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Check your private messages, I just sent an escalation contact. I also suggest going to Jigsaw.com and copying every 5/3 executive that you can find.....
I just took your advice and went to jigsaw.com. It is now data.com according to google. There are so many VPs and Assistant VPs, how do you narrow it down to short sales/loss mitigation VPs.
I dont care what department they are in, VPs and Assistant VPs do not like getting emails because their employees are not doing their job. Look at the dates on the right and make sure that the positions are fairly current and send an email copying every single executive level person and the BOD that you can possibly find. Trust me it works, use it at least once per week with great success. Did you email the contact I sent you?
I just received a denial for 5/3 on a second. B of A approved, giving them the HAFA amount, but it was not good enough for them. They wanted a defiiciency balance to continue, which is no longer allowed by HAFA II rules. Lienholder must release and not collect. It is now going to foreclosure, and the client has to deal with a bankruptcy to discharge the second. When 5/3 was told about the bankruptcy, they didn't seem to care and I received no response to the discussion that they would be wiped out. Their response was sort of "we'll take our chances". B of A was losing approx $78,000 and 5/3 was losing $27,000. Now we have a home going into foreclosure, and because of the 2nd we typically won't have a deed in lieu accepted by B of A. So much for the spirit of the law. FHFA should have thought this through when the instituted the new rules as of November 1, 2012. Additional lienholders are not allowed, even if the seller agrees, to sign a deficiency note, even at 0% interest.
I was unable to find any help at 5/3. They forced 4 short sales of mine into foreclosure. All had contracts on them long befroe the sheriff sale date. Upper management and vice president would not do a thing. I even filed a complaint with the Ohio Attorney General and the Ohio Mortgage Brokers Association. The responses I received were from administrative people saying that 5/3 did not do anything illegal. They missed the whole point.
If you find someone, please let me know. Hopefully, I will not need to deal with 5/3 in the future. By the way, These were the only short sales I have done that went to sheriff sale. All others have had successful outcomes. I've done about 30 transactions so far this year.
I will go back thru some notes, I have only done one 5/3 short sale and escalated it and got it approved. Have you tried finding contacts at www.jigsaw.com? NEVER EVER say that there is no way to escalate!
HI Jeff,
I was wondering if I could get your 5/3rd escalation contact? I have a file that needs to close this month and I am in desperate need of a contact. I appreciate it!
Thank you so much. You must not have been around November 2011 - March 2012. I begged and pleaded for some help from all the short sale groups I am involved in. No one had any answers. This is great information for the future.
I am one of the moderators, I was here... I got this contact in May and got the short sale approved in less than a week when he got involved.
Hi Joan,
Did you ever find an escalation contact at Fifth Third? If so, I am in desperate need. Fifth Third is the only bank I have ever dealt with where it is impossible to escalate a file.
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