Wells Fargo truth in lending letter & GFE

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MrV0

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I applied on-line for wells fargo equity loan. I was contacted by finanical officer who gathered more info to start loan product discussions. a week passed and I never heard back from Tim my loan contact. I called and left message (s) with no return call. Yesterday, I received a package from wells fargo in the mail. The truth -in -lending letter and a loan GFE for a re-fi at 1% fixed rate was inside the package? A 1 percent 30 year fixed rate for the amount of 347k? Why would they mail out a fictitious package ???? Does the loan officer get a bonus for creating false loan applications?
 
I hear they have 1% interest rates in Canada

It sounds as though he took an application on you. The truth-in-lending is sent to thoes who apply for credit. Your credit must have been pulled and then evaluated. Most likely the GFE was also automaticly put together to protect the bank. Credit disclosures need to be produced when credit is applied for.
The loan officer was attempting to get you in to a new loan. This could lead to a bounus if he has enough production.
 
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