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Updated about 14 years ago on . Most recent reply

Luiz Souza's profile image
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Luiz Souza
  • Real Estate Investor
  • from Gainesville, Georgia
  • Member since Sep 12, 2009
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Luiz Souza's profile image
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Luiz Souza
  • Real Estate Investor
  • from Gainesville, Georgia
  • Member since Sep 12, 2009
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Luiz Souza
  • Real Estate Investor
  • Gainesville, GA
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Foreclosures

Wells Fargo new Rule on POF letter

Luiz Souza
  • Real Estate Investor
  • Gainesville, GA
Posted

Just received a message from a WF negotiator saying they no longer accept 3rd party POF letter. They need to see bank statement to show the required POF.
How are you handling this if using flash funding? Are HMLs willing to provide this info.?

L.Souza

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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

Great opportunity for the thinkers and HMLs. Use you LLCs, limited partner arrangements, capital account and the Operating Agrrement to manage and account for your funds.

I have always shyed away from WF for years anyway. Good luck with them.

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