Comment

Comment by Brenda Houghton on April 8, 2013 at 6:25am

Staci, if you are able to look up public documents on line, the FHA Case# will be on the mortgage documents the homeowner signed at closing. 

Comment by Staci Coleman on April 8, 2013 at 6:20am

The property is vacant. We have sent notarized letter stating that it hasn't ever been rented. I'm working with the home owner to get me the FHA Case# to send to HUD. Thanks

Comment by Kevin - Greenville, SC on April 8, 2013 at 6:07am

• Non-owner Occupant Exceptions – Mortgagees are authorized to grant reasonable exceptions to non-occupant mortgagors when documentation indicates a property was not purchased as a rental or used as a rental for more than 18 months, immediately preceding the approval into the PFS program.

Source Mortgagee Letter 2008-43

Comment by Thom Colby CA Brkr 888-391-5245 on April 8, 2013 at 6:03am

Staci - Is the property occupied or vacant?  Have the Seller / Owner sign a Sworn Notarized Affidavit by the Owner(s) attesting that the property is not now nor ever been a rental (if that's true) - then attach to it interior and exterior photos including every room.  Send that ASAP to Wells and HUD requesting confirmation of receipt.  Not sure it will work, but it's worth a shot !

Comment by Staci Coleman on April 8, 2013 at 5:54am

I need help. I have a short sale that has been flagged as a rented property. HUD will not setup the short sale per WellsFargo. The property has never been rented. Any advise on how to get them on the same page or what to supply to get them to accept this short sale. The owner has a foreclosure date of 4/16.

Comment by Kevin B Tolbert PA on April 7, 2013 at 1:10am

Just wanted to let everyone know that WF has been my favorite bank for SS for the last 2 years.  I currently have a 15 day record from contract to closing with them on a HAFA shortsale and all have taken under 60 with an average of 30 days for cash buyers.

However my current one we sent in for a HAFA preapproval and in WF terms is called an NOSS or Notice of Short Sale which in my terms is a HAFA preapproval letter. 

We have all seen them.  This gives you the listing agent the price, the costs, and the exact net they are willing to accept.  This is submitted completely ahead of listing the home and makes your job so much easier as you now have an approved price to sell and can generally close in under 30 days once you get the buyer.

These letters have all be coming with WF in less than 30 days or quicker until now.

My file got assigned to Denisha McNeal [email protected] and if this happens to you, put your TRAINING HAT on folks.

After 5 weeks waiting for an NOSS, Denisha emails me that she needs the listing agreement, titlework, HUD, buyers contract, and buyers POF.

I explain the HAFA program is designed WITH or WITHOUT an offer and she will not get these items until we get the NOSS and start marketing the home.

She argues that is NOT the way HAFA works.

I actually had to escalate the file so someone from the executive team would call her and explain the HAFA program.

She emailed back and said now she is sending for NOSS approval.

5 weeks wasted and no where so far.

I have a list of wonderful success stories with many wonderful negotiators and some of them saved on speed dial who look forward to working with me as they know and I know we are both very good at our jobs and we set closing records together, but it is obvious that not all employees at WF are trained the same.

 

Comment by Wendy Smith on March 20, 2013 at 10:13am

Well, I don't agree with the attorney. As a matter of fact, I like short sales that have been thru BK because the seller does not have to provide any financial information provided the debt was discharged in the bankruptcy which it probably was in a CH13.  Wells is a little squirrely with BKs & SSs - I have one now that Wells already sent the seller a 1099 but the negotiator thinks financials are still needed.  We are working our way thru that.  Interestingly, the 1099 states what Wells reported(IRS)  as Fair Market Value of the property, accordingly I explained to the negotiator there shouldn't be any need for a BPO since Wells already determined FMV.  LOL. We'll see how that flies! 

Comment by Denise Sipple on March 20, 2013 at 9:59am

Anyone had any luck getting the Bankruptcy Attorney and Trustee to agree to short sale a property that was included in a chapter 13?  Wells filed a motion and it was granted to have the property removed from the bankruptcy.  The BK attorney is saying that gives Wells the OK to foreclosure but they can't do a short sale.  There has got to be a better way.... 

Comment by Kevin - Greenville, SC on March 18, 2013 at 8:01am

Fred, Try (877) 841-5301

Comment by Fred Shocklie on March 18, 2013 at 7:57am

Does anyone have a contact to escalate a file at Wels? I am working directly now with the investor, Freddie Mac, but Wells will not send them the offer. They are asking for stuff that has nothing to do with the offer and I feel they are asking me to violate state rules by altering documents once they have been digitized. We wrote an addendum to address their concerns but the Marketing Rep is rejecting the offer again.

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