Loan modification,collection,foreclosure

Posted on Posted in Mortgage

review

This is a short sale transaction. We originally submitted to Wells Fargo XX/XX/XXXX without an offer. FHA requires the seller pre-qualify for the program before offers will be considered. We made no progress with the process and finally received an offer and submitted a complete package, offer, updated financials etc on XX/XX/XXXX. The offer still would not be considered until seller qualified, but they still new we had an offer. We just kept plugging along trying to get seller pre-approval. On XXXX after being told when I called in several updates by WF that the file had already been sent to FHA for final review, I received the following email from WF Processor ( the notes in CAPS are my instruction to the seller : From : XXXXXXXXXXXX [ mailto : XXXXXXXXXXXX ] Sent : Wednesday, XX/XX/XXXX XXXXTo : XXXXXXXXXXXXSubject : RE : XXXX I was trying to see if I could move this file to audit but still missing the following : Bank statements – I have XXXX but we need XXXX can you have the borrower ‘s fax in the last XXXX consecutive months accounts ending in XXXX – LAST XXXX I HAVE FOR XXXX IS XXXX AND XXXX IS XXXX. I DO N’T WANT THEM TO COME BACK AND SAY TOO OLD IN TWO WEEKS! PLEASE SEND XXXX & XXXX FOR XXXX AND XXXX, XXXX & XXXX FOR XXXX Paystubs also we XXXX for each borrower – we were missing XXXX for each — fax the last XXXX consecutive paystubs for both – AGAIN ONES ON FILE ARE FROM XXXX AND XXXX. PLEASE SEND XXXX CONSECUTIVE CURRENT FOR BOTH OF YOUFinancial worksheet needs to be signed and dated ( attached is a blank one ) – SEE ATTACHED. THEY NEED ON THIS FORMAT SINCE THEY PULLED THE FILE TO BE WORKED OUTSIDE OF EQUATOR XXXXNo brokerage act letter signed and dated OR copy of brokerage ( 401K, annuity act, etc. ) – EITHER OF THESE OPTIONS, NEEDED FOR BOTH OF YOU.
Everything else looks okXXXX XXXXThe sellers are a mother and her son. Her son has little or no access to the internet so obtaining updated documents is very challenging. I finally received all the documents on XXXX and submitted them to WF via fax and email to XXXX. I then emailed her on XXXX asking if the file had been sent to FHA, with NO response. I emailed her again on the XXXX and then called the main line. The gentleman I spoke to confirmed receipt of the docs and said the file has been sent to FHA and we should have a seller approval/denial within 10 business days. I then call back on XXXX to check status and was told the file closed on XXXX due to there being no offer on the table and the looming foreclosure sale date!! WHAT???? WHY WAS I TOLD ON THE XXXX IT WENT TO FHA AND THERE IS AN OFFER ON THE TABLE AND CO HAS A DUAL TRACKING LAW NOT ALLOWING FC WHILE IN ACTIVE REVIEW AND THE COUNTY CURRENTLY SHOWS THE FC PENDING WITHDRAWAL!? I demanded to speak to a supervisor. After being put on hold the gentleman came back on to say he has scheduled an appointment for a manager to call me the next day. No one called on the XXXX so I called back. I was told the manager XXXX XXXX was being sent an urgent message and I told her to make sure he knows I intend to file a CFPB complaint if I did not hear from him by today XXXX. Well, guess what, NO CALL! THIS IS NOT ACCEPTABLE!!!!!!!! I have very detailed notes that I keep in my system that will show ALL of this!

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