M&T Bank

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seller must call 800-724-1633 for financial interview for House hold income and expenses 

Fax third party authorization first to 716-848-3748

Location: 8180 GREENSBORO DRIVE STE 500 MCLEAN , VA 22102 .
Members: 81
Latest Activity: Nov 20, 2018

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Discussion Forum

Principal Balance Reduction

Started by Paula Bachman Mar 23, 2018. 0 Replies

Has anyone been successful in getting a principal balance reduction with M&T Bank? Continue

Comment Wall


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Comment by Chad Gelsinger on November 20, 2018 at 9:21am

Guerry, M&T should NOT be telling anyone an FHA file has to be listed for 90 days.... They should be following the FHA Preforeclosure Sale process which includes Loan Mod review. IF M&T cannot work out a Loan Mod, the next step in the waterfall process could be a PFS... At that point, M&T should order an appraisal and 2nd value and then issue an Approval to Participate with the approvable sale price. You would then have 120 days to find a buyer at the appraised value. Keep in mind, FHA allows tier marketing with reductions on net every 30 days. Borrowers must be 31 days delinquent at the time of settlement. IF your borrower is not current on payments at application, they MUST prove imminent default. NOVAD will intervene IF M&T is not following the regs. I would  send 3rd Party to NOVAD, add the FHA Case Number and talk with them. Also, check out the FHA group on SSS for more info. Chad

Comment by Guerry Clegg on November 20, 2018 at 8:57am

Also, this is an FHA short sale. M&T is telling him the house has to be listed for 90 days before they will consider an offer. They told another agent in my office the same thing on another FHA short sale. That one is current on payments, and my seller is only one month late with no FC notice. Will NOVAD intervene if we escalate to them?

Comment by Guerry Clegg on November 20, 2018 at 8:50am

Thanks Chad

Comment by Chad Gelsinger on November 16, 2018 at 11:17am


Here are some useful contacts for M&T. You need to know if it is a standard mortgage or HELOC. There are different numbers: 

M&T Std Mtg: Short Sale Phone: 800-724-1633    Fax 3rd Party: 866-409-4642

                       Email Docs: [email protected]

M&T HELOC: Short Sale Phone: 888-526-1580    Fax 3rd Party: 302-934-2927

                       Email: [email protected]

We ALWAYS send all information via email. Chad

Comment by Guerry Clegg on November 16, 2018 at 10:29am

Anyone know if the fax numbers are current? All of the links that I've tried within this group appear dead. 

Comment by Short Sale Superstars LLC on July 11, 2018 at 4:22am

@Matthew Is this a standard sale or a short sale? What sort of relief are you looking for from the servicer for while you sell his home? Is he looking to stay current while you sell?

[email protected]


Comment by Matthew on July 10, 2018 at 7:38am

I have a client who's been good on his payments. He's federal law enforcement though and caught a double wammie. His wife left him and took a large chunk of his finances, and he was put on furlough without pay for an extended period of time. The home is also listed for sale for which we hope to have a buyer in the next few weeks, however, he may be missing payments before we can close it out. He's VERY short on finances and possibly not able to make future payments. He's contacted M&T only to get the cold shoulder. Whom should he reach out to for some relief? 

Comment by johnna lodge on March 10, 2017 at 8:21am

Anyone have a 3rd party authorization they could provide? thank you.

Comment by Neil L. on July 28, 2015 at 5:58am

For anyone who is just looking into this lender, I just had them go from faxing a package to ordering the appraisal, to telling me they would issue an approval in 3 weeks.  It's been another 11 days since they said the approval letter was coming so that's been annoying, but this has to be the fastest approval I've ever had with a 1st mortgage. Don't be afraid :) I will be looking for more M&T short sales in the future

Comment by Neil L. on July 28, 2015 at 5:17am

Rebecca, that helps to know that's possibly going to be on the approval.  And Chad, that helps knowing it might NOT be on there too! I sure wish they would issue it :) it's been over 11 days since they last responded to an email we sent, and we've sent many, and I can't figure out how to escalate this...


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