Well dang I didn't see it! I went to KVLY's website and tried to type in variations of your last name with Ry's first name in the search, can't come up with anything, but not sure of the spelling in your last name! Do you want a link? You may have to set up an account to read, I can't remember..... Here is a link that might be useful: Valley News Live

marys1000, we were not getting the rate we wanted at the end of all the documentation and qualifying, our loan broker was not understanding what the delays and the rate issues were, this was a well known local broker and personal friend of our real estate agent, not an indymac loan officer. He was having delays and indecision, plus the rate wasnt what we wanted. We couldnt figure out what was going on because we thought that bank loved us, making a good easy hunk of money on us on two prior loans. But this one was with a different division, not the construction division, then Im not sure, our broker just said we cant close with this loan, so we started up with a different bank. It was like an Abbot Costello routine dealing with the re-verifying dept there, total chaos. They left my HR line a message, 2 mintues later I was returning the call, then while on the phone with the lady who left the message, another person from her department was calling me on a different line, they were all over their phones in a sort of rush. Very unorganized and chaotic over there. I dont know why but I got bad vibes right then that they were in some kind of rush. Anyway we werent getting the rate we wanted and should have been getting, so maybe thats why our broker went to another source right away, and then the news of what was going on at Indymac hit. Long ago for construction loans we tried WaMu, but their documentation was ridiculous if you wanted to GC yourself, you had to get 3 bids written on every aspect of the process, way too much hassle and paperwork, Indymac had a review process which took in local costs by cities and checked to see if you were in line or not, then questioned line by line if necessary. All in all they were reasonably responsible, so it would seem to me that the construction loan division should not be under scrutiny now, but with the current cautionary trends and changes leads me to believe it will almost be impossible now for someone to be an owner builder and get a construction loan with out actually hiring a GC and paying that extra money.What they did use was Buildmax, dont even know if they are around anymore, but they guided and helped you get your bids and helped to present the package, the first construction loan we used them at a cost of 3 to 4 thousand not sure, but then on the second loan my husband had already become a GC, so we didnt even use anyone like Buildmax and they had no trouble with our loan docs and bids etc. I think it was mostly getting in over their heads with debt like everyone else, then a run on the bank didnt help.

>>WF is a huge percentage of the jumbo market, around 20% last I read. I would think getting out of that market would be damaging for them (but I guess not if they are doing it). Wouldn't they lose a good percentage of those high net worth banking accounts, investment accounts, etc? The answer is no. They are still charging 18%+ on credit cards, enormous fees for "extras" on checking (its competitor WaMu, for instance, admits it can offer "free" checking because they make so much $$$ off overdraft charges), spreads on corporate loans and investment accounts, etc. In comparison, being a mortgage lender is just part of their 'soup to nuts' market emphasis as a large financial institution. It isn't their sole bread-and-butter. Sheer inertia prevents most people from moving their checking and investment accounts around, and financial institutions know they can count on it. Do I bank with WF? Yup. They have the biggest ATM network in my area, and I live and die on those - I HATE going into a bank. I also have a large number of auto payments set up, which would be a nightmare to try to unravel and move to another bank. Do I have my mortgage with them? Nope, better rates were available from WaMu. Do I have my investment portfolio with them? Are you kidding? Give our family's portfolio to a bank's second-rate investment division? No way! For example, BofA took over US Capital, where some of my (much richer) friends had their portfolios managed. They are EXTREMELY unhappy more than a year later, feel they have really lost the small-firm personal touch, and most of them are starting to look around for other advisors. The notion of keeping all your financial affairs with one bank is passe these days to anyone with financial sophistication. It's like remodeling a kitchen - go with the vendor in each segment that does it better than the competition and has the features you want. The jumbo loan market is actually smaller than we think. It covers a fairly narrow range of homes from the $500K to around $2M or so. RE agents say that homes in the $3M+ range tend to be cash sales; such buyers don't need mortgages.

dreamgarden, thank you. I think that is exactly what I should do. I'm not accepting blame for a bunch of problems created by Wells Fargo. Why couldn't they reply to a dozen or more faxes? Why couldn't they reply to the telephone call? The first error is human. The rest is sloth and/or mismanagement. I am not pleased that the attorney charged so much but I was a few states away during that time. It should have taken only a few minutes of the attorney's time had Wells Fargo acted appropriately with normal business practices.