Wells Fargo XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX CA XXXX This short sale, and Wells Fargo 's participation in it, is covered under the ECOA Regulation B. Please see below bullet points. 

# 1 - " Regulation B applies to all persons who, in the ordinary course of business, regularly participate in the credit decision, including setting the terms of the credit. The term " creditor '' includes a creditor 's assignee, transferee, or subrogee who so participates. '' YOU ( Wells Fargo ) ARE participating in this short sale. Therefore you are required under XXXX to provide a copy of the appraisal. 


# 2 - " All Credit Transactions '' - Since you require a full set of financials from the homeowner and you have told us you pulled their credit. 


# 3 - " Within 30 days after receiving an application that is incomplete regarding matters than an applicant can complete, does the creditor ( a ) notify the applicant of adverse action ( in the manner appropriate for the type of credit - business or consumer ), or ( b ) send a written notice to the applicant specifying the information needed, designating a reasonable period of time for the applicant to provide the information, and informing the applicant that failure to provide the information requested will result in no further consideration being given to the application? ( Although the creditor may inform the applicant orally of the need for additional information, if the application remains incomplete it must provide either notice within the specified time period. ) ( XXXX ( c ) ) In fact, you do both a & b above - you notify the homeowner of adverse action AND you require information to be given and notify the homeowner that failure to provide the information requested will result in no further consideration being given to the application '' *****Per Regulation B, the tests by which an extension of credit is determined include the determination of creditworthiness and an application being made - both of which are fulfilled by WF, use of a credit report in determining whether to extend the offer of a shorts sale, and the requirement by WF of a full and complete financial package to apply for a short sale. 

Therefore, Wells Fargo 's argument that this short sale transaction and its participation in it, are not covered under Regulation B is fallacious. 


We also find it disturbing that the appraiser that you hired is form XXXX CA - a city roughly XXXX hours XXXX. I find it hard to believe that anyone, even a licensed agent, from XXXX California would know the neighborhoods in XXXX California, much less have the ability to come to a determination of value. Per your request our buyer has completed an appraisal by a local appraiser. We have attached it here. Please note that the value has come in at $ XXXX. Wells Fargo claims that their appraisal came in at $ XXXX and refuses to provide any evidence of this whatsoever. This home has extreme deferred maintenance and damage - so much so that it ca n't be financed for purchase and only a cash buyer can purchase this property Entire counties have sued WF due to their fraudulent loan practices. The question arises with the location of this property in a predominantly minority neighborhood and WF storied history of discrimination in lending and loan mod practices against minorities, is this the reason has dug in their heels and refuses to comply with federal law. Honestly, the only other files we have had with WF in which we have experienced this many issues with valuation in an outright refusal to comply with federal law occurred when we were doing short sales for members of the XXXX and XXXX community. The CFPB was also brought in on those situations.