Just have what seems like a simple problem but it isn't getting resolved. I have a first with Wells Fargo and a small second with e*Trade which is serviced by PNC. The short sale approval letter from Wells Fargo states that they will pay e*Trade $2,000. However the short sale approval letter for the second is from Consumer Services a dept of PNC - not e*Trade. Title company says that the short sale approval letter for the second must be in the same name as the company receiving the $2,000 or else we need a letter stating that PNC /Consumer Services services e*Trade. PNC says that they have no such letter although in their emails they say that they service e*Trade. Has anyone had this issue with a title company. I have forwarded the PNC emails to title. Their concern is that they want to make sure that they are paying the correct entity since they are insuring the title.
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It's pretty rare for Wells Fargo or any Servicer for that matter to reference the actual name of the subordinate Lien-holder's) in an Approval Letter they are allocating funds to. Go back to Wells Fargo and request a change.
How do they know Wells Fargo is the correct entity for that matter?