Replies to This Discussion

Permalink Reply by Tony Morales on November 9, 2015 at 10:31am

I have had this situation in the past. One reason CHASE could be auditing the file would be to see if there is or was possible fraud on any of the documents submitted for the short sale or the seller's origination documents. Another could be if the buyer has a "distinct" name that they could be checking it with Homeland Security.  But you should be advising them that per CFPB guidelines they have 30 days from the date the complete file was submitted to make a decision on the short sale.

Tony Morales

TM Short Sales Consulting

Permalink Reply by Terry Parrish on November 9, 2015 at 1:08pm

Thank you Tony, reviewing all my notes now to determine when they agreed the file was complete. They asked for things over & over via fax per their request, therefore, we submitted the same documents a few times prior to them opening a file in Equator.

Permalink Reply by David A. Roebuck on November 9, 2015 at 3:04pm

I have also had this happen once with a chase loan. They were checking to ensure all seller submitted documents were completely accurate, as they had some suspicion they were not. We did close on the SS!!

Permalink Reply by Terry Parrish on November 10, 2015 at 5:31am

I just received this message from the Negotiator assigned to the file: "The file has been randomly chosen for an internal audit review. Again, their review takes minimum of 30 days for their review. This isn't anything I have control over. I have requested a rush review, and I will notify you once they send me any response."

I advised of the CFPB rule. Any advise on how I should proceed?

Permalink Reply by Tony Morales on November 10, 2015 at 5:52am

Ask them to give you a specific reason for the  internal audit.Contact a manager or their List Assist Department (which doesn't do a whole lot)  and asked them to directly contact a manager in that internal audit department. State to them that the buyer will not wait 30 days and will walk.