I have a client who has been trying to get her home B of A HAFA approved for the past 60 days. She started the process on January 6, 2011. She contacted the short sale department to get approval for a HAFA short sale process. Was transferred to AMS Servicing and told that she passed the HAFA checklist. Then had to await "state review." On January 25 she spoke with Rishada at AMS Servicing who told her which documents she needed to submit for HAFA short sale approval. HAFA documents were submitted and uploaded on February 16. File is supposedly now with underwriters who may take up to 10 weeks or more to make a decision. The Trustee sale is slated for April 1st!
She has aksed for my help and I need to know how I can step in and speed up the process? I have an offer that I can submit....would that help?
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If this is a regular HAFA short sale, the servicer can not sell the house at trust sale while the borrower is in HAFA review. It is in the servicing guidelines. Though you will have to tell them that. They often don't know. Good Luck!
Hi,
The escalation process for HAFA is easy and effective and works with all lenders.
Email: [email protected]
Include:
Borrower's Name
Property Address
Loan Number
Authorization to Speak Form (you need to give them authorization to speak with the lender - meaning the home owner AND they need authorization to speak to you)
Give them a timeline and details of the problem.
It works!!! Best of luck!!!
Bobbie Files
Hi,
Just email the link I put above. That goes right to a department that has been set up at the Treasury to monitor and enforce compliance of HAFA. I also have a phone number for the home owner to call: 888-995-HOPE ask for MHA help. They will contact the servicer directly and get resolution.
It is quicker and less argumentative.
They typically respond to emails within 12 hours, but have had it take 24.
Hi,
The escalation process for HAFA is easy and effective and works with all lenders.
Email: [email protected]
Include:
Borrower's Name
Property Address
Loan Number
Authorization to Speak Form (you need to give them authorization to speak with the lender - meaning the home owner AND they need authorization to speak to you)
Give them a timeline and details of the problem.
It works!!! Best of luck!!!
Bobbie Files
I am a homeowner in HAFA. BOA has tried to foreclose on us 2x...DON'T count on them do anything they say they will do. NO ONE there knows what HAFA is. AMS is just handles phone calls from homeowners. They don't handle the file...or make any decisions. They had no record I was in foreclosure and repeatedly assured me this wouldn't happen while I was being considered and in HAFA. Of course. later someone there told me they could do whatever they wanted regarding my house including foreclosure.
I also call the BOA loss mit. dept. MANY times. The reps there don't know what HAFA is. I got the last auction canceled two days before the sale(March1) after escalations to BoA exec office and Freddie mac. DON'T COUNT ON BOA handling anything related to HAFA in any sort of competent manner. Their servicing of HAFA is beyond miserably inadequate.
Most recently, I got my HAFA payment check returned with a standard letter saying they wouldn't take anything less that certified funds in full because we were in foreclosure. I called AMS who said to call BOA customer service who transferred me to the BOA ss dept. who transferred me back to AMS. Of course, by then their system was down and no supervisor was in the office to talk to me. I left a message but no one returned my call. Major buck passing with no one taking responsibility to fix the problem.....and since in their eyes, I have not paid, I am now in violation of my HAFA contract.
AMS is not any more competent than BOA. We got a full price offer last week but due to the incompetent idiots there who kept assigning the wrong tasks through equator, it took my agent 4 days to actually get the offer uploaded into the system. So much for that 10 day turn around...I have no hope BOA will comply with that guideline either....
Glad to have the email above...I will add it to my list of emails that I send out with complaints about BOA. Maybe it will means less infuriating phone calls...but I doubt it. I was appointed an exec. level negotiator as of 10 DAYS AGO but she has yet to contact me or return my calls.....despite leaving numerous messages.
FYI, the HAFA guidelines say:
Suspension of foreclosure sales
The Servicer must continue with an existing foreclosure proceeding during the HAFA process. However, the Servicer must not refer a Mortgage to foreclosure or complete a foreclosure sale in the following situations:
• While determining the Borrower's eligibility and qualification for HAFA
• While awaiting the timely return of a fully executed SSA
• During the term of a fully executed SSA
• While awaiting approval from Freddie Mac to offer the Borrower a HAFA Deed-in-Lieu
• Pending transfer of title to the Mortgaged Premises based on an approved sales contract per the
RASS
• Pending transfer of title to the Mortgaged Premises via a HAFA Deed-in-Lieu by the date specified
in the DIL Agreement
Meaning, they CAN CONTINUE the foreclosure process while going through the HAFA short sale if they already started, but they can't actually foreclosure or send it to sheriff sale while working on the HAFA short sale. Based on that, they should remove your sale date out.
Shannon this is what I found for Fannie Mae:
General Terms and Conditions
Suspension of Foreclosure Sales. At the servicer’s discretion, the servicer may initiate foreclosure or continue with an existing foreclosure proceeding during the HAFA process, but may not complete a foreclosure sale:
While determining the borrower’s eligibility and qualification for HAFA.
While awaiting the timely return of a fully executed SSA.
Supplemental Directive 09-09 Revised Page 10
During the term of a fully executed SSA.
Pending transfer of property ownership based on an approved sales contract per the RASS or Alternative RASS.
Pending transfer of property ownership via a DIL by the date specified in the SSA or DIL Agreement.
Hope that helps
I echo Patsy...
They may not foreclose. Just threaten to report them to the Office of the Comptroller and Currency....
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