Wells Fargo Short Sales

Information

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: Oct 27, 2022

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]

ESCALATION DEPARTMENT 866-605-0829

Wells Fargo Executive Offices:  800-853-8516

Discussion Forum

What can I expect?

Started by Beth Walsh. Last reply by James Franko Nov 1, 2021. 6 Replies

Violation to Receive Additional Funds

Started by Kay VanKampen. Last reply by Brett Goldsmith Oct 8, 2019. 2 Replies

Investor denial

Started by Angie Fraguas. Last reply by Brett Goldsmith Jul 11, 2018. 3 Replies

Comment Wall

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Comment by Michael Schneider on October 25, 2011 at 9:23am

I needed to send in the Death Certificate and the Court order appointing the, in my case, Administratrix.  Then, all was fine.

The estate had no value, basically, so the approval was relatively quick..

Comment by Verna Hierath on October 25, 2011 at 9:11am

Unique Situation?

Seller is deceased, trustee has authorized me, trust attorney has provided a letter (on attrny letterhead) explaining AZ state law along with authorization.  I have sent in all appropriate docs several times since MAY 2011.  I have yet to speak to anyone at WF that can can help as no one seems to know nor understand what to do when the borrower has passed on and the trust has taken over.

Any help will be greatly appreciated.

 

VH

Comment by Mike Horton on October 18, 2011 at 12:14pm

Phil, you might want to see if the seller will contribute something or possibly the buyer. Then check with wells to see if they will allow it. In a previous deal with wells they did not allow the contribution so the seller reached an agreement with the 2nd for 50% (in my case) pre-close and then the Wells approved hud showed no 2nd. Often the 2nd will make more from the loss than the 10% so you have to find out where the cross over point is for them to see a better reurn.

Comment by Jim Hale on October 18, 2011 at 10:43am

Phil -

Tell the credit union that 10% is a deal.  6% is more likely.

 

And tell him your client will "occupy" his entrance with a sign saying that they are forcing people to bankruptcy because they won't cooperate on short sales. :-)

Comment by Ben Benita on October 18, 2011 at 10:02am
Have them put something like this in writing:

".....we REQUIRE the homeowner to ruin his/her credit in order to complete the short sale....."

Tell them your seller needs this for future credit usage.....it has worked for us in the past when we ask them to put it in writing.
Comment by Amy Martin on October 18, 2011 at 9:52am

I am working on a short sale with wells fargo where my seller is current and prove imminent default. Gave bank doctors notes and bills. Mr. Seller is very responsible with debts no matter how they can pull bills he will pay. Mr. Seller is on deployment and wife is serious medical condition, had lung transplant and followed by complications. She needs to move to base housing close to a hospital. I have been working on this short sale since July. HAFA declined. HAP decline and now investor declined. Where do I go from here?

Comment by Phil Sotelo on October 18, 2011 at 6:44am

I have a deal with Wells Fargo that they are only paying 10% of balance for the 2nd which is $8,900, the 2nd lien is with Golden 1 credit Union. They are not accepting $890. as a payoff, they want the full amount of $8,900. I have talked to a manager and he said they don't accommodate on short sales and they want the full balance, he doesn't care if it forecloses. Any suggestions???

Comment by Amy Martin on October 17, 2011 at 9:44am

Heard of a short sale being considered due to imminent default? I have one short sale with Wells Fargo due to wife's medical serious condition and will default. Appreciate any input and what wells fargo wants to see.

Comment by Pam Graham on October 17, 2011 at 3:47am

I was told by the negotiator, that the addendum had to be done prior to closing, when I asked her if we could do it at the closing table. Sounds like Kent has had many successes by having it done at closing, which makes alot more sense.

Comment by Kathleen Lordbock on October 17, 2011 at 3:34am

We often close by mail and overnight- so this is a huge pain. We have had each group sign and get it notarized where they are at and then submit all the pages of this foolishness together!!

 

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