Why won't Wells Fargo reinburse for my out of pocket expenses, over their mistakes?

Question

I had applied for a loan, Wells Fargo had receive all banking accounts, retirement accounts, savings accounts, W-2"s. I applied online I received a Pre-Approval/Priortiy Buyer letter, my agent said I should now start looking for a home, she new I was looking in Hawaii. I spent money for inspections, my hotel, car rental, dog boarding, food and gasoline. I spent $4468.55 on this trip, 7days before closing I was contacted by Wells Fargo, my current agent had left and I was assigned a new agent, Wells Fargo stated Amy Gooch and Wells Fargo had made a mistake on the paper work and could not lend me the money. I've contacted CEO's and VP's in the Co. Region, I received a form letter stating I would not receive the loan, ok, fine with that, what about the $4468.55, they refuse to give me that back after their mistake, do I have a leg to stand on or should I contact a my lawyer? And if anyone knows anyone from Wells Fargo, I'd like to set-up an appointment with them to discuss this matter

Answer 1

If you are able to afford real estate in Hawai'i, then $4,468.55 means very little in the scheme of things, and you should write it off as a nice trip.  If $4,468.55 is 'significant' to you, trust me, you cannot afford to live there.

If Wells Fargo had not followed to the letter any contractual obligations they had to you, they would have voluntarily offered you compensation.  You don't get to be the 5th largest bank in the US by making "mistakes".  Obviously you don't qualify for the loan.  It's possible they found something in your profile (that you had not told them)  that alerted them you did not qualify AFTER you had gone on your trip, in which case they might counter-sue you if you attempted a legal action...

Answer 2

Wells Fargo are the Vultures of the banking industry.

NEVER EVER finance anything with them...

Answer 3

I had a problem with Wells Fargo and a $60 mistake in my checking account.  This of course is much less serious than yours.  I argued with them on the phone and at my branch.  I finally told them I wanted two bags....one with all my checking and savings funds and one with my mom's!  They tried to talk me out of it but I walked away.  I think they are very shady in the way they do business.  I hope an attorney can help you deal with this bunch of thieves

Answer 4

Banks suck!  Go with a credit union.