BEWARE:
Closing date was April 22 as of today no close. In working with my buyer and the sellers agent a discovery has been made that needs to be shared with clients who plan to use Wells Fargo to Close on a property. This appears to be nation wide. Wells Fargo is experiencing lengthy delays in getting appraisals completed and underwriters signing off.
After climbing up the ladder to the Branch Sales Manager for the Region we have only received confirmation that they are aware of the file and in contacting the process center the manager wrote: "They have agreed to make this closing happen as soon as possible, this week if at all possible but they just can not commit to that"...
It is alarming to me that the processing center cannot commit in the face of supervisory mandate. This has been extremely frustrating all around and we have almost lost this deal several times. It hangs by a thread as I write. My most recent amendment expires this Friday.
In addition to the backlog we have experience poor customer service. Below is a copy of my correspondence with the Branch Manger. Names removed.
Branch Manager:
I am forwarding a copy of this correspondence sent to _________ and _________ today. This real estate deal is at serious risk but beyond that there is an issue relevant to you. My client is your customer. The lack of customer service by Wells Fargo Mortgage is affecting his future. I appeal to you on behalf of my client who is unable to come to your branch personally as he is out the country in work related responsibilities. If you can bring this issue to the attention of someone who can make a difference we have until this Friday to save this contract.
Respectfully
Alan Kirkpatrick
Mortgage Broker: _____________________
Request that you provide an update for us on where the closing docs are for the ______________Property. Yesterday I forwarded to you a copy of the amendment the sellers required my client to sign. In the amendment we are required to sign on or before this Friday May 15th 2009. Should we fail to do so we will be in breach of contract and in jeopardy of losing this deal, which would mean that all of our hard work would have been in vain. While I can recognize the reality of what is the current landscape of mortgage delimit at Wells Fargo, I am also keenly aware that we have acted all along in good faith and have completed our responsibilities as to open and honest disclosure, depositing funds, and responding to any additional requests for information immediately. In return, from Well Fargo Mortgage, we have experienced disorganization, poor communication and a contract that it in jeopardy. I am appealing to Wells Fargo as a bank, as a local business to recognize that the names attached to this contract are not just parties to a deal but also customers of this bank who are experiencing poor service whatever the reasons. I add to that my name. My wife and I as well as all our children have been with Wells Fargo for more than 20 years. This experience is having a profound affect on me personally, financially and upon my credibility as an agent representing my client in the eyes of the sellers and the sellers agent.
Sincerely
Alan Kirkpatrick
In Real Estate like many other service professions you can experience greater and lesser service depending upon the service provider. Whatever the level service provided changing times and circumstances demand we continue to raise the bar of service we will provide.
