SPS Short Sale Department Issues on Closing

Help!we signed loan docs by SS approval deadline on Mar 28th,but it was too late to fund Funds are in Escrow.Now SPS is refusing to let us record; want to start over with new BPO, when we have the buyers licensed APPRAISAL.

US Bank is investor:they approved the sale will get exactly the same $$ as previously approved.But SPS won't give an updated approval letter so we can record.Help? Ombudsman service never answers

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Comment by Brian Avery on April 11, 2014 at 3:23pm

Sounds as if the BPO expired. SPS is not authorized by U.S. Bank to grant an extension unless there is a valid BPO. It is their servicing requirement to U.S. Bank. Get the new BPO done and they may issues an extension quickly if the value range is the same or similar.

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