My clients sent in the Approval to Participate form with our first offer on their home. Apparently it got lost in the mail because WF says they never received it. So they closed out the file and we lost the first offer. Now we have a second one...have sent in all the updated paystubs etc...but they still need the approval to participate or ATP form. I have been in contact with probably every member of the liquidation team and the file has been escalated twice to get a hold of a copy of the ATP for my clients to sign so WF will evaluate the current offer (which they already have a copy of but will not review with out this form). Any ideas on who else to try to talk to?? I spoke with a liquidation team leader today...only because I wouldn't get off the phone before I spoke with a manager or supervisor. They keep promising me that it is escalated, so and so and that person's manager have been emailed...call back in 24-48 hours. It has been almost 4 weeks of this!! HELP!!
Send an authorization to HUD and talk to them. They seem to actually read the email that you send the ATR in, so include why you want them to help. firstname.lastname@example.org
Thanks for the advice Joe! I came across their contact number in one of the other discussions and had thought of calling them for help on the file. I hesitated because I am worried that someone at WF would sabotage the offer. I know it sounds crazy but who knows??
Your sentiments are well understood but overwhelmingly misplaced. I have found that we are dealing with competent overworked people, mediocre barely awake w/coffee people or increasingly zombies barely capable of finding the way into the office except to grab a paycheck. The overworked and usually the mediocre will at least get back to you so you know that they are alive and have some explanation for their delays, etc. They don't have time or interest in doing you in. The remainder seriously need 40k volts to the seat to keep them on task. My last "incredible" encounter was someone not responding for weeks as I continually escalated and true to form for the zombies, she asked for documents that she had for months and weeks instead of responding with what the heck she has been doing all this time. You will find the same. You will be frustrated and amazed that a bank can employ such non-working arrogant obtuse people - until you finally realize that this is the way big servicers "work". You will also see that you can do no more damage to your client than you have by wasting time with 10 gentle requests for some shred of update information. The zombies do a ton of damage, but this is their nature regardless of what you do. Don't worry about hurting their feelings, they have none and you can't get back the lost time and lost clients that they create by not doing their jobs. I think we all go through it - afraid to annoy and overstep. However, the servicer systems are so slow and bureaucratic that I defy you to define sabotage vs. their normal operation. Who needs a month to see that a signature is on the ATP? Yes, seriously. But you better have it in to them in 3 calendar days.
Overt "sabotage" is also outside the lines of normal slovenly servicer motion. Evidence is something that banks do not like. I have run into cantankerous negotiators, etc. over the years and 1 time it was the whole group of team lead, manager (who actually claimed he was not the manager) and negotiator. These people create enough trouble for the servicer that they disappear w/in months, so I've found.
Worry about being too sensitive to perceived zombie feelings, they hurt your client and actually hurt the servicer.
When you talk with someone in escalations, point out each issue and ask what they think. Much less so than in the past, you will get someone who will keep saying you are wrong. When they tell you that "it seems like a long time", etc., you know you have hit a nerve and are correct - even their system thinks something is fishy. I also ask for their advice. Rarely do I get "just wait a while". Sometimes they will push for more than I would.
Finally, unlike the federal trough swillers who don't care about their now clients the taxpayers or the homeowners, HUD does take action. They do occasionally use both feet on the neck of a servicer. HUD made BofA take back some FHA loans that they screwed up last year - not a paper tiger, although some of the people there certainly are. WF and (less) BofA do not want a call from HUD and they will respond in the right direction. (HUD actually transfers you to some phone group at BofA, so don't be surprised if you sometimes get garbage conversations with them. Call in to HUD again and complain about it.)
So, is that too much?
Hi Michelle - I understand your frustration. One of my agents is currently working a WF Short Sale and it has been a nightmare. Approval letter was issued, buyer and seller closed and instead of approving the final HUD (which matched the approval letter to the letter) - agent received a response, "File has been pulled from short sale processing because the file does not meet WF Quality Standard"? WHAT???? After days of digging - agent was finally told that WF did not have the Arms Length Affidavit - WF had requested the Affidavit prior to issuing the approval letter! ALL monies had to be returned and the agent has had to start over with a NEW offer! WF is where BofA was 4 years ago! The agent has hit one brick wall after another - different story every time she calls in. She has been working this BRICK WALL file since November! She has escalated to Supv., team leaders AND emailed top management - with NO results. We totally feel your pain!!!! #WELLS FARGO#FAIL