AMO (formerly utls) saya BAC equator glitch causing delay
Hafa short sale has been an ongoing process with Amo since November. The price of the offer is high enough to yield 98% of what is owed. Second lien at greentree has agreed to 6 k max allowed under hafa and has confirmed this in writing. April 11 we received an approval letter for the hafa short sale saying the offer was accepted. Off days BOC closing rep will be in touch.
But nothing happens. April 24 the negotiator finally answers our calls. States that because of a software glitch (their words not mine) the file was rejected and could not be transferes via equator to BOC. We escalated, used the BOC Twitter team, all led to an Amo escalation team member again stating even though the whole deal was approved it could not close due to theequator glitch and they hopes to have it fixed may 3rd. Told to just wait till then.
Has anyone else had this problem? If the deal is approved by all parties why cant it go manually to BOC? Suggestions welcome.
Buyers likely to be homeless as they gave notice on their rental but now we cannot close may 8 as planned. Would BOC let them move in anyway and rent till the closing? Seller is concerned this would violate hafa owner occupies rule.
But nothing happens. April 24 the negotiator finally answers our calls. States that because of a software glitch (their words not mine) the file was rejected and could not be transferes via equator to BOC. We escalated, used the BOC Twitter team, all led to an Amo escalation team member again stating even though the whole deal was approved it could not close due to theequator glitch and they hopes to have it fixed may 3rd. Told to just wait till then.
Has anyone else had this problem? If the deal is approved by all parties why cant it go manually to BOC? Suggestions welcome.
Buyers likely to be homeless as they gave notice on their rental but now we cannot close may 8 as planned. Would BOC let them move in anyway and rent till the closing? Seller is concerned this would violate hafa owner occupies rule.
Replies to This Discussion
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Permalink Reply by Carol Green on
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Brian, when you uploaded all again, did they go through? we were told not to upload new docs until after May 3.
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UPDATE
Amo was never able ti mive forward despite havi.g issued an approval letter april 11. By may 8 we thougjt the deal was goi.g to crash and burn. Then the sellers attorney sent an email to the MA attorney grneral and copied amo team and b of a tram. B of a stepped in, assigned the first xompetent human being we tqlked to in six months. She and my assistant rebuilt the entire deal in equator in u.der 24 hours. Tasks were pushed througj and we closed may 11. It was a miricle.
If you are deali.g with c bankston or s bassett at amo, run. They are ruse, incompetrnt and unprofessional.
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Permalink Reply by Laura Marshall on
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I have a file with AMO (formerly UTLS) which has been going since January ! Yesterday, I was told again, about some glitch in the system....blah blah blah. The negotiators task is WAYoverdue and of course, no one can help! I just called and the outgoing message stated that the file has been transferred back to B of A. I didn't even have an option to enter the loan number, so they may have transferred all of the B of A files back. YIPEE !!! I'm calling B of A now. PLEASE PLEASE PLEASE let it be sent to NDS..who has been incredible lately.
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