After Frank submitted my file back to underwriting for final review I once again thought things were going to move along at a pretty decent clip. I had already been approved through Wells Fargo Home Mortgage, we just needed this supposedly simple subordination taken care of and we could close the loan. Right!
Instead of getting an email from Faith letting me know we were clear to close, I got a letter in the mail from Wells Fargo Home Equity telling me the only way they would approve the subordination is if I agreed to drop my line of credit by roughly 28%, basically down to what I owed on the line of credit. As you may know, part of what drives your credit score is the amount of credit you have available. Basically, agreeing to drop my HELOC (home equity line of credit) down to my current balance would have a derogatory impact on my credit – not something I was interested in having happen!
Of course, Faith was completely silent after her “it should be any minute now” email. The letter WFHE sent had a toll-free number to call with questions so I called it. And called it. And called it. I left message, after message, after message. Oh my gosh! This was worse than dealing with Faith because I could not call one person back and hold accountable, I kept getting stuck in the call center. Ugh!
Seriously, not one return phone call. Each time I spoke to yet another unaccountable, anonymous call center worker telling me they will leave a message for the underwriter to call me to address my questions.
What is it with these people? I am reading a book right now called “Fish” and I swear, when they describe the dreaded “third floor” of the fictitious First Guarantee Financial of Seattle they were describing the customer service line at Wells Fargo Home Equity. How do these people stay in business?