Changing Mortgage Lenders

Changing Mortgage Lenders

So last week we had to change mortgage lenders. Our original choice for our mortgage loan was Navy Federal Credit Union. But that didn’t last long! We had the worst experience with them, that I’ll explain in this post. So at the last minute, we had to change lenders and decided to go with Wells Fargo. Changing mortgage lenders is not something we had planned on doing, but it has all worked out well.

Talk about stressful and a huge fiasco. We started our loan process with Navy Fed on March 11th, 2016. It took more than 3 business days for them to assign us a loan officer and then 2 more business days to even contact us. Our original loan officer was extremely rude, she basically told me that my husband doesn’t make enough money and that we needed to sell his Maryland property (like we haven’t already tried). She didn’t want to run the numbers, she didn’t want to listen to a single thing I was saying. She was basically not interested in helping us. So I called back and had them change our loan officer. That took another 2 to 3 business days! Finally, a supervisor called me to talk about it. She gave me two options one without income from the Maryland Property and one with income from the Maryland Property. We took the easier option and decided to go without including income from the Maryland Property. So the supervisor offered us a specific amount at a rate of 3.375%. The next day the new loan officer calls me and tells me she has no idea what the supervisor did but they can’t offer us the amount that was told to me the day before. Nothing had changed, except we had paid off at least another credit card! So that should have been a good thing. But oh well…

Last Sunday, I got a phone call from our loan officer at Navy Fed, telling me that they had some questions about out file. They had things so backwards, had Kevin’s income wrong, etc. I totally lost faith in them to get things right. This is a HUGE purchase and I wasn’t about to let the stupidity of others ruin our chances of purchasing our 1st home together.

So I emailed our agent and asked what I should do… She immediately called me and said well my mom is a loan officer at Wells Fargo and has been for 13 years. My agent called her mom and gave her the details and her mom called me. We were on the phone for almost 2 hours on Monday afternoon. By Monday night, she had submitted our application and ordered our VA Appraisal. In less than 8 hours I had gotten the pre-approval, had our loan submitted for approval and ordered our VA inspection. Navy Federal was dragging their feet. We were coming up on two months of waiting. We already had everything else we needed like the ratified contract, etc.

I can’t say enough good things about the process and customer service with Wells Fargo’s Mortgage Department. It has been AMAZING, to say the least! I just can’t believe how user-friendly it is. Almost all of our documents have been signed electronically. Which is nice. I didn’t have to worry about printing, scanning and waiting for Kevin to sign them and send them back to me. It was SO EASY!

I also love how Wells Fargo has something called “yourLoanTracker”. It basically, shows you what needs to be done, what’s done/approved, etc. It allows you to easily track the process of your application and has all the information for Closing (once it’s been scheduled), etc.

Loan Tracker1

Complete Your Application- This section was for where you upload all your documents and then they approve or deny the files in which you upload to their system.

This is what our loan tracker looks like… Yes, these are screen shots of our actual loan tracker.

Loan Tracker2

Subcategories of Complete Your Application.

Loan Tracker3

Financial & Property Review and Subcategories

Loan Tracker4

Prepare to Close with subcategories

Loan Tracker5

At Closing and subcategories

Loan Tracker6

Manage Your Account and Subcategories

I just love how easy it is to glance at the website and see what needs to be done and what has been done already. By far this is the best way to keep a client/customer in the loop without them having to be up their loan officers butt!

If I log on to the site with my cellphone vs a computer, the phone will give me an exact percentage of how complete our loan process is. Right now we’re sitting at 20% for our entire loan process according to the mobile site.
2016-05-06 14.42.09It’s hard to believe that a company has made the mortgage process so dang easy! I’m absolutely amazed at how easily the Wells Fargo process has gone. From here on out I will recommend Wells Fargo’s Mortgage Department and I’ll be more than happy to refer others to our specific loan officer. She has been the best in this entire process. She’s turned our stressful situation into something easy and smooth.

Well I have a few things I need to do today like laundry and dishes (like always).

I hope everyone has a great weekend and Happy Mother’s Day to all you moms out there!

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