only been requested A DAY BEFORE. Our Mortgage lady has literally had to follow up EVERYTHING with emails and phone calls to make sure people were actually doing their jobs within wells fargo, since every little piece of paper work is sent to a different division. There is a complete breakdown of communication in these departments.

In regards to the appraisal. Different comparable were submitted by both real estate agents because the house is worth the agreed upon price not the appraised one but they were refused by Wells Fargo completely, but they allowed a home that was over 25 years old (we have a new construction home). Wells Fargo didn't even submit these to the appraisal for review but instead rejected them completely. There were complete ERRORS on the appraisal that I as the buyer found immediately that were never fixed.

Wells fargo will want to take a microscope to your accounts. We had to write explanations on EVERY single deposit into our account for the entire length from contract to close and continue to have to send them updated statements as the closing date gets later and later. We had a large gift amount come from my husbands parents as a wedding gift and had to get letters from both of them, formatted in a very particular way to explain the large gift. These letters have been redone 3x at this point because they keep getting rejected.

Every piece of information you submit to Wells Fargo will get rejected and have to get redone at least once. If your mailing address for the property and the deed are not identical, you will be F*cked.

I don't even know if this home will close at this point because nothing we do is ever enough and every day they say "just one more thing". I wish I would have looked up reviews on lenders before undergoing this process.

Just run! RUN AWAY FROM WELLS FARGO! Find a small lender.
0 votes Thank Flag Link Tue Jan 28, 2014
Don't ever go with Wells Fargo. They stalled me for 6 months to close. They kept e mailing me saying the application wasn't complete and we had to respond within 12 hrs of my email { and i dont open my emails every day}or else they would forfiet application which they wound up doing. Then i had to start all over again after many phone calls. I'd avoid them. I think they were stalling just to give me a higher interest rate.
0 votes Thank Flag Link Fri Jan 3, 2014
Things have changed since March 2012. Yes there have been delays.

But Banks have been on time.

Good luck.

Ruth
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Thu Jan 2, 2014
I would never use Wells or Chase, the worst !!!!!

Very tough and challenging process !
0 votes Thank Flag Link Thu Jan 2, 2014
Whatever you do, STAY AWAY FROM WELLS FARGO! Please read their Corporate Rap Sheet, Better Business Bureau complaints, RipOffReport complaints and Consumerist complaints first!

They scammed us and caused us to suffer a loss of more than $17,000, and their only response was a token "$500 good will offer"!

Do your homework and we're sure you'll agree with the 1000's of other victims, AVOID Hells Fargo at all costs! They are the "American Dream Killing Machine".

http://www.corp-research.org/wells-fargo
Wells Fargo Corporate Rap Sheet

http://www.complaintsboard.com/?search=wells+fargo+refinance
Wells Fargo Complaints Board

http://www.vaughns-1-pagers.com/economics/wells-fargo-lawsui…
Consumer Lawsuits against Wells Fargo

http://www.bbb.org/iowa/business-reviews/mortgage-brokers/we…
Better Business Bureau Wells Fargo Home Mortgage Complaints Summary

http://www.bbb.org/greater-san-francisco/business-reviews/ba…
Better Business Bureau Wells Fargo & Company Complaints Summary

http://www.bizjournals.com/baltimore/news/2013/09/23/wells-f…
Wells Fargo Tops for number of bank complaints

http://www.foxbusiness.com/industries/2013/10/02/wells-fargo…
Wells Fargo Sued for Non-Compliance with National Mortgage Settlement

http://consumerist.com/?s=wells+fargo
Wells Fargo - Hells Fargo: Consumerist complaints

http://www.wellsfargomortgagefraud.com/
Wells Fargo Mortgage Fraud Report

http://www.worldlawdirect.com/forum/groups/justice-4-hamp-ha…
Hold Wells Fargo Accountable - Justice for Wells Fargo HARP and HAMP Fraud Victims
0 votes Thank Flag Link Wed Jan 1, 2014
Don't use Either. Wells & Chase take way too long. Use Silver Bay Lending 631-406-6565 Bank is in NJ and their office is in Long Island-Smithtown. Ask for Donny or Mike and You won't be sorry they have the best rates and it will be smooth sailing until you close. You can do everything over the phone-no need to leave NYC. If you want to talk to me call 516-840-1044
0 votes Thank Flag Link Sun Nov 24, 2013
THERE HAVE BEEN TOO MANY DELAYS WITH WELLS AND CHASE THROUGH 2012 & 2013.
USE SILVER BAY LENDING 631-406-6565 SMOOTH & EASY & BEST RATES
0 votes Thank Flag Link Tue Jun 25, 2013
Sorry- Marc.a.ruggiero@chase.com is the email and his tel # 212-471-4226
0 votes Thank Flag Link Tue Jun 25, 2013
We have had a DREAM with Chase at several of the buildings our firm Manhattan Boutique Real Estate (MBRE) represents. Our representative mortgage banker, Marc Ruggiero, is brilliant- he has gotten our buildings pre-approved with Chase so when we get a buyer, the closing time from Chase is 30 days versus the usual 2 1/2 months. Joan Brothers, MBRE,212-308-2482, http://www.mbreny.com
0 votes Thank Flag Link Tue Jun 25, 2013
Currently trying to close the sale on my home Wells Fargo is the mortgagor and insurance for the property, They are the absolute worst, they are the reason we are closing late which will cost me an extremem amount of money and may loose the sale of my home since we don't close on time, contract will be broken. So the buyer can walk, but so can I. They are the worse
0 votes Thank Flag Link Thu May 30, 2013
The mortgage refinance process with Wells Fargo took 84 days, just concluded 4/30/13. I have been dealing with Wells contacts in Colorado when I live in New Jersey. I have an existing loan with Wells thinking the process would be seamless since they already have my information and payment history. Apparently, it doesn't matter and was treated as a new client, no special treatment.

There is a lot of paper work to submit, faxing, and phone calls to keep on top of them. With the tightening of government guidelines, Refinancing has been a painful process to ensure Lenders have documentation to back themselves up just in case they get audited which I can understand.

With an excellent credit score of 810, net worth north of a million, and paying down original loan by $100K, it still took 84 days. It doesn't matter on the Lender institution, it matters on who you get as a loan processor and underwriter. Fortunately, I lucked out with knowledgeable team of Wells that was a pleasure to deal with. They picked up and returned calls even emails promptly, was extremely patient with me helping me understand the process and explaining how they get the numbers, and kept me appraised on the next steps. They do have a large queue for the underwriter to review the loan but its a partnership with the loan administrator in preparing the paperwork in your getting application presented in a way that the underwriter won't need to question.

The whole refinance process in all institutions do take anywhere between 2 - 3 months if your lucky but I know some folks who started the process in Dec with BOA and still haven't closed so I guess I'm one of the lucky ones.

Good luck in your process, its luck of the draw in who you get as your loan processor. Just pray you get an experienced and knowledgeable one to get your application moving along which is the KEY.
0 votes Thank Flag Link Thu May 2, 2013
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