Comment

Comment by Kylee Roe on February 9, 2010 at 8:53am

Ginny, here's another go fish idea.....If you know the toll free area code (first three #'s), and the exchange (second three #'s) of the phone call, just start dialing random extension numbers (last four). on my third call, I got a B of A loan officer in Texas, who gave me the names, numbers, and emails of group supervisor and manager. I also wound up calling some company other than B of A, but it was fun!!! And if you keep hitting B of A extensions with the random dial, you will see a pattern in the numbers.

Comment by Anna Mackey SDHS on February 9, 2010 at 8:38am

Ginny, they are going to tell you "I am sorry, maam, I am not allowed to provide that info" or "I do not have that info"... you just have to be persistent and think out of the box. Call a branch and ask for a number for a corporate, call corporate and ask who the VP of operations for short sales is etc. etc. etc.

Go fish!

Comment by Katerina Gasset on February 9, 2010 at 7:12am

You call the 800 # to get her supervisor's name and extension or email.
Just get her name. First and last and ask if she uses an initial. All BofA emails follow the same format. Find out who the VP is over her division- is it CA or TX division, etc. You need to go on a fishing expedition-

Comment by Katerina Gasset on February 9, 2010 at 5:51am

Officially they do say that files can not violate their public policy. That is a double edged sword. What that creates is a negotiator who then comes up on their 30 days who can not finish the file and moves it to a new negotiator so she/he does not violate the public policy. On the subbing the buyers the excec told us that when they sub a buyer it still remains in the same time frame of that public policy and then they would be violating the policy if more time is needed for anything additional. It makes no sense and I told them so, Nestor has told them many times to change this policy.

Comment by Anna Mackey SDHS on February 9, 2010 at 5:26am

Katerina, I am with you as always! I am curious to know what they actually tell you when you ask them that question? What do they officially give as a reason why they do this?

Comment by Katerina Gasset on February 9, 2010 at 5:20am

Ginny- Anna is right. You have to go up the chain of command.
Other lenders sub out buyers and this stupid rule from BofA is the most idiotic rule ever. I go over this with their execs all the time, asking, what in the world do you have to do with the buyer? You are NOT doing the buyers loan! You are not representing the buyer! Your customer is the seller! What are you thinking? That you are still Countrywide doing the subprime crap you were doing before? Where is this rule coming from! IT is a crock of crap that you are more concerned with who the buyer is than what your net is! How would your investors like to know- that you don't care about what they are netting????? HOGWASH!!!!
I hope this new guy they hired gets rid of that stupid rule!

I have had negotiators at BofA just set the file aside on their desk, take it out of the system and the re-enter it with the new buyer but we have to promise not to tell anyone or they may get fired! They get points deducted off of their performance reports it the file stays in the system too long. Their public policy dictates those time frames so that is the real reason they won't sub buyers!

Comment by Anna Mackey SDHS on February 9, 2010 at 4:49am

Ginny,

Believe it! If you think of it, it is kind-a funny... well, at least it would be funny if it wasn't so sad. This is what they do and there is no good explanation for it, unless you are willing to venture into the realm of "immoral and wicked".

What you need to do is escalate this file to a VP or higher. Outline all the history and the numbers, be very brief and polite, tell them the new buyer will not wait past 15 days for new approval, tell them the next offer will be $XX amount less, and ask for help. Then start sending that letter via email up the chain, all the way to the CEO if you have to.

Comment by Kent Dills on February 3, 2010 at 4:43am

Kay, it depends on the net their getting. If the net is good, they'll be more flexible on what they pay, and vice-versa!

Comment by Kay VanKampen on February 3, 2010 at 4:38am

Does Bank of American pay Home owners association dues? I know they will not pay liens.

Comment by Ryan Diedrich on January 26, 2010 at 8:57am

i have to say, me experience with BOA has been a lot better in the past few weeks...hopefully this is sign of good things to come. This is my 21st short sale with them in the past 14 months and in the past 2 weeks they have been more friendly and helpful...hope every one else is having the same experience!

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