Wise up Wells Fargo and stop waisting money

Well we are reading how on April 5, when they enact the (HAFA Home Affordable Foreclosure Alternative program) there is going to be a big change in the way Short sales are done, well I guess the big banks have not been told the new rules yet or maybe they just don't care. This new program is only 3 days away and they are still using their broken system.

I called Well Fargo yesterday to check on a new buyer I had just sent them on a file they have had for about 3 months now, just to see if they had received the offer, at the same time I informed them that the old buyer had backed out and that the new buyers price was about the same so all the Negotiator had to do was change out the buyer, but no, that would be to easy, their policy is to close out every file when a buyer walks even if you give them a new buyer right then. Well they closed my file and sent it back to the big pile to be reassigned, the kicker in it all is now I am told that I have to send in the whole packet again because when a file is closed that is their policy.  Mind you the file was open when the new buyer was sent to them, so they had all the required paper work in their system already and it was all up to date.

Another big waist of money and time is when they are paying people to review these files over and over again, and also when they order another appraisal. I have talked the their appraisal company and they love the business.

I have done short sales with Bank of America where they have ordered 4 appraisals on one home at 400.00 a pop. (x 20,000+ different files) boy think of the money that could be saved if just this part was changed and they were limited to 1 or 2. Also what a difference it would make if this wasted money would be spent on hiring more people so the process could be speeded up.

I will add here that negotiators at Bank of America have 30 days after they receive a file before they even have to open it. They say the reason is because they have so many files, who cares, hire more people.

Bank of America has always used this stupid system which makes completion of a short sale such a long process, I guess instead of coming up with a workable solution, Wells Fargo decided to go with a system that is so broken that no new program will ever make it right. And more people will lose their homes.

Maybe if they just fire everyone that writes their rules and start over fresh maybe someone smart may come on board. 

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