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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
@james Property being local may be problematic. If you moved move than 50 miles due to job, then variance can usually be obtained. (I am doing one of those now - FHA).
I know the short sale will ding my credit, but I can mitigate that. I cant mitigate a default or foreclosure. At least that's what my lawyer saids.
@ James Direct Message escalation department on twitter, Tap on the envelope and it will open the Direct Message window, then "@Ask_WellsFargo" (without quotations) state your contact information and property address and account number -- no personal identifying information. Second file a complaint with http://www.consumerfinance.gov/complaint/
@julie - I've completed many short sales that borrowers are current. It depends on the investors guidelines and borrower financials.
@james - short sale will ding your credit if completed.
The property is local to me. In Fitchburg, MA. Its under water a 100k, tenant situation is impossible, and my job depends on my credit score so I am really over a barrel here.
@James Faulkner, I have actually never completed a short sale that was not at least 30 days in arrears. In fact, the short sale departments won't really talk to a Realtor/short sale negotiator unless the mortgage payment is in arrears. Lets ask the pros here: Has anyone completed a short sale that was current on the mortgage payments???
@james Sorry to hear that. That is a standard PFS guideline and is something I'd screen for from the get go on a FHA short sale. Missing a payment wouldn't be the solution. You can push at HUD to see a variance can be submitted to allow you into the program but it's a long shot with your given circumstances likely. Is the property local to you?
310-564-6389
After dragging my short sale request out for almost ten months on a 3 family house, and after telling me they were going to order an appraisal they rejected my short sale request. The reason they gave me "Occupancy or Rented more than 18 months PFS/DIL requirement not met". Its a BS reason.
I am fighting it through the executive escalation team. Unfortunately because of my job I cannot miss payments on the mortgage to pressure the bank. This property is ruining me financially and mentally. I would love to hear ideas on any other options I might have to get Wells to reverse their decision. Does anybody have some contacts at Wells that have some decision making ability?
Hi Everyone! Whew! I finally closed the story on these clients who originally has a loan mod program with B of A and when we listed it last January, the second showed up! So, the 2nd TD was included in their BK but it is still tied to the property. With my assistance, the seller negotiated the 2nd from $155K down to $45K with the issuance of full recon and no derog reported. Indeed the lender agreed. However, most of the lenders would not accept this and still stated that it was a short pay. EXCEPT ONE Senior Loan Officer who was able to present this to the FHA underwriter that, officially the home was foreclosed by BofA in 2011 when the sellers were issued an NOD and after 2 years, were sent a letter offering a loan modification. It took us several lenders and 4 months until finally they are now settled in their new home from a 2 BR condo to a 3 BR 2 year old single family home. It was a hurdle, but it was finally a success.
Appreciate this forum. Thank you for sharing.
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