THIRD LEVEL NEGOTIATOR-PROBLEM SOLVED-LESSONS FROM THE FRONT LINES
Hi all.
I got approval today, just a few days after posting the query here about third level negotiator not returning emails or calls. I don't know if there was a "trick" to it all, but hope my experience can help you in the future. Don't respond with how bad BofA is, or how you loathe them. We know they are the toughest, and this is part of our job, so share your hints and successes and save your negativity, thanks!
Why my 3rd level/Closer doesn't return mails or calls, I never got the answer to. But I did find several folks who do return communications and they were big helpers! I asked around in my office for names of people they knew at B of A short sales, and lucky to receive a few. This was big!
Once you know the area code and exchange at BofA (972-526-xxxx is one of 'em), I started dialing various random numbers until I found someone who could help me. When my Closing Neg. sent an approval, saying if I had any questions, to contact her manager--and never put that persons name or mail or phone on the letter!--I found out her manager and the next level manager from dialing random numbers.
Faced with a few sale dates, I couldn't get moved, I hung on the phone with Recontrust, who finally gave me my foreclosure tech's name and number, and had that to get the f'closure sale stopped in the nick of time (40 minutes before sale--last month).
And lastly, it took a call this morning to an executive at B of A, who's assistant was none too happy I had found his phone number. BUT, she was polite and helpful--and contacted the now NEW manager of my closing negotiator (didn't even know the players had changed), and we got the ball rolling today.
So, hopefully, this gives you some ideas you can use. After all, this is what this site is for, right? And with REO Trans, hopefully things will be smoother. And also, dont' change contract terms if you can help it. Knew this going in, but we had a simple name change and the bank saw that as a new offer, and had started the process over. Good luck out there.
I got approval today, just a few days after posting the query here about third level negotiator not returning emails or calls. I don't know if there was a "trick" to it all, but hope my experience can help you in the future. Don't respond with how bad BofA is, or how you loathe them. We know they are the toughest, and this is part of our job, so share your hints and successes and save your negativity, thanks!
Why my 3rd level/Closer doesn't return mails or calls, I never got the answer to. But I did find several folks who do return communications and they were big helpers! I asked around in my office for names of people they knew at B of A short sales, and lucky to receive a few. This was big!
Once you know the area code and exchange at BofA (972-526-xxxx is one of 'em), I started dialing various random numbers until I found someone who could help me. When my Closing Neg. sent an approval, saying if I had any questions, to contact her manager--and never put that persons name or mail or phone on the letter!--I found out her manager and the next level manager from dialing random numbers.
Faced with a few sale dates, I couldn't get moved, I hung on the phone with Recontrust, who finally gave me my foreclosure tech's name and number, and had that to get the f'closure sale stopped in the nick of time (40 minutes before sale--last month).
And lastly, it took a call this morning to an executive at B of A, who's assistant was none too happy I had found his phone number. BUT, she was polite and helpful--and contacted the now NEW manager of my closing negotiator (didn't even know the players had changed), and we got the ball rolling today.
So, hopefully, this gives you some ideas you can use. After all, this is what this site is for, right? And with REO Trans, hopefully things will be smoother. And also, dont' change contract terms if you can help it. Knew this going in, but we had a simple name change and the bank saw that as a new offer, and had started the process over. Good luck out there.
Replies to This Discussion
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Permalink Reply by Kent Dills on
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Kylee,
Good for you and your client. You got things done!!! ;-)
But, I've got to disagree with your noble point of not complaining on this board/group. Here's why I say this - I'm sure you'd be the first to admit that it took you some hard work (dialing random #'s, etc.) and also some luck to get your task accomplished.
Wouldn't it have just been easier on all concerned if you didn't need the luck nor have to work so hard to accomplish the same thing? If B of A would fix their broken processes (including their training programs) then they could actually help themselves help us. Afterall, aren't we helping them (in spite of themselves it sometimes seems)?
Eventually, some caring professionals at B of A will join this board/group - in an effort to improve themselves and those that work for them - and they'll need to read about those things that they can influence in a positive way. If we discuss the good, the bad, and the ugly - then they'll have some low hanging (and not so low hanging) fruit they can work with.
Two of the easiest things to improve that would eliminate LARGE ROADBLOCKS in the current process (IMHO) would be:
1. All employees being required to include the name of their immediate supervisor in their email signature.
2. All negotiators should be required to return all emails (or voice msgs) within 48 hours.
Can anyone else think of some easy changes that could be made that would provide large improvement in process or policy? I'd be more than happy to collect up our suggestions for improvement and pass it on to someone/anyone I could find at B of A who seemed like they had at least some concern for improving their business and had the "juice" to do something about it.
Bottom line: Some folks' complaining is other folks' constructive criticism! ;-) -
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Permalink Reply by Kylee Roe on
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Kent,
Okay. I give. You are correct. Constructive criticism is perfect, and your suggestions were great. BUT......some folks just like to moan and complain, and we can all do without that. Maybe I should say "be part of the solution", not add to the problem.
I think the negotiators should be required to contact us back, even if it's a simple "I've received your request and will get back to you in (time frame)." And not use an automated reply for that either! One of the biggest challenges--and I told them this everytime I had a negotiator on the phone these past two weeks--is just NOT HEARING FROM ANYONE! Am I in process? Am I lost between the cracks? Did you even get my email? Communication would be super helpful.
There are investors who won't okay line items (like past due utilities), there are some who won't delay sales after a few delays. Can't do much about these things for now, but a return call or mail is only courteous and professional.
And as an additional note, the FHA/HUD loans that B of A has, are more difficult for them (per one negotiator I spoke with) so if an agent is dealing with one of these, expect a slower ride.
Thanks for the input Kent.
K -
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Permalink Reply by Katerina Gasset on
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Kylee- That is great! You do what you have to do. We have stood by fax machines, faxing over and over again until the bank calls us to ask us to stop faxing! Then we say, SO you do have our package? ( after we have been told they don't have our package for days on end:)
I agree with Kent though, this is the place to rant and vent- it is not healthy to keep it all inside and you need a supportive and understanding group in which to vent.
I also think that since this is a public forum that the public relations departments at the different lenders may come to read what we are going through and try to make the needed changes to their processing departments. You should not have to run through random phone numbers to finally reach someone who will help you. That is not customer service. And it can be done efficiently and better.
Any file we get into Equator, we make sure we get a supervisor to get that file out of there. Until they can get the BofA employees trained, Equator is no better than the normal process. -
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Katerina,
I am going to email all the negotiators I talked to or emailed, and tell them about this website!! Grass root to viral in days! Lol.
K -
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Permalink Reply by Cindy Greenya on
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How long did it take you to get an approval after the 3rd level negotiator was assigned?
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Cindy,
Seems like at B of A the third level negotiator is your final stop and things move quick from there--or at least on this file. So the first and second level guy was the same, and he sent me approval letter and note saying the third level negotiator would be assigned and contact me shortly. About 10 days after that, I received contact from her. We started in October (so, not done on Equator), and should close on Wed. (1-20-10). The only problem with this file was a name change on the contract (took mom and dad off, added son as sole buyer)--this put the B of A system in a tailspin, but can't totally blame them, as it happened on the buyer side. Did get it worked out though.
K
Cindy Greenya said:How long did it take you to get an approval after the 3rd level negotiator was assigned? -
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