Fed up with Wells Fargo

[terrymac]

I guess I am just looking to vent a little. Was supposed to close on the 24th, but that did not happen because Wells Fargo had not set up the appraisal. Now that the appraisal has been done, I have a tentative closing for Feb 29, but seriously doubt that is going to happen as well. Now, they are saying that my SS withholdings on the 2011 W2, does not meet IRS guidelines. What the ....? I took my W2 to the local IRS office near me, and the agent is saying he has no idea what they are talking about. The IRS guidelines have been changed from 6.2% to now 4.2% and what is calculated is what is on my W2. Then I called my payroll department at my job and they too have no idea what Wells Fargo is talking about or what they are basing their calculations on. I am so over this, I am seriously thinking of just forgetting the whole thing.

[IOBA]

Vent my friend.  Vent.

It sounds like the person who said that is unaware of the change.  Just print out the new ss withholding tax law and show it to that person.  Include a few newspaper articles.

[FrugalRican]

The person might be confused and thinking that it actually changed, when they didn't.

The bill was signed to extend the same cut through the rest of the year. But a lot of banks got a memo in mid-January to remind them that this would be changing (back before the law was extended). This might be why.

I'm inclining this more towards the person being confused, not being presently informed, or not checking his own paychecks.

[roshan]

That really sound like under writer doesn't know about the changes. 

Have your accountant call him and tell him that. Also give them news artical about change.

I have a quick question for you:

I am planing to go with Wells Fargo as my mortgage lender. I am under contract now and contract is in AR now.

So can you please tell me when did you do the initial application with WF and how many days did they took to give you commitment and to clear to close.

This is be big help as i need to close in 30 days as my current lease expires on March 30.

Thanks

[payingoffdebt001]

i recall the change, but I dont see the issue..sounds like you are paying more into Social Security. I can see it being a problem if you were not paying the proper amount and have underpaid there fore you owe into SS but that is not the case.  So weird!

[terrymac]

Hi Roshan,

I applied for my mortgage with WF on Jan 25, and was originally to close on Feb 23, but that was moved back to Feb 29 and  now March 1.   I had or thought I had all my paper work in order, but they kept asking for asking like 5 or 6 times. I was on the verge of tears several times, but whatever they wanted, I sent. Just make sure you have access to a fax machine because you will constantly be faxing something. I guess a month is not so bad really. Just keep talking to your LO to find out what you need to submit before they ask you for things at the last minute. Good Luck!!!

[roshan]

Thanks Terry

My LO seems to be very educated about WF loans so I have given him everything whatever he asked.

So he has send my application to Under Writer to give me conditional commitment letter before home appraisal.

So he said i should get that by next week. So I am keeping my fingers crossed.

he said i shoudl get my GFE and truth in lending by mail by end of this week. or Monday for sure.

So I am hoping for the best.