What is going on with Chase????????

What is the matter with Chase.  My seller is on unemployment and her husband is on social security disability.  I am thinking this is a no brainer as far as income verification goes. Disability letter & unemployment letter. Then why would Chase INSIST that I provide pay-stubs with verification of income and taxes being being taken out.  Mmmmmm.  It only took me a matter of 13 emails for the negotiator to understand that, MY sellers are unemployed and they do not pay taxes on their disability & unemployment.  She tried to tell me that everyone in America that gets a paycheck, has taxes taken out.  Really.......  She finally gets it.....   What are we dealing with here.

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Permalink Reply by Linda Papallo 860 221-8600 on May 5, 2011 at 7:30am

 

Mary Ann,

I understand your frustration! Have you considered adding a page written in a bold sharpie marker that states, neither homeowner is employed, therefore  no pay stubs are available. Present this to your loss mitigator and it should be self explaintory. I know the last thing we need is an additional form or piece of paper to add to our short sale packages but this is apparently working for some agents. It should be placed in your initial short sale package.

Best of luck with your transaction.

Permalink Reply by Rick Trono on May 6, 2011 at 11:18am
Harry, your reply...Too funny made my day!

Harry Clay said:

Your negotiator is probably just repeating what Burger King management told her every day for the last five years, right up until her recent career change.

Tell her you want it your way.

Permalink Reply by Kimberley Kelly on May 6, 2011 at 12:19pm
Chase to me is one of the worst.  I voted for them for Worst Lender.  They are inept, nobody knows who's doing what, their BPO's come in notoriously high, they turn down offer after offfer on the same property as being too low.  Painful.  B of A has improved the most in the past year as far as my Lenders go..
Permalink Reply by MaryAnn Dempsey on May 6, 2011 at 3:57pm

Hopefully they will all come to their senses and and let the "Experts" do our job without having to struggle with banks with negotiators who DO NOT know the market.

 

Permalink Reply by Jonnie Kamsch on May 8, 2011 at 2:48am


Harry Clay said:

Your negotiator is probably just repeating what Burger King management told her every day for the last five years, right up until her recent career change.

Tell her you want it your way. 

You hit the nail right on the head !!

Permalink Reply by Len McGuirk on May 8, 2011 at 7:15pm

Chase has got to be one of the worst lenders to handle short sales with. Someone mentioned about their BPO's coming in way too high all the time. That is absolutely CORRECT! I honestly think they add 20% to their BPO values, then they try and get the offer prices increased to those amounts constantly. It makes no sense. I have had to go back and forth with Chase regarding values so many times to get my Chase short sales approved and closed.

Most of their negotiators have no clue how to handle financial documents either. I am sure we have all had to fax in bank statements more than 5 times on some files. If they organize their process a bit better, our financials wouldn't be outdated so many times and we would all have less work to do.

The Burger King reply made me laugh too. It is such a high rotation job at these banks, it's ridiculous!

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