Stock and Lease Order

CO-OP Request Instruction Sheet

This office represents Wells Fargo Bank, N.A. in connection with Co-op Termination requests. This communication will serve to confirm our receipt of your online contact requesting our involvement in connection with obtaining your Co-op documents.

Upon receipt of your completed online order, we will initiate the Co-Op document retrieval process with Wells Fargo Bank, N.A. PLEASE BE AWARE THAT THIS REQUEST MAY TAKE 2 TO 3 WEEKS COMPLETE TO OBTAIN ORIGINAL DOCUMENTS.

If you have circumstances surrounding your transaction, (lock in expiration, rate expiration, funding issues, etc.) which may be compromised due to the length of time it may take to secure your original documents, please plan accordingly. We will do all within our ability to move this request expeditiously, however, we cannot be accountable or responsible for circumstances for which we have no control over.

In order to initiate the coop termination process, this form must be completed in its entirety.

Before any file can be scheduled, released, prepared or terminated, the following must be faxed to our office:

  • A copy of all UCC-1s in the chain to be terminated;

ADVISORY:

  1. Haggerty Munz, PLLC acts solely as agents for Wells Fargo Bank, N.A., and no other party. No relationship is created by virtue of their actions other than that which they have as counsel to Wells Fargo Bank, N.A.
  2. It is specifically understood that the new lender, or their counsel, will review the documents advanced by Wells Fargo and will forward said documents to the appropriate party. All proposed changes to the documents must be advanced, VIA FAX or EMAIL ONLY, at least 72 hours before the scheduled closing. Verbal requests for changes cannot be accepted. Closings may not be scheduled via voicemail.
  3. It is clearly understood that our representative, who attends the closing, will not be able to alter the instruments, discuss payoff amounts or form of payment. All payments, including legal fees paid hereunder, must be in the form of certified funds, bank check and/or attorney escrow. No personal checks can be accepted. Our representative will not deliver the documents unless strict compliance is observed.
  4. Be advised that interest runs on any payoff until such time as the money is received by the payoff department of Wells Fargo. Please advise all parties to calculate their interest and payments through to the second business day after funding.

Fees:

  1. Our firm charges $490.00 for our participation in the Co-op process, which is payable at the closing or funding. If this is a short sale, our firm charges $650.00. Attended closings are scheduled 5 business days in advance with our office. Our representative is scheduled to be at the closing for 1 hour only. A separate fee of $100.00, plus expenses will be charged for any additional hour or portion thereof. It is urged that you plan accordingly when requesting our attendance. All fees must be paid upon document presentation. Our firm fee includes a fee for overnight delivery of payoff sums. ALL PAYOFFS MUST BE MADE BEFORE 4:00 PM IN ORDER TO REACH THE WELLS FARGO PAYOFF DEPT BY THE NEXT BUSINESS DAY. If your transaction will fund later than 4:00 PM, please provide the appropriate interest to reflect an extra business day.
  2. If our representative appears at funding/closing and file is adjourned for reasons not related to our service, our firm charges a $250.00 adjournment fee. Please be sure to notify our office of all file/ closing cancellations. If a file schedules three or more times, additional administrative fees may apply.

Payoff Calculations should be done at closing, with the Wells Fargo Payoff Specialist on the Payoff Letter.

I have completely read and understand the above instructions and agree to the fee structure described.

Haggerty Munz, PLLC Attorneys at Law
500 North Broadway, Ste. 128
Jericho, NY 11753
Phone: 516-222-0676
Fax: 516-222-8011

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