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Comment by Forth Hoyt on June 29, 2010 at 8:22am

URGENT HELP NEEDED!!!
I have an approval letter from Citi (2nd lender) that expired on the 26th, I knew it was it was expiring, I talked to my negotiator and was promised (silly me) a 1 day turn around for a new letter as soon as I faxed her the updated approval letter on the 1st. I faxed it to her on Monday morning and still have not heard from her. I called a number in the recovery dept (thanks Ben) and he was nice and helpful up until today. I have to have this letter today, or this whole deal falls apart. The buyers lender made the approval letters a funding condition, both the buyer and seller have signed doc's, this deal is ready to close minus the (promised updated approval letter on the 2nd. Any advice or contacts would be greatly appreciated.

Comment by Kyle Souza on June 29, 2010 at 6:18am

Glad to help. It's funny how different things move when congressman communicate on behalf of their constituents.

Comment by Deborah McGraw-McCormick on June 29, 2010 at 6:12am

OKAY...heard from the negotiator today! new one actually, the one I had has been removed from this file. Okay, we will see....no approval yet. but at least I have a person to communicate with....contacted local congressmens office...great advice!!!! Thanks.......soooooooo much KYLE. :)

Comment by The Trent on June 26, 2010 at 3:33am

I am looking for an SVP or AVP contact in Loss mitigation at CITI.

I am new to this site and just viewed the whole CITI forum and found nothing posted. Is anyone willing to provide this info to me? I will not divulge the source nor will I burn any bridges, I just need to get the file in the hands of a decision maker.

Thanks

Comment by The Trent on June 26, 2010 at 3:26am

Tammy,

Let them know that the borrower has consulted with an attorney and have been advised to walk away if the deficiency verbiage is not removed from the approval.
Then be quite wait about a week. That should bring them back to the table on better terms. If not, CC the CEO or CFO in an email, or contact an SVP/AVP in the loss mitigation dept. and reiterate your clients stance. They DO NOT want to foreclose. If it's the second they will get nothing!

Comment by The Trent on June 26, 2010 at 3:21am

CITI 1st & 2nd SS approved in 46 days from submission, and that is with the processor jerking around a bit.

The problem is they are cutting commission to 5% & cutting seller closing cost concessions, when the numbers still work for concessions & 6% commission.

I need a good SVP/AVP loss mit contact to escalate to, please.

Comment by Kyle Souza on June 25, 2010 at 7:27am

Had a client call his congressman and they contacted Citi, had an approval the next day. As i couldn't get any response from Citi either.

Comment by Deborah McGraw-McCormick on June 25, 2010 at 7:11am

Okay folks......Citi is like NOT Answering????? working on a deal. Has been transferred twice already during this deal. after a HUD messup, finally got it straight, negotiator told me two weeks ago that we should have an approval by the end of the week. that was two weeks ago. Then...I began emailing this negotiator, and never got a response, then I get an out of office emial , until the 22nd. have been emailing him and another contact, plus called one of your referrals, Ben, and nothing yet!!!! I mean come on,,,,I realize they are possibly swamped but at least advise that you are....and its still pending....any solutions???? I left a message that went like this. Identified myself, gave the loan # and the negotiators name, and said would someone please let me know what is happening with this file!!!! among other things, but I wasnt rude or unprofessional...any advice???? thanks you all are great here!!!

Comment by Bryant Tutas on June 24, 2010 at 1:13pm

Citi short sale. From listing to closing......35 days!!
http://www.shortsalesuperstars.com/profiles/blogs/citi-mortgage-sho...

Comment by mimi cox on June 22, 2010 at 6:02am

Ben, you always have such great information. I would very much appreciate your help on one of my Citi short sales. First time I have had a problem with them! Can never speak with the negotiator directly - her voice mail is always full. I am not sure how competent she is because her grammar and writing is like a second grader. Enough! I just received the approval letter. It did not include any payoff to the 2nd (Ocwen - don't you love it), commissions were cut to 5%, and the net was higher than the HUD. I need to escalate and have not had any luck yet. Any names/numbers would be very much appreciated!

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