Set- up specialist asking for copy of buyer's trust documents or she won't process short sale package.

Wells Fargo set-up specialist asking for copy of the trust documents from buyer who is the adminstrator of a Trust.

Such a trust is confidential information and the buyer doesn't want to share that. But set up specialist says :"We do need those so if he doesn’t want to send the trust documents we cannot proceed."

I've asked the set-up specialist to ask his supervisor for specific information that they want from or about the trust. I don't think they need to see the entire document. But they may simply want to know if the buyer/executor is indeed appointed to execute the provisions of the trust.

Has anyone else run into this?

Views: 84

Replies to This Discussion

I ran into this just days before closing on and FHA pre-approved short sale with Wells Fargo. So, I guess be glad you know about it upfront...=). You have to laugh or you will cry when dealing with this crap!!
Why is the buyers trust information a secret? Never really dealt with it on a short sale but really don't see why the buyer would care if Wells saw their trust docs?
I am seeing this more with Fannie & Freddie loans.
You may provide the information for the trust and they still will not allow the
trust to close. They may require you to change the contract to
reflect the signer of the trust as the buyer.

I agree that the trust information should not be a secret, as long as their is no
relationship they should be fine.

RSS

Members

© 2024   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************