I am the buyer's agent on a Metlife short sale for the last 7.5 months. The listing agent has had several negotiator changes and lost files. They've completed 3 BPO's one a full on appraisal. There was an FC date instituted on the file but the agent says that Metlife swears there isn't one at all.
I showed her the trustee's page where it reflected the FC, auction date/time. She sent on and Metlife still swears no FC. Now the file is lost again. My buyer has been made aware of every hurdle she faced but at this point.
I have negotiated quite a few files but never one with Metlife. I'm confused how an organization could be so incompetent and pointless. I'm feeling that there is a possibility that the "lost" files is just a ruse to have the house sold in FC thinking it will garner more monies.
To add insult to injury, the agent told me last week that Met have changed the locks. When I stated that I think this is due to the FC, she said Met said no, there is no FC.
Is there still a viable chance that this short sale will go through? Is there anything I can do to help move this along as a buyer's agent? Since I've never worked a Metlife, all I can do is take this with a grain of salt and believe that Met is by far the worst in the industry.
Tags:
Call corporate HQ in New York - not MetLife loans (they are merely around to wrap up the debris left behind, since they are out of the lending biz) but MetLife, the whole enchilada, the parent company. 212-578-2211. Ask for Steven Kandarian's office (start at the top!). Be professional when you call. You will get to his administrative assistant. Explain to her that you have a buyer who is trying to clean up one of their failed loans by completing a short sale, that you have been working on this for almost eight months, and ask her for the names and numbers of people who can help you (if anyone is left) in the lending division -- and watch what happens next.
After 10 months of messing around with them, this was the final thing I tried, and we got the file approved and clear to close in less than 10 days.
One more thing to be aware of...if you or the seller's agent get through and get this to the closing table, MetLife would not accept wired funds from the title company for the loan payoff.
We had to have the title company issue a check for the payoff and overnight it to them - this unusual demand almost derailed the closing. In this day and age, everyone is looking for wired funds vs. paper. It was really odd, and MetLife would not bend on this demand.
1-212-578-2211
thanks Kim!!!
Hi Helena,
Were you able to get this file moved? I am freaking out right now because I am the listing agent dealing with Metlife. We were given the approval yesterday but told that we HAD to close by Sept 4th because this property is going to FC and they will not postpone to allow us to close!!!!!! That gives us 3 weeks. This is not a cash deal. The lender has already told me it's impossible. Hoping you had a break through or could offer me any other suggestions?
Helena,
What happened with your MetLife short sale. Did you have any luck with the corporate office? Just wondering as I am now trying to navigage the the same murky MetLife waters!
-Donna
if this is an FHA loan you can have the listing agent call HUD investigations - 877-622-8525
the listing agent will have to call metlife and get the FHA case number first because that is what they use to reference the loan. This is a little trick I found yesterday and have already implemented. MetLife is afraid of HUD, my file is now moving after nothing happening since March 13th
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