Replies to This Discussion

Permalink Reply by Emmanuel (Mannie) Makhathini on September 21, 2011 at 2:11pm

If the loan is FHA it does not go through equator. i just lost three weeks on a deal with Wells Fargo. I represent the buyer. The sellers agent faxed the short sale package to wells fargo three weeks later they had not gotten the package and they told him to intiate the short sale through equator. Come to find out he did not even know that Wells Fargo was on equator. I have had better luck using equator and you should be using the fast track that they implemented for Wachovia.

Permalink Reply by Sharon Molnar on September 21, 2011 at 2:37pm

My deals have been HAFA. Faxing.  I believe it depends on the type of loan your dealing with. Personally, if I can I fax or email. But, if I have to use equator, I do.

Permalink Reply by Cindy Billman, CDPE, SFR on September 21, 2011 at 2:54pm

According to WF, faxing is better - it will usually take them 24 to 48 hrs to upload the fax into their system. After I have faxed the docs I will follow up with a phone call in 48 hours to make sure they have received all docs, once they verify this, it will usually be another 3 to 5 days before a negotiator is assigned. Once I have received an email from the negotiator then any docs can be sent to this negotiator by email. However, I will also fax the info as well because I was told that anything that is emailed will not show up in their system. And I did have this happen - I sent the updated docs by email and the file was closed because,supposedly the negotiator did not receive it. I had to start all over again and a new negotiator has been assigned. So now, I will email and fax and then call in 2 days to make sure there are no missing docs.  It is a shame that with today's technology that we are still having to fax and then follow up with a phone call!

Permalink Reply by Lonnie Workman on September 21, 2011 at 3:24pm

Is the fast track automatic?  I sent in two on the same day. One was scheduled for the BPO 2 days after I sent in the documents...they also called one week later and gave the seller the sales price they will approve... The other one....no action yet! 

Permalink Reply by Cindy Billman, CDPE, SFR on September 21, 2011 at 3:45pm

It all depends on who your negotiator is - the more experienced ones are on the ball, the the "newbies", well, good luck - I had to escalate mine to a manager.

Permalink Reply by Kevin - Greenville, SC on December 3, 2011 at 5:50pm

FAX!