Washington State-Could this be an NOI?

Evan Bedard

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Loan Safe Mortgage
Aug 26, 2007
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San Diego, California
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We have not received a NOI or anything. I am wondering if it is because, when I look at my county recorded paperwork, that MERS in listed on the title as well as the company who gave us the loan than apparently sold it to Wells Fargo in days after closing.

Also, I sent in a letter asking who owns my note back in June and never heard back from Wells Fargo. I am wondering if I have one of those notes who no one owns so their hands are tied?

Any thoughts?
I'm surprised you have yet to even receive an NOI in Washington and this could very well be the reason they have not attempt to initiate foreclosure proceedings. Have you checked MERS to see who they have listed as the owner of your mortgage?

Here are some helpful links you can use to determine who owns your loan. Chances are you will not find the loan in the Fannie or Freddie links but you may find it in the MERS system.

Does Freddie Mac own my loan? https://ww3.freddiemac.com/corporate/

Does Fannie Mae own my loan? Does Fannie Mae Own Your Mortgage? Loan Lookup Tool

You can check the MERS system database to see if your property is in it here:

https://www.mers-servicerid.org/sis/
 

jewelesup

LoanSafe Member
Oct 8, 2009
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I hope this doesn't post twice as I thought I just posted this and it didn't show. Anyway, Thank you so much Evan for your response!

I checked bot Fannie and Freddie and we are not listed. MERS does show us with an inactive MIN, assuming because we live in Washington and since MERS can not foreclose that they transferred us out. It shows Wells Fargo as servicer and Gennie Mae as guarantee/investor. But I thought Gennie Mae did not invest just guarantee.

I guess I am wondering if the banks have to respond to the "produce the note" inquires and how long they have. I should have sent my letter certified, I will next time.

I am also wondering if others are in this sort of situation since the Supreme Court in Bain VS Mers said only the original note holder can foreclose.
I am not complaining about not paying, we are helping our college kids and saving money. I am concerned we may need a big upfront deposit if we have to rent since we did this. We have perfect credit otherwise. Our credit has took a hit but is still in the high 600's.
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
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Colorado
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Hello. We defaulted on our WF FHA loan in March 2011. At first we got calls and I got referred to a Home Preservation specialist at Wells Fargo. Also, when we had to option to meet with the Lender we took advantage of it and did a phone interview. At that time, about June, they asked me to send in loan modification paperwork. I asked how long we had and they said 30 days , so I sent it all in within that time frame. In the meanwhile we got a letter from the W.F. Home Preservation specialist saying because we didn't send the paperwork in for the mod in time (which we did) that she could no longer help us. I called her and left a message saying we did send in paperwork. Well, every since then we have not got any letters, just daily calls from the automatic system saying we are delinquent.

We have not received a NOI or anything. I am wondering if it is because, when I look at my county recorded paperwork, that MERS in listed on the title as well as the company who gave us the loan than apparently sold it to Wells Fargo in days after closing.

Also, I sent in a letter asking who owns my note back in June and never heard back from Wells Fargo. I am wondering if I have one of those notes who no one owns so their hands are tied?

Any thoughts?
If your loan is an FHA loan then it is a government backed loan backed by HUD/FHA. They own their own and insure their own loans.
 

jewelesup

LoanSafe Member
Oct 8, 2009
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The strange thing is that I once asked the Home Loan Specialist who owns my note and she said it showed Wells Fargo owns it. I wonder why, if FHA owns it, they have not done anything. Is there any way to see if FHA owns my loan?
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
The strange thing is that I once asked the Home Loan Specialist who owns my note and she said it showed Wells Fargo owns it. I wonder why, if FHA owns it, they have not done anything. Is there any way to see if FHA owns my loan?
Your loan documents should have an FHA Case Number on them if it is an FHA loan, or you can try contacting the FHA NSC here;

CONTACT FHA

FHA staff are available to help answer your questions and assist you to better understand your options as an FHA borrower under these loss mitigation programs. There are several ways you can contact FHA for more information, including:

 

jewelesup

LoanSafe Member
Oct 8, 2009
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Okay. I called FHA and they said they insured the loan but the owner and servicer is Wells Fargo. They apparently bought my loan after we closed. I will send a certified letter asking them to produce the note because in our county records it shows MERS and the original lender on the title. Nothings was ever filed with W.F. It is just curious to me why they have not done anything at all.
 

Cat Damiano

Mortgage Wars
Sep 10, 2007
10,541
39
48
Colorado
www.loansafe.org
Okay. I called FHA and they said they insured the loan but the owner and servicer is Wells Fargo. They apparently bought my loan after we closed. I will send a certified letter asking them to produce the note because in our county records it shows MERS and the original lender on the title. Nothings was ever filed with W.F. It is just curious to me why they have not done anything at all.
The loan may be serviced by WF, but it is still an FHA loan and would fall under the loss mitigation programs available to FHA loans. You can look through those programs and see if you are eligible here;

FHA National Servicing Center Loss Mitigation Services - HUD
 

jewelesup

LoanSafe Member
Oct 8, 2009
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We defaulted 3/2012. We got something in the mail that does not say "Notice of Intent" but it is a note from the lender saying that our loan has been referred to an attorney with instructions to start foreclosure proceedings. It then gives the trustees name and address. It says we can call lender if we want to reinstate or need assistance selling. It also says that the letter is for information purposes and not to demand payment.

Could this be the NOI, first step in Washington State to foreclose? Do they have to send me something saying Notice of Intent?

I am just confused as we sent in our paperwork for a loan modification and no one ever got back to us except to say we did not send paperwork in time which we did.

Thanks for any advice!
 

stephanies

LoanSafe Member
Jan 24, 2011
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Jewelesup
If this is your primary residence, per WA State law, you are to get an official letter for your right for a 'meet and confer' meeting, and if you request one, then the servicer must wait 90 days before sending you an official Notice of Default letter.

Is there anything on the letter that states about your right to Meet and Confer, if your primary residence? I would go to the attorney generals website and look at the foreclosure law section, and it will tell you what each letter must look like and the copy that the servicer is to include

Who is your servicer? Many have gotten several letter of notice of intent, but they are not the official kick off of the preforeclosure process.

And it is no surprise the that servicer told you that you did not get your modification paperwork in on time... that is a common excuse for not giving you a modification...

The good news here is that as long as this is your primary residence, you will be protected by the new foreclosure laws of WA state, and the timelline that the servicer has to follow.... once you get your official 'meet and confer' notice, if you request a meeting, the servicer has to hold off for 90 days from sending you a Notice of Default... most won't give you the meeting, but don't worry, because as soon as you get your Notice of Default 90 days later, you can request for mediation through a housing counselor at no cost to you, except a small mediation fee, and that will give you your chance for a modification with the actual owner of your loan, via the mediation and housing counselors oversight.... mediation will take another 90 days at least from the time you request it, and before they can send you a Notice of Trustee sale... for example, if you get your notice of default, say on Feb 1st, and request mediation from a housing counselor, then the servicer cannot send you your notice of Trustee sale until mediation is done - when hopefully you get your modification, and if not, then they must wait 120 days before they can have your trustee sale date... so you are at least 300 days from getting your official meet and greet notice before your home could be sold at auction, or another 10 months to try and get your modification with someone else working on your behalf as well...
 

jewelesup

LoanSafe Member
Oct 8, 2009
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Thank you for your reply Stephanies...we did the first meet and confer in July 2012 over the phone. That is when I said we wanted to apply to modify and they told us to send in all the tons of paperwork. I sent it all in within 30 days. In the meanwhile we got a letter from Wells Fargo saying they did not get the needed paperwork so I called our contact at W.F. and got a message saying she was on vacation. I left a message about the letter and sending in the info but she never got back. I assumed they were working on it all until I got the letter today. I will, as you advised, contact a counselor and see if we can work this out. Thank you so much for your help!
 

jewelesup

LoanSafe Member
Oct 8, 2009
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Well, I called the trustee and they said that the NOD will not be issued for a few weeks. I called WF to ask what happened to the origill that nal paperwork for the mod I sent and they said it must have crossed the deadline so I have to send it all in again. Wahhhhh! It is so much work! Dang. Oh well....getting all that junk together again!