Comments on: Wells Fargo – $138.6B http://bankimplode.com/blog/2009/09/14/wells-fargo/ Mon, 11 Jul 2011 17:39:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Terry http://bankimplode.com/blog/2009/09/14/wells-fargo/comment-page-1/#comment-2592 Terry Wed, 11 Aug 2010 15:24:07 +0000 http://bankimplode.com/blog/?p=82#comment-2592 We have been Wells Fargo customers indirectly since 1965. We started out with United California bank and then First Interstate bank took over then Wells Fargo took over. We enjoy several perks with our account that you can't get anymore. Free check, free overdraft protection, things like that. Every time we go into our bank, they try to pry that account away from us and change it to a new account. I ask them, why should I change? They can never give me a good answer. A few months ago, the bank manager tried to get me to change our account again. I told him I did not want to change the account and I was getting very tired of being harassed by him and his employees every time I come into the bank. Now, every time I come into the bank he sits at his desk and give me a dirty look. How professional of him. We recently bought a new vehicle and tried to get a loan from our bank. They screwed us around on the approval and offered us a ridiculous interest rate. (Our credit is golden.) The car dealer gave us a great interest rate and approved us in one hour. To hell with Wells Fargo. If this is how they treat their customers I hope they do crash. We don't keep much money in there anyway. Just enough to keep the old account going. I love to go in there just to smile at the manager. We have been Wells Fargo customers indirectly since 1965. We started out with United California bank and then First Interstate bank took over then Wells Fargo took over. We enjoy several perks with our account that you can’t get anymore. Free check, free overdraft protection, things like that. Every time we go into our bank, they try to pry that account away from us and change it to a new account. I ask them, why should I change? They can never give me a good answer. A few months ago, the bank manager tried to get me to change our account again. I told him I did not want to change the account and I was getting very tired of being harassed by him and his employees every time I come into the bank. Now, every time I come into the bank he sits at his desk and give me a dirty look. How professional of him. We recently bought a new vehicle and tried to get a loan from our bank. They screwed us around on the approval and offered us a ridiculous interest rate. (Our credit is golden.) The car dealer gave us a great interest rate and approved us in one hour.

To hell with Wells Fargo. If this is how they treat their customers I hope they do crash. We don’t keep much money in there anyway. Just enough to keep the old account going. I love to go in there just to smile at the manager.

]]> By: Janice http://bankimplode.com/blog/2009/09/14/wells-fargo/comment-page-1/#comment-2464 Janice Tue, 13 Jul 2010 19:23:51 +0000 http://bankimplode.com/blog/?p=82#comment-2464 I have been a Wells Fargo client since 1993 and in 2006 my husband and I bought a house and Wells Fargo helped us out with the mortgage. Well, in 2008 I was in a car wreck, Hurricane Dolly did some damage, and last but not lease I lost my job. Wells Fargo Mortgage helped us through this tough time. We were on 150 day reprieve which helped tremendously but we asked for a Loan Modification that would lower our monthly bills or change our 15 yr fixed note to a 30 yr fixed note. We moved to Bethesda, MD because my husband got a transfer with his job. The cost of living here is very expensive compared to Texas, so we are paying $2000 in rent and our mortgage payment of $1445.56 and then utilities, water, and gas. At the end of the month we are left with $200.00 a month for a family of 5. Well, Wells Fargo Mortgage modified it 4 times but never to our request. Yesterday after our last attempt we were denied the modification that we requested. They modified it to where we are not able to make the payments and are forced to have our house foreclosed by Sept. 7th 2010. I thought to highly of them and now they are taking away the one piece of our livelihood away. I never thought in a million years that we would have no home to come back to after my husband has worked in MD for three years. I am grateful for one thing and that is my family being healthy. God knows what else is in store for us. I pray that I am able to find a job that will at least pay for food, clothing, and a good healthy lifestyle. Thank you for taking the time to read my comment. God Bless Us All. I have been a Wells Fargo client since 1993 and in 2006 my husband and I bought a house and Wells Fargo helped us out with the mortgage. Well, in 2008 I was in a car wreck, Hurricane Dolly did some damage, and last but not lease I lost my job. Wells Fargo Mortgage helped us through this tough time. We were on 150 day reprieve which helped tremendously but we asked for a Loan Modification that would lower our monthly bills or change our 15 yr fixed note to a 30 yr fixed note.

We moved to Bethesda, MD because my husband got a transfer with his job. The cost of living here is very expensive compared to Texas, so we are paying $2000 in rent and our mortgage payment of $1445.56 and then utilities, water, and gas. At the end of the month we are left with $200.00 a month for a family of 5.

Well, Wells Fargo Mortgage modified it 4 times but never to our request. Yesterday after our last attempt we were denied the modification that we requested. They modified it to where we are not able to make the payments and are forced to have our house foreclosed by Sept. 7th 2010. I thought to highly of them and now they are taking away the one piece of our livelihood away. I never thought in a million years that we would have no home to come back to after my husband has worked in MD for three years. I am grateful for one thing and that is my family being healthy. God knows what else is in store for us. I pray that I am able to find a job that will at least pay for food, clothing, and a good healthy lifestyle.

Thank you for taking the time to read my comment. God Bless Us All.

]]> By: Texas Law http://bankimplode.com/blog/2009/09/14/wells-fargo/comment-page-1/#comment-2398 Texas Law Tue, 22 Jun 2010 16:45:17 +0000 http://bankimplode.com/blog/?p=82#comment-2398 They will pull through. The write offs are worth their weight in gold for them, and they seem to have the connections in Washington to ensure sweetheart deals and bailouts to keep them in business and profitable. My money is on growth not trouble. They will pull through. The write offs are worth their weight in gold for them, and they seem to have the connections in Washington to ensure sweetheart deals and bailouts to keep them in business and profitable. My money is on growth not trouble.

]]> By: Name http://bankimplode.com/blog/2009/09/14/wells-fargo/comment-page-1/#comment-1780 Name Thu, 17 Sep 2009 16:03:30 +0000 http://bankimplode.com/blog/?p=82#comment-1780 write offs to be profitable. A bank that does not do riskier (and thus higher rate) loans will not have the returns expected by shareholders. It’s the balance between write-offs and performing assets that makes a bank successful in the long run. Warren Buffet seems to think that Wells Fargo is a good bet, and I’m willing to bet he’s been a bit more successful than most. write offs to be profitable. A bank that does not do riskier (and thus higher rate) loans will not have the returns expected by shareholders. It’s the balance between write-offs and performing assets that makes a bank successful in the long run. Warren Buffet seems to think that Wells Fargo is a good bet, and I’m willing to bet he’s been a bit more successful than most.

]]> By: Derek http://bankimplode.com/blog/2009/09/14/wells-fargo/comment-page-1/#comment-1074 Derek Mon, 09 Jun 2008 19:07:09 +0000 http://bankimplode.com/blog/?p=82#comment-1074 I'm surprised by the doom and gloom analysis given to Wells Fargo. WFC consistently performs well and Wells Fargo Bank is the only AAA rated bank in the US as of right now. Also remember that a bank must have write offs to be profitable. A bank that does not do riskier (and thus higher rate) loans will not have the returns expected by shareholders. It's the balance between write-offs and performing assets that makes a bank successful in the long run. Warren Buffet seems to think that Wells Fargo is a good bet, and I'm willing to bet he's been a bit more successful than most. I’m surprised by the doom and gloom analysis given to Wells Fargo. WFC consistently performs well and Wells Fargo Bank is the only AAA rated bank in the US as of right now. Also remember that a bank must have write offs to be profitable. A bank that does not do riskier (and thus higher rate) loans will not have the returns expected by shareholders. It’s the balance between write-offs and performing assets that makes a bank successful in the long run. Warren Buffet seems to think that Wells Fargo is a good bet, and I’m willing to bet he’s been a bit more successful than most.

]]> By: Lorraine http://bankimplode.com/blog/2009/09/14/wells-fargo/comment-page-1/#comment-195 Lorraine Tue, 11 Mar 2008 00:41:45 +0000 http://bankimplode.com/blog/?p=82#comment-195 Wells Fargo deserves everything that they get for making loans that borrowers were not qualified for. Borrowers could no more afford payments where they were currently not paying a monthly housing payments and going into payment shock... in this case does not matter what the proposed payment was... these borrowers had no history of making a housing payment so.. needless to say it is more than 100% payment shock. I venture to say that most of these people are either currently in foreclosure or pretty close to it or headed towards bankruptcy. Since most of these borrowers had a bad credit history or no credit history at all. They don't or did not know what they were about to head into to. Wells Fargo deserves everything that they get for making loans that borrowers were not qualified for. Borrowers could no more afford payments where they were currently not paying a monthly housing payments and going into payment shock… in this case does not matter what the proposed payment was… these borrowers had no history of making a housing payment so.. needless to say it is more than 100% payment shock. I venture to say that most of these people are either currently in foreclosure or pretty close to it or headed towards bankruptcy. Since most of these borrowers had a bad credit history or no credit history at all. They don’t or did not know what they were about to head into to.

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