We filed a complaint with Consumer Financial Protection Bureau http://www.consumerfinance.gov/ because it was taking them 45 days to get an appraisal and Max Stone called out of nowhere and said they canceled the loan application and wouldn't say why and he never ever put anything in writing which sounds rather shady. His manager Dixon Sewell and 770.619.1426 never answered any e-mails. The person who took the application Brannon Biddy wouldn't give us Max Stone manager's contact information so I had to research to find it. Never got our appraisal and Max Stone
Started the loan application on April 17, 2016. All of our paperwork turned in immediately or within a day. At that time they knew I had 2 jobs. 1 was a W2 with an educational institution, the other was a 1099 for a company that I did contract work for and had went from a W2 there to a 1099. All paperwork was in and we kept asking when are you going to do an appraisal. Brannon Biddy said it was in committee this went on or 3 weeks and I knew something was wrong. I kept asking can you just get a new appraisal. After we got Max Stone involved he said, but again never put in writing, that because we started an application and didn't complete it within a year we had to wait until a year. They didn't tell us this because they didn't want us to go elsewhere. When they finally ordered it on May 26 over 1 month later it took until June 11 for the scheduled appraisal.
After they learned that we had no only reported them to Consumer Financial Protection Bureau and to the Office of the Comptroller of the Currenty they out of nowhere called and left a voicemail no less to say the loan application was canceled. Shady? Yes indeed! Especially the fact they would never put anything in writing..
Be wary of you apply to Wells Fargo and get Brannon Biddy or Max Stone.
#2Author of original report
Sat, October 08, 2016
Thanks Max Stone of Wells Fargo for pubically showing your lack of integrity and breaking the law by revealing confidential information. criminal activity seem to be par for the course for WellsFargo. Your actions are a firable offense. Refinanced with Associated Credit Union at 2.5% so your incompetence actually helped us out. You didn't reveal the 1 year rule until 1 month later. Think you weren't a crook just incompetent.
brannon
Alabama,#3REBUTTAL Individual responds
Fri, October 07, 2016
Peter had previously tried to refinance with Wells Fargo in June 2015 and had an appraisal done. He chose not to move forward at that time. We can recertify an old appraisal as long as the loan did not close. This recertified appraisal is good for one year with us after it is completed. It just so happened that Peter tried to refinance a year afte that appraisal as done and the appraisal from previously expired during Peter's application and we had to get a new one.
Little did I know that during the process, the borrower went from W2 to 1099 at one of the employers. As a result, we could no longer use the money for DTI purposes from that employer. This took your DTI too high for any of the programs we offered.
You also say that I wanted your interest rate to go up so the bank could charge a higher interest rate. I do not think you understand that the interests rates we give, has no bearing on how much money we make on the deal.
Next time take some fault of your own before you go trying to hurt someones reputation in the industry.