Comment

Comment by AnaLee Schnell on August 23, 2012 at 1:49pm

I have been working a cooperative short sale with b of a since March this year. B of A solicited my client to participate and offered them $5000. I sent the hud in for approval on 8/21 and that same day got an email from b of a on equator telling me to make sure to close by 8/24. Great because I closed 8/23 a day early. I log into equator to upload the closing docs and I see an email stating:

Your loan was service released. This means that Bank of America is no longer able to process the short sale. Please contact the new Servicer for additional details and instructions. The new Servicer is Select Protfolio Servicing, INC 800-258-8602.

 

The day I record I see this message.. and this means that the short sale cannot be finalized. After I've already called my seller to tell him we recorded and he can pick up his $5000 from title tomorrow.. The buyer is ready to move in.. Does anyone know what I can do? The worse part is that the owner and his son are both attorneys. I dont know how to make b of a make this right and honor this short sale that recorded the same day they decided to transfer the loan.. knowing damn well it was suppose to record the next day (but like I said it recorded a day early). Please help. Does anyone have contact info for the higher up? President? VP? Not sure where to even take this.

Comment by Jimena Paridee on August 23, 2012 at 9:40am

@Loreena it's the hardship letter Reason For Default

 

Comment by Loreena Yeo on August 23, 2012 at 9:39am

Does anyone know what RFD letter mean on Equator for BOA?

Comment by Catherine Gheen on August 21, 2012 at 6:45pm

Stephanie, try Richar Zanol he is part of the escalations team

 

 

 

Richard Zanol

Senior Operations Analyst

Home Loans & Insurance

Escalations team

Office: 302.432.5471

Mail Code: DE5-004-09-05

[email protected]

Comment by Catherine Gheen on August 21, 2012 at 6:43pm

Stephanie, do you know how to escalate within Equator?

You hold down on the Control key and click SVP, Team Lead, Asset Manager, VP, ec.

Something is going on with B of A the last couple of weeks, it seems as though the files are frozen in the process?

I too have a file I have been asking since Aug. 2nd and no one responds?

So now I am escalating again, there is a Trustee Sale slated for August 28th and this little girl keeps messaging me to not worry?????

She must think I just started doing this?  So I sent out an email tracking all of the inane responses to the escalations team at B of A.

I keep thinking or they keep telling us things will get smoother, I have yet to see it?

Catherne

Comment by Stephanie Greenberg on August 21, 2012 at 1:31pm

Need help on a Cooperative (NOT) deal with BofA.  Our REDC negotiator has communicated via equator that BofA is not getting back to her so she can not assign any tasks to us. Because they have taken so long, they had to order to new BPO and we had to start from scratch and now a trustee sale is scheduled for Sept.  Anyway to pull it out of Co-op and initiate as HAFA or get it moving again?  Tweeted the help team earlier and am waiting for a call back.

Comment by Kylee Roe on August 18, 2012 at 4:47pm

Karly, please post again when you find out the answer and let us know! Thanks!

Comment by Greg Zajdel on August 18, 2012 at 12:27pm

@Karyl,  it might have been a private investor.GSEs said they will noT lower principal balances. yeap . it's true.it happens. 

Comment by Karyl Moore on August 18, 2012 at 12:08pm

A client told me she received a letter today from Ocwen saying her B of A loan had been transferred to them - and the principal had been reduced by $191,000, and the term was extended to 40 years at a 2% interest rate.  Has anyone heard of this?  Could it possibly be true?  She'll be able to call B of A next week to check it out but I thought I'd check with you all in the meantime.  Thanks!

Comment by Dean E Eshelman, CPA, CDPE, IRES on August 17, 2012 at 10:31am

@Ellen Levy Thankyou. Did not think about Law Schools. We certainly have a few in St Louis.

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