I am having some serious issues with a BOA short sale. I now know who the investor is (bank of new york-mellon). Does anyone out there have experience escalating at the investor level?
also, anyone familier with BNY-mellon guidelines on shorts?
Any help is much appreciated.
Danny
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Danny,
Not an expert on this, by any means...But....
I believe this means that BoNY is the trustee for the bondholders of the trust into which this loan was securtized. Hence, this will be determined by the specific Pooling and Servicing Agreement (PSA) associated with the trust. I'm not sure the degree of consistency of the delegated authorization from Trust to Servicer across different PSAs. And, I don't think the agreement is public, in general. I think the Fannie PSA is public, and I would think private securitization followed Fannie.
Google: bank new york pooling servicing agreement trustee
But, be prepared to have a strong stomach....
I have a Fannie sample, I believe, if you want it.
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