HELP :) work for a small office and no one is familiar with the wells fargo short sales let alone the equator system and to top it of...this is my first short sale. I did fax in the third party authoirsation form. and registered on the system....can anyone point me to an online training for this system or in general short sales...I feel totally out my depth here, but trying to help the seller out.
thanks in advance
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Log in to Equater a few times a day. Check your email often. They will not give you details on the email but will prompt you you have a message or a task. Wells Fargo, even in Equator is personality driven. If you get a tough person they will push for docs within 24 hour with Notaries on a shortsale affidavit. Have your seller send you any check stubs and bank statements as they get them.
Give them this list to start:
q Letter of authorization to speak about your account with your mortgage company (attached).
q Information page with: Borrower name, property address, borrower current address (if different), all phone numbers, emails and fax numbers, mortgage account number and social security numbers.
q Letter of Hardship (of owner/borrower) hand written is OK .
q Personal Financial Statement (List of bills/debts including home AND List of income) hand written is OK.
q * Pay check stubs (last 3).
q Completed and signed IRS Form 4506-T Request for Tax Return - requesting the past two years ATTACHED
q 1040 Tax Returns (last 2 years).
q * Bank Statements (all accounts/last 3 months).
ü Copy of Listing Agreement.
ü Copy of Sellers Disclosure.
q Any offers existing.
(* if not available please hand write note stating they do not exist and why)
Additionally download Wells Fargo Financialworksheet.pdf
If this is a HAFA deal there will be additional forms Dodd-Frank, ARASS and others. Go the Wells Fargo area on this site and they will have all the forms. Get your seller to fill out with documents upfront. You will do fine. Call me if you need some coaching through this. 832-867-0835 Tony
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