"I have had the same experiences. I cannot be put through to the short sale department.
I have exchanged e-mails with Margaret.Peres@owb.com but she is responsive not helpful. At least it is a person and not a general…"
"Agreed.....the time it will take to complete the 203k loan will likely exceed the timeframe allowed to close.
We have been launching an initiative that could possibly help open up 203k loans as an option on short sales.
Basically, ordereing up front…"
"Joshua, be careful as that could go both ways. First, your client can possibly now afford the home so has no real hardship and no need for a short sale anymore. Or, like us, have your short sale denied because our client cashed out his $10k…"
"I would assume you would have to provide updated bank statements again unless your at approval stage. So, if the homeowner does not want the lender to see it and be required to make a contribution, they may want to hold on to the check."
I have a file I am in process of submitting for a short sale. My client just received a large personal injury settlement. I have already provided bank statements; however, if I had to provide updated statements, it will show it. My client would like to deposit check. Any advice?See More
"AMS is definitely behind in assigning "asset managers" and getting some things done. BOA has a big disconnect via Equator to UTLS/LRC/AMS. You need to call AMS to escalate, ask, etc. Almost anything you do with Equator…"
"The negotiator listed in Equator is not your negotiator, forget about what you are use too with traditional BofA, what you need to do is call them early, I call at 6:30 am Cali time, they are in New York, ask to speak to a negotiator that is…"
My client received a HAFA Short Sale letter from AMS indicating the price they would accept. My clients have found a buyer and executed a purchase and sales agreement. Loan assigned to me in Equator but negotiator isn't assigning tasks. I received one task: to upload 3rd party authorization, which was completed 2 weeks ago. Without a task to upload purchase and sales agreement, I cannot upload it. I have faxed sales agreement. Left a couple voicemails and e-mails with negotiatior. I have…See More
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