November 2014 by Daria K.
Beware of this bank!!! We had a horrible experience with Wells Fargo becoming our Mortgage bank for our new co-op. I won't mention our teams names since I am not out for personal revenge. They delayed our process so much and nearly ruined our deal with the seller several times. A commitment letter was promised in 10 business days after the process began and it took them well over 45 days to even give us that (the very first step of a long process). The excuses were always I was at a meeting sorry, I will look at emails now (a week later as the clock is running), or underwriting is delaying everything. They had to extend our lock in rate 4 times before closing. ONLY 2 of which they covered. Even though their continuous delays caused the snowball effect of all delays created thereafter, they said the last 2 delays had nothing to do with them and they will not honor any further extensions. And, they weren't very kind about it, making us feel time and again that we were irrational for expecting good customer service. They put us in positions to have to repeatedly defend ourselves and somehow we became the confrontational ones. It was very frustrating, upsetting and disheartening. They created a few months' worth of delays on their end, they then expected us to be able to close within days after they FINALLY submitted what we needed for any next step. I'm sorry but they are a bank that deals with mortgages all the time. They conveniently ignore the fact that a co-op board has their own process and paperwork and interviews to be held that can take 3 weeks to month. But oh, of course we can close in a few days after you FINALLY submit our documents needed for the next steps. They ignored reality that we could never possibly close by the time that this 3rd extension was up, because the board is now doing their process, that they are very well informed and aware of it being a lengthy process too. Then we had to get a 4th extension, and they used up 1/3 of that extension (only 15 days and NOT business days mind you...business days are a luxury only honored when they have to submit something) by not sending us our recognition agreements that have to be signed by a few parties before a closing date can be set. SO we were left scrambling and rushing overnight mail to get things signed to have a closing within 10 days, since they lost 5 of those days for us. More days would've been lost as well, if our closing attorney didn't inform us that the bank never sent those out and were supposed to immediately do so after board approval, which they were made aware of as soon as the approval came through. WE had to correct their errors so many times to get things done. I had to personally go to my husband's personnel office, when he was away, to get information very easy to obtain that they took a month and numerous calls to try to get and still couldn't. It was beyond ridiculous how easy it was to get the information they couldn't get. THEN, they have the nerve when the closing is FIINALLY set on OUR FILE expiration date (which is very risky in case anything goes wrong, we would have to submit all paperwork all over again and delay even further) to tell us the afternoon before, actually they didn't tell us our attorney did, that their bank attorney can't show up to the closing tomorrow. REALLY!?!?!?! My attorney had to go into rescue mode to get this closing done. When the closing was done, my husband spoke to a supervisor to explain all the shenanigans that went on, how we were delayed, mistreated, how the closing was supposed to happen the beginning of September and didn't happen until October 28th! How their attorney bailed last minute. How we had to prolong our move which is now causing a dangerous situation for our almost 1 year old daughter who is so active and is forced to continue living in a too cramped and dangerous environment for her needs. To which the supervisor condescendingly replies, did Wells Fargo force you to live in this environment... well in fact YES you did, b
