For over a month now, we have been told our HAFA Short Sale at B of A has been approved - but the approval letter has yet to come.  Equator even shows the file in closing status and we recently got our "is the closing on schedule" task.

Our BofA closer said we have to get the letter from our UTLS Negotiator (B of A outsources it's HAFA short sale approvals).

BofA Customer Service says they can do nothing.

Our Negotiator at UTLS won't return calls or emails.

Her Team Lead keeps saying we need to give her 72-96 business hours from each escalation request (this Team Lead is the 4th person we have appealed to and the first to actually respond) which seems silly, since after 72-96 business hours, we are told to wait another 72-96 hours.

Anyways, does anyone have tips or a contact number of someone at either UTLS or BofA that can move this along?  We have been told time and time again that we just need to wait. It has been over a month now.

Help!

Views: 871

Reply to This

Replies to This Discussion

Thanks for the tip - unfortunately it is not there either.  Anyone else have a tip or number I can call to move this along?

I heard BofA is no longer outsourcing short sales to LRC or UTLS and they are doing them in house again.  Maybe yours got "lost in the shuffle" and that may be why you're not getting return calls.

You'll have a quicker turn around to close out the HAFA short sale and start from scratch as traditional not using any of BAC's outsourcers.

Possibly true, but you client will lose out on the possible $3,000 and the assurance of the deficiency waiver HAFA brings.

I had the same situation with B of A, using AMS as their HAFA outsourcer.  Sorry to report that, after waiting more than 30 days for the letter, B of A CANCELLED the short sale due to the fact that my listing agreement had expired 2 days earlier.  My listing agmt had not actually expired - it was the date B of A set which allowed 120 days to complete the short sale; we were at 122 days, 2 days more than their 120 days, due to them not providing an approval letter

The buyer had been ready to close for 30 days, with additional EMD in escrow, etc.  My feeling was that they found a viable excuse for denying the short sale, even though they told me that it was HAFA approved.  The same situation - AMS refused to return calls or emails.  I did not anticipate them using listing agreement expiration date as a reason for denial.  .

Hope you have better luck than I did!

I've had several HAFA SS denied for one reason or another initially.  After some heated escalation pointing out the facts of the situation to them I was successfully able to get everyone of them back into the HAFA program.  Bottom Line - Keep fighting!

Have you tried escalating through BofA's twitter help?  I just got a HAFA closed and they were much more helpful than customer service.  @BofA_help   Just keep escalating and stay on the phone once you get someone.  Continue to ask for managers and say you'll hold.  I've found if you wait for them to call you back it wastes too much time.  Good Luck!

I recently had a similar situation and escalated the file.  Both files were pulled from LRC and B of A is working both files.  They pulled them two weeks ago and I'm expecting the approval letters tomorrow.  You might want to email [email protected].  You will get a call with 24-48 hours.  Explain you situation in the email and then to the caller. Tell them that you'd like to have the files pulled from the 3rd party vendor.  You all owe me one for the name.  Send me a nice Xmas present.

Check your HAFA paperwork that the seller signed. If it was signed by the VP, that's all you will get besides the approval letter. The approval letter does not state HAFA anymore. Now it's all in the HAFA paperwork that you put in first and signed by your seller. Once signed by the bank VP, it's approved for HAFA.

RSS

Members

© 2024   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************