Requests from Wells Fargo Home Equity

Suffice it to say, getting through the Wells Fargo Home Equity subordination process was not the walk in the park I was lead to believe it would be and we were faced with more requests and even redundant requests.  Finally on April 30, 2012 after several emails, I finally got word from Faith that Wells Fargo Home Equity was […]

Clear to Close!

Magic to my eyes!  I have had several teasers over the last few months but this is the first time I have seen these lovely words.  Certainly there must be a catch! Email exchange with Faith the Wells Fargo Home Mortgage loan officer: Faith: We are clear to close on this file.  What day did you […]

The Subordination Request

On Friday, April 20, 2012 instead of closing on my refinance with Wells Fargo as expected, I instead get an email from Faith: We’ve heard from the subordination dept.  They have requested that we provide 2 years tax returns.  We only required one year for the process of your mortgage, but subordination dept has required 2 […]

Three weeks later…

After waiting patiently for three weeks I began to get concerned again, as I would have expected to have heard from Wells Fargo Home Mortgage to set up a closing date.  Although they were not able to close at the end of March as originally planned I was hoping to close the first week in […]

The Appraisal

On March 23 the appraisal finally came in at $430,000.  That was a little lower than I had anticipated but Faith assured me we were still at 71% loan to value assuming the maximum on the equity line so we should be good to go.  Yay! I love it when things start to fall in […]

The Week of Closing (take 1)

On Monday morning, April 16, 2012 I was further encouraged to have a few busy days of email exchanges with my Wells Fargo Home Mortgage loan officer “Faith” as she got what I thought were the last few i’s dotted and t’s crossed. On Wednesday April 18, 2012 I sent Faith with WFHM an email asking for […]

March’s Conditions

While the weather was warming up, it seems the underwriting department at Wells Fargo Home Mortgage was cooking up as many things as they could to find a reason not to complete this loan.  Upon receiving the below email I asked to speak with someone higher up the food chain. 1. Borrower to provide documentation showing […]

March Winds Blow Away the Blissful Ignorance

Remember those tax returns we were not supposed to need?  Or the other nit picky documents you normally have to submit when you do not have a history with a bank?  Yeah, I had to submit them all and then some!  Some of the things they were requesting were, in my opinion, totally out of […]

The Structure

This may seem boring but I should probably lay some background on the deal structure. Currently I have two mortgages with Wells Fargo Home Mortgage: one on the townhouse I used to live in and use when I am in town and one on an investment property; and an equity line with Wells Fargo Home […]

Blissful Ignorance or Early Warning Signs?

After making loan application with Wells Fargo Home Mortgage the first week in February, I realized I would be back in the Carolinas at the end of March for a few days and suggested to Faith that we try to close around that time. By this time there had been a few annoying hiccups but nothing to […]