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pepitomacarrone
11 Posts |
 Posted - 10/29/2007 : 12:21:30 PM
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anyone knows how to request a VOD from Washington Mutual???
let me know please |
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AmFirstMtg
358 Posts |
Posted - 10/29/2007 : 12:34:42 PM
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| I think you might be better off sending your client to the teller window with the form. I do not remember WAMU being quick or inexpensive when performing VOD's. And I cannot find the phone number. |
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csmgcorp
619 Posts |
Posted - 10/29/2007 : 12:43:47 PM
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Wamu is HORRIBLE for VODs
You have to fax/bring the request and authorization to the local branch and the client gets charged $25 out of their account. Then they take like 7-10 days to get it back to you.
You are better off sending your client to the local branch and having them get a 2 month print out showing all transactions and their current balance. It is free and instant. |
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mandysmom
338 Posts |
Posted - 10/29/2007 : 1:16:19 PM
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I just called the local branch where i live and asked for directions on aquiring a VOD, thet said just fax over the request it then goes on to a main center.2-3 days $10
.00. |
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jmilano15
101 Posts |
Posted - 10/29/2007 : 2:17:54 PM
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They do suck. I have been tempted to close my account after trying to get a VOD as a rush.
800-788-7000 is their main line. You have to mail in the request to a service center that they specify for your area. |
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yuri2353
15 Posts |
Posted - 10/29/2007 : 3:08:55 PM
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| WMAU blows when it comes to their handling of VOD's. But make sure you request for them to fax back the VOD so that the turn time is that much faster. |
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anthonyt2325
1413 Posts |
Posted - 11/14/2007 : 12:51:37 PM
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I have a client who banks with WAMU. I copied his SS Card & Driver License, Signature Authorization and showed up at a branch a few blocks from my office with the VOD in hand.
No problems at all....completed the VOD for me as well as printed his last 2 months of transactions for me....stamped and all.
I'm shocked they actually did it. |
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cs4loan
48 Posts |
Posted - 11/14/2007 : 1:19:23 PM
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Don't send your client to any bank's local branch for VOD. They would offer your clients with their retail rates and beat on whatever the client got from you.
The normal process (by mail) takes a little bit more than one week, which is not too bad. |
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anthonyt2325
1413 Posts |
Posted - 11/14/2007 : 1:24:03 PM
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quote:
Don't send your client to any bank's local branch for VOD. They would offer your clients with their retail rates and beat on whatever the client got from you.
Unless they don't qualify for their banks programs |
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cbathan
457 Posts |
Posted - 11/14/2007 : 1:42:20 PM
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Express VOD address
Wamu Accounting Services VOD
9401 Oakdale Ave
MS-N080202
Chatsworth, CA 91311 |
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MortgageGurl
669 Posts |
Posted - 11/17/2007 : 11:27:36 PM
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quote:
Originally posted by cs4loan
Don't send your client to any bank's local branch for VOD. They would offer your clients with their retail rates and beat on whatever the client got from you.
The normal process (by mail) takes a little bit more than one week, which is not too bad.
This week I needed a VOD from Wachovia, they said I had to send a check along with the request and it could take up to two weeks or have my client call in and authorize for the $25.00 to be deducted from his account. I contacted my client and asked him to call so I could get the VOD within 48 hours. My client went into the bank instead of calling, they told him no problem wait right here and they would get it for him. A few minutes later a Loan Officer came out and tried to sell him a pick a pay. Bast***d! I have been working with this client for 3 months on credit repair so he is not going any where but it did piss me off. |
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peter
6401 Posts |
Posted - 11/17/2007 : 11:47:43 PM
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Once I did go to about 3 Wamu branches on behalf of my
customer and with copies of his SS card, driver's license,
a credit authorization, and a borrower-signed letter
authorizing me to request a VOD on his behalf. It didn't
work for Wamu branches in 2 location, but it did work in
one location and I got the VOD filled out. I've tried
that with B of A and Wells but it never worked as they
are super strict.
These days, with some last-minute rush VODs, I simply
drive to Wamu in Chatsworth which is about 20 minutes
from where I work and beat the mail to get the VOD done.
Once you get the file and the bank statements, you
should decide at that time if you will need to get a VOD
or not. It's always better to get one especially when
your borrower may not have the required reserve for next
month or so, as manytimes the VOD is acceptable even if
it was dated a month before. Underwriters do not exactly
know when the next bank accounting update for your borrower's
account will be and usually do not ask for an "updated
VOD to current month." I have never seen such a strict
condition from any lender.
Peter
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em305
3 Posts |
Posted - 11/18/2007 : 08:33:35 AM
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I always order VOD as soon as I get a new file to avoid delays, for BOA I use this company http://www.bankvod.com/index.asp, ussualy get it 24-48 hours, they also process payment for other banks.
Manny |
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MortgageGurl
669 Posts |
Posted - 11/18/2007 : 08:55:23 AM
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I do too but I had to remove a mortgage late from the clients credit and it took 3 months then he decided to order another appraisal that took another 3 weeks. At some point I just decided to update the whole file when it was ready to be submitted.
Happy Sunday! |
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quick_n_low
294 Posts |
Posted - 11/18/2007 : 1:01:25 PM
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| VODs should never be hand carried by the borrower. Go to the bank with them for borrower authorization IMO. |
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peter
6401 Posts |
Posted - 11/18/2007 : 2:29:12 PM
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What if you suddenly had a surprise that the filled out
VOD does not have the right ending balance, nor the average
balance that you had been informed by the borrower?
Assuming that your file got approved by DU which typically
requires proven asset while sometimes you can get away with
LP that may not require proven asset, shouldn't you try to
save the file by running an LP and see if VOD may not be
necessary thru LP?
Anyone has tried this?
Peter
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MortgageGurl
669 Posts |
Posted - 11/18/2007 : 6:26:58 PM
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quote:
Originally posted by quick_n_low
VODs should never be hand carried by the borrower. Go to the bank with them for borrower authorization IMO.
I am in CA and he is in PA so I might be late. |
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