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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]
ESCALATION DEPARTMENT 866-605-0829
Wells Fargo Executive Offices: 800-853-8516
Started by Beth Walsh. Last reply by James Franko Nov 1, 2021. 6 Replies 0 Likes
Started by Kay VanKampen. Last reply by Brett Goldsmith Oct 8, 2019. 2 Replies 0 Likes
Started by Angie Fraguas. Last reply by Brett Goldsmith Jul 11, 2018. 3 Replies 1 Like
Comment
Sean,
I had a short sale with Wells Fargo a while back and they cut my commision to 5%. I got on line and started googling Wells Fargo board memebers. When I had a few phone numbers, I called and stated I woould have to think twice about helping a homeowner again with a Wells Fargo loan. I said when this market turned around I would probably not be sending them any business. I did get one very nice lady on the phone who said she would make some phone calls. I received a call back saying the commission was being raised back to 6%. I also just did this on a NON-Fannie/Freddie loan with GMAC and was able to get an exception on the commission back to 6%. Stick to your guns. LOL
Hi Bryant - I just logged on to ask a ?? on what to do when WF denies a SS because of 'no real hardship'. I have never had that happen. I also got the 'one liner' from my negotiator. I was very happy to see this comment thread.
WF says my borrower's DTI is not high enough. He is a high wage earner & not late on house or any other payments - but has A LOT of debt, including his new wife's debt & she is a low wage earner. We showed that on the income/expense. His DTI is higher than 50%. WF said his DTI was 32% - do they not include new wife's debt?
I am unsure on how to advise my seller. Does he go late on payments to be heard? Any comments, phone numbers to execs & explanations of 'going straight to the investor' would be greatly appreciated.
I'm working now on going straight to the investor. I had really good communications with the WF negotiator until he sent me a one liner stating the investor denied and he's closing the file. Caught me off guard since we were just waiting on the written approval. I guess I'll actually have to work next week :)
I've closed all of my shorts with WF. There were a couple that were initially denied and I had tro start over. So I know it will eventually get approved. I have the buyer too and he is living in his camper waiting to move into this lakefront home. I guess he won't be taking me fishing now :)
Bryant, first time I have seen that, have YOU spoken to the Investor or are you just going by what Wells tells you?
You likely just need to "play the game" a little with the foreclosure possibility and speak directly to the Investor.
Is there a "cash to closing" number that they will agree to?
If payments are REQUIRED to be missed to prove hardship, see if you can get it in writing.
You could have someone else buy the note from the Investor?
Is the Seller THAT concerned about missing payments for some reason?
Best of luck, keep us posted.
Hi Kevin,
It's a Wells loan, being serviced by BAC. I probably should have started this thread in the B of A group, I'm going to re-post this question over there. I like your thought though, it's exactly what I was thinking.© 2024 Created by Brett Goldsmith. Powered by
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