I have an investor loan serviced by Wells Fargo with a loan balance of 730K. After 1 1/2 years of back and forth, Wells Fargo has approved a loan mod for five years. On investor loans, the mod is only temporary for five years. However, I will take it. Completed trial payments and now five months into modification with signed paperwork back from Wells Fargo.
Three things that I learned about the process that could be helpful for others:
1. You do not have to be late or behind on payments. I was not. However, you must have documented income, stable employment. Hence, be good risk. In short, it's still a business for the lender and investor and the income has to be present to justify a mod.
2. Attend the Wells Fargo Nat. Home Assistance Conventions in your area.
3. Develop a point of contact in the Executive Office and find the right one.
This website was instrumental in assisting me in particular the info about the Executive Offices.