Wells Fargo and the horrid HAFA short sale process
First off let me say that I just took a short sale listing over from an agent on 10/8 who told the seller they have to contact and negotiate with Wells Fargo themselves.. lol really??
When I took over seller was already in HAFA review and had a processor assigned- Marcia Tate. I hardly ever was able to get any resposne from her so I had to communicate with customer service on a 2x weekly basis to check for updates and if anything was needed and was not informed of anything that was needed until 11/1/12. We were told they needed October bank statements and paystubs. Seller gets paid monthly and bs runs through 10-31-12. Seller rec'd both on 11/5 and faxed them in, and so did I. After that I email Marcia to make sure she rec'd them on 11/6. Seller is called on 11/9 and was informed that she is being denied because the docs were not legible and looked altered (they were not) Seller immediately overnights the docs to Wells Fargo and now Marcia is telling me she gave us more than enough time to get the docs in. I find out it is denied on 11/7.
We were never notified docs were rejected, this is ridiculous especially after calling and emailing repeatedly for updates. Does anyone have escalation contacts they would like to share??
Replies to This Discussion
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Permalink Reply by Jen Hill on
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Hi Angela, I'd try escalating with HAMP directly. Forget Wells. I've had this same thing happen on HAFA files before as well and with HAMP's help, was able to get the bank to open the file back up and process it like they should have the first time. Email HAMP at [email protected]. Be sure to send HAMP your LOA so they know you are authorized on the seller's account along and include a detailed and dated timeline of events, like you did here.
The HAMP Resolution Center will confirm receipt of the dispute and refer the dispute to Wells. Wells must acknowledge it. They then have 30 days from the date of acknowledgment to respond back to HAMP with a resolution date. If the resolution date approaches and Wells does not have a resolution, they are then required to issue an update to HAMP on the actual resolution date and every 15 days thereafter until resolved. Anybody I've ever dealt with at HAMP has been very responsive and helpful.
Another note, Wells (or any other servicer for that matter) may not refer a loan for foreclosure while the escalation case is ongoing (unless escalated case is received by the Servicer after midnight 7-days prior to the FSD).
HAMP: 866-939-4469
Good luck!
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Permalink Reply by Angela Pitre Reddy on
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Thank you! I will try HAMP but with the 30 days it takes them to respond I might have better luck just restarting the HAFA process and hope to be assigned to a different negotiator.
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No it is Marcia Tate in the HAFA dept. Who was your negotiator on the one approved in 31 days? Maybe I could ask to be reassigned to that person!
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Permalink Reply by Michael P. Jensen on
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They are operating outside of Equator on this too correct? This problematic because At least you had some two-way documentation.
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Yes, they do HAFA outside of Equator. But I do have two way documentation somewhat. I have her secure emails which I downloaded and saved as pdf files. I also have my emails to her that show me following up and her not replying until I cc'd her supervisor last night but I still haven't gotten anywhere.
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