Replies to This Discussion

Permalink Reply by joe beauchamp on July 23, 2010 at 4:01pm

There are a LOT of nimrod negotiators at BofA - vast majority of the ones who don't have an email address or anything but a name wander through the halls at night spewing random inane things which make it absolutely abundantly clear that they know nothing about the file. These people frequently hit REJECT and then run away. Did you notice that this was NOT your negotiator but someone masquerading as your negotiator? Yep, one of them.

However, there are plenty of nimrod negotiators, too. Brain-dead - rather than counter, etc., just hit reject. 3 days ago, I had one of these roving monsters deny the short sale because the finacials were too old. Hello? Have you thought of asking for updates? This particular one gets better - I already new from the REAL negotiator that the investor already approved the deal - he told me to not touch a thing, just hit agree. And, yes, these people make the real negotiators mad, too.

So, if you get the idea that there is this crazy undercurrent of insane activities in Equator-land, then I did my job.

Now, with that in mind, why would you question that someone with an I.Q. a few points above 100 could easily have seen what happened, shook his head and told you to resubmit? [They don't know terms like "fix" and "correct" and "accept", so they say "resubmit".] You may wonder about "accept". Look at the counter system. They do not have the ability to accept your offer - they can only counter with the numbers you gave them. Get the hint that BofA Equator is all negative? No fix, resubmit, roving whacko's hitting random REJECT buttons, etc.

So, that is what you are missing. If what you heard is what you wrote, it sounds exactly like someone saw that you got zapped by one of these clowns. Lucky for you, you ran across someone who cared enough to tell you to resubmit - they are not all that plentiful, either.

Now, does that make a little more sense about what happened?

Oh, value of short sale? Don't think in those terms, BofA doesn't. Leave the real world at the door when you arrive in Equator-land. BofA processes files - they don't own the money, they don't lose the money, they get paid for dealing with the borrower. They don't care if the investor throws away $300K, that is up to the investor, although I'm very sure that in most cases, BofA is very capable of manipulating the investors. Supposedly, it is the investor who makes that decision. Although, MI has more power than the investor - too much. No one seems to acknowledge that if the MI pushes too hard, they will be paying that 85% of the loss. They miss this and consequently kill short sales which they wouldn't if they used their cute little brains.

Now that you've taken your thinking cap off so you can be on par with BofA, this should all make sense. If it still doesn't make sense, down about 5 margaritas and take another look. You still don't see how brilliant BofA is? OK, stay awake for another 72 hours, have 5 more drinks and then look at it. Now don't you see just how fantastically brilliant BofA is? You just have to create the right mindset... ;-)

Permalink Reply by Diana Arranaga on July 24, 2010 at 11:41am

Thanks for the insight. I agree we've got to see the humor in it and move forward. Funny thing with this one, my assistant and I both noticed that the person who hit the "reject" button was not the one we had been dealing with. In fact..... it the the same person who told us on another file that we had 48 hrs. to complete the assigned tasks. Get this - we kept saying THERE ARE NO ASSIGNED TASKS we were current on everything. We kept telling her that maybe it is on their end. Maybe they need to hit a "send" button or something because there is nothing showing up. She sent us back a picture of her screen.. yes.. showing tasks that were overdue. Well, it must have been that she had to hit a "send" or "release" button. It was not until we went to supervisors that they were released. DUH!

Thanks again

joe beauchamp said:

There are a LOT of nimrod negotiators at BofA - vast majority of the ones who don't have an email address or anything but a name wander through the halls at night spewing random inane things which make it absolutely abundantly clear that they know nothing about the file. These people frequently hit REJECT and then run away. Did you notice that this was NOT your negotiator but someone masquerading as your negotiator? Yep, one of them.

However, there are plenty of nimrod negotiators, too. Brain-dead - rather than counter, etc., just hit reject. 3 days ago, I had one of these roving monsters deny the short sale because the finacials were too old. Hello? Have you thought of asking for updates? This particular one gets better - I already new from the REAL negotiator that the investor already approved the deal - he told me to not touch a thing, just hit agree. And, yes, these people make the real negotiators mad, too.

So, if you get the idea that there is this crazy undercurrent of insane activities in Equator-land, then I did my job.

Now, with that in mind, why would you question that someone with an I.Q. a few points above 100 could easily have seen what happened, shook his head and told you to resubmit? [They don't know terms like "fix" and "correct" and "accept", so they say "resubmit".] You may wonder about "accept". Look at the counter system. They do not have the ability to accept your offer - they can only counter with the numbers you gave them. Get the hint that BofA Equator is all negative? No fix, resubmit, roving whacko's hitting random REJECT buttons, etc.

So, that is what you are missing. If what you heard is what you wrote, it sounds exactly like someone saw that you got zapped by one of these clowns. Lucky for you, you ran across someone who cared enough to tell you to resubmit - they are not all that plentiful, either.

Now, does that make a little more sense about what happened?

Oh, value of short sale? Don't think in those terms, BofA doesn't. Leave the real world at the door when you arrive in Equator-land. BofA processes files - they don't own the money, they don't lose the money, they get paid for dealing with the borrower. They don't care if the investor throws away $300K, that is up to the investor, although I'm very sure that in most cases, BofA is very capable of manipulating the investors. Supposedly, it is the investor who makes that decision. Although, MI has more power than the investor - too much. No one seems to acknowledge that if the MI pushes too hard, they will be paying that 85% of the loss. They miss this and consequently kill short sales which they wouldn't if they used their cute little brains.

Now that you've taken your thinking cap off so you can be on par with BofA, this should all make sense. If it still doesn't make sense, down about 5 margaritas and take another look. You still don't see how brilliant BofA is? OK, stay awake for another 72 hours, have 5 more drinks and then look at it. Now don't you see just how fantastically brilliant BofA is? You just have to create the right mindset... ;-)

Permalink Reply by joe beauchamp on July 24, 2010 at 1:21pm

The negotiators aren't happy with these ghosts going around doing damage - they end up apologizing and trying to fix it. Your negotiator or whoever told you to resubmit did the normal thing and saw that THEY screwed up - you have a good deal, so resubmit. At least that tells you that your deal is good. FAST TRACK is somewhat new and the rep can put you into it if there are delays and this is your 2nd buyer. Possibly, because this is your 2nd time through, you might be able to push for it to speed things up.

Until this last week, I would have believed this is the only thing that BofA people can do - tell you to resubmit. I had a negotiator that I really really didn't like (another story all by itself). One of these ghosts killed the deal, this negotiator was actually able to get it going again on his own and get me the right counter in less than a day. I've asked others and, yes, you can under extraordinary circumstances actually fix a deal. I suspect your situation was not that and the negotiator capable of understanding or caring about doing such a revival is rare - who knows, maybe Andy is the only one. But knowing that at least you could have pushed hard to have him fix what clearly this night-time idiot did to you, will help you next time.

When I resubmit, I shoot all the seller doc's (and captured hardship/financial pages) into the library - I figure the faster and more complete I can get them things the faster they will make things work. [I also try to get updates - I don't want the negotiator stopping things to ask for them and I don't want him thinking that we don't care enough to give him good info (Interesting - used angle bracket here and the editor ate my comment - OK, I said that if we can't bother to give him good info, why should he put effort into the deal) . ]

Diana Arranaga said:

Thanks for the insight. I agree we've got to see the humor in it and move forward. Funny thing with this one, my assistant and I both noticed that the person who hit the "reject" button was not the one we had been dealing with. In fact..... it the the same person who told us on another file that we had 48 hrs. to complete the assigned tasks. Get this - we kept saying THERE ARE NO ASSIGNED TASKS we were current on everything. We kept telling her that maybe it is on their end. Maybe they need to hit a "send" button or something because there is nothing showing up. She sent us back a picture of her screen.. yes.. showing tasks that were overdue. Well, it must have been that she had to hit a "send" or "release" button. It was not until we went to supervisors that they were released. DUH!
Thanks again
joe beauchamp said:

There are a LOT of nimrod negotiators at BofA - vast majority of the ones who don't have an email address or anything but a name wander through the halls at night spewing random inane things which make it absolutely abundantly clear that they know nothing about the file. These people frequently hit REJECT and then run away. Did you notice that this was NOT your negotiator but someone masquerading as your negotiator? Yep, one of them.

However, there are plenty of nimrod negotiators, too. Brain-dead - rather than counter, etc., just hit reject. 3 days ago, I had one of these roving monsters deny the short sale because the finacials were too old. Hello? Have you thought of asking for updates? This particular one gets better - I already new from the REAL negotiator that the investor already approved the deal - he told me to not touch a thing, just hit agree. And, yes, these people make the real negotiators mad, too.

So, if you get the idea that there is this crazy undercurrent of insane activities in Equator-land, then I did my job.

Now, with that in mind, why would you question that someone with an I.Q. a few points above 100 could easily have seen what happened, shook his head and told you to resubmit? [They don't know terms like "fix" and "correct" and "accept", so they say "resubmit".] You may wonder about "accept". Look at the counter system. They do not have the ability to accept your offer - they can only counter with the numbers you gave them. Get the hint that BofA Equator is all negative? No fix, resubmit, roving whacko's hitting random REJECT buttons, etc.

So, that is what you are missing. If what you heard is what you wrote, it sounds exactly like someone saw that you got zapped by one of these clowns. Lucky for you, you ran across someone who cared enough to tell you to resubmit - they are not all that plentiful, either.

Now, does that make a little more sense about what happened?

Oh, value of short sale? Don't think in those terms, BofA doesn't. Leave the real world at the door when you arrive in Equator-land. BofA processes files - they don't own the money, they don't lose the money, they get paid for dealing with the borrower. They don't care if the investor throws away $300K, that is up to the investor, although I'm very sure that in most cases, BofA is very capable of manipulating the investors. Supposedly, it is the investor who makes that decision. Although, MI has more power than the investor - too much. No one seems to acknowledge that if the MI pushes too hard, they will be paying that 85% of the loss. They miss this and consequently kill short sales which they wouldn't if they used their cute little brains.

Now that you've taken your thinking cap off so you can be on par with BofA, this should all make sense. If it still doesn't make sense, down about 5 margaritas and take another look. You still don't see how brilliant BofA is? OK, stay awake for another 72 hours, have 5 more drinks and then look at it. Now don't you see just how fantastically brilliant BofA is? You just have to create the right mindset... ;-)