Good News From Wells Fargo for Short Sale Processing.

We have received some good news from Wells Fargo with regards to short sale processing. They will be simplfying the qualification process for Temecula and Murrieta Homeowners who need to sell their home via a short sale.

Your Voices have been heard.

Wells Fargo to roll out new Equator Low Doc Process

Effective 2-15-13, for all loan portfolios except FHA, agents will no longer be receiving the following tasks within Equator

• ·         Hardship Reasons
• ·         Financial Information

Equator has removed these tasks in order to provide agents a better experience when navigating through Equator and to provide agents a quicker response and decision timeframe for their short sale.

On 2-15-13 Agents will receive the following task instead:

• ·         Upload Required Documents

Prior to agents receiving this task, Wells Fargo will review the file in order to request only the documents needed to review that specific file.   This avoids agents from having to upload blank or search for and upload potentially unnecessary documents.

What does this mean for you as a homeowner?

If we don’t need a document, we won’t ask for it, and you won’t have to find it.    This will allow your file to move quicker through our processing pipeline and get an approval even faster!

Wells Fargo has already been one of the best lenders for my team to work with as we have received a short sale approval within 22 days from teh time the offer to purchase was submitted for review.

For questions about Short Sales, please contact me at 951-506-5744 or send me an email.