US Bank HAFA Deal - How Much Time Does Investor Get for Review?

I am a CDPE and I remember in the course they discussed that under HAFA the bank has to do certain things within a certain time frame.  How enforceable is that and what is the timeframe once BPO has been done for investor review?  I have lost 3 buyers on this house now because US Bank is SOOOOO SLOOOOW.  Help!  What can I do to speed up the investor?

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Permalink Reply by Smitty on October 25, 2011 at 6:36am

HAFA is just a set of guidelines unfortunately.  It's not law.  To my knowledge the investor calls the shots and the servicer can just change the HAFA rules as they please.  I would just keep squaking.  See if you can get your negotiator to give you a timeline and just keep pushing. 

 

I wish I had better advice.  Other than calling the treasury, I don't really see anyone having any options with HAFA.

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