DTS has been running ramped in my area contacting any realtor with a listed Bank of America loan, any one else experiencing this?
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DTS has been running ramped in my area contacting any realtor with a listed Bank of America loan, any one else experiencing this?
You need to be a member of Short Sale Superstars to add comments!
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but they take over by setting up equator account and you have to play ball with them because you cant initiate another short sale under the same account number
lots of mixed opinion here.
I am not experiencing incompetence. I am it seems I am required to work with them. I have a 10000 relocation allotment from them for my seller...we shall see
The relocation is not specific to this company, they just want you to think that. You can ask for relocation assistance on any file. I guess my question is, did they tell you are required to work with them or did the actual servicer tell you that you are. I am guessing it's BOA. I believe once you initiate the file with them than you are but you do have the choice not to. Don't know the facts about your file so can't say for sure but I know we had an option and regrettably we gave DTS the opportunity to handle the file which is clearly a mistake.
There was another company name NDS (National Default Servicing) that was doing the same thing. The file was initiated by another agent prior to me taking the listing so the file was already active with them. I am having the same issues with DTS as I was with them. I eventually was able to get BOA take the file back after numerous escalations. It is my understanding that BOA ended their relationship with NDS due to their inability to complete these files. I am still trying to clean up the mess and damage they caused on that file.
MICHIGAN SHORT SALE - Redemption rights - 6 months
How can I bypass DTS and go straight to Bank of America. DTS is a nightmare. The lies are endless. During negotiations with the mortgage insurance company B of A foreclosed with 3 days notice. However, seller was notified in December of foreclosure, the sale was continually post poned and "coincidently" B of A decided to foreclose as soon as seller agreed to bring 15k to the table. They would not postpone the sale. The date was June 27th. We were still in negotiations at that time and still corresponding.
For the fourth time uploaded file in Equator, long story short, negotiator said the file had been approved by B of A quality assurance and waiting on a response from Triad Guaranty, the MI company, expecting a response any minute After 2 weeks waiting I called Triad who said they had not heard from DTS or B of A since they made a condition that B of A rescind a claim made due to the foreclosure sale. Asked the negotiator about this, blah, blah, more lies. I tried escalating, then to upper management to get this task completed, no response. A couple of weeks later no solution. Why did Bank of America file a claim with the MI company when we were in the process of a short sale and they were well aware the seller was trying to redeem? Negotiator assured me this obstacle was going to be overcome and not to worry, I assure you we will get this taken care of in case your buyer walks it wont be a problem for your next buyer.
Three days in a row I received the same message in Equator stating the investor was reviewing the file.
Day 4, Decline due to foreclosure.
Called negotiator who would not speak to me and deferred me to his manager who was not available to speak to me but would call me back. No call to date.
I called BofA customer service, they recognized there was a problem and said a decline dispute would be filed and I would receive a call within 48 hrs. 5 days later, no call.
We have contacted our Senator's Office as suggested by seller's attorney. Homeowner filled out an authorization to contact the Office of the Comptroller, Attorney General, Consumer Protection Agency and HUD. I was told they have been getting call backs within 48 hours and having great success
Michigan Statutory Redemtption Law is being violated prohibiting the homeowner to redeem.
Escalate to the Office of the President at BOA if you're having issues.
Kevin,
If Bank of Mellon NY will not short sale the property after foreclosure what was the point of DTS processing the file anyway. Such a waste of time.
I have a hard time believing Bank of Mellon can short sale before foreclosure but not during the redemption period. BofA slipped in with a foreclosure sale while in negotiations with the MI company. Sheriff sale on June 28 and still negotiation July 1, Received decline July 1.
Uploaded again and 2 months later another decline DUE TO FORECLOSURE. The investor will not allow seller to exercise their 6 month redemption period.
Is there any way around this?
The investor was going to received 30k more than appraised value. ]
Has the Seller / Borrower provided WRITTEN authorization for you to speak with DTS just like they did with the primary lienholder? If not, you better get it ....
FOLKS ! Remember you cannot speak with anyone abotu the borrower's loan UNLESS they have provided written authorization to do so. For example, if DTS is contacting agents about properties they have listed / in short sale process - just tell them you are not authorized to speak with them. DO NOT confirm or deny any information about the borrower, the loan, property, offers or anything else as you are not authorized to do so (unless the borrower has authorized you in writing)
Be careful, I think this will be the next class action lawsuit by borrowers / sellers claiming agents communicated with lenders / servicers / 3rd party handlers without the proper written authorization.
CAUTION......
Hi Thom!
DO you perhaps know of an existing case # or complaint # already registered for investigation with Kamala Harris Attorney General against NAtionstar? Does anyone? I would like to include that in my escalation. I have already filed my complaint online with the attorney general and also the dept of corporations .. I am over these guys but I would like more info if you have some available. power by numbers and I think if we all proactively do our part .. we can make a difference to help our homeowners out.
I think if it was to be a class action lawsuit it would be aimed at the servicer for giving out the information to companies like DTS to follow up with. Who knows the legalities behind that relationship though.
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