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Established Contributor
Posts: 619
Registered: ‎09-26-2011
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Wells Fargo reported @ 3 Months

I know a lot of people wonder, so thought I'd share my experience. I closed on 10/25/12, first payment due on 12/1. WF took over the mortgage within a few days of closing and started reporting this month. Didn't do a whit for my score, but it's good to know that I'm moving forward, regardless of numbers.

 

I STILL find myself wandering around my house, pinching myself, wondering if someone is going to wake me and say, "Hand over the keys, it was all a joke!"  Amazing to know that, thanks to MyFICO contributers, I actually have a HOUSE of my own.  Patience, persistence, and pixie dust! 

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Established Contributor
Posts: 736
Registered: ‎08-25-2008
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Re: Wells Fargo reported @ 3 Months


thankfulheart wrote:

 

 

I STILL find myself wandering around my house, pinching myself, wondering if someone is going to wake me and say, "Hand over the keys, it was all a joke!"  Amazing to know that, thanks to MyFICO contributers, I actually have a HOUSE of my own.  Patience, persistence, and pixie dust! 


Smiley Very Happy +1

Regular Contributor
Posts: 209
Registered: ‎01-31-2012
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Re: Wells Fargo reported @ 3 Months

Congratulations! all the hard work paid-off. 


Starting Score: EQ: 532, EX: 569, TU: 621 (All lender pull 10/15/11)
Current Score: EQ: 660,lender pull 4/13, EX: 671 lender pull 4/13, TU: 691 lender pull (4/13)
Goal Score: 700


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Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Wells Fargo reported @ 3 Months

Congrats!!!! :-) As the account ages, you should see a boost in score. It is still fairly new.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Frequent Contributor
Posts: 453
Registered: ‎01-03-2012
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Re: Wells Fargo reported @ 3 Months

Whhhheeeewwwww!!! It's nice to get a chance to log back in to this site!!!

 

Closed on 9/27/12 first payment due on 11/1/12, Wells Fargo took over my loan in October and it hit my credit in the middle of January. 

 

I'm still having a hard time driving around the corner and convincing myself that I'm going "home"... I still visit a couple friends in my old apartment complex and it feels like I never even lived there... (even after doing so for 5 years).  It's so hard to believe, as I look around, that this is all mine! 

 

I, too... owe it all to the great people here on myfico.  Without this forum, this would've never happened.

 

Also, once the mortgage hit my reports, my score went up over 40 points... I didn't have any loans on my credit, just 3 cc's reporting.

 

 

Cap1(sc) 550, Cap1 750, Walmart 750, Home Depot 3000, Amazon 700, US Bank 1500, Childrens Place 1100, JC Penney 700, Old Navy 700, PayPal 700, Torrid 700, Lane Bryant 150, Avenue 500, OSP 500, Amex Blue 2000, Disc it 1000, Walmart Disc 2200, Old Navy Visa 1700, Mortgage 09-2012, Car Loan 03-2013



Current Score: EQ 665 EX 687 TU 695


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Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Wells Fargo reported @ 3 Months

Sweet and congrats! 40 pts is a very nice boost indeed! :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Frequent Contributor
Posts: 311
Registered: ‎07-18-2011
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Re: Wells Fargo reported @ 3 Months

I closed on January 28 (sorry guys, am still getting settled in so haven't had time to post the "story", but if you've followed my thread you pretty much get the jist of what I went through) and I was so itching to make my first payment.  Not really sure why, but I guess to me that first payment solidifies that the house is "mine".  Anyway, my first payment is due March 1 and I just received a letter in the mail yesterday informing me that my loan was sold to Wells Fargo and that I should make my first payment to them.  Interesting.  Can anyone comment on their experience with making payments to Wells?  I just phoned them to set up an online account so that I can make my payments directly from my Bank of America checking account but I was not able to set up the online account.  For some reason, I am set up on the customer service/mortgage side but not the online side.  The tech guy I spoke with said that they haven't received the loan information from the mortgage side yet.  Go figure. Can anyone chime in about how quickly payments post and are credited to your Wells mortgage account?  Do they post the same day they are made or is it the next day?  I did ask the customer service rep and she said payments are posted the same day, but I know reps have been known to give mis-information so I figure I'd ask those who have been doing it. Reps keep giving me the speech about how I have a 15 day grace period before I'm considered late yadda...yadda.  I'm not even going to touch the grace period.  The payment is due on the 1st so it will be paid before or on that day, which is why I want to know.  If I make a payment on 3/1 will it post that day or on the next business day, which is 3/4, thus making my payment late (as far as I'm concerned...cuz I don't do grace periods.)  If anyone can shed some light I would greatly appreciate it.

Frequent Contributor
Posts: 453
Registered: ‎01-03-2012
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Re: Wells Fargo reported @ 3 Months

I sent my first payment as a check. All others have been paid online. I have had no issues. I am paid through April and bank with a different bank, so my money comes from a different account. Very easy.
Cap1(sc) 550, Cap1 750, Walmart 750, Home Depot 3000, Amazon 700, US Bank 1500, Childrens Place 1100, JC Penney 700, Old Navy 700, PayPal 700, Torrid 700, Lane Bryant 150, Avenue 500, OSP 500, Amex Blue 2000, Disc it 1000, Walmart Disc 2200, Old Navy Visa 1700, Mortgage 09-2012, Car Loan 03-2013



Current Score: EQ 665 EX 687 TU 695


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Frequent Contributor
Posts: 346
Registered: ‎05-29-2007
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Re: Wells Fargo reported @ 3 Months

All,

 

it is funny how Wells Fargo denied my first pre-approval application...I closed with another lender and then Wells purchased it from my closing lender...lol

 

Phumar

New Visitor
Posts: 1
Registered: ‎02-21-2013
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Re: Wells Fargo reported @ 3 Months

We've had a mortgage with Wells Fargo since 2006.  Overall we've been  happy with them.  We're in the process of refinancing right now and we're looking at other lenders because we feel we could probably get a better interest rate with someone else.

 

When  we make our mortgage payment online, it takes about 3 days for it to come out of our bank account.  I don't know if this would vary depending on who you bank with.

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