Wells Fargo Bank - Refinance Loan Denied Based on Credit
ILLINOIS -- I just tried to refinance with Wells Fargo Bank and was approved for a FHA loan of 2.85% for 30 years. My credit was approved but I decided to due a unconventional loan for 10 years at 2.85% and then my credit was denied. I was told by the loan officer that my credit was approved and to pay the 385 for the inspection and 2 days latter I got the denial letter in the mail. I feel that this is a practice of fraud and I have correspondence emails for my verification of the loan officer intent to obtain information and pay for an inspection when the loan officer knew that my application was going to be denied.
I'm in the process of talking to a lawyer and writing a complaint letter to Wells Fargo Bank so that no one else will have to go through this unfair practice of approval from this Bank.
I have never been late on my mortgage and that the treatment of how the process was done was unfair and a disgrace.