Wells Fargo Home Mortgage

Barn Man _{on Google}

Dec 6th, 2021

Earlier this year, I made a cash out, 1st mortgage app with Eddie Dayton in the Asheville NC office. It was a straightforward deal, very low LTV, very low DR, perfect credit, and a ton of stability. I was turned over to a processor named Bryce Peters. Every few days, I would get requests for documents and I returned them right away. I was asked for a YTD P&L and balance sheet, which my accountant provided and cost me $2,100. The document requests continued. Then, Peters says that my loan is approved and that closing is just around the corner. Weeks went by. Then Peters says that my P&L and balance sheet were now too old (because Peters and company were dragging their feet), so I would have to get my accountant to update them. It seemed that I was in the back seat of the clown car.
So, I cut my losses and called a company out of Atlanta who did my deal in about 3 weeks. The only thing that took them 3 weeks was the wait on the appraiser (they're very busy in this area). I advise you to say away from Wells, especially if you have a loan request that depends on deadlines. I was fortunate that I had the resources to reapply somewhere else, as it would have been a nightmare for everyone if it were a purchase money deal. YOU ARE WARNED.