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Wells Fargo Merger: Guidelines for WFHM Default Vendors

Contributed by Wells Fargo Home Mortgage

On May 8, 2004, Wells Fargo Home Mortgage, Inc. merged into Wells Fargo Bank, N.A. The following information provides legal guidelines for replacing Wells Fargo Home Mortgage, Inc. with Wells Fargo Bank, N.A. after May 8, 2004.

 

1.      When will the merger occur?

The merger took place on May 8, 2004.

 

2.      Will Wells Fargo Home Mortgage still exist in name?

Yes.  The brand name will be Wells Fargo Home Mortgage.  The company Wells Fargo Home Mortgage, Inc. will no longer exist.

 

3.      What name should we foreclose in?

Wells Fargo Bank, N.A. successor by merger to Wells Fargo 

Home Mortgage, Inc.

 

4.      What name should we file the Motion for Relief or Proof of Claim in?

Wells Fargo Bank, N.A. successor by merger to Wells Fargo

Home Mortgage, Inc.

 

5.      What if a sale date is already set?  Do we need to amend the name for foreclosure action?

This depends on the state guidelines.  Normally, no changes are

necessary.

 

6.      What wording should be on the foreclosure deed and/or the deed to HUD?

Wells Fargo Bank, N.A. successor by merger to Wells Fargo

Home Mortgage, Inc.

 

7.      What name should be utilized if a legal action is pending during name change? 

This depends on the state guidelines.  Normally, no changes are

necessary.

 

8.      What if we have an executed deed from Wells Fargo Home Mortgage, Inc. and have not been instructed to record/convey the property to HUD prior to May 8?

This depends on the state guidelines.  Normally, the recording of the certificate of merger will complete the chain of title and allow recording of the executed deed.  The attorney should advise of the appropriate measures necessary to ensure transfer of clear title to HUD.

 

9.      What name should be used when making a refund check?

Wells Fargo Bank, N.A.

 

10.  Will WFHM provide our company with a copy of the certificate of merger? 

The merger of Wells Fargo Home Mortgage, Inc. into Wells Fargo Bank, N.A. will be filed with the Secretaries of State.  A certificate of merger received from the OCC and certified by Wells Fargo Bank, N.A., will be recorded in approximately 3,700 counties nationwide.  Copies of the certificate of merger will be provided if requested by the vendor.

 

11.  My firm prepares documents for execution. Will titles change for Wells Fargo team members?

No. The title will still be Vice President Loan Documentation.

 

12.  Does this change affect America's Servicing Company loans?

No. Please handle those loans the same way you would prior to the charter consolidation.

 

13.  Is it acceptable for HUD mailers and property posting tags to utilize the name "Wells Fargo Home Mortgage"?

Yes. Wells Fargo Home Mortgage is the brand name and can be utilized on HUD mailers and property posting tags.

 

Further information — If you have any questions, please

contact one of the following individuals:

 

      Foreclosure Questions

      Nadine Bonsick

      (803) 396-6823

      Nadine.Bonsick@mortgage.wellsfargo.com

 

      Bankruptcy Questions

      Kim Miller

      (803) 396-6967

      Kim.M.Miller@mortgage.wellsfargo.com

 

      Claims, Accounts Payable, Eviction

       Jeff Niklawski

       (314) 726-3993

       Jeffrey.Niklawski@mortgage.wellsfargo.com

 

 

     
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