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Step 1
Current Wells Fargo Customers:
Who Owns Your Mortgage?
You can call our customer service to find out who owns your loan or you may verify directly with Fannie Mae and Freddie mac online.
Call (800) 455-1525
Does Freddie Mac own Your Wells Fargo Mortgage:
ww3.freddiemac.com/corporate/
Does Fannie Mae Own Your Wells Fargo Mortgage:
http://loanlookup.fanniemae.com/loanlookup/
Once we verify your loan is owned by Freddie Mac we can process your loan for "Freddie Mac Relief"
Step 2
Effective for new registrations on and after April 7, 2009, follow the process outlined below for the Freddie Mac Relief Refinance Mortgage program to ensure eligibility:
1. Ensure that the borrower meets minimum eligibility requirements by following guidelines published by Freddie Mac, and validate that Wells Fargo is the servicer.
2. Upon completion of step one, we will to register the loan in a float status via our Broker’s First® Web Site; select the "FHLMC To FHLMC" program for a Freddie Mac Relief Refinance Mortgage.
3. Run the loan through Direct Express.
4. Complete the Borrower Authorization form, and have you the borrower sign the form.
5. Fax the form to (866) 411-7128.
We will receive a fax confirmation within two business days regarding the loan; the confirmation will include a Wells Fargo Validation Checklist. Once we receive the Wells Fargo Validation Checklist, with confirmation that you the borrower may be eligible for the program,
6.Submit the loan with the completed Borrower Authorization form and Wells Fargo Validation Checklist in the file.
3. Wells Fargo will determine if any additional documentation is required once the loan file has been underwritten. We will not submit any additional documentation unless we have been requested to.
4. If the faxed Wells Fargo Validation Checklist shows that the loan is not eligible for the appraisal waiver, we will notify you the borrowers to determine next steps, which may include ordering a full appraisal on their property.
5. Submitt final pakage for Prefunding with conditions if any.
6. Draw loan documents.
7. Borrower to sign Freddie Mac Relief loan documents.
8. Funding/Closing
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