Wells Fargo Home Mortgage (WFHM) Application, Forms And Packages
Wells Fargo Loan Modification
Wells Fargo Home Mortgage Loan Modification Package, Application and Forms
What is a WFHM Mortgage Loan Modification Package? Wells Fargo Home Mortgage (WFHM) has their own package called the Mortgage Assistance Application or MAAPP WOBP that is required to be filled out when seeking mortgage relief. This package is for their Loan Modification process and it begins the timeline. Now it’s not the same as what is often named at other lenders to as the RMA or Request for Mortgage Assistance but it does include the hardship information required built in. Application form packages change all the time so when you are looking for help with your Wells Fargo mortgage assistance you apply with the correcct paperwork. Prior to the use of any assistance application confirm you are using the right package with a professional or someone at your mortgage servicer. We at Absolute Consultant Group(ACG) upload the Mortgage Assistance Application on this website for educational purposes. Here at Absolute Consultant Group we work with homeowners and professionals with the Wells Fargo Home Mortgage (WFHM) Loan Modification process and we can help you too. There are 11 pages in the typical WFHM Loan Modification Package.
Need Assistance With A WFHM Morgage?
Need Assistance With A WFHM Morgage?
Page Wells Fargo Mortgage Assistance Application (MAAPP) Package Breakdown:
Mortgage Assistance Relief Application Check List
- Page 1 – About You On this page Wells Fargo really covers the basic information about the borrower and the co-borrower. It covers the contact information for each, their social security information, along with making sure to gather the mailing address for each.
- Page 2- About Your Property There is a disclosure that covers SCRA (Soldiers and Sailors Act) information but this page is really about Wells Fargo covering what they need to know about thelso property. The home attached to your mortgage loan needs to be qualified by various factors. They want to know your residence status and if it’s a rental modification you are applying for. Wells Fargo also has models they use based on the number of residents in the home to establish reasonable monthly budgets. Afso they need to know if your intent is to keep or sell the home. Lastly, they ask you what property it is you are asking for assistance with and if the insurance is up to date.
- Page 3- About Your Mortgage Loan It seems odd but this section the use to ask you questions that it seems like Wells Fargo would know like are your taxes escrowed or is your home insurance included with your payment. The one question they ask that they wouldn’t know is if you have a homeowners association or other types of dues.
- Page 4 – About Your Property Title This is where your Wells Fargo mortgage asks about additional liens and judgments. They cover if there are second mortgages and how to contact and of these lien holders.
- Page 5 – Listing Status and Employment Information Wells Fargo considers all mortgage solutions through their “One Decision” policy so they take into consideration whether you are actively markeing the property for sale, with whom you have the home listed and if you’ve received an offers. They also cover in a very simple way the employment history and whether either of the borrowers are currently unemployeed. No matter what the situation Wells Fargo Mortgage is always trying to establish when things started.
- Page 6 Financial Information (Income) WFHM Home Mortgage Loan Borrower Financial Information assistance package asks for your monthly budget. Wells Fargos wants to cover all the basics so they ask, for one, about your gross/net income. You need to inlude all sources of income including non-borrower contributors in the budget. You must also inform them of any assets that you have. This includes but is not limited to, bank checking accounts, and anything else you have of value.
- Page 7 – Financial Information (Expenses) In this area you have to make sure you cover everything that is part of your monthly expenses spanning from food to utilities to child costs.
- Page 8 – Hardship Affidavit Wells Fargo Home Mortgage always looks for the reason you are defaulting. They look to see that issue has been resolved because otherwise they won’t be able to set you up on a sustainable plan and reach affordability. This section covers somewhat what a hardship letter covers such as the date the hardship occured and additional details surrounding the situation.
- Page 9 – Wells Fargo Hardship Affidavit Continued This page is a series of boxes that cover different types of hardship so you only have to fill out what applies to you.
- Page 10 – Assistance To Date Wells Fargo like most lenders must assure they did everything they could to help mitigate losses so they ask you if you’ve previously received assistance, whether or not you filed bankruptcy and if you’ve been speaking to credit counseling agencies what their name and number is.
- Page 11 – Government Use This last section doesn’t really require the borrower to do too much but to fill out some basic census type information.
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Understanding Your Wells Fargo Home Mortgage (WFHM) Loan Modification Status
The Wells Fargo Mortgage Assistance Application along with all the supporting information with Loan Modification Package can be dozens of pages to hundreds of pages. Wells Fargo Mortgages aren’t a walk in the park to receive assistance. ACG is your one stop shop for making it through the mortgage help process to get home loan relief from your loan servier. Your WFHM Loan servicing division has various locations, the company though is headquartered in in Des Moines, Iowa.
Wells Fargo Short Sale Package Forms
In most cases Wells Fargo Mortgage Loans use the “Mortgage Assistance Application” forms for loan modification proccess as for the Wells Fargo Short Sale. Beyond just the typical borrower support documentation a short sale with a mortgage requires documentation corresponding with the sale of the hoe such as the residential sales contract and a HUD or closing disclosure which lets Wells Fargo Home Mortgage and the beneficiary being represented by them to acknowledge the amount they will receive from the offer being made by the short sale buyer. This is sensitive process that not just any real estate professional can handle. No one in the business handles the short sale negotiation like us. While it’s a careful balanace of dealing with Wells Fargo mortgage home loan department or juggling the real estate professionals it takes a learned set of skills that only comes from dealing with as many short sales we have. For over a decade we have specialized in this area and represent many of the largest brokers/agents in the business.
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