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BofA is the investor on WF 1st - how do I track down the contact

Posted by Rob Regan on March 16, 2011 at 8:29pm in Short Sale Discussions

Wells Fargo denied my file because the borrower wasn't delinquent yet - they missed their first payment 17 days ago.  The negotiator wouldn't tell me who the investor is (but it appears to be BofA) or how late the borrower has to be to be considered dilinquent.  I'm assuming 30 days (please tell me i'm right :)

 

With a closed file the negotiator also won't tell me who her supervisor is (helpful, isn't she).  So 2 questions - first, how do I find the contact at BofA when they are the investor but not the servicer?  Second, how do I find out who the WF supervisor is after my file is already closed?

 

Thanks all, I love this forum.

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Replies

  • Rob Regan May 8, 2011 at 6:03am
    Update-  I resubmitted once they were 30 days late, got a new negotiator who was fast and efficient and got full approval of everything on my HUD.  So obviously 30 days was the magic default period that the first negotiator could not divulge but you guys guessed correctly on.  WF HM had the 2nd loan and was tougher on their negotiations - the seller makes pretty good income but after a few counters back and forth we also came to agreement.  Buyer escrow just started.  Thank you everyone who replied here - this forum as been enormously helpful.
  • Jeff Payne March 21, 2011 at 5:32am
    Good advice Ben.... we need to hold those contacts close to us when we have a good one :)

    Ben Benita said:

    jack...quick heads up on sharing contacts....before posting them on this or any othe rpublic site, know that if your direct contacts get too many inquiries, they can and will change their direct phone numbers, direct e-mails, etc.....ask me how I learned this.

     

    It is good to share, BUT, again as a heads up, I would not post publicly.....your call

  • Ben Benita March 21, 2011 at 5:02am

    "Investor" will be in a totlaly separate department, try the asset management, or, Google, the stock symbol and go to "Investor Relations"

     

    Jigsaw - hit or miss....many people put in dummy contacts so they can get "free access"....just a heads up.

     

    will keep an eye out for your e-mail

  • Rob Regan March 21, 2011 at 4:49am

    Thanks everyone - last question - is the "investor" in the same or similar department as a short sale negotiator?  In other words, if Jack's contacts are from Short Sales, would I be likely to run into the "investor"?  If not, what department are they likely to be in, and what Title's are they likely to have?

     

    With department and Title info I might have luck on Jigsaw.com finding a contact - I've yet to try the service but two other popular short sale sites have mentioned it as a resource. 

     

    Ben - I'm emailing you know for the letter.  Thanks for the offer.

  • Ben Benita March 21, 2011 at 4:02am

    jack...quick heads up on sharing contacts....before posting them on this or any othe rpublic site, know that if your direct contacts get too many inquiries, they can and will change their direct phone numbers, direct e-mails, etc.....ask me how I learned this.

     

    It is good to share, BUT, again as a heads up, I would not post publicly.....your call

  • JACK L UNTHANK March 21, 2011 at 3:56am
    Have a list of contact numbers . Most of should have all ready but if not more than willing to share !
  • Heather Lord March 20, 2011 at 3:50am

     

    Rob - All I can offer is the last Short Sale where I represented the buyer .... We had to wait for the seller to be 30 days delinquent before the lender would consider the file.... Hopefully this will also be the case for you and your client. Cheers Heather

  • Ben Benita March 20, 2011 at 1:34am

    Rob - send in a QWR, or qualified written request, to the "Research" or the "correspondence" department, and they HAVE to respond within 20 days by law (RESPA violation if they do not).

    If you shoot me an e-mail at BBenita@Comcast.net, I will send you the basic one we use.

     

    Keep fighting for your client, you should also find out if the loan is insured (has mortgage insurance)

     

  • Rob Regan March 17, 2011 at 12:43pm
    Great info, thanks Wendy.  I was going to wait a few more days to submit, but I may do it now with your idea of adding proof they have defaulted.  Hopefully I get a new negotiator because "no" was the only word she knew.  "no" I can't tell you the investor, "no" I can't tell you how many days they must be delinquent per the investor's guidelines, "no" I can't tell you the name of my supervisor - and that last "no" confirmed for me that no question I asked would be answered.  Bummer it is so hard to find the BofA investor contact.  Anyone else have any ideas?
  • Wendy Rulnick March 17, 2011 at 11:28am
    Rob - Good luck finding an investor "contact" at Bank of America.  I just went through  one where BOFA was the investor on a BOFA short sale.  I tried to get the investor contact - they gave me their customer service number.  As for Wells Fargo, I don't see why the supervisor's contact info cannot be provided - even if the file is closed.  Call the short sale department and ask.  Also - try resubmitting the file quickly OR call the negotiator and ask if a letter and proof of recent default could be presented to the investor (take if off her).
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