Short Sale Superstars

Providing you with the knowledge and tools needed to succeed with Short Sales.

Wendy Rulnick

Wells Fargo Short Sales

Information

Wells Fargo Short Sales

Wells Fargo and ASC (America's Servicing Company) tips, tricks, references and experiences!

Members: 146
Latest Activity: 7 hours ago

Wells Fargo Short Sale Dept 1-866-903-1053
Short Sale FAX 1-866-969-0103
Letter of Authorization Fax 1-866-917-1877

Wells Fargo Line of Credit Division 866-961-6861
Third Party Authorization: 866-468-5958 (fax)
Fax: 866-834-7850

Email format Firstname.MiddleInitial.Lastname@wellsfargo.com
OR Firstname.Lastname@wellsfargo.com

Well Fargo list addendum.pdf
Wells Fargo Cont addendum.pdf
Arms Length Transaction Document .pdf
Closing date extension.pdf


Discussion Forum

Jeff Payne

Attention Short Sale Superstars! Thank You! 2 Replies

Started by Jeff Payne. Last reply by Bryant Tutas 7 hours ago.

Jeff Payne

Wells Fargo short sale closed 5 Replies

Started by Jeff Payne. Last reply by Jeff Payne 10 hours ago.

Guy Lofts CRS

REO Trans 9 Replies

Started by Guy Lofts CRS. Last reply by Kylee Roe 1 day ago.

Comment Wall

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Kent Dills Comment by Kent Dills on February 4, 2010 at 8:25pm
Patti, If you've brought in another buyer it could extend things by a couple of days. Normally, if you bring in an offer at better than the required net, you get an answer back within one business day (sometime within hours)!
Patti Berube Comment by Patti Berube on February 4, 2010 at 6:23pm
Hi - I'm doing my first WF short sale & I got a net number back from the negotiator quickly(just over 3 weeks). I also only had 3 days to get a counter back to her, and since my buyer backed out I luckily got another to come on board and get her MORE than her net...so how much longer do you think before I get my letter of lender consent?
Kent Dills Comment by Kent Dills on February 4, 2010 at 2:20pm
Pacita, next time you do a short with Wells Fargo (or any other lender) and you will be paying off the first, don't submit a short sale package to them. You only need to submit a short sale package on the loans that will be taking a discount. :-)
Pacita C Dimacali Comment by Pacita C Dimacali on February 4, 2010 at 1:42pm
Dealing with Wells Fargo could be confusing, too. If there are two loans (i.e., one is a home equity loan), there are two separate departments to deal with in terms of short sales.

Best that you call more than once to confirm where to send the package. The first time I called, I was told that one department will handle the short sale for both loans. NOT TRUE!

Sent the package to the number they gave me. Checked weekly for status. Finally had a negotiator assigned But she told me that the offer received was enough to pay off the first loan, so she closed the file with no action taken. Reminded her that we have a second loan and it won't be enough to pay that off, too. Was told to contact another number to negotiate. That second negotiator had more requirements that we need to provide.

Although a bit confusing in the beginning, I'm encouraged that at least I actually get through to a human being by phone and by email. Can't say the same about Bank of America.
Paula Barrett Comment by Paula Barrett on January 27, 2010 at 7:44pm
Does wells fargo have a list of items that need to be returned along with the 4 addendums
Sam Purtle Comment by Sam Purtle on January 26, 2010 at 7:24pm
Kris - it is always great to have all the loans with Wells Fargo. Your scenario is all too familiar. 1st thing is that the primary lender determines the amount they will allow to the junior lien holders. It would appear that perhaps you do not need to short the 1st. Order a payoff on the 1st and if it close to $200k then no short sale is needed with them. It all comes down to the Net amount offered to the lien holders. If the payoff is 200k and the settlement charges are 30k then you have 20k to work with. I would offer $2500 to the 3rd and the remainder to the 2nd.
Kris Lindahl Comment by Kris Lindahl on January 25, 2010 at 10:01pm
I have a wells Short sale with 1st, 2nd, and 3rd. Any tips would be helpful. The first is 200k, the 2nd is 100k, and the 3rd is 10k. We will have about 250 to spread between the 3. What is the best way to address the 2nd and 3rd? They are all Wells Fargo.
Ryan Diedrich Comment by Ryan Diedrich on January 18, 2010 at 2:56pm
If every bank did short sales like Wells Fargo, this country would have about 30% less foreclosures...if not more. They are quick and efficient!
Maya Thomas Comment by Maya Thomas on January 18, 2010 at 12:56am
I love Wells Fargo!
Terry L. Osburn Comment by Terry L. Osburn on January 13, 2010 at 8:39pm
It really depends on the negotiator and their skills. I have a double Wells going and the 2nd is and has been fabulous.
The first negotiator has been a little less than stellar.
 

Members (146)

Jeff Payne Wendy Rulnick Karla Leahy Tiffany Alleshouse Bryant Tutas Guy Lofts CRS Terri Wisecarver Petra Norris Pam Jank Kent Dills Kylee Roe Stephanie Lim Judy Chapman Mitchell Gilbert Tracy Hatchell Sally English Pam Graham Michelle Hass Dominique Van Ryckeghem Silvia Dukes David Dee Kathy Fuhriman Jeffrey Burnham Bob Hanley Mori Langshaw Sr Christina ONeal The Lovely Wife Bud Cooke Ginger Moore Karen Rishar
 
 

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Makoto Sato

My company says that I can't list REOs 6 Replies

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