Subject: Fwd: Wells Fargo Home Mortgage//Update//0288292808
From: "Eric Schwerin" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Tue, 27 Sep 2011 13:30:42 -0400

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked]
P Consider the environment before printing this email.

Begin forwarded message:

From: <[email-masked]>
Subject: Wells Fargo Home Mortgage//Update//0288292808
Date: September 27, 2011 1:24:44 PM EDT
To: <[email-masked]>

Hello,
 
I just spoke with the lead underwriter and attached you will find the list of items that are needed for the underwriting team to review:
 
We will need documentation that the funds are transferred to our borrowers account.  We will also need a copy of the check or wire transfer and I addition to that, we will also need to receive a copy of our client’s most recent statement indicating that the gift funds are available to our client.
We will need to obtain the detailed letter from the CPA (signed, dated, and on CPA Letterhead); unfortunately, we cannot accept the detailed letter from the Tax Attorney, we will need to receive this from the CPA that is working on preparing the Tax Return.  Please ensure that this letter is very specific indicating why the large loss in 2009 and in addition to that, please also ensure that the letter indicates exactly what will be reported on the 2010 K-1.  (*The underwriting team will need to receive a copy of the K-1 once it is completed, we would temporarily accept the letter to get our client to the closing table to ensure that we didn’t case any delays).   
We will need to obtain a letter from the CPA (signed, dated, and on CPA Letterhead) in regards to the 2.3M+ loss that is reporting on the First State PackRat Tax Return.  We need the letter to indicate what this line item is for; and in addition, we the CPA will also have to verify if the loss is due and payable or if it is a roll-over. 
If we receive the 2010 returns from Owasco and First State PackRat, we will only need to obtain the Profit & Loss from the CPA for 2011 year-to-date (if you have to generate the document from your computer that is fine, we will just need the CPA to ensure that the P&L is accurate and true).
 
Please let me know if you have any questions and/or concerns! 
Kindly,
 
Ashley M. McCormick

Loan Document Specialist
 
Wells Fargo Home Mortgage  l  2801 4th Ave South  l  Minneapolis, MN 55408
Mac # X9902-02L
Phone: 888-751-6355 Ext. 75600  l  Fax:  877-889-1851

[email-masked]
 
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