Foreclosure Attorney Procedures Manual – internal use only
Page 3
This is intended only for privileged confidential use
Liaison Responsibilities (WFHM)
• Obtain Investor approval for over-allowable expenses
• Monitor workflow and performance of attorney
• Address any compliance findings
• Assist with escalated issues
• Attend monthly Attorney Call
• To determine beneficiary vesting information access Investor Matrix or RFC Matrix at
http://servicing.wfhm.homestead.wellsfargo.com/foreclosure/links.asp.
Foreclosure Special Teams Responsibilities (WFHM)
• Prepare all reinstatement figures on exception loans where figures cannot be ordered through
VendorScape or Desktop
• Prepare all payoff figures on exception loans where figures cannot be ordered through VendorScape
or Desktop
• Provide monthly updates to Investor/Insurers (DIMA)
• Provide bidding Instructions (except on FHA and FHLMC Designated loans-attorney
responsibility)
• Conventional Loans – provide Private Investors with sales results within 24 hours of sale – various
forms utilized – (DIMA)
• FNMA/FHLMC – provide sales results through Midanet/HSSN. Ensure accuracy of all stops and
coding and route completed foreclosures to REO/Claims
• Completion of 1099(a)
• Cash application and processing
• Document preparation and execution – provide attorney with any necessary documents and execute
any necessary documents, such as affidavits, etc. (See Executables
)
• Review of report of loans in which 1
st
Legal is approaching or past timeframes and contact attorney for
status. (See First Legal Action)
Attorney Responsibilities
• Manage all loans during the foreclosure action to protect Wells Fargo's best interest and alert Wells
Fargo's management of any potential risk.
• Ensure foreclosures are completed within investor and state guidelines.
• Management of a foreclosure file, either paper or electronic. Retained complete file for audit purposes
for a period of 8 years or state requirement. Involves management of electronic file of all documents,
which would require imaging, or a paper file. WFHM will notify the attorney when to destroy any audit
file. No attorney will destroy a file without approval from WFHM default Compliance area.
• Review for any differences in the property and mailing addresses for the mortgagor and send all
notices to both addresses if required by your state guidelines.
• Confirm the borrower’s military status by review of the Department of Defense website. Notify Wells
Fargo of all SCRA Soldiers & Sailors protected loans via the SMCRA@wellsfargo.com
.
• Send Demand Letter at an agreed price. (See Referrals/ Demand Letters)
• Determine 1st Legal deadline and ensure that the deadline is met as defined by the state-level matrix.
This is for FHA files only. (See First Legal Action)
• Review all documents, including Vendor Instructions, provided in VendorScape or Desktop.
• Obtain Title Report to ensure no title defects. (See Title)
• Clear all title defects/ file claim. (See Title Issues)
• Notify Wells Fargo of any liens that may affect our position or our ability to foreclose.
• Do not Foreclosure in the name of MERS.
• Monitor Suspense funds/make recommendations to apply and resolve. (See Suspense)
• Work with the Tax area if we are notified of any delinquent taxes. (See Delinquent Taxes (Jeopardizing
Lien)
• Management of loans being suspended, including loss mitigation, disaster area, etc. (See Holds)
• Notify Wells Fargo of receipt of any bankruptcy notifications. (See Bankruptcy)
• Order VA appraisal within 45 days of sale date. (See VA Appraisal Ordering Process)
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