Wells Fargo Short Sales


Wells Fargo Short Sales

Wells Fargo and ASC (America's Servicing Company)

This group is for information, tips and solutions for Wells Fargo short sales.

Members: 1439
Latest Activity: Jul 11

Wells Fargo Short Sale Information

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Wells Fargo Short Sale Info and Items Needed

Wells Fargo Short Sale Dept 1-866-903-1053    (see below for ASC forms)
Short Sale FAX 1-866-969-0103
Letter of Authorization Fax 1-866-917-1877

Mortgage Servicing 1-877-841-5301.

Wells Fargo Line of Credit Division 866-961-6861 or 866-970-7821

Third Party Authorization: 866-917-1877 (fax)
Fax: 866-834-7850 or 866-834-7949

Email format [email protected]
OR [email protected]


Wells Fargo Executive Offices:  800-853-8516

Discussion Forum

Investor denial

Started by Angie Fraguas. Last reply by Brett Goldsmith Jul 11. 3 Replies

Hit a wall, can we still escalate to Executive offices?

Started by Sam Hague. Last reply by Dean E Eshelman, CPA, CDPE, IRES Jun 13. 1 Reply

HELP: Wells Fargo approved SS now no contact

Started by George Blisset. Last reply by George Blisset Apr 9. 3 Replies

Comment Wall


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Comment by Jenny L on June 30, 2017 at 12:29pm

Agreed and Agreed!!  Thank you for your quick reply! 

Comment by Thom Colby CA Brkr 888-391-5245 on June 30, 2017 at 12:11pm

At the end of the day, as I've said before, she is an equal owner and a 100% borrower.  At some point you must have all got along because she agreed to be a borrower and sign on the loan.  It doesn't sound like she was a co-signer but was an equal co-borrower.  Only an attorney can answer your questions but it certainly seems like mom has every right to sell the house as much as your husband does.  You all need to work together, no matter what it takes, and get the house sold.  If payments are already delinquent, it is affecting your mom's credit and your husband's credit equally.  All said, this is not a good situation.  Don't let emotions destroy everything.

Comment by Jenny L on June 30, 2017 at 11:49am

We had an attorney as well.  She refused to sign the listing agreement because we wouldn't sign the retainer for her attorney.  How would she be able to force the primary to sign a listing agreement on a house that she cant even access??  I'm all for playing ball, but I will not have my husband sign ANYTHING with someone we do not trust regardless of what happens.  Its just a power struggle in my opinion and I was inquiring on how to move forward if the co-borrower is now resisting moving forward together (after she stated that she would sign the agreement).  Thank you again for all of the comments and advise.  I really appreciate any and all feedback!!

Comment by Thom Colby CA Brkr 888-391-5245 on June 28, 2017 at 1:17pm

Jenny,  Since your mom is also a borrower on the loan, she is 100% responsible for repayment just as your husband is 100% responsible for repayment.  I would strongly suggest you do whatever you can to move this forward WITH your mom.  Your relationship will be broken forever and I expect there's nothing stopping her from signing a Listing Agreement with a different RE Broker and force your husband to sign her Listing Agreement.  She has an attorney - play ball.

Comment by Jenny L on June 28, 2017 at 1:00pm

I appreciate all of your responses, however, I am not an agent.  I am just inquiring on options on how to move forward since we do not have to finances to put towards attorney fees and what not.  This has been very emotional and strained several relationships in the process already.  Problem being that we tried to do a loan mod and went back and forth with WF and the court program here in Will County IL for almost 2 years...and then once they had everything they needed they offered us something that was not financially responsible for us to accept.  It has been a total of 3 years now.  My mother is the co-borrower and is NOW trying to put her foot down and threaten that if my husband doesn't sign a retainer for her attorney that she will not sign the listing agreement as well as directly to my husbands face (in front of myself and the real estate agent) that she would sue him for everything hes got or have his wages garnished if it goes into foreclosure. 

If a motion of discovery was filed in court stated that docs were requested from WF how to I get an answer on what docs were actually requested.  I asked WF when I called and was advised that there was no request of docs on file...So did the attorney lie just to buy an extra 45 days??  Is there a specific department to speak with?

Comment by Helena Kaucheck on June 27, 2017 at 1:36pm

@Jenny L; in reading the threads, it sounds like you're doing your utmost to save both parties the potential legal and financial issues that comes from a foreclosure vs. a short sale.  In the 10+ years in Real Estate and the couple of hundred short sales I've worked, the emotional hurdles are always the hardest to overcome. I receive referrals from attorneys sometimes and regardless, when I sit down to discuss I have to address the emotional part first.  Any issue surrounding a valuable asset (regardless if it's under water) will bring about emotional responses.  Threatening to sue you is not a normal response but it's an emotional one for sure.  The Lender and investor holds the cards on this one and their requirements must be met to allow for a short sale.  That doesn't mean you can't ask and try to work with the lender for a solution but chances are if it's an FHA- most requirements are non flexible.  The best thing to do is truly educate the parties on what is and isn't required or allowed.  FHA also has other requirements aside from the paperwork that could effect the approval of an ATP (Approval to Participate).  I've worked with HUD/FHA to resolve issues with the Lender and/or to provide clarity on Lender based demands that seem to be out of line or just flat out ridiculous tactics in delay.  In fact, working on one right now with Freedom Mortgage servicer that has FHA on my speed dial. If you continue to run into an impasse, suggest they go to a Real Estate attorney to get some more advise (it will cost them though) and work with HUD/FHA to locate information about the process.  Since the law is outside of our area of expertise, you're best off to send them to someone who can not only counsel them but provide the potential pitfalls for doing one over the other.  That way it's their choice - good or bad- and you're not being pulled in as a party to the decision.  You are not considered Arms Length so like others have mentioned here, get yourself out of this and have another agent do this.  It may also cool down the emotional temperature of the parties.  As for the paperwork, you're going to need both parties to participate.  A quit claim is only taking them out of Title not out of the debt.  Wish you much Luck and hoping this works out for you.  

Comment by Thom Colby CA Brkr 888-391-5245 on June 27, 2017 at 1:20pm

Jenny, also check with your Broker, as your E&O may not cover a non-arms-length short sale.

Comment by Jan Sanderlin on June 27, 2017 at 10:37am

Elizabeth is correct! Jenny, get someone else on this ASAP. You won't collect a commission, and this is not arm's length, which puts you at risk as far as your license and involvement!  There are some really good resources for HUD/FHA short sales but you have to work the sale first to escalate to complain. God luck!

Comment by ElizabethWeintraub00697006LyonRE on June 27, 2017 at 9:21am

Thom: It's been a while that I've encountered one of those, too, but I would guess probably not. The banks are really cracking down today. I had a short sale recently in which the buyer's agent was also the mortgage lender for the buyer, and the short sale bank rejected it. We had to bring in another agent to represent the buyer. Also had the bank reject a mother representing her son as the buyer's agent to buy a short sale, again, had to substitute representation.

Comment by Brett Goldsmith on June 27, 2017 at 9:21am

Depends who the investor is, but many times if a family member is representing buyer/seller they wont' pay out commission.


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