Thread regarding Wells Fargo & Co. layoffs

I own three properties (two rental) and none of my mortgages is with WF because the rates were higher @ WF in every instance. Also, I looked into getting a HELOC to do some home improvements and WF is now out of the HELOC game.

If I remember correctly it's an 1/8 of a point and a few other benefits (on closing costs or something like that).

Shop around but also get the info on one from Wells.

I went with WF on this. I don't know much about that sort of thing, but from what I understand WF was unusually hard to deal with. It's not something you do very often, and I'm glad it's behind me now. I feel sorry for the people who have to work with them all the time on stuff like this.

Not worth it even if it's an entire percentage...these guys don't even take you seriously if you are in pre-approval phase, don't educate you, nothing. I had no clue I could pay 10k to lock in for 12 months...thanks WF.

Anyone else get spammed with WF mailers pushing for you to refinance while rates are near historic lows…

I'm an employee, never again would I use Wells for any loans. I told my Real Estate agent that I was pre qualified and told him the rate. He begged me to use his recommended loan company saying I would never close at the quoted rate. 2 days before closing they came up with some bull sh-t excuse that The HOA didn't carry enough insurance on the exterior contents. I didn't want to start the process over as my lease was up

Ended up putting an extra 5k down and the rate was .5 higher. I filed a complaint and each area covered their a-s. Never again

Get a lower rate elsewhere, and lower costs, and faster closing, and a decent appraisal, and a buyer will actually accept your offer. All that and chances are your loan will still get sold to wells.

sounds like cr---y credit ratings. I got 2.25% on refi 15y only thing I paid was the “house inspection”. paperwork was hassle free. and yeah my credit rating is well above 800s

I did a refi a couple of years ago and the rate I was offered as a Wells employee was a joke compares to the offers I got from external lenders. The Wells loan officer was practically gobsmacked when I showed him my offered rate. It was at least a full point lower than Wells.

Not competitive and not worth the hassle. Some realtors won't even take a wf mortgage offer

It's been years but I think I got a fraction off my rate like .25ish. They also covered part of closing, but they charged almost 700 for the finance inspection (the term escapes me, but supposed actual value review). I did check other banks and wells was comparable but I had decent credit. WF used to be pretty restrictive with prospective applicants. The worse your credit, the more expensive the rate (compared to other banks). Ask my family/friends who had other lenders ended up getting sold to WF in the end.

Not competitive. I get my loans through my credit union.

I applied for a loan for a piece of farm equipment (I'm an employee), the rate I received for a team member loan was around 25% interest. Obviously I said sc--w that and told the dealer to reject it and resubmit me as a normal customer, not employee... I was approved for a rate under 5.25%. This exemplifies among all the other ways they sc--w us, just how much they value us as employees. Don't waste your time applying for an employee loan, it'll cost you more in the end.

Not worth the hassle. WF rates are higher, and the endless paperwork and slow process is not worth it. Go somewhere else. I have had several home loans, and no one has ever suggested a WF mortgage, and my loans have never been sold to WF.

Not worth it .. Other banks/CU will offer you better deal. More importantly they will offer you better customer service.

You get $1000 off closing costs that are $2000 higher than everywhere else

Not worth the overpriced percentage the bank charges. Can find better rates elsewhere even after applying the ‘employee discount’

No, but they do get lots of debt and fees just like every other USian.

A garbage 12.5 bps

No