Wells Fargo customers say the bank decided to pause their mortgage payments without asking

Wells Fargo is garbage.

This isn’t the first time Wells Fargo has signed up customers for services they didn’t request. The bank has come under pressure in recent years for opening unrequested bank and credit card accounts for clients; it forced others to buy auto insurance they didn’t need and, in some cases, weren’t told about.

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Good, I came out of wells fargo mortgage…!

Ouch. We just refi’d with WF.

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did you get a good deal? If yes, even WF is ok :slight_smile:

I think so…?? 3.5%? Was last October.

ah… rates much lower now. Good time to refi again.

He’s talking about it… I’d like it to get to 3.0 before we refi.

check out the Mortgage rates thread for the latest rates.

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I have heard that some Banks have paused Bank issued credit card repayments automatically when a mortgage forbearance is requested, but if what is being said about WF is true, then stick a fork in WF, they’re done.

On a side note I have seen one credit reports so far where there is an active forbearance. We’ve been told “Oh, it won’t hurt your credit” - as in a “30/60/90” day late on the mortgage account. The forbearance did however tank this persons FICO score relative to a credit report ran 90 days earlier. So far I’ve only seen one report, which does not make any of this gospel (yet). I’d be curious to hear from other’s in lending and or finance who have access to credit reports and get some feedback on FICO changes when a forbearance is showing up.

Thanks for reading