Comment

Comment by Kevin - Greenville, SC on March 5, 2013 at 3:32pm

Joanne,  What type of Loan?

Comment by Joanne Finochio on February 21, 2013 at 9:55am

BPO Dispute.  BPO came in at 290 from a REO agent in our offices.  Buyers mortgage apprasial came in at $230 and Wells says they cannot use the buyer apprasial.  How can buyer get a mortgage on Wells value its not happening.  Any suggestions?

Comment by Laura Marshall on February 20, 2013 at 6:26am

FYI - Wells Fargo Loans - Former WAMU. I  just submitted a new short sale to Wells Fargo. It was a former WAMU loan. These are not processed through Equator. You need to fax all documents, including 3rd party authorization to 210-257-2736. The phone number for this short sale department is 877-371-9960.

Comment by Janine Margaret Nielsen on February 13, 2013 at 6:17am

Hi Kelli and Donte, are your files with Wells Fargo Home Mortgage?

Were they originally Wachovia or World Savings loans. I have a contact-email me at

[email protected]

Comment by Donte Tribble on February 13, 2013 at 4:59am

anyone have any contacts to "higher ups" at Wells ? having a little difficulty with a over valued BPO

Comment by Pattilynn Guilford on February 11, 2013 at 2:49am

"routine foreclosures" ? :(

Comment by Kevin - Greenville, SC on February 9, 2013 at 4:22pm

Foreclosure Sale Postponement
Servicing Guide, Part VIII, Section 107.01: Servicer-Initiated Temporary Suspension of Proceedings

https://www.fanniemae.com/content/announcement/svc1224.pdf

Comment by Vincent Donaldson on February 9, 2013 at 3:57pm

    I did indeed talk to Fannie and was told that, "as of November 28, 2012, servicer's not longer need investor approval to order a postponement of a sheriff sale.

    I got Wells on the line, then the reps boss as well and told them what I had been told. The reps boss said she would have to hear that in person herself as she had not heard of that new Fannie policy change.

    I asked if they could call as a conference and they both stayed on while the rep called Fannie at the number I gave them. When the Fannie rep came on, I explained what I had been told earlyer and that I had two Wells representatives on the call who needed to hear that personally. She said I would have to hang up as she could not talk in a conference situation so I hung up while they stayed on to get the November 28 policy change brief direct. I was told to call back in 20 or 30 to see what happened.

    When I called back, the sale had been recalled! I was told it would have to be approved by another department Monday but they had been informed the investor approval block was not longer there and so they simply ordered the recall!

    However when I called Monday, the department finalizing the recall had denied it instead. Monday evening I got Wells on the line with the seller for 35 minutes and went over the whole scenario again in detail from my notes. We were placed on hold for likely better than 15 minutes and when they finally came back on, the recall had again been issued.

    I was told the department it had been sent to was evidently also not familiar with the change and had mistakenly turned it down. It was now being sent to a different department for final approval. However since the sale was in the morning, we were told "we can not guarantee the sale will be recalled. We usually need at least 3 business days to conclude the recall process."

    The seller had also filed a recall petition with the court minutes before the Monday 5 PM court closing, so that was also in his hand when he went to court pro-se in the morning of Tuesday January 29th. The judge looked at all that and allowed the sale to proceed. The bank bought it back.

    Now we are trying for a stay or vacate at the confirmation hearing. But I am also thinking, could he not also request the sale be vacated or at least stayed due to the bank not being properly up on Fannie policies?

Comment by Deidre St. Romain on February 7, 2013 at 1:29pm

I have pretty good luck with Wells besides the usual delays, duplicate information, extensions, etc....my only problem is that when the transaction has closed I cannot get them to turn off the automatic "Is your short sale closing on time"...what is the date?..(on Equator) .and then after emailing them back on Equator that it is closed a couple of times then I get a "denial of short sale"...ARGH.  it seems they just can't turn off the "reminder"..

Comment by Linda Cadotte on February 7, 2013 at 12:49pm

Wells Fargo has been difficult to say the least.  They have Equator set up so that you cannot send them documents they have not specifically requested.  Therefore, when I uploaded an offer and had to email them the husband's power of attorney, they rejected all documents that were signed with power or attorney because they had not requested that document.  They also declined the financial information repeatedly because I did not provide pay stubs for the ex-wife in Japan who provided a statement that she did not have a job.  I really felt in the Twilight zone.   We are now hoping to close this month.  Ironically after all the Wells stress, the buyer (who wanted to close 1/15/13 now wants to delay closing because she will save on interest she has to bring to closing table.  We had foolishly signed an addendum stating closing would occur within 60 days of bank approval.  Never dawned on me buyer would delay after her loan approval.  Seller is due to leave for year in Bahrain, and buyer doesn't mind risking what may happen to closing if seller is gone and additional signatures are needed by him or x-wife. 
This one has been a bear throughout! 

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