Wells is at the very bottom of my list. Just had them today tell me flat out that they refuse to honor FHA guidelines and can do what they want.
Go above the person telling you that. Man..unreal. I've had issues with Chase not knowing what the guidelines are and us having to copy and paste and tell them. It's sick.
Tell them best of luck getting their claim paid.
"Participation in the loss mitigation program is not optional. Prior to initiation of foreclosure, mortgagees are required to evaluate all defaulted borrowers for loss mitigation options eligibility, quickly activate appropriate loss mitigation options, provide housing counseling availability information, consider all reasonable means to assist the borrower in addressing the delinquency, and retain written documentation of compliance with loss mitigation requirements. Failure to comply may result in the loss of incentive compensation, interest curtailment, and other financial and administrative sanctions, including withdrawal of HUD's approval of a mortgagee."
"Servicing lenders that do not take loss mitigation seriously are in jeopardy of paying to FHA a fine equal to triple the cost of their foreclosure claim and can also be held accountable with other sanctions."
Gateway. First call to approval less than 30 days. It was crazy.
Had an amazingly easy experience with Chase. Approval of Short Sale in less than 30 days. They wanted it to close in less than 45 days after that. Buyers lender took a long time. Chase closer hustled every extension approval and final approval in less than 24 hours. Sounds like I was EXTREMELY lucky.
Ditto on Wells Fargo as #1 on these for me.