Replies to This Discussion

Permalink Reply by Gael Adair Grove, CDPE/SFR/ePro on August 29, 2011 at 2:30pm

on the paystub issue, do they collect unemployment? if so, upload the check receipt and /or the unemployment letter. if not, have the seller write and sign and date a letter that simply states they are not currently employed and upload THAT in place of the payck stub.

 

not clear what your question is on bank statements and/or tax returns.

Permalink Reply by Petra Norris on August 29, 2011 at 2:42pm

Gael - there is no unemployment compensation for one of the borrowers, in fact there is no compensation whatsoever for the borrower.  With regard to the bank statements - the bank statements are in both of their names, no separate bank accounts.  The tax returns are filed jointly, so no separate tax returns.  Wells Fargo's tasks are assigned for each borrower.

Permalink Reply by Bryant Tutas on August 29, 2011 at 11:50pm

Petra. You simply have the borrower write a letter of explanation and upload that instead of pay stubs. If you umust upload bank statements and tax returns for both borrowers and they are the same then upload the same docs twice.

Permalink Reply by Petra Norris on August 30, 2011 at 12:04am

Thanks Bryant for the tip :)

Permalink Reply by Kathleen Sheridan on August 31, 2011 at 2:10am

Petra,

I uploaded the same tax return and bank statements for both.  The financial worksheet presents the same issue for a household with 2 sellers and joint bank and credit card accounts. You have to put a number in each line for each seller. Sometimes I divided the amount between the two; sometimes I put all of the expenses in one column and '0' in the other. It drove me crazy, but they accepted what I sent them, and moved on to counter the offer. 

 

HATE: Deciding how to upload the docs is the least of the problems that I have had with Wells on Equator. The messages sent through Equator are computer generated. The emails don't get forwarded to my email. I have to sign in the Equator daily to look for messages.  Equator sends messages before the response date saying that my responses are past due. The negotiators do not respond to emails from me sent through Equator. Maybe they don't get them in their email boxes either??? The negotiators don't respond to phone requests from me sent through their customer service. The counter offer is in 'take it or go away' format. There is no place to add essential information that doesn't fit into their Equator format. There is a message that says DO NOT upload information that is not requested. 

 

LOVE: Equator transformed the short sale processing for BofA in a good way. So, maybe there is hope for Wells. But, I'm not feelin' the love yet.

Permalink Reply by Petra Norris on August 31, 2011 at 3:31pm

Thanks Kathleen for the tip.  I have uploaded the same statements for each borrower.  So far so good, emails have been forwarded to my email inbox but I do regularly check Equator anyways. So far so good, keep my fingers crossed.