Wells Fargo has grown “suspicious” of contract renegotiations that result in price increases, and other lenders are expected to follow suit. The price increases invariably occur after an appraisal comes in higher than expected and they invariably result in increased seller-concessions. As a result, Wells will no longer allow upward renegotiations after January 25th. There are many ways around this issue. If any of you ever face this issue, please do not hesitate to call us.
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