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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
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Anyone having a problem with high appraisals on Wells Fargo FHA Short Sales?
Have a property that is no where near the value placed on it and the purchase price offer doesn't even meet the lowest net minimum acceptable amount.
This house is appraised $40,000 over FMV but is extremely difficult to comp.
Sadly, with each Wells Fargo FHA file I've had for almost the past year - I've had to request help from HUD. The files have closed but WF seems to fight getting to the closing table every step of the way. If you are lucky, the HUD Specialist that responds to your ticket will be from the Oklahoma office - those folks in that office are outstanding.
i truly believe the negotiator's at wells live to close down these files instead of trying to work though the hard issues. of course the same can be said with the personnel at most other servicing shops. they forget it's their responsibility to mitigate the loss, not ours.
Amy--Running into the same issues with Wells Fargo on an FHA short sale program loan. The negotiatior decided that the husband's paychecks had to be deposited into his bank account the day his employee issued them, not several days later. He works construction and travels for his job, so he has to wait until he gets back into town, and then deposit his paycheck. His employer does not do direct deposit. So the negotiator shut the file down. We have been on the phone for two days to get a supervisor. We were told only a supervisor can re-initiate the file, an we will have to re-upload all documents all over again. B of A does a much better job than Wells Fargo on FHA short sale processing. You can click your mouse in Equator and escalate to a team leader or manager right in the Equator system. Not so with Wells Fargo. If the negotiator does something stupid, and shuts down the file, you have to get on the phone with Wells Fargo and wait for an available supervisor to re-initiate it.
When they remove or reject a file what happens to all the documents? Where do they go? They press a button and self-destruct? Everyone else in this business, and any other business has to keep necessary paperwork for years, how does Wells Fargo get by with removing a file and making us start from the beginning after having worked for a year trying to get approved? Have a buyer since September. What about the apprasial and the variance on appraisal from FHA does that just disappear from their records? They made a mistake on calculating income and the negotiator would not give me the opportunity to explain what the mistake was and rejected the file. I opened a ticket with FHA and that eventually got me to a Wells Fargo underwriter who got the income issue worked out but his "re-instating the file" means he has passed it on to yet another negotiator and all documents have to be re-entered in Equator by me-every single one! So now another person to deal with...
They are also active Military.
Has anyone dealt with Residental Vacant land for a Wells Fargo Short Sale? It is an old Wachovia loan. They are about 70k in the hole.
Mary -
I don't know which of the following you may or may not have already tried, but the course I would take in your situation would be:
- call and ask to have a management escalation created. This copies the supervisor/team lead in the negotiators group, and if you make enough of a fuss, that persons manager as well.
- You know it's not Fannie, but see if it's Freddie: https://ww3.freddiemac.com/corporate/ If it is, they are fairly easy to contact directly
- Twitter can be a great way to introduce the powerful motivator of public shame. Send Wells a tweet (@Ask_WellsFargo) and state something simple such as non-responsive short sales negotiator, short sale problem, etc. Give them your name and contact phone. Do not mention the borrower name or loan number. That will usually generate a fairly quick response and help you get things moving forward again.
I have never encountered an escalation group or phone number for Wells, so hopefully some of the above will prove helpful.
Hello...in continuation of my request for an escalation number ...someone asked me who the investor is... I only know it is NOT Fannie.
I've asked before with no response from the Negotiator... that's pretty much all I'm getting is nothing!...Just plain no response. Had offer since 12/4/13...extended 2 times...buyers getting testy...they think I'm jacking them around... (ha..I laff in the face of danger!) =)
I have seriously not run into this... where they just ignore you... So, anyone have any ideas on whom to call?
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