1-312-500-8099 [email protected]

Wells Fargo Short Sale, Department, Package

Wells Fargo Short Sale is a way out to abandon your property and get relief from all the mortgage debts it carries. It is better than foreclosure as it inflicts less damage on your credit report, which is necessary to keep your option open for obtaining a mortgage loan in future. However, you should consider the option of a short sale only after you fail to qualify for a loan modification or any other home retention program offered by Wells Fargo Home Mortgage.

The process starts with your calling to a specialist representative of the department and explaining the financial situation and hardship you are facing at present. The short sale department will review your request and check whether or not you qualify for the program. The bank offers a complete short sale package that can be completed and sent online as well as via mail. Upon approval the WFHM negotiator will talk to you or your agent to determine an acceptable sales price and the timeline within which you are required to list and sell your home.

Wells Fargo Short Sale Package

Wells Fargo Short Sale Package contains different kinds of forms, financial worksheets, guidelines and documentation checklist among many other things. You need to complete all forms and procure all required documents and sent the same in a packet via mail, fax or online. The package should also contain completed authorization form and a hardship letter.

Sometimes you may also require an addendum, such as Arms Length Affidavit, Contract Addendum, Listing Addendum and Contract Extension Addendum. Wells Fargo short sale approval time is typically 37 business days. There is also a fast track program for Wachovia customers. Once you receive the approval letter you are given 30 days, in most cases, to sell off your home. If you fail to do so within this timeline period you will have to restart the complete process once again.

Wells Fargo Short Sale Department

Contact the loss mitigation department at 1-800-678-7986 right at the moment you start facing payment problems. If the possible solution happens to be a short sale you need to get approval from Wells Fargo Short Sale Department. Information pertaining to program policy, rules, procedure, deficiency judgment, promissory note, escalation or any other requirements can also be had from here. The same phone number can be used to access this department. Another phone number that you can use is (866) 903-1053. The fax number to send package is (866) 359-1975. Here is the mailing address for the department.

P.O. Box 10368
Des Moines, IA 50306-0368

For more and updated information visit the website of Wells Fargo Home Mortgage.

US Bank REO Department, US Bank REO Properties

US Bank REO refers to Real Estate Owned, or simply real estate for sale. These are properties that came under the possession of the bank either through a foreclosure auction or through the process of a deed in lieu of foreclosure. So these are also referred to as foreclosed properties or bank owned homes. These properties are indeed a liability on the bank as it has to hire asset managers, qualified real estate agents and brokers to maintain them as well as to sell them as quickly as possible. A separate division known as US Bank REO Department exists to maintain a nationwide network of real estate agents, brokers, asset managers and vendors.

US Bank REO Department

US Bank REO Department works behind the scene and we do not have enough information to contact it directly. However, we can access the listings of properties maintained by it and made available on the official website of the bank. A buyer interested in a property is supposed to contact the realtor listed against the property and not the department. In fact, the department plays no role in the sale process and the contact person for all your purchase requirements at all times remains the real estate agent dealing the property. Nevertheless, if you need financial support or mortgage loans in buying a US Bank REO property, you can talk to a bank representative by using the home mortgage customer service phone number, which is 800-365-8544.

US Bank REO Properties

US Bank REO Properties or Real Estate for Sale can be seen on the website of the bank. You can find the statewide listings of foreclosed homes for all states of the country. Select the state and view the list of properties available for sale. Get specification details, property location and also find the contact details of the broker dealing the property. Talk to the agent and fix a date to inspect the property and negotiate further. It is better to have a buyer’s agent by your side to strike the best deal at the negotiation table.

US Bank REO Asset Manager

US Bank usually gets the services of professional asset managers for its residential properties. For commercial real estate, on the other hand, it has an independent company known as US Bancorp Asset Management, Inc. The company has specialization in providing portfolio management services for commercial properties to a wide group of corporate consumers. These may include non-profit organizations, large corporations, public entities and many other institutions. The private asset managers and vendors that the bank hires provide their professional expertise and business acumen for residential properties only.

US Bank Short Sale

US Bank Short Sale may be an option to prevent an impending foreclosure. However, you will have to lose your home and with that all equity that you have built so far in it. A short sale is painful as you can no longer enjoy the comfort of your own home, but at the same time it is less damaging than a foreclosure. So if nothing helps to save your homeownership, you might like to consider this option and pay off all your outstanding debt on the property.

US Bank short sale is not possible unless you owe more than what your home’s current value is. The amount that you still owe after paying from the proceeds of a short sale is often discounted by the lender. Sometimes, the lender may choose to pursue for this little amount known as deficiency depending upon the law of the state where your property is located. Talk to the short sale department of the bank to find whether you would be pursued for deficiency in future.

US Bank Short Sale Department

US Bank Short Sale Department is accessible via Default Resolution Department of the bank. The phone number to contact this department is 866-932-0462. There also exists a Default Counseling Department that helps homeowners with possible options under various home retention and home liquidation programs. You can talk to a representative of this team and find an option that can work best in your situation. Call 800-365-7900 to explore you options. If however the solution happens to be a short sale, you will have to apply accordingly and get the approval of the lender in order to start the process.

US Bank Short Sale Process

US Bank short sale process involves all steps that are common with a typical short sale process at any other bank. First you need to obtain a package containing all necessary forms, documents, guidelines, a documentation checklist and other requirements. You need to complete all the forms and procure the documents asked for. Then put all these in a packet and send the same to the address provided in the package you have been supplied.

The short sale package can be downloaded from the bank’s official website in PDF format or you can talk to your realtor to get the same for you. The bank will designate a mortgage specialist to review your documents and ascertain your eligibility for the program. After all these steps, you may be issued an approval letter apprising you of a price quote and the time frame to sell your home to an interested party not known to you.

For more on US Bank short sale, visit the website of the bank.

US Bank Wholesale, US Bank Correspondent Lending

US Bank has specialization in wholesale banking, with an independent division dealing all its aspects at global level. The consumer finance division is however maintaining a separate section catering to the requirements of wholesale lending brokers and bankers spread across the nation. Known as Wholesale Lending Division, it also has a section that caters to the requirements of correspondents. This section is commonly referred to as the Correspondent Lending Division.

US Bank Wholesale Rates

One can apply to become a wholesale broker or banker or a correspondent and get exclusive access to cutting-edge product information, wholesale rates and other resources available on its website. Only the registered users are provided with login information to open account and avail exclusive services.

If you are mortgage broker at US Bank, you may access wholesale rates, but for that you need to provide username and password in order to complete the rate information login requirements. Apart from having a quick and easy access to US Bank wholesale rates the brokers are also provided with an array of business solutions, tools and resources. To become a wholesale broker, one needs to contact a local Account Executive.

US Bank Correspondent Lending

The process to become a correspondent at US Bank starts with your sending a completed application. The application forms must be accompanied by the required documents. These forms and other necessary guidelines are available online in a PDF package for downloading.

There are two application packages – Financial Institution Application Package and Mortgage Banker Application Package. You can download a relevant application package, complete the forms, attach the required documents along with the application and the send the same to the address given in the package. For more information, you can contact a National Account Executive or dial the phone number 800-237-8463.

US Bank Mortgage Broker

There are over 10,000 US Bank Mortgage Brokers spread across the nation. These brokers are provided with non-agency portfolio mortgage solutions and a dedicated service and support system. One can call the Underwriting help line at 866-807-6049 to get immediate solutions to underwriting queries and other questions related to a mortgage product.

For information regarding application status, pricing, registration and closing costs, a broker can approach the help desk by calling 800-200-5881 (option # 1) or 800-874-7988. The product line available at US Bank include FHLMC Fixed Rate Conforming, FHA/VA programs, Second Mortgage, Jumbo Fixed Rate, FNMA DU Refi Plus Streamline and FHLMC HASP Streamline, among many others.

For more visit US Bank Home Mortgage Wholesale website.

US Bank Loan Modification, US Bank Home Mortgage Modification

US Bank Loan Modification options can be suitable if you can afford your regular monthly payment, but there is no extra funds left at the end of the month to pay past dues. The program, also known as Hardship loan modification, aims at changing the interest rates or loan terms in a way that makes your payment more affordable.

But you need to qualify for it and only after approval you may be able to pay according to the new schedule. Meanwhile, you must continue to make your regular payments and follow all relevant guidelines as mentioned in the loan modification package supplied to you.

US Bank Loan Modification Programs

Loan Modification is just one among the several options that the bank provides under its home retention programs. A mortgage modification is obviously the best and certainly the most popular one, because the changes made to your loan agreement are for the life of the loan.

You may even qualify for federal government’s Making Home Affordable Modification Program if you live in a owner-occupied home and your debt on the property is less than or equal to $729,750. Moreover, your loan must be serviced by US Bank and you have a valid reason that convincingly explains your hardship.
When you contact the Default Resolution Team of the bank at 866-932-0462, they will first determine if your application is eligible for HAMP before suggesting you other home retention programs. The other home retention and home liquidation programs may include the following:

  • Repayment Plan
  • Partial Claim
  • Short Sale
  • Deed in Lieu of Foreclosure

US Bank Loan Modification Department

The Loan Modification Department of the bank, which is an extension of the Loss Mitigation Department, is where you need to address your payment problems. Counseling services are provided for free to homeowners with delinquent payments through the Default Counseling Team. The phone number to contact a representative of this team is 800-365-7900.

Taking a cue from what they suggest, you can plan your next moves and obtain the complete loan modification package and all necessary forms either from the bank or from a government-approved agency. For consideration of loan modification option, the Default Resolution Team of the bank will look into your matter. The phone number to contact this dept is 866-932-0462.

For more US Bank home mortgage help and other repayment options, browse our website, mortgageaspect.com or visit the official website of the bank.

GMAC Mortgage Insurance

GMAC Mortgage InsuranceGMAC Mortgage Insurance may refer to any to the three kinds of insurance, which are PMI, Homeowners and Title Insurance. PMI or Private Mortgage Insurance is not required for all borrowers, but for those who are putting down less than percent of the price of the property at the time of closing.

This is in order to safeguard the investment of the lender in case the borrower defaults on payments. The premium is paid by the homeowner, which is usually held in an escrow account. It is possible for the homeowners to dispense with a PMI requirement after they have built percent equity in their homes or their properties increase in value.

Title insurance, on the other hand, protects the homeowners and lenders in case a title dispute arises in future. The amount to be insured under this policy should cover the whole of the building structure and adjoining premises. While the premium liability is borne by the borrowers alone, the loss payee nominee should also include the name of the lender in a separate clause known as GMAC mortgagee clause.

The third type known as homeowners or hazard insurance is necessary to provide complete coverage against natural disaster and fire. The policy can also be extended to provide protection to the contents of the house. In areas where floods, earthquakes or other similar phenomenon is a common sight, a separate homeowner’s insurance policy is required to provide adequate coverage to the house and its contents.

GMAC Mortgage Insurance Department

Also known as GMAC Mortgage Insurance Claims Department, it is where you need to send your claim checks for endorsement and further processing. In addition to this department, there also exists GMAC Insurance, which is a separate company that offers life insurance and other products. If you are a mortgage customer, you can get more information about mortgage insurance services by calling the phone number 1-877-509-4622.

Here is the mailing address for GMAC Mortgage Insurance Department or Claims Center. You can send mails regarding issues pertaining to insurance claims and check endorsement to this address.

GMAC Mortgage Insurance Claims Department
GMAC Mortgage
3451 Hammond Avenue
Waterloo, IA 50702

There is yet another mailing address that can be used to send back mails containing insurance renewal notice sent by GMAC despite your payments being maintained by an escrow account held by the bank. With all communications with this center, you must mention your account number written on the bill.

GMAC Mortgage Corporation
P.O. Box 57003
Irvine, CA 92619

Fax Number: 949-770-7683

GMAC Mortgage Customer Service

GMAC Mortgage Customer Service is just one phone call away for anything you may require – from loan product information to issues involving the servicing of a mortgage product. GMAC is an acronym for General Motors Acceptance Corporation, which came into existence in 1919. However, the company got a name change in 2010 and it came to be known as Ally Financial. Despite the change in name of the bank-holding company headquartered in Detroit, Michigan, its home mortgage division, GMAC Mortgage LLC, continues to be known by its original name even now.

The corporate headquarters of the GMAC Mortgage LLC is located in Fort Washington, PA, but it also has a loan servicing center in Waterloo, IA. As one of the biggest loan servicers in the country, GMAC mortgage loan servicing center handles a large number of queries each day from different parts of the nation. We will be providing you the complete addresses and phone numbers to contact these operating centers of the company.

GMAC Mortgage Customer Service Phone Number

GMAC mortgage customer service is accessible through phone, fax, email and ordinary mail. The most used phone number is an automated service which is available 24 hours a day for new as well as existing customers. This number is 1-800-766-4622. The other contact number is 1-877-941-4622, which is generally used for making enquiries on new loan products. There also exists a special phone line for the hearing-impaired, which is 1-800-335-9228. The fax number to reach GMAC mortgage customer care is 1-866-709-4744. One can also send email but it can be done only through a secured network, which is available at https://www.gmacmortgage.com/custserv.do?method=fminit.

GMAC Mortgage Customer Service Address

The mailing address to send your post containing general enquiries is as follows:
GMAC Mortgage
Attn: Customer Service
P.O. Box 4622
Waterloo, IA 50704-4622
A qualified written request should be sent to the following address:

Attn: Customer Care
P.O. Box 1330
Waterloo, IA 50704-1330

The corporate headquarters has the following address:

1100 Virginia Drive
Fort Washington, PA 19034
Phone Number: (215) 734-8899

The mail to GMAC Mortgage Loan Servicing Center can be sent to the following address:

3451 Hammond Avenue
Waterloo, IA 50702
Phone Number: (319) 236-5400

Chase REO Properties, JP Morgan Chase REO Department

Chase REO refers to the properties owned by bank for the sake of selling them to potential buyers at fair market value. There is a separate department that maintains an inventory of foreclosed homes and the houses it has acquired through a deed-in-lieu of foreclosure process.

It also has an asset management division that hires companies of national repute to keep these bank owned properties in good condition until they are sold with the help of local real estate agents. Buyers can visit the Chase Properties website to see updated listings of properties for sale and the contact details of agents and brokers dealing these.

Chase REO Properties

JP Morgan Chase bank offers online listings of properties on its web portal, but full access to these are limited to registered users. You can create a profile if you are interested in buying a Chase REO home and get the list of all available REO properties owned by the bank in your state, be it Michigan or California.
You can perform search in any way you like and it is also possible to save your search criteria or the results you have generated using it. Moreover, you can choose to receive email alerts when a new property matching your preferences is included in the inventory and becomes available for sale.

Note that Chase bank is not involved in the selling process directly and it does not receive offers for sale either. For that, you need to contact the real estate agents responsible for their sale. The details of the properties listed online also contain the contact details of these agents.

Offers for sale should be made through these only either by yourself or by your designated realtors. It is possible to avail financing solutions on certain kinds of properties. Moreover, JP Morgan Chase offers discount or donation to community groups under a special neighborhood program known as Chase REO Community Revitalization Program.

Chase REO Department

Chase REO Department ensures that the titles of the houses to be classified as REO properties for sale have been transferred to the bank. The department also handles queries regarding the inclusion or omission of a property in the list. But to get more information about the real estate you want to buy the best person to answer your questions is the real estate agent responsible for its sale.

These agents are not employed by the bank directly but by one of the several asset management companies or outsourcers that it has roped in. One can obtain contact information for these bank associates by sending an email to [email protected] Vendor or agent application forms should be directed to any of these firms and not to Chase Bank. For more information call the following phone number.

Chase REO Department Phone Number: 1-877-584-3290

Bank of America Mortgage Rates

Mortgage Rates

Mortgage Calculator

Bank of America

Chase Bank

Wells Fargo

Bank of America » Mortgage RatesBank of America Mortgage RatesBank of America Mortgage Rates offer competitive advantages as they are still below the national average for most types of home loans. According to a source, the BofA rate for 30 year fixed loan remained 4.375 percent by the end of the year as compared to the national average of 4.78 percent. The same for 15 year fixed mortgage stood at 3.75 percent, several points below than the corresponding national average of 4.19 percent. The bank is expected to maintain the low interest rates in 2011 in order to attract homebuyers with reduced salaries and unsteady financial conditions. BAC offers mortgage and refinancing solutions through its subsidiary Bank of America Home Loans, earlier known as Countrywide Home Loans.

Bank of America Mortgage Rates Today

To see today’s Bank of America mortgage rates you need to supply information regarding the location and the type and amount of loan you are interested in. Here is a sample of what you see when you select Los Angeles, California as location and $100,000 as the loan amount for a home purchase.
Home Loan Products Interest Rate Points APR Monthly Payment 30-Year Fixed 15-Year

Fixed 25-Year

ARM 5-Year ARM (Interest Only)

30-Year Fixed (Interest Only)

The rates shown above assume that the borrower has good credit standing and possess an escrow account to make payments for taxes and insurance. Also note that the current mortgage rates for locations in Florida, NY, VA, Texas, NC, Maryland, CT, Colorado, and any other US States may be different for home purchase as well as for refinancing. Jumbo loans usually have an interest rate that is higher than the conforming loans.

Bank of America Mortgage Rate Reduction

Bank of America offers step-by-step guide to choosing a loan program depending upon the budget of the homebuyer. To start with, you can use an online mortgage calculator to see if buying is right for you and if yes then how much you can afford. For home purchase there exist a rate calculator that allows you to view the interest rates applicable in your state by providing purchase price and down payment details.

There are other factors that play important roles in determining the cost of the loan. Chief among them are closing costs, lender fees, taxes and insurance. You can buy points to reduce rates but remember buying more points will increase your down payment requirements. B of A also offers mortgage loans with no points. The resources like rate history, trends and today’s chart will help you decide appropriately.

Moreover, you can talk to a loan officer at 1.888.866.6702 to get assistance in choosing a loan product or call the phone number 1.800.586.9861 to obtain BofA mortgage rates today. Once you find what you are looking for call 1.800.799.2841 to lock in your rates till the time of closing.

Those existing customers having difficulty in making payments can seek a modification of loan terms through programs like Bank of America Mortgage Rate Reduction Program or if eligible can go for a refinance loan at a lower rate. The BOA mortgage rate sheet is accessible online to registered wholesale lenders and mortgage brokers who can call 1.888.475.7050 for more information.

Website: www.bankofamerica.com

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