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Comment by Bob Helmig on December 11, 2017 at 6:30am

Wells Fargo FHA SS denies seller paid concession for VA buyer, WHY?

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  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?

Comment by Terry Hammill on November 8, 2017 at 12:34pm

Just a heads up for everyone..... Wells Fargo is attempting to comply with the new CFPB guidelines but in the process has decided to destroy files on several of our short sales (they deleted all of the documents).  Be prepared that if you submit and they run the file through a loan mod and your client is denied that they will then delete all of the documents that you have submitted and send the file to the short sale department where you will have to start over.  This has happened on two of our files this week.

Comment by Leslie Donofrio on October 24, 2017 at 11:35am

Thanks. We have everything set up with our lender and are r had an offer on the house for a regular transaction at the beginning of summer and were set to close mid July. Seller was 20,000 short at close. Sellers realtor failed to get a payoff until a week from close. House was set to go to Sheriff’s Sale the day before we put our offer in. Wells pulled from sale and so we began our short. Our lender has been great. Unfortunately we have had to pay to extend appraisal and already have inspection done. So we are hoping this goes through soon, or we are out over 1,000.

Comment by ElizabethWeintraub00697006LyonRE on October 24, 2017 at 11:13am

Unfortunately, you cannot talk to Wells Fargo and your agent cannot either. You're at the mercy of the listing agent. I agree that the listing agent should escalate the file. Any number of things could have happened, including the negotiator could have been terminated, gone on vacation, quit. The hard thing is usually getting the approval from Fannie Mae. Since Fannie Mae is the investor, Fannie Mae could put pressure on WF to respond. There is no reason why you can't start your loan process, which is what I would tell my own buyer's agents to advise. Some lenders will say they can't do anything without that darned letter, but they're just blowing smoke.

Comment by Leslie Donofrio on October 24, 2017 at 4:30am

We are currently in the process of trying to purchase a home.  We had a short sale offer on a Wells Fargo home.  We started process in mid July.  A couple of weeks ago Wells said they were passing on info to Fannie Mae.  We received an approval from Fannie Mae, but they said they still needed approval from Wells.  Fannie Mae said we would have an answer within 5 business days.  It has been about 10 business days.  I am wondering if anyone can offer suggestions on how to get an answer from Wells.  We have a realtor and the seller's realtor has not been very cooperative.  Seller's realtor claims she has faxed, emailed, and called and no response from Wells.  Our realtor is suggesting escalation, but we have yet to hear anything from anyone.  As buyer's is there anything we or our realtor can do?  I don't believe the seller's realtor has much experience in dealing in short sales and we want the home but need to close on a home by years end.  I don't understand what the hold up is. 

Comment by Neil L. on July 28, 2017 at 6:05am

Does anyone have experience using yourLoanTracker on wells fargo's site? does it help expedite the short sale process?  WF claims it should: https://www.wellsfargo.com/mortgage/manage-account/payment-help/onl...

Comment by Gladys Nunez on July 17, 2017 at 8:41am

We were just denied for the SECOND time to participate in a short sale. Reason is surplus of income! We provided a very detailed financial statement showing deficit!! We have a HUD loan. We have a buyer with a strong offer on the table which according to liquidation department wasn't even reviewed. We are in line with HUD guidelines on eligibility, late on mortgage, relocation of job etc. Do not know what else to do!! HELP?!

Comment by Jenny L on July 7, 2017 at 2:00pm

If HUD denies because its past 40+ months are there options after that??  Can you apply for DIL with the servicer/investor? TIA

Comment by Dean E Eshelman, CPA, CDPE, IRES on July 7, 2017 at 8:03am

July Lyons. The process for Mod is basically the same as short sale, just not selling a house. Paper work essentially the same. Lender should have a SS package on their web site.

Comment by Pattie Johnson on July 7, 2017 at 6:45am

Does anyone have a direct phone number for Benjamin Hansel or Mitchell Janning. Thanks. 

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