• Report: #687538

Complaint Review: Wells Fargo bank

  • Submitted: Thu, January 27, 2011
  • Updated: Wed, February 02, 2011

  • Reported By: Tammy — Valencia California United States of America
Wells Fargo bank
1003 E Brier Dr San Brenadino, California United States of America
  • Phone: 189492824003
  • Web:
  • Category: Loans

Wells Fargo bank I was searching for lenders and mean't a Robert Prestwood who was handeling my loan and one of Well's fargo requirement is that you pay the appraisal fee up front before they send to the underwriter. San Brenadino, California

*Consumer Comment: AFTER READING WHAT WAS STATED IN 'EX-EMPLOYEE #3' AT THIS RIPOFF REPORT IT BECOMES MORE CLEAR THAT WELLS FARGO IS PART OF AN "ORGANIZED CRIME SYNDICATE".....

*UPDATE EX-employee responds: RELS KEEPS WELLS FARGO CUSTOMERS MONEY AND OVER CHARGES...CAUSES UNEEDED 2ND APPRAISALS

*Consumer Comment: Generally

*Consumer Comment: TAMMY, IT APPEARS THAT WELLS FARGO HAS BECOME PART OF AN "ORGANIZED CRIME SYNDICATE"......

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I was searching for lenders to purchase my house. One of the banks i was dealing with was Wells Fargo Bank and the require a 495.00 house appraisal fee before they can send it to the underwriter. So i paid it and was told if i did not go thru with the loan i would get that back. Well 5 months ago i went with a different lender due to the underwriters at Wells fargo are ridiculous. I have been trying to get my appraisal fee ever since. I was told to write you by Robert Prestwood whom was the guy i was working with at Wells Fargo and headvised me to write you and report them and he is no longer working at Wells and said he has recieved several complaints from other clients


This report was posted on Ripoff Report on 01/27/2011 10:29 AM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo-bank/San-Brenadino-California-92408/Wells-Fargo-bank-I-was-searching-for-lenders-and-meant-a-Robert-Prestwood-who-was-handel-687538. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

AFTER READING WHAT WAS STATED IN 'EX-EMPLOYEE #3' AT THIS RIPOFF REPORT IT BECOMES MORE CLEAR THAT WELLS FARGO IS PART OF AN "ORGANIZED CRIME SYNDICATE".....

AUTHOR: Karl - (USA)

that is preying-upon innocent and unsuspecting consumers all over the United States of America, wouldn't everyone agree?

If you 'Google' this- WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO, and watch it on the web, you'll hear the narrator discuss how many of the companies listed in the charts that are being displayed are part of an organized crime syndicate, right?

Fact: Those same charts are available on the web. Simply 'Google' this- WHO OWNS THE FED?, and go to the site with the 5 charts. Wachovia was purchased by Wells Fargo back in 2008, correct? If you go to 'Chart 3', you'll see that "Wachovia Corporation" is listed in column #2, right?

So, it appears that Wells Fargo purchased a company that was part of an organized crime syndicate, wouldn't everyone agree?

*Now 'Google' the following and read the related articles on the web-

WACHOVIA BANK AND WELLS FARGO: DRUG LAUNDERMATS TO THE WORLD

WACHOVIA COMPLAINTS SECRET LIFE INSURANCE POLICIES

WELLS FARGO COMPLAINTS SECRET LIFE INSURANCE POLICIES

BANK EXECUTIVES PROFITING ON THE DEATH OF EMPLOYEES

***After reading what is stated in all of the above articles, it becomes clear that these are some of the same kinds things that an 'organized crime syndicate' would do, correct?

Thank You

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#2 UPDATE EX-employee responds

RELS KEEPS WELLS FARGO CUSTOMERS MONEY AND OVER CHARGES...CAUSES UNEEDED 2ND APPRAISALS

AUTHOR: JON COHEN CONVICTED DRUG DEALER - (United States of America)

Tammy Frost deserves to have her deposit of $495.00 for appraisal returned. I am Robert Prestwood the HMC at Wells Fargo Home Mortgage who charged her credit card for a deposit for an appraisal if Wells Fargo did her loan. The money was charged in the dropdown as credit for appraisal. No appraisal was done so her money should be returned. The manager John Kordich is now trying to say this money was for processing...This is not true and he knows this. During my time at Wells Fargo I sae Wells Fargo overcharge customers for appraisals. example: An appraisal done for one of my clients cost $350.00 at First Choice Bank and 3 months later an appraisal Wells Fargo charged thru the appraisal company they own

they charged $1,000.00. They then charged the same client $1,2000.00 for an additional appraisal by stalling his processing. Almost all other lenders are required by the government to have arms length between the appraisal company and the lender. In the case of Wells Fargo they own the appraisal company RELS and it is a huge profit center for them. They overcharge, keep appraisal deposits and cause uneeded 2nd appraisals.

ROBERT PRESTWOOD, EX-WELLS FARGO HOME MORTGAGE EMPLOYEE

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#3 Consumer Comment

Generally

AUTHOR: Robert - (U.S.A.)

Generally the "you will get the fee back" only applies if you end up funding your loan with them. So if you went with another lender it is unlikey that you will ever get it back. This is similar to the mechanics who offer "free diagnostics", the diagnostics are generally only "free" IF you get the repairs with them.

Of course all of this depends on what you have in writing. You do have something in writing that says you will get it back...right?

If it is in writing and there were no conditions to get it back, then yes you would be entitled to get it back. If this eventually led to you filing a small claims case, then that is what it may take, but should be a pretty simple case to prevail on.

Ifyou have something in writing but it says you must fund it with them to getthe appraisal feeback, then you areout the money.

If you don't have anything in writing then it is your word against theirs. If you took this to court, unless you can get this Robert(not me) person to testify on your behalf to back up your claim it is very unlikely that you would be able to get it back. Even if you did get him to testify on your behalf it would not be guaranteed that the judge would see it your way.

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#4 Consumer Comment

TAMMY, IT APPEARS THAT WELLS FARGO HAS BECOME PART OF AN "ORGANIZED CRIME SYNDICATE"......

AUTHOR: Karl - (USA)

after watching a video available on the web.

Wells Fargo purchased Wachovia for $15.1 Billion in October of 2008. You can 'Google' this- WELLS FARGO BUYS WACHOVIA FOR $15.1 BILLION, and read the related articles on the web for proof.

Now 'Google' this- WHO OWNS THE FED?, and go to the site with the 5 charts and take a look who's listed in 'Chart 3'. (Wachovia Corportion appears in 'Chart 3', right?)

Finally, 'Google' this- WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO, and watch the entire video on the web. The charts being displayed in that video are the exact same charts as above, where "Wachovia Corporation" appears in 'Chart 3'.

***So, it is now clear to anyone with the above information that Wells Fargo has become part of an "Organized Crime Syndicate", wouldn't you now agree?

Good luck to you.

P.S. If you stay at this site and type in 683114 and go to 'Consumer Comment #2' you can read- "ORGANIZED CRIME SYNDICATE POEM"

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