How to Waive Per Diem Charge
I have had to ask for numerous extensions on my Citibank file. Citibank states the per diem penalty can not be waived. The delays in closing are due to the rigid FHA underwriting guidelines and the careless FHA appraiser I was so lucky to have had assigned. The buyer's lender has stated the buyer is unable to pay this fee and have the required amount of reserves in her bank account. The buyer's agent told me the buyer is currently in the hospital. Has anyone had this fee waived? I orginally had it waived with the first extension. I am on my 3rd extension request. The fee will end up being around $1500 if not waived. My fear is that the buyer will not be able to purchase the property anymore because of this fee!
Replies to This Discussion
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Permalink Reply by Kevin - Greenville, SC on
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'Citibank states the per diem penalty can not be waived' - Inaccurate. Just had one waived less than two weeks ago. Escalate the issue.
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Permalink Reply by Jennifer Luna SFR on
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Will do!
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Permalink Reply by Tara Samney on
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I got 3 extensions on one sale recently and price only went up about $100, so yes it can be waived. I forwarded the negotiator a detailed email from the buyer's agent on the delays we were experiencing in FHA for underwriting but how close we were. Citi was amazingly helpful.
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I am going to call the escalation hotline. I told her of the FHA hiccups. I also reminded her of how many showings the property had and how many offers. It would be insane of Citibank to let this deal fall apart.
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UPDATE: SUCCESS!!! I got the fee waived. The new approval letter is good for 30 days. I hope to close this week. =)
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Closed October 31, 2012.
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