Starting this week, we're converting a number of Wachovia mortgage accounts to Wells Fargo Home Mortgage. The first set of accounts will be converted Thursday, October 1, and another set of accounts converts Friday, October 16.
When your loan converts, there will be a brief period when you'll be unable to view your account online — either at Wachovia Online Banking or at Wells Fargo Online®. For those of you with loans converting in October, here's what you need to know:
- The Wells Fargo Home Mortgage Welcome Center is a great resource for anyone with questions about the conversion process in general.
- If your mortgage is converting to Wells Fargo on October 1, you should have already received a letter from us. Starting October 5, you can sign up for Wells Fargo Online on our Online Mortgage Access page, and begin managing your mortgage online.
- If your mortgage is converting on October 16, you should receive your letter approximately ten days prior to that conversion date. Until you receive the letter, it's still business as usual, but beginning October 20, you can sign up for Wells Fargo Online to start managing your mortgage online. For steps that can help you to smooth your conversion from Wachovia to Wells Fargo, refer to these mortgage conversion checklists.
Lastly, not every Wachovia mortgage loan is converting to Wells Fargo! Until you receive a letter that provides your conversion date, it's (you guessed it) business as usual. Keep those comments coming!
This merger is being horribly managed.
It is ridiculous that I have to now have to have a Wells Fargo login to view my mortgage and a Wachovia login to view my checking and savings account, and because the integration will take 2 years to complete, I have to live with this for 2 years. What a waste of my time. This is very inconvenient.
It will be worth the refinancing fee to move my mortgage to another bank. My other accounts will be going with it.
Wachovia allowed customers to qualify for Crown checking with no fee when they had a Wachovia home loan.
Now that those loans are being converted to Well Fargo loans, will I lose my Crown banking status or have to start paying a monthly fee on my Crown account?
I have a cash short sale that was close to approval with Wachovia and now the file is being transfered. This short sale pays Wells Fargo or investor $105,000 on a $132,000 2nd mort. The 1st lender Citi has already approved this but will not grant an extension past the 20th of October. I have also been served for Forclosure by Citi and have hired a Foreclosure Attorney just incase this short sale does not get approved in time. Everyone in the industtry has told me that Wells Fargo would act quickly on this because a normal short sale offers the 2nd lien hold from $3,000 to 10%. Please help me get this to a descision maker and we all make out better. Thanks You!
I have tried to acess your "on line access page" and it will not come up.I have been paying my Wachovia Mortgage on line and I would like to know how I can now pay my Wells Fargo Mortgage on line.Your site has no information as to how I can do this. Please advise
Richard Holmes
Will my "Home Eqity Line of Credit" be moved from Watchovia to Wells Fargo with my mortgage?
Phil - What happened with your short sale process? I've submitted on offer to purchase a short sale (the seller approved it), but was waiting on the bank's approval. I was told that Wells Fargo is pretty quick with short sales & I'd have an answer in 10-15 days. It's been 15 business days since submitting the offer & I find out there's a "hold up" due to the merger. Do I continue to wait or search other properties?!?!?
Has anyone at Wells Fargo told ALFA insurance company that not every Wachovia mortgage loan is converting to Wells Fargo? ALFA is under the assumption that ALL are converting and sending the policy renewal notice to Wells Fargo. Wachovia then takes out a Binder for lack of insurance. Is this a scam or just terrible management?
Very Helpful.
Is anyone going to answer Jennifer's question? Because I'm in the same boat as her and would like to know!
I disagree that this merger is being 'handled horribly.' It couldn't be smoother and more convenient for most folks. You can't make everyone happy, but with people continuing to do business as usual, I'm not sure what all the complaining is about. I happen to have a Wachovia mortgage (when it bought out World Savings), and have independently had a Wells Fargo account since WF bought First Interstate years ago! I routinely do exactly what the first responder said is a huge inconvenience: I log in to WF to see my checking/savings, and log in to Wachovia when it's time to pay my mortgage. Big deal! I also must log in to each of my other credit cards or account websites separately from WF. You can't do it all in one place, and if the merger takes 2 years for a full transition, then just act as if there were no merger at all and go about your business. Wow, I'm just shocked at how spoiled we are here in the US and what we take time to criticize. People have lost lives and homes in other parts of the world, children are starving, and not many folks have ANY money to put in ANY bank. Please appreciate what we have here. One little extra log in?...no big deal. Thanks, WF! Thanks, Wachovia! For not making this merger a messy, conflictual one.
i am trying to get into my account ,how di get customer service?
Jennifer, I'm surprised to see that no one from Wells Fargo has replied to your question. I don't know for certain how the Wachoiva Crown fees will be handled. I do know that Wells Fargo offers PMA checking accounts (similar to Crown) without fees to qualifying mortgage customers. You may want to simply switch banks and take advantage of what WF has to offer.
Jennifer, sorry for the delay in responding to your question. I have actually forwarded your note to the product team and will post something as soon as I get an answer.
due to Wachovia "banking practices" I am charged for 19 o/d fees when in my ledger, where most people keep the records of credits & debits in there account, BY THE DATE THEY HAPPEN, not LARGEST TO SMALLEST PURCHASE,
not to say the paycheck that I have,(had,as of today)direct deposited was not even posted to my account until today(Wednesday)when in REALITY I actually get payed on TUESDAY!! So, the payment on my Wells Fargo Home Mortgage.........well,if it wasn't for Wachovia charging me......$630.00 yes, six hundred and thirty in fees I would have been able to make that mortgage payment. HEY!! Maybe that's why the government is looking into the way some banks are doing "BUSINESS"! Good luck with your merger, because, when I call to get something resolved and get told "I am not going to escalate this call any further" and promptly get hung up on, seems to me you might have customer service issues.
Hey Don, sorry for the delay in responding to your comment. If you take a look at your most recent statement, you should be able to find a number for customer service on there. Hope that helps.
Wells Fargo needs to update the website pages letting customers know what they can do at different banks. They still say you cannot make a Wells Fargo loan payment at a Wachovia financial center. You can now make Wells Fargo mortgage payments at Wachovia branches.
In the conversion of Wachovia mortgage accts to Wells Fargo, will the method of computing the monthly interest be standardized? Wachovia's method is: Principal x rate divided by 360 x actual number of days in the month.
Wells Fargo's method is: Principal x rate divided by 360 x 30 days
This means that Wachovia is charging more interest than Wells Fargo. Please let me know what is right.
Is anyone ever going to answer the questions about Crown banking?