Short Sale Superstars2024-03-28T09:25:32ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelmanhttps://storage.ning.com/topology/rest/1.0/file/get/3144337469?profile=RESIZE_48X48&width=48&height=48&crop=1%3A1https://shortsalesuperstars.com/group/wellsfargoshortsales/forum/topic/listForContributor?user=1jk5uw92zkch5&feed=yes&xn_auth=noViolation to Receive Additional Fundstag:shortsalesuperstars.com,2019-10-07:3468065:Topic:3990392019-10-07T22:39:12.743ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
<p>Is it a federal violation or breach for the 2nd mortgage to request additional funds over the amount that the 1st mortgage is willing to pay the 2nd? I have Wells Fargo wanting an additional $34,000 over what the 1st morgage is agreeing to pay the 2nd. </p>
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<p>Is it a federal violation or breach for the 2nd mortgage to request additional funds over the amount that the 1st mortgage is willing to pay the 2nd? I have Wells Fargo wanting an additional $34,000 over what the 1st morgage is agreeing to pay the 2nd. </p>
<p></p> Investor denialtag:shortsalesuperstars.com,2018-07-11:3468065:Topic:3940782018-07-11T17:34:25.782ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
<p>Hi Everyone, </p>
<p> I am stuck on one of my files and I am wondering if anyone has any advice. We were working on a short sale which bank countered 155k. We agreed and gave them the requested net. As soon as I sent the HUD they sent an emailing saying sorry the file was denied due to the Investor. When I asked why they told me to call HUD who was the investor. HUD told me the same thing that they denied it and since they are HUD they do not have to give me a reason why. I already escalated…</p>
<p>Hi Everyone, </p>
<p> I am stuck on one of my files and I am wondering if anyone has any advice. We were working on a short sale which bank countered 155k. We agreed and gave them the requested net. As soon as I sent the HUD they sent an emailing saying sorry the file was denied due to the Investor. When I asked why they told me to call HUD who was the investor. HUD told me the same thing that they denied it and since they are HUD they do not have to give me a reason why. I already escalated this with CFPB and got a letter stating the same. Any advice? </p> Hit a wall, can we still escalate to Executive offices?tag:shortsalesuperstars.com,2018-06-13:3468065:Topic:3933862018-06-13T17:11:56.664ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
<p>We have a condo, which is a Wells portfolio first, no second, assorted and numerous subordinate liens that should not present any issues once Wells approves. We have plenty of experience with Wells, enough to know that with a clean package, and agreeable terms, and the ability to speak with them, we have been getting them approved in a month or so for the past few years.</p>
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<p>The issue we have is that, as happens from time to time, the attorney for Wells (opposing counsel or OC)…</p>
<p>We have a condo, which is a Wells portfolio first, no second, assorted and numerous subordinate liens that should not present any issues once Wells approves. We have plenty of experience with Wells, enough to know that with a clean package, and agreeable terms, and the ability to speak with them, we have been getting them approved in a month or so for the past few years.</p>
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<p>The issue we have is that, as happens from time to time, the attorney for Wells (opposing counsel or OC) put a litigation hold on the file, thus preventing us from speaking directly to the bank. Not generally a big deal, in fact, we have never had that be an issue that cost us a closing...it just takes a more convoluted communication pathway and some extra time to get them done. Of course, that presupposes that the attorney for the bank responds to either us or the Seller's FC defense atty. </p>
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<p>Our package was clean, no additional documents needed, and that was confirmed via letter dated 5 days after BRP was submitted. So far so good, (except that letter took 11 days to get back to us..the aforementioned communication issue...had to wait for Seller atty to send us the letter, as OC didn;t advise or provide) . Not a big deal, the bank sent out their own appraiser, (for the 3rd time) and we were looking for a response within the next 30days. </p>
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<p>The issue is that Wells keeps valuing at $1.1Mil or more and it has been on the market for 400+ days. For reasons we won;t get into here, beyond the market stating unequivocally as evidenced by good showing activity and only one offer at $940K that the unit is not worth that much. </p>
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<p>We now have a buyer that ordered their own appraisal and it came back at $965K. That buyer is under contract at more than that but less than $1M. They are willing to stay at the contract price, but we didn't even get a response to the offer and clean package for 90 days, and which was at the $1.1M figure. again. I know, that is their default first response, but time is not on our side at this point. After 400+ days, and now have requested a value dispute via OC and provided the appraisal.</p>
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<p>Again, we have done countless value disputes, most successful, others not, and others somewhere int he middle, but thats short sales.....</p>
<p>OC is a well known (around here) foreclosure mill, I seem to remember using the executive office one time in the past, but since some of the posts are a bit dated here, i wondered if anyone knows the current contact information for the executive offices?</p>
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<p>Regards and thanks in advance,</p>
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<p></p> HELP: Wells Fargo approved SS now no contacttag:shortsalesuperstars.com,2018-04-05:3468065:Topic:3920652018-04-05T15:25:49.498ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
<p>Seeking help with Wells Fargo on approved As. No contact from negotiator after approval provided. Does anyone have management contact or direct contact to check status. The entire process has been one huge nightmare with WF. </p>
<p>Seeking help with Wells Fargo on approved As. No contact from negotiator after approval provided. Does anyone have management contact or direct contact to check status. The entire process has been one huge nightmare with WF. </p> FHA WELLS FARGO SHORT SALEtag:shortsalesuperstars.com,2018-01-27:3468065:Topic:3918352018-01-27T03:28:40.290ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
Attempted to purchase a home in Indiana for 180k. At closing a lien came up due to HAMP MODIFICATION. Sellers under water on house by 60 K. We had our own bank appraisal done which came back at 183k. Our offé on home was 180k. Seller accepted offer; however did not know about HAMP Mod rule to keep house 10 Yrs without paying back part of modification if house was sold. Long story short seller decided to short sale, Wells Fargo I'd short sale. They have our offer but our loan already expired…
Attempted to purchase a home in Indiana for 180k. At closing a lien came up due to HAMP MODIFICATION. Sellers under water on house by 60 K. We had our own bank appraisal done which came back at 183k. Our offé on home was 180k. Seller accepted offer; however did not know about HAMP Mod rule to keep house 10 Yrs without paying back part of modification if house was sold. Long story short seller decided to short sale, Wells Fargo I'd short sale. They have our offer but our loan already expired once as we paid for extension and will expire Feb 18th 2018 again. Wells ordered BPO awaiting results. Can anyone e in Indiana help us or maybe provide some names numbers to escalate this matter so we might close by Feb 18th 2018? Is it possible? Title work done, our loan is ready to go just wait on WF but it seems they work at snails pace and we never talk to the same person twice. Our relator is representing us and is the listing agent. Any help is very much appreciated. Wells Fargo FHA SS denies seller paid concession for VA buyer, WHY?tag:shortsalesuperstars.com,2017-12-11:3468065:Topic:3912782017-12-11T17:16:38.293ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
<p>Is this a FHA guideline or Wells Fargo not to pay seller paid concession for VA buyer,? Do you have a Manager/Supervisor contact # to discuss further at WF SS dept?</p>
<p>Is this a FHA guideline or Wells Fargo not to pay seller paid concession for VA buyer,? Do you have a Manager/Supervisor contact # to discuss further at WF SS dept?</p> Denying Buyertag:shortsalesuperstars.com,2017-10-24:3468065:Topic:3895922017-10-24T16:29:50.743ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
<p>I'v been working on a short sale with Wells Fargo and today I get an email that stated "<span>we can’t proceed with the current buyer due to the transaction not meeting Wells Fargo standards", but no specific reason as to why. I have closed other deals with this buyer and haven't had a problem. In turn I emailed the negotiator to please explain further and he tell me he can't because it's proprietary information. Has this happened to anyone and if so what steps was taken to get it approved…</span></p>
<p>I'v been working on a short sale with Wells Fargo and today I get an email that stated "<span>we can’t proceed with the current buyer due to the transaction not meeting Wells Fargo standards", but no specific reason as to why. I have closed other deals with this buyer and haven't had a problem. In turn I emailed the negotiator to please explain further and he tell me he can't because it's proprietary information. Has this happened to anyone and if so what steps was taken to get it approved with the buyer? </span></p> Escalationtag:shortsalesuperstars.com,2017-10-18:3468065:Topic:3897802017-10-18T02:19:30.360ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
<p>I have a short sale in process with a courthouse sale date of Oct 25th! It was denied once and resubmitted with the investor only taking an aprox $100,000 loss on a $1.3m loan. Can not get ANYONE to respond to calls or emails.</p>
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<p>Does anyone have an escalation contact?</p>
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<p>Thanks much</p>
<p>text me at: five six one, six oh two, one two five eight....</p>
<p>I have a short sale in process with a courthouse sale date of Oct 25th! It was denied once and resubmitted with the investor only taking an aprox $100,000 loss on a $1.3m loan. Can not get ANYONE to respond to calls or emails.</p>
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<p>Does anyone have an escalation contact?</p>
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<p>Thanks much</p>
<p>text me at: five six one, six oh two, one two five eight....</p> Online WF Short Sales?tag:shortsalesuperstars.com,2017-07-31:3468065:Topic:3885032017-07-31T13:23:34.095ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
<p><span class="font-size-4">Does anyone have experience using yourLoanTracker on wells fargo's site? does it help expedite the short sale process? WF claims it should: <a href="https://www.wellsfargo.com/mortgage/manage-account/payment-help/online-status/" target="_blank">https://www.wellsfargo.com/mortgage/manage-account/payment-help/online-status/</a></span></p>
<p><span class="font-size-4">It doesn't appear to have an agent portal so using the seller's id would be necessary.</span></p>
<p><span class="font-size-4">Does anyone have experience using yourLoanTracker on wells fargo's site? does it help expedite the short sale process? WF claims it should: <a href="https://www.wellsfargo.com/mortgage/manage-account/payment-help/online-status/" target="_blank">https://www.wellsfargo.com/mortgage/manage-account/payment-help/online-status/</a></span></p>
<p><span class="font-size-4">It doesn't appear to have an agent portal so using the seller's id would be necessary.</span></p> Wells Fargo Short Sale - HELP HELP HELPtag:shortsalesuperstars.com,2016-11-09:3468065:Topic:3810052016-11-09T18:47:04.957ZDean E Eshelman, CPA, CDPE, IREShttps://shortsalesuperstars.com/profile/DeanEEshelman
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<p>Hi Short Sale Superstars. I need a management contact for WF. I had an FHA short sale that I was working on. The short sale approval for issued for Buyer #1. Buyer #1 subsequently cancels the contract. I had a backup contract which i promptly faxed into WF. Received a call from the processor saying they needed a HUD variance to extend the appraisal since it had just expired. </p>
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<p>On Thursday, I received an email from the processor saying the variance was approved.…</p>
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<p>Hi Short Sale Superstars. I need a management contact for WF. I had an FHA short sale that I was working on. The short sale approval for issued for Buyer #1. Buyer #1 subsequently cancels the contract. I had a backup contract which i promptly faxed into WF. Received a call from the processor saying they needed a HUD variance to extend the appraisal since it had just expired. </p>
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<p>On Thursday, I received an email from the processor saying the variance was approved. He also needed the PFS Addendum with wet sigs. We had sent it in with electronic sigs. It was faxed an emailed directly to the processor on Monday asking him if needed anything else, to please contact me. So a 2 business day turnaround. 10 days later WF forecloses.</p>
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<p>Does anyone have any management contacts that I can talk to. I need someone higher up in the food chain.</p>
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<p>Thank you, Allan </p>