What Are Your Five Favorite Lenders To Work Short Sales With?

Some lenders are horrible to work short sales with, some are excellent and approve them in a timely manor with GREAT terms!  We are doing a poll, what are YOUR top five lenders to work short sales with??  Rank them here 1-5!
***Voting is now CLOSED for 2010!  CLICK HERE to view the results for the Best and worse lenders to work short sales with - www.theshortsaleguide.com/forum/topics/poll-results-best-and-worse

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Hi Kay,
What's your secret with Wells Fargo? We find them hard to work with!
1) GMAC (answered offer in 2 days, closed with no hiccups in 30)
2) Citi
3) Chase
4) Carrington
5) Litton
US Bank
I am doing one with US Bank now and very slow, any advise on how to speed up the process. The 1st person told me 6 months and the second said 4-6 weeks, whats the secrete???

You better prepare your self for the worst, they takes months to respond, if they postponed the sale it is because it is not escalated yet, make sure your CMA is  close  to the purchase price offer you have, they will answer you close to the 3 month and maybe 30 days before sale and let you know the approval price. Be aware of having back up offer just in case!!

1) Wells Fargo
2) Principal
3) EMC
4) Saxon
I have the same question as the other person, what is the best way to approach a wells fargo short sale.
Have a complete short sale package the first time with ALL updated seller financial docs, and have all of their special addendums ready in advance. I have found wells fargo decent, but they don't even compare to Wells Fargo Financial.
Funny...I've not had one with Wells Fargo Financial. I've had great experiences with Wells...you're right, complete short sale package, all seller docs and the arms length transaction, short sale contract addendum, etc. All documents should be sent together. "Please" and" thank you" work wonders. All of my processors and negotiators have gone to email format and they seem to be answering their phones lately. Would take another Wells in a heartbeat!
The good thing about Wells Fargo Financial is that as soon as you list the property you can immediately send a short sale package to them, they'll do an as is appraisal, and within two weeks you'll have a pre approved list price to list the property at. To top that off, right now they pay a 6% commission AND are currently offering a $1,000 bonus to both the listing and selling agents!
I have a regular Wells Fargo deal that is "wells fargo owned" and they are paying a 7% commission if we can close it within 30 days of the approval letter date.

HAFA with Wells has not been a positive experience. They lost the file, documents went missing and then the negotiator left the department and didn't reassign the file. It just sat there in limbo for 3 weeks without anyone knowing where it was.
1.) Wells Fargo FINANCIAL (NOT Wells Fargo home Morgage or Wells Fargo Bank!!)
2.) Litton
3.) GMAC
4.) Wachovia
5.) Saxon

Can't believe I see US Bank on here! There are many smaller ones MUCH better than CITI and Chase in my opinion. I would likely put Wells Fargo Home Mortgage as 6th on my list.



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