Bank of America FHA Files... Still a mess
Has anyone found any relief with the B of A FHA Short Sale Process? I still have files that are stuck.. they've got their Short Sale Recommendations and are just sitting.. not being opened. We have done everything the process has asked.. does anyone have any great contacts or super helpful people?? I'm getting frustrated.
Replies to This Discussion
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Permalink Reply by Wendy Rulnick on
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Twitter escalate it.. Also, if it's in Phase II, ask the Phase I negotiator to contact the Phase II negotiator. If you call Twitter, ask them to put FHA Escalation team in touch with you...
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Permalink Reply by Melinda Speth on
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Thanks Wendy! I am not proficient in Twitter, tried it once on this specific file and received no response. I will try it again though right now! Also, I do not have a Phase 1 Negotiator, I am not even Active in FHA Short. We received the recommendation on 6/1 and docs were in 6/20...
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Melinda - Log into Twitter.... Then type this in (note the underscore) @BofA_Help
Then type in "Call Melinda Speth re: property address of problem, your phone number"
You should have a Phase I negotiator, although it could take awhile to assign the file...
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Done. Thank you, I greatly appreciate it!
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Permalink Reply by Kimberley Kelly on
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B of A Twitter Works! They get back to you quickly and although no guarantees, I have had quick responses from my neogitators once initiated. Good luck.
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Once I figured it out ;) I've never tweeted before in my life... I have had great experiences with the B of A Social Media Team, and I'm sure the Twitter Team will be just as helpful! Thanks!
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Permalink Reply by Deborah Weiss on
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I was told there is a new BOA FHA process. Called the "waterfall". clients have to have gone through the remodifcation process and be denied before being considered into the FHA program.
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Permalink Reply by Jim McCormack on
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I have gotten the same "waterfall process" information from BofA. My files are getting stuck at the re-modification stage where BofA keeps saying they need verbal verification of the income and my sellers keep saying they are calling the BofA CRM assigned to their file, but cannot get anyone on the phone. Also, I am getting many files stuck in the "recommend for short sale" status where the seller is declined for a modification, but that department has not properly closed out the modification file. It sounds like BofA implemented a new process, but either did not adequately train their people, or did not hire enough qualified people.
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I agree.. the problem is in the training of the new processes. The Escalation Teams and most of the Negotiators I've dealt with (when finally getting there) have been great. The Sellers have to be proactive and persistent in order to get there!
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Permalink Reply by Trong Dang on
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I have had the same issue with needing verification of income and also my seller has been trying for 2 months
with no avail. I was that I would be able to update the information for her last week. This week I am getting the run around myself. In my opinion as well I do not think they have hired and trained enough.
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Yes, the waterfall process is a joke. If these Homeowners were able to pursue other options, that what they would be doing. I believe it is just another way to slow the process... and it's working.
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Permalink Reply by Manuel Rosa on
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B of A is way behind on FHA short sales. I've been told that each negotiator has 100+ FHA short sale files at any given time. Escalate to the B of A social media team. Also, if you can obtain the FHA cas number, you can call HUD for assistance. Good luck.
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