Second Mortgage of 75K Refusing to Participate in HAFA and Demanding 34K - Short Sale Superstars2024-03-29T00:47:57Zhttp://shortsalesuperstars.com/forum/topics/second-mortgage-of-75k-refusing-to-participate-in-hafa-and?feed=yes&xn_auth=nohttp://www.pncmortgage.com/Li…tag:shortsalesuperstars.com,2012-03-01:3468065:Comment:2166822012-03-01T06:29:31.408ZKevin - Greenville, SChttp://shortsalesuperstars.com/profile/KevinMWillson
<p><a href="http://www.pncmortgage.com/Libraries/Important_Documents/HAFA_Eligibility_Matrix.sflb.ashx">http://www.pncmortgage.com/Libraries/Important_Documents/HAFA_Eligi...</a></p>
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<p>PNC Mortgage Escalation<br></br>• Escalation is handled through the Executive office. The email address for<br></br>complaints is: executive.office@pncmortgage.com. The mailing address for written<br></br>complaints is:<br></br>PNC Mortgage – Executive Office<br></br>3232 Newmark Drive<br></br>Miamisburg, Ohio…</p>
<p><a href="http://www.pncmortgage.com/Libraries/Important_Documents/HAFA_Eligibility_Matrix.sflb.ashx">http://www.pncmortgage.com/Libraries/Important_Documents/HAFA_Eligi...</a></p>
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<p>PNC Mortgage Escalation<br/>• Escalation is handled through the Executive office. The email address for<br/>complaints is: executive.office@pncmortgage.com. The mailing address for written<br/>complaints is:<br/>PNC Mortgage – Executive Office<br/>3232 Newmark Drive<br/>Miamisburg, Ohio 45342</p>
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<p><a href="http://www.realtor.org/wps/wcm/connect/04cbb28045cc9f638a5ecb342c47dc89/HAFA_escalation_31611.pdf?MOD=AJPERES&CACHEID=04cbb28045cc9f638a5ecb342c47dc89">http://www.realtor.org/wps/wcm/connect/04cbb28045cc9f638a5ecb342c47dc89/HAFA_escalation_31611.pdf?MOD=AJPERES&CACHEID=04cbb28045cc9f638a5ecb342c47dc89</a></p> OFFICERS & DIRECTORS
Na…tag:shortsalesuperstars.com,2012-03-01:3468065:Comment:2166152012-03-01T06:22:25.883ZKevin - Greenville, SChttp://shortsalesuperstars.com/profile/KevinMWillson
<div class="moduleHeader"><h3><a href="http://www.reuters.com/finance/stocks/companyOfficers?symbol=PNC">OFFICERS & DIRECTORS</a></h3>
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<div class="moduleBody"><table border="0" cellspacing="0" class="dataTable" width="100%">
<tbody class="dataSmall"><tr><th>Name</th>
<th>Compensation</th>
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<tr class="stripe"><td><h2 class="officers"><a class="link" href="http://www.reuters.com/finance/stocks/officerProfile?symbol=PNC&officerId=64474">James Rohr…</a></h2>
</td>
</tr>
</tbody>
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<div class="moduleHeader"><h3><a href="http://www.reuters.com/finance/stocks/companyOfficers?symbol=PNC">OFFICERS & DIRECTORS</a></h3>
</div>
<div class="moduleBody"><table width="100%" cellspacing="0" border="0" class="dataTable">
<tbody class="dataSmall"><tr><th>Name</th>
<th>Compensation</th>
</tr>
<tr class="stripe"><td><h2 class="officers"><a href="http://www.reuters.com/finance/stocks/officerProfile?symbol=PNC&officerId=64474" class="link">James Rohr</a></h2>
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<td class="data">16,600,800</td>
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<tr><td><h2 class="officers"><a href="http://www.reuters.com/finance/stocks/officerProfile?symbol=PNC&officerId=64476" class="link">Joseph Guyaux</a></h2>
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<td class="data">5,367,940</td>
</tr>
<tr class="stripe"><td><h2 class="officers"><a href="http://www.reuters.com/finance/stocks/officerProfile?symbol=PNC&officerId=303301" class="link">William Demchak</a></h2>
</td>
<td class="data">9,422,990</td>
</tr>
<tr><td><h2 class="officers"><a href="http://www.reuters.com/finance/stocks/officerProfile?symbol=PNC&officerId=64484" class="link">Thomas Whitford</a></h2>
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<td class="data">6,954,760</td>
</tr>
<tr class="stripe"><td><h2 class="officers"><a href="http://www.reuters.com/finance/stocks/officerProfile?symbol=PNC&officerId=358138" class="link">Richard Johnson</a></h2>
</td>
<td class="data">3,198,010</td>
</tr>
</tbody>
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<div class="moreLink"><a href="http://www.reuters.com/finance/stocks/companyOfficers?symbol=PNC">» More Officers & Directors</a></div>
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<div class="moreLink"><a href="http://www.linkedin.com/in/gelincamp">http://www.linkedin.com/in/gelincamp</a></div>
<div class="moreLink"><a href="http://www.pnccs.com/pdf/spreport.pdf">http://www.pnccs.com/pdf/spreport.pdf</a></div> I am in Phoenix also and I se…tag:shortsalesuperstars.com,2012-02-28:3468065:Comment:2161972012-02-28T18:17:26.396ZMary K Fosterhttp://shortsalesuperstars.com/profile/MaryKFoster
<p>I am in Phoenix also and I see why agents reject them, I am all for a challenge but this is just ridiculous. I cannot get past the first line of defense at PNC, every number or email I have received from forums has been disconnected. Do you think they are trying to avoid agents!!! I communicate with the negotiator via email only and she freaks out when I try to call her. She will send an immediate email and say to stop trying to call her, she is busy and email is best, oye, I am going for…</p>
<p>I am in Phoenix also and I see why agents reject them, I am all for a challenge but this is just ridiculous. I cannot get past the first line of defense at PNC, every number or email I have received from forums has been disconnected. Do you think they are trying to avoid agents!!! I communicate with the negotiator via email only and she freaks out when I try to call her. She will send an immediate email and say to stop trying to call her, she is busy and email is best, oye, I am going for the alcohol. Dealing with PNC is not healthy for sure. Any ideas on how to penetrate to escalate this file. Number must be recent! Title gave me 6=7 contacts now of which were good, emails or phone numbers! HELP</p> Here is Phoenix it is very di…tag:shortsalesuperstars.com,2012-02-27:3468065:Comment:2158242012-02-27T15:46:36.891ZJames Minerhttp://shortsalesuperstars.com/profile/JamesMiner4
<p>Here is Phoenix it is very difficult to find anyone who will take a PNC short sale. They pride themselves in getting nothing vs. something. When management has that mind-set it is very difficult to achieve a successful short sale. The norm is PNC wants 50%. </p>
<p>I do believe PNC is responsible for the increase in Gin sales.</p>
<p>Here is Phoenix it is very difficult to find anyone who will take a PNC short sale. They pride themselves in getting nothing vs. something. When management has that mind-set it is very difficult to achieve a successful short sale. The norm is PNC wants 50%. </p>
<p>I do believe PNC is responsible for the increase in Gin sales.</p> http://www.occ.gov/news-issua…tag:shortsalesuperstars.com,2012-02-27:3468065:Comment:2159862012-02-27T04:14:30.045ZGary Johansenhttp://shortsalesuperstars.com/profile/GaryJohansen
<p><a href="http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47i.pdf">http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47i.pdf</a></p>
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<p>Page 6, middle of page COMPLIANCE PROGRAM</p>
<p><a href="http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47i.pdf">http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47i.pdf</a></p>
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<p>Page 6, middle of page COMPLIANCE PROGRAM</p> Currently doing that option w…tag:shortsalesuperstars.com,2012-02-27:3468065:Comment:2159022012-02-27T02:53:33.147ZPatrick Perkinshttp://shortsalesuperstars.com/profile/PatrickPerkins
<p>Currently doing that option with PNC. Had lien strip motion in place, they objected to debtors/sellers plan but we worked out an agreement with their bankruptcy counsel to approve the plan which includes the short sale approval and payments. They wanted us to still run it formally through their short sale department though the agreements and court orders were in place. PNC negotiator came back claiming the investor is demanding $30,000 to release the lien. The bankruptcy court orders…</p>
<p>Currently doing that option with PNC. Had lien strip motion in place, they objected to debtors/sellers plan but we worked out an agreement with their bankruptcy counsel to approve the plan which includes the short sale approval and payments. They wanted us to still run it formally through their short sale department though the agreements and court orders were in place. PNC negotiator came back claiming the investor is demanding $30,000 to release the lien. The bankruptcy court orders give them $6,000 and the deficiency amount put into the seller/debtor bankruptcy for payment through their approved plan which will actually pay them about 60% of their $154,000 claim.</p>
<p>We just received BofA approval with $6k to PNC so I am following up my previous demand letter which threatened to bring an action against PNC and the investor for violation of the bankrupcy orders and automatic stay if they didn't abide by the orders which their bankruptcy counsel had wisely agreed to for them. Said violations are not looked upon lightly by the bankruptcy court and they will award punitive damages, actual damages, attorney fees and costs. We are suppose to hear back from PNC's negotiator this week or we are following through on filing the motion against PNC in bankruptcy court.</p>
<p>Bankruptcy does potentially gum things up, but it keeps the property from being foreclosed upon, potentially more time for your clients to stay in the property payment free and it protects your commission that you have been working hard to earn.</p>
<p>I will post back with our final results when we have them.</p> Thanks Teresa for your help,…tag:shortsalesuperstars.com,2012-02-26:3468065:Comment:2156732012-02-26T22:46:58.245ZMary K Fosterhttp://shortsalesuperstars.com/profile/MaryKFoster
<p>Thanks Teresa for your help, I have already emailed your gal! I sure hope that helps and that I get an answer fast ,, like tomorrow! I have had a difficult time escalating in PNC, I have a title company with many upper contacts and she gave me about 5 or 6 for PNC and I emailed each one of them and now of them responded expect one who said he doesnt work in that area anymore and gave me the 800 number that I had for cs! Geez thanks Mr. haha. First time dealing with PNC and the worst ss by…</p>
<p>Thanks Teresa for your help, I have already emailed your gal! I sure hope that helps and that I get an answer fast ,, like tomorrow! I have had a difficult time escalating in PNC, I have a title company with many upper contacts and she gave me about 5 or 6 for PNC and I emailed each one of them and now of them responded expect one who said he doesnt work in that area anymore and gave me the 800 number that I had for cs! Geez thanks Mr. haha. First time dealing with PNC and the worst ss by far! Ok, I am gonna think positive for this outcome. I always tell my sellers that. They often have no idea what happens in the trenches to get their short sales done! Thanks to everyone on this thread. I always come here for help and contacts and I send coworkers here also. It is a great forum that ss superstars have set up here, and I really appreciate it!!!!!!!!!!! Happy Sunday </p> Awesome info Jennifer!tag:shortsalesuperstars.com,2012-02-26:3468065:Comment:2155762012-02-26T21:07:21.459ZDonna McClellandhttp://shortsalesuperstars.com/profile/DonnaMcClelland
<p>Awesome info Jennifer!</p>
<p>Awesome info Jennifer!</p> @Jeff: when they blame the MI…tag:shortsalesuperstars.com,2012-02-26:3468065:Comment:2154642012-02-26T18:16:29.853ZJan Sanderlinhttp://shortsalesuperstars.com/profile/JanSanderlin
<p>@Jeff: when they blame the MI company, get a letter from an attorney(well worth the 250.00 cost) Demanding that the MI company perform the task that they were paid to do...DO NOT let the MI company hold your deal hostage...they were paid for a certain risk and they will bluff you to reduce their loss...Don't let them...call their bluff with a threat of legal action...They will mor ethan likely settle with much less fuss. Also, request to speak with the MI adjuster, you will need 3rd party…</p>
<p>@Jeff: when they blame the MI company, get a letter from an attorney(well worth the 250.00 cost) Demanding that the MI company perform the task that they were paid to do...DO NOT let the MI company hold your deal hostage...they were paid for a certain risk and they will bluff you to reduce their loss...Don't let them...call their bluff with a threat of legal action...They will mor ethan likely settle with much less fuss. Also, request to speak with the MI adjuster, you will need 3rd party authorization from your seller exactly like you would for the bank...and yes PNC is not the greatest bank to work with but dont abdicate your seller's power to them ot the MI company! Hope that this helps!</p> Yes...I'm in one now and have…tag:shortsalesuperstars.com,2012-02-26:3468065:Comment:2156472012-02-26T18:09:10.288ZJan Sanderlinhttp://shortsalesuperstars.com/profile/JanSanderlin
<p>Yes...I'm in one now and have completed many in the past. You will need to get everyone on the same page with a 10% payment to the 2nd...PNC knows that if they were in the same position that they would never accept less than 10% in 2nd position...Forget about the shortfall and concentrate on current market value and the loss to both lien holders if this forecloses...Focus on this and you'll more than likely be able to pull the two ends together...It is not uncommon for those large seconds…</p>
<p>Yes...I'm in one now and have completed many in the past. You will need to get everyone on the same page with a 10% payment to the 2nd...PNC knows that if they were in the same position that they would never accept less than 10% in 2nd position...Forget about the shortfall and concentrate on current market value and the loss to both lien holders if this forecloses...Focus on this and you'll more than likely be able to pull the two ends together...It is not uncommon for those large seconds to refuse to cooperate in HAFA shortsale, and in fact be proactive in the beginning and have your sellers decline a HAFA short sale so that you don't waste time being rejected. If the 2nd debt is above 75k you are going to meet with resistance to hit a HAFA home run. When in running into roadblocks, escalate, escalate, escalate...Good luck!</p>