Comment

Comment by Linda Cadotte on May 16, 2013 at 9:13am

Well, I am doing my first SS with US Bank.  So far, it has been like working with Larry, Curley and Moe.  They are so proud to assign you one contact person and that this person contacts the agent periodically.  Unfortunately, the status update is always that there has been no update!  I googled numerous persons with US Bank.  Most did not return my call.  Then, I called the office of one of the VP's.  Someone there was able to look up numbers for supervisors of my assigned contact and another VP for SS.  After leaving a few more VM's, I got a call back.  That person did speak with critical folks to get some action.  that was yesterday.  I have kept those numbers to call again if there is a delay.  My file was sent to foreclosure while I am trying desperately to get them to close it to loan mod, open to SS and review the good purchase contract.  This bank does not have systems in place to escalate files or deal with non-action. In fact, they have a process that disallows any intervention.  If you have a specific file with an offer and need a number to call, let me know.  Maybe the VP over SS needs to hear all this.

Comment by Ellen Dittman on April 8, 2013 at 9:55am

Need advice and input please! I just recieved an email from my contact at US Bank who stated that the file is in underwriting (since 3/20/13) and in his email said "sometimes files are in underwriting for months". The short history of this file is below. Has anyone run into this with them?

This is a cash offer, offer was submitted mid November, and mid January I recieved an email from them that the file was going to underwriting that following week. But then in early March they countered the buyers offer. The buyer complied and the contract was amended. Then in mid March it finally went to :"underwriting". 

Comment by Stephanie Hart CA 310-930-2342 on February 25, 2013 at 9:08am

Anyone have success with getting US bank to accept less than 10% on large HELOC? If so please e-mail me [email protected] or message me here! Thanks!

Comment by Barbara Singleterry on February 5, 2013 at 3:57am

Update and suggestions needed on my USBank SS.  FHA SS, USBank appraisal at $230,000.00.  Accepted purchase price of $223K.  Everybody happy, buyer's appraisal comes in at $218K, which was the original offer prior to USBank counter.  USB says they cannot use an outside appraisal for value, will not drop net needed to close.  We have already dropped commissions to accommodate seller paid closing costs.  How do I dispute USB appraisal to have value lowered to meet buyer's FHA appraisal?  Any suggestions?

Comment by Christopher Dudley on January 22, 2013 at 8:32am

Help with US Bank.  US Bank(1st) will not order BPO until they receive intent to release from Chase (2nd) for Freddie Mac guideline $6000.  Took it up to supervisors at  Chase and they will not provide any document other than an approval letter which will not be given until they see the approval letter from US Bank.  By the way, this is in the recovery department for both banks.  How can i get US Bank to move forward, order a BPO/Appraisal, and process?   At a stalemate and need ideas or solutions to make this come together.

Comment by Nancy Green on January 6, 2013 at 7:31am

Submitted offer in October, kicked out twice for lacking listing agreement that was included in package and verified both times as being received. File kicked out and closed in December because relationship manager missed their 10 day window to request review of docs on file that were once again overlooked. Resubmitted entire package, now in underwriting, 30-60 day timeline for review. So far 80 days just to forward complete package to underwriting, relationship managers totally inept, US Bank is a mess.

Comment by Helena Kaucheck on January 3, 2013 at 9:52am

In an earlier comment I posted, I noted that the entire process with US bank was unbelievable and extremely frustrating.  We lost the deal and US Bank went through several layers of excuses and/or "decisions" ultimately forcing the seller out of the process.  Horrible Horrible Horrible.  We have letters stating one decision but verbals provided to Fannie Mae on a different decision path al together.  No matter what we did or provided was ever good enough and we had multiple people closing the file for reasons that were not supportable (mostly due to non receipt of paperwork we provided or due to paperwork provided being reviewed generically).  I have to say that as far as any servicer is concerned US Bank takes the prize for being the most inept. Further, the Fannie/Freddie rules of shortening up short sale timelines are completely lost amongst their processes.  You should consider having Fannie/Freddie step in (that is if that is your investor).  Seems that their intervention may provide some quicker responses than ones I'm able to with the anyone else at US Bank.  BTW, be prepared....The old adage "be careful what you wish for" seems to be true with US Bank.  Every step is a hurdle and the "underwriter" is by far the most unnerving section. 

Comment by Tyra General on January 3, 2013 at 9:28am

Thanks Barbara! I appreciate you providing those details. 

Comment by Tyra General on January 3, 2013 at 9:12am

Hi Stephanie, I've spoken with my Relationship Manager. However, a bulk of the time has been spent in the review phase, during which they would take weeks to review new documents, etc. It's been about 3 months now. They supposedly are now waiting for it to go to the underwriting team. I just hope it doesn't take another month for them to order the BPO. My relationship manager said the processing team is about 2 weeks behind.

Comment by Barbara Singleterry on January 3, 2013 at 9:02am

Hi Tyra, it took 6 months and a complaint to finally get the information pushed through.  Once I submitted my complaint - specifically that this was an FHA loan and FHA timelines had not been followed- things seemed to speed up  They sent a letter not admitting anything, however, within 1 week of receiving the letter, a BPO was ordered.  I now have an approved sale amount (within appraised value, more than offered) and the buyer is able to meet the amount needed.  We are going forward...

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