My husband and I are attempting to re-finance our home, which we bought a year ago with no credit pull issues. We locked a 3% re-finance rate with Wells Fargo (WF) a couple of weeks ago, but have been unable to move forward because WF says my husband’s Equifax credit report is frozen. The other two credit bureaus come back with no issues. My husband has never frozen or locked his credit.
We’ve called Equifax 4 times now. The 1st time, they said my husband has 2 credit reports under two names (he had a legal name change a few years ago so it's possible), so he submitted a dispute with proof of name change via fax and online portal. Equifax sent us an email saying the dispute was “resolved”, but WF said they still can’t successfully pull his Equifax credit. We call Equifax back a 2nd time. This time they say the name change wasn’t the issue, and confirm that his credit is unlocked/unfrozen. WF continues to say they can’t pull his credit, and WF’s tech department says it’s not an issue on WF’s end. Two more calls to Equifax, and they repeat his credit is NOT frozen and never has been. Equifax refuses to escalate to a manager--they say they "don't and won't" do that.
Meanwhile, two other banks (Chase and Quicken) have been able to successfully pull my husband’s Equifax credit report, but it’s been a couple weeks since this saga started and the refinance rates we’re being offered now are much higher. To make matters murkier, today we had WF call CredCo (WF’s 3rd party clearinghouse), and CredCo says they see my husband's credit is frozen at Equifax…
I’m at a total loss. Refinancing with WF would save us $45,000 over the life of our loan ($200 a month) and it's about to slip through our fingers due to this (unresolvable?) issue. Has anyone dealt with this situation before? It seems like Equifax is most likely at fault, but 4 phone calls later they continue to deny the problem is on their end. I also can’t figure out why Chase and Quicken were able to pull the credit, but Wells Fargo can’t. Any suggestions would be deeply appreciated. Thank you.
Submitted August 03, 2020 at 09:22PM by refinancerefusal https://ift.tt/2PnY3NS
