topic Re: Wells Fargo reported @ 3 Months in Mortgage Loans

Wells Fargo reported @ 3 Months

thankfulheart — Mon, 11 Feb 2013 08:39:34 GMT

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!

Re: Wells Fargo reported @ 3 Months

203bravo — Mon, 11 Feb 2013 14:47:45 GMT

@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!

Re: Wells Fargo reported @ 3 Months

K_J — Mon, 11 Feb 2013 16:19:59 GMT

Congratulations! all the hard work paid-off.

Re: Wells Fargo reported @ 3 Months

Anonymous — Mon, 11 Feb 2013 16:24:34 GMT

Congrats!!!! :-) As the account ages, you should see a boost in score. It is still fairly new.

Re: Wells Fargo reported @ 3 Months

Anonymous — Mon, 11 Feb 2013 17:24:19 GMT

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.

Re: Wells Fargo reported @ 3 Months

Anonymous — Mon, 11 Feb 2013 17:30:57 GMT

Sweet and congrats! 40 pts is a very nice boost indeed! :-)

Re: Wells Fargo reported @ 3 Months

Anonymous — Wed, 20 Feb 2013 18:50:57 GMT

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.

Re: Wells Fargo reported @ 3 Months

Anonymous — Wed, 20 Feb 2013 18:58:46 GMT

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.

Re: Wells Fargo reported @ 3 Months

phumanr — Thu, 21 Feb 2013 00:20:45 GMT

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

Re: Wells Fargo reported @ 3 Months

Anonymous — Thu, 21 Feb 2013 14:04:55 GMT

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.