We can help you find what you’re looking for. The links below will guide you to the best ways to contact us, help you find the product or service information you need, answer questions you may have about Wachovia, and more.
Do we need to come to you for marketing instructions?
Once the appraisal comes in, can we list the property?
How should a Servicer handle an assignment problem?
If the property has been on the market for two months with no offers, can we reduce the listing price?
Do we need Wachovia's approval for loss mitigation alternatives?
In whose name should we foreclose and take title?
I have a Wachovia foreclosure. How do I handle it?
Do we need to come to you for marketing instructions?
Once the foreclosure notice is received, Wachovia will issue a foreclosure acknowledgment letter, which gives you a detailed description of how the property should be marketed.
Once the appraisal comes in, can we list the property?
No. Upon receipt of the appraisal, the Servicer must forward the appraisal along with any repair bids to Wachovia. Wachovia sets the listing price and makes the decision concerning repairs.
Contact:
Universal Master Servicing, LLC
200 South Tryon St.
Suite 900
Charlotte, NC 28202
How should a Servicer handle an assignment problem?
First, request the attorney to do a title search. Request the attorney to prepare an assignment of mortgage and submit it to Wachovia for execution. In some cases, a third party may be required to execute the document, and the turnaround time may be delayed.
If the property has been on the market for two months with no offers, can we reduce the listing price?
No. The Servicer can always request a listing reduction by submitting supporting documentation to Wachovia to justify their recommendation. The Servicer must request an appraisal every six (6) months, and, based on the results, Wachovia will review the property for a possible listing reduction.
Do we need Wachovia's approval for loss mitigation alternatives?
Yes. Wachovia needs to review any requests for Deed-in-Lieus, Short Sales/Pre-foreclosure Sales, or Charge-Offs.
In whose name should we foreclose and take title?
When the foreclosure is approved, Wachovia’s approval letter will tell you whose name to foreclose in. We have delegated the approval process to some of the Servicers, and these Servicers should foreclose in the name of the last assignee.
I have a Wachovia foreclosure. How do I handle it?
Refer to Section 5.7 Recommendation for Liquidation of Mortgage Loans of Wachovia’s Servicer Guide. You need to fill out Form 110 (Foreclosure Recommendation) with back up and submit the package to us for approval.
Submit to:
Universal Master Servicing, LLC
200 South Tryon St.
Suite 900
Charlotte, NC 28202
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