Comment

Comment by Carolyn Triebold, MS on September 7, 2012 at 3:09am

We also had a lender question our approval letter from B of A since the "font type" on the letter from the first didn't match the font type from the second.  At first, we felt that it was a pain to have to go to the lengths of making sure that the letters were real, but fact is, it is just another step we all have to take to ensure integrity during this process.  Unfortunately the "bogus" letters are coming from crooks, since much of the info on these letters can be obtained via public records and one bank statement.  Listing agents know they are not bogus if they have been working with the negotiator, but as a buyers agent, it does benefit us to have the verification.  

Comment by Wendy Smith on September 7, 2012 at 2:49am

Where would fraudulent approval letters come from?  the approval letters are very specific, who but the servicer would have that info?  

Comment by Wendy Smith on September 7, 2012 at 2:47am

@Kevin - emailing you now

Comment by Chad Gelsinger on September 7, 2012 at 12:59am

Please be aware, there have been fraudulent BOA approval letters being sent out. We received a notice from our Title Insurance Company, First American advising us about this issue. We have been advised to contact Bank Of America to confirm all approval letters are legitimate and also to verify the account numbers we are sending the payoff funds to. The attorney is doing his due diligence, in my opinion. [email protected]

Comment by Kevin - Greenville, SC on September 6, 2012 at 3:38pm

Please contact me if you have recently closed (within the last 18 months) or are currently working with a Seller on a Bank of America FHA Pre-Foreclosure Sale.

[email protected]

Comment by Anna Williamson on September 6, 2012 at 1:35pm

sorry for the misspelling. wowee!

Comment by Anna Williamson on September 6, 2012 at 1:32pm

Hi Sheila> I agree.Since acct # ans routing number are same as on orig appvl letter, that should suffice. Problem is, they send the email in resonse to atty's request for  appvl letter for the 2nd> Atty is not confortaable with that.  I am baffled though as to why BofA will not generate a letter for the 2nd.

As an option, I senta Dm to Twiiter Team asking  that listing agent get us a Payoff Letter for the 2nd, since she is 3rd party authorized. BofA is going to fax that. Thanks

Comment by Sheila Vardakis on September 6, 2012 at 11:02am

Anna there is no reason that the buyers lender should be concerned.  Both loans are addressed with loan numbers and amounts to be paid to each specifically.  I had a deal with BOA that had three loans and the 3rd was a HELOC  and got the first two on one letter and third on separate letter. 

 

BOA can easily provide you with a separate letter too so tell them that it is what will hold up the deal. 

Comment by Anna Williamson on September 6, 2012 at 10:57am

ok here we go The instructions were copied and pasted into an email by listing Agent. BUYERS'S Closing Atty will not accept these revised instructions like this as too much room for frau; particularly since BofA refused to give up an appvl letter for the 2nd BofA Loan.  BofA, the Twitter Team and the Closing Neg do not understand why. Here is what was sent  to satisfy appvl of 2nd lein. It was send just like this to my email; which I forwarded to CA. Can anyomne help with this? Thanks so much> See below:

Closing Instructions:

 Bank of America Home Loans approves the Preliminary HUD1 dated 9/10/2012 with net proceeds of at least $69206.24 to Bank of America Home loan number 871756368 and $8500.00 to Bank of America Home loan number 870892291 . Buyers to be TONI D WILLIAMSONwith purchase price of $XXXXXX. Please be certain to reference our Bank of America Home loan number in all correspondence. ***Business Partners*** Please ensure that you are completing the Upload Final Certified Docs task in Equator within 48 hours of close of escrow. This task requires you to upload the following documents: the Certified Final HUD, the signed Approval letter and the signed Unearned Insurance Premium Letter (if applicable). If there are other liens, you are responsible to receive their approval to release their lien interest and that they will not pursue the borrower for the deficiency balance. If you receive the written commitment, you may close, which then implicitly confirms to Bank of America that you received the commitment. If the documents and funding wire are not received within 2 business days after the closing, per diem will be charged per the approval instructions. ***Please ensure all funds are wired to the following account. Please do not deviate from these wire instructions, as it will cause a delay in processing*** *******Wire Information******  I left out the rest

Comment by Michael Hayley on September 6, 2012 at 7:42am

Anna, dont you love this site? 

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