Complaint Review: Wells Fargo

February 16, 2009
Contacted Kyle Moon at Wells Fargo Financial in Nampa, ID and he referred us to the loan mitigation department. Below is the information we sent to them:

We are writing to request a modification to our existing home loan. When we started our refinance process, we met with Corey at Wells Fargo Financial in Nampa, ID. We had a plan with him that was to lower our overall monthly payments and consolidate some of our debts. During the process, Corey took another job and our case was transferred to Kyle Moon. The information we presented to Corey was not communicated to Kyle, or any of the two other agents we met with. This resulted in our home payment now being twice what it was, at an interest rate 3 points higher than before, our truck loan payment also being twice what it was, and now our out of pocket expenses are about $1000 more per month than they were. Because our situation was mishandled the first time in October 2008, we had to take out a second line of credit loan to make up the difference. The whole situation is not what we had intended when we first met with Corey.
The reason we did not call to cancel our refinance with Kyle within the three days time limit is that we received a letter from Wells Fargo stating our truck had been paid off in November 2008. A month later, we got a call asking when we would be paying our new $400 truck payment! It had turned out that our truck was NOT paid off, but refinanced. This is not what we wanted.
We cannot afford to live like this, even though I have started a better paying job. My job with the state of Idaho is classified as temporary until January 2010 and now the state has approved a decrease in state employee's income. There is no guarantee I will continue in this position because it is based on funding so I am including pay stubs from my former job, which is an accurate depiction of the financial state we were in, and I what I will have to return to, if my job is not funded past January.
I have a credit rating of excellent and my husband is rated good or possibly excellent at this point. We would like to seek a lower interest rate on our home, as it would dramatically decrease our monthly payments out of pocket. I am aware of some 1% loans available at this time and we are interested in pursuing this, or whatever other offers you might have available. We do not have any equity at this point so a refinance is most likely not an option. I would be very unhappy to have to repay a refinance fee at this point as well.


March 25, 2009 Letter sent

Update to previous requests.
I filled out a request for assistance online a few days ago. No response.
I emailed asking for the complaint department and/or vice president or president contact information. No response.
I called in to discuss loan modification 4 days ago and was told they were taking messages and someone would get back to me in 24-48 hours. Still no response.
We want a modification to our loan, as it seems we were taken advantage of in our first consolidation with Wells Fargo Financial.

I would greatly appreciate some type of response from someone as soon as possible. Our patience has run out dealing with the local agents. I would also like to file a formal complaint with the vice and/or president of Wells Fargo financial, Thomas Shipee, David Kvamme, and Jeff Grove for the poorest in customer service.

April-June 2009
Several contacts with executive office in Iowa, giving us the run around. Still no resolution to our situation
Contacts included:
Ryan Adamson
Jaimi Webb
Angie Klobnak
Shari Senn
Jennifer Hoffman
Report filed by Angie Klobnak was inaccurate, saying we told our initial agent that we were satisfied with our loan and information. Our local agent, Kyle Moon, was very aware of how disappointed we were and how angry we are about our situation. A case of he said, she said.

June 3, 2009
Received a call from a Dara, saying she is now in charge of our case, that there is a glitch in the system at Wells Fargo and that now we are to start all over with our complaint/request for modification.

Carrie
Nampa, Idaho
U.S.A.