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Permalink Reply by Glenn Batten on May 28, 2011 at 7:40am

Melina, I have a Fannie Mae HAFA with LBPS, 2nd with Green Tree.  I  thought I had everything worked out with Green Tree for payoff at 6% of principal balance.  Then another negotiator came into picture and said they could not  release the lien because it had already been charged off.  I asked for a copy of their policy statement and/or a copy of the HAFA guidelines backing up this claim.   The new negotiator put me on hold, came back a few minutes later and said they would go forward.  He asked for additional documents which had been supplied only days earlier.  I sent them.   Then they had to do a BPO.  Why?  i was told they would issue lien release and agree to the payoff amount as soon as the BPO was back.  Waited 10 days,  BPO comes back and negotiator goes on two day leave.  I talk with his supervisor who first said Green Tree doesn't do HAFAs.  I replied that Green Tree is on the participants list.  He denied it so I faxed a copy of the list.  He came back negotiated some more over the payoff.  Finally was told the release and payoff letter would be sent.  That was last Tuesday.  The closing was already set up to meet the LBPS deadline.  The Green Tree information didn't come, I kept calling and faxing all day yesterday.  They kept promising and I kept waiting.  I was told that the supervisor had to sign off and that he has a heavy workload.  Now it is Memorial Day Weekend.  For some reason I don't believe that supervisor is in his office in Tempe taking care of his workload.  The buyer's loan commitment from BofA expires Tuesday.   Lesson: Be Careful.  They won't put anything in writing.  The only course of action I see is to keep pushing on Green Tree.  Challenge their statements. Put every conversation with them in a memo and send them a copy.  I will let you know what happens.

 

Glenn Batten

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