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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
Agreed, they started with a $18,000 request, then a promissory note, then accepted $500 cash.
@Pattilynn - the last time I had one like that the seller ended up doing a $500 cash contribution at COE, I would ask the negotiator what it will take to have the deficiency released and see if you can negotiate it down.
Just received the new and improved WF Demand Statement 'Approval Letter' which clearly states that:
'nothing in this Demand Statement or in the release of the note shall waive the right to seek a deficiency under the loan documents or any of its other rights thereunder, and the obligations evidenced by the note shall remain in full force and effect until paid off.'
Any help or advice is greatly appreciated and will be reciprocated...ty all.
@Paula - it is always good to know who the investor is as their guideline is what should be used for just about everything.
You might try tweeting @Ask_WellsFargo - people have had success with them.
OK... I need help I have Short Sale that Wells Fargo will not review as they are stating that the Short Sale does not fall within the Imminent Default guideline. When I look up Imminent Default it states that the benefit is caused by loss of job or illness. Well this family has had budget cut for the husband with a 20% reduction in the last two years and now their daughter has been assessed with a special health issue that their insurance will not cover all the treatment. All of this information has been sent to Wells Fargo. This poor family has struggled using their savings account to stay current. They even did a loan modification 3 years ago..
Any suggestions out there.
done, thanks
Thank you!
Does anyone have a list of allowable closing costs for an FHA Wells Fargo? We're generating a HUD and need to know what we should exclude.
Hello - is there a Wells authorization form or can we use a generic form?
thank you - Larry
I ran into the same thing recently. I would suggest that you submit a valuation dispute. This is what I was told to do by someone that claims to have been part of the FHA escalation team, fax over three or more recent comps to support the current value of the property. Make sure you mark each page in the upper right with identifying information for the loan and property address. In the top center put the words "Valuation Dispute". Call 24 hours later to confirm receipt and request that they submit for a valuation dispute. They will research to see how many valuations have been performed to date. I am told that FHA will only authorize 2 valuations to be performed total on the property. If there has not been 2 valuations, they will review your comps and most likely order a second valuation. If there have been 2, I have been told that, they will not review the comps and deny the dispute. I am currently waiting for their escalation team to finish their review of the file to find out the outcome of my request.
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