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So my hubby and I went to Wells Fargo March 7th to refinance our house. We gave the mortgage every single piece of paper he needed. Now, nearly 3 months later, it’s still is pending!?!?! I call him regularly and all he tells me is to keep waiting. What the heck? I know a lot of people are refinancing but is this normal?

1 Thought on FHA mortgage refinance taking 90 days?
  1. Reply
    Ed Atun
    February 6, 2014 at 8:48 am

    It is not normal. It is not acceptable. They do almost everything on the computer so it should take 21 days max. Something is wrong. Go in person to the office where the loan is being processed ( you are welcome to go there) and don’t leave until the manager or underwriter speaks to you. (Some people think that you can not speak to an underwriter but it is perfectly acceptable).
    If they give you any answer other than “Your loan will be funded in 2 days”…. switch the loan to another company.
    An interesting twist is that Wells is offering online refinances for $ 200 total fees and it is all done in minutes. But only if your current loan is with them. The delay may have saved you $ 2,000 if you can switch to the online refinance. ( I don’t work for Wells).

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