Information

Key Bank

Key Bank is an online lender.

 

Website: https://www.key.com/index.html
Members: 23
Latest Activity: Dec 26, 2013

Contact info

Click the button to hire a Short Sale Agent Superstar in your area

Key Bank Short Sale Package 7-8-13

 

@KeyBank_Help

 

Phone# 866-736-0202 or 866-325-4765

 

FX# 216-370-5819

 

Send Key Bank Short Sale Package to:

FX: 216-370-5819

EM: loss_mitigation@keybank.com

 

Their financial form and documents requested are in the attachments. If you receive a clearer form or any additional information please let me know at brokerbryant@gmail.com

Discussion Forum

1st is with US Bank and the 2nd is with Key Bank

Started by Paula Johnsen Dec 26, 2013. 0 Replies

I am a little Frustrated with Key Bank. Per US Bank who is the first they need an intent to release before they will issue an approval letter. Per Key Bank they will not write an intent to release…Continue

Tags: Mac, Freddie, Key, Bank, US

Key Bank as a second for a pool (wells fargo has the first)

Started by Christina ONeal. Last reply by Dean Ouellette Nov 22, 2011. 5 Replies

Hi Everyone,Anyone have that experience with Key Bank as a second (approved) would be great to know.Thanks,Christina Oneal209-565-1224Continue

Tags: bank, key

Comment Wall

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Comment by Wendy Rulnick on April 26, 2013 at 2:28pm

Thanks, Rachael - good to know!!

Comment by Rachael Babinchak on April 26, 2013 at 2:22pm

Key Bank's idea of "working with" my sellers on their pool loan was to demand $6500 contribution.  No ifs, ands or buts.  I sent everything in just like a 2nd lien.

Comment by Wendy Rulnick on April 25, 2013 at 9:17am

How is Key Bank to work with as a third lien? They have a pool loan on a home.  They told the seller they'd work with him to release his lien. He is current. We are just starting the short sale.

Comment by Rachael Babinchak on August 22, 2012 at 3:54pm

The 1st must give them a letter, or statement in writing what their offered payoff is.  I was able to present the "Approval to Participate" form instead of the actual approval letter, but that was probably from their lack of understanding that it wasn't true approval.  Still working on the settlement.  I've talked to several people along the way, some of these might be faxes.  Try:

800-539-2968

866-325-4765 Risk Operations

216-813-7905 Michael Boburg called from this number (he gave us the letter without waiving deficiency)

Loss Mitigation - Peter Pozako (they're part of the workout dept.)

Workout Dept - Stanford Simmons (sorry no direct #'s for them)

loss_mitigation@keybank.com

Comment by Debbie Tuttle on August 22, 2012 at 3:29pm

I too have a 2nd (Pool) loan SS with Key Bank.  I have the first with B of A (currently negotiating) and even called Key Bank initally to reconfirm that their policy was that they will not even look at a file unless the 1st approval is already secured. They told me not to send anything unless the 1st was already completed and we had a written approval letter "in hand" not verbal to submit with the paperwork.

Will share again, when I get the B of A approval sent to Key Bank and see what happens as far as time lines and terms of their approval.   

Comment by Melinda Speth on August 22, 2012 at 3:01pm

Hello :)  Does anyone have an actual contact at Key Bank?  I have taken over a file mid negotiaton... KB is the 2nd, wanting an Approval Letter from the 1st to move forward.. US Bank (Freddie) is the 1st, wanting Approval from the 2nd to issue theirs.... I need someone who knows what they are doing over at KB to issue the Approval Letter.. any suggestions??

Comment by Rachael Babinchak on August 20, 2012 at 11:04pm

Christina and Justin - did you ever have success with that?  I'm dealing with one now and at mid-escalation.  Have reduced the settlement $13k under what was originally explained, but with that settlement we're asking for waiver of deficiency.  We'll see I guess.

Comment by Justin Berry on October 20, 2011 at 3:06pm

I wanted to share my recent experience with Key Bank in 2nd position.

They absolutely wouldn't budge on reviewing the short sale without the approval from the 1st.  They also required a quick conversation with the borrower to state that all short sales are lien releases only and are not a satisfaction of the debt.  I was nervous because the 1st (BofA) would only allocate 6% of their UPB.

 

Once we got the 1st's approval, we sent it to Key as they required and they originally told me 2 weeks for processing and I knew this would be a tight closing time-frame for our buyer and so I kept pushing.  Needless to say, they just took what they were being offered, and issued a lien release only approval letter in less than 3 days.  They tell me that settlements are only negotiated with the recovery dept (SS dept can only do lien releases) and they prefer to do those negotiations separate and after the short sale has closed.

I can share a redacted approval letter after this closes. 

 

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