Wells Fargo

I worked with Premiere Asset Services (Wells Fargo) for almost five years. They call you because they asked another company for a referral in your area, someone this company has worked with and had good results. Applications are routinely thrown out. I completed many more bpo's (at half my normal fee) than received listings - listings averaged 3 per year. Wells Fargo made a large number of loans underwritten by Fannie Mae. When these properties are foreclosed on by Wells Fargo, they automatically are transferred to Fannie Mae. The asset managers at PAS are/were a good bunch to work with; I wish I could say the same about the snob law firm they work with, Davis-Brown, who occasionally does some pretty inferior work. I know this because I've been cc'd in on every email between two law firms, big city vs small country, arguing over proper legal methods, and for several "cases". Once, big city had to foreclose again because the first time was wrong from day 1. Once, I had a property sold - well, to the day before closing when it was discovered WF didn't own it - they had transferred it to another company well before assigning it to me. Every glitch I had with the sale of a WF property was due to the law firm. There are many companies far better than WF/PAS - spend your time finding them.

Replies

Jane Pagel December 19, 2011 at 6:22am

I worked with Premiere Asset Services (Wells Fargo) for almost five years. They call you because they asked another company for a referral in your area, someone this company has worked with and had good results. Applications are routinely thrown out. I completed many more bpo's (at half my normal fee) than received listings - listings averaged 3 per year. Wells Fargo made a large number of loans underwritten by Fannie Mae. When these properties are foreclosed on by Wells Fargo, they automatically are transferred to Fannie Mae. The asset managers at PAS are/were a good bunch to work with; I wish I could say the same about the snob law firm they work with, Davis-Brown, who occasionally does some pretty inferior work. I know this because I've been cc'd in on every email between two law firms, big city vs small country, arguing over proper legal methods, and for several "cases". Once, big city had to foreclose again because the first time was wrong from day 1. Once, I had a property sold - well, to the day before closing when it was discovered WF didn't own it - they had transferred it to another company well before assigning it to me. Every glitch I had with the sale of a WF property was due to the law firm. There are many companies far better than WF/PAS - spend your time finding them.
Alina December 16, 2011 at 12:47pm

They just let go a bunch of Reo agents from Wells 2 months ago. They mention that their inventory was too low to add agents. I was one of the agent let go. I worked with Well for 4 years. Very, very slow the last year. Maybe it different in your state, no sure.
Rick Foxx December 15, 2011 at 4:02am

Referral from your local branch that originates mortgages, need to send them reciprocal business.

This reply was deleted.