[WSBAPT] Wells Fargo

Wed May 16 13:31:26 PDT 2018

RCW 61.24.110
Reconveyance by trustee.
(1) The trustee of record shall reconvey all or any part of the property
encumbered by the deed of trust to the person entitled thereto on written
request of the beneficiary, or upon satisfaction of the obligation secured
and written request for reconveyance made by the beneficiary or the person
entitled thereto.
(2) If the beneficiary fails to request reconveyance within the sixty-day
period specified under RCW
<http://app.leg.wa.gov/RCW/default.aspx?cite=61.16.030> 61.16.030 and has
received payment as specified by the beneficiary's demand statement, a title
insurance company or title insurance agent as licensed and qualified under
chapter  <http://app.leg.wa.gov/RCW/default.aspx?cite=48.29> 48.29 RCW, a
licensed escrow agent as defined in RCW
<http://app.leg.wa.gov/RCW/default.aspx?cite=18.44.011> 18.44.011, or an
attorney admitted to practice law in this state, who has paid the demand in
full from escrow, upon receipt of notice of the beneficiary's failure to
request reconveyance, may, as agent for the person entitled to receive
reconveyance, in writing, submit proof of satisfaction and request the
trustee of record to reconvey the deed of trust.
(3)(a) If the trustee of record is unable or unwilling to reconvey the deed
of trust within one hundred twenty days following payment to the beneficiary
as prescribed in the beneficiary's demand statement, a title insurance
company or title insurance agent as licensed and qualified under chapter
<http://app.leg.wa.gov/RCW/default.aspx?cite=48.29> 48.29 RCW, a licensed
escrow agent as defined in RCW
<http://app.leg.wa.gov/RCW/default.aspx?cite=18.44.011> 18.44.011, or an
attorney admitted to practice law in this state may record with each county
auditor where the original deed of trust was recorded a notarized
declaration of payment. The notarized declaration must: (i) Identify the
deed of trust, including original grantor, beneficiary, trustee, loan number
if available, and the auditor's recording number and recording date; (ii)
state the amount, date, and name of the beneficiary and means of payment;
(iii) include a declaration that the payment tendered was sufficient to meet
the beneficiary's demand and that no written objections have been received;
and (iv) be titled "declaration of payment."

Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com

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From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jennifer C. Rydberg
Sent: Wednesday, May 16, 2018 8:08 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Wells Fargo

How does one obtain a Reconveyance Deed from Wells Fargo?

Facts:  Client's mother obtained a Wells Fargo $100K HELOC and secured her
real estate with a Deed of Trust to Wells Fargo over a decade ago.  There's
been no activity on the account for years and a $0 balance when mother died
last year.  At sale of the real estate, the escrow company was unable to get
Wells Fargo to respond to its numerous requests to clear title or certify
the balance owed.  I tried mailing a request to the Wells Fargo CEO in San
Francisco, with no response.   The real estate recently sold, but the escrow
company held back $100K because there is no reconveyance deed.  

Your thoughts on how to obtain the needed reconveyance deed will be greatly
appreciated.  Is anyone aware of a class action lawsuit against Wells Fargo
that is dealing with this issue?

With kindest regards,

Jenny Rydberg 

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