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Anyone having problem with mysteriously deactivated files since April 7 system upgrade?

Posted by Sue Irwin on April 19, 2011 at 12:28pm in Short Sale Discussions

Hi SuperStars!

I've been going round and round with both Equator and B of A for over a week since one of my files got labeled "Unavailable" for no apparent reason on April 7. We are in the review stage, past the appraisal. I've been told about 12 different things, like Start Over, or It's a Computer Glitch with the updated system, and even Nothing is Wrong -- B of A is now changing status to Unavailable when they are reviewing the file and preparing a response. Anyone have experience with this? I've been told to load all my docs in a new file that someone opened on Equator after the 'real' one got messed up, and I've been told the opposite -- don't load up a new file in Equator or it will confuse everyone! The negotiator tells me it is actively in review still.

    I appreciate your help!

Sue

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Replies

  • Alex M. May 16, 2011 at 5:38pm
    Would anyone who is having this exact problem please call me asap at (310) 666-6464.  Maybe we can compare notes and figure out how to resolve this issue.  We certainly cant be doing this forever and no one at BofA is helping at all.
  • Kathy Dyer Realtor Rosevillle Ca April 28, 2011 at 8:04am

    Yes I had it happen on 2 of my B of A files. It took 3 weeks for them to get to my files. They said that the sellers info did not migrate over to the file on the equator upgrade. They had a 3 weeks of info to manually put in.  Then once the file was rebuilt- I found another glitch...

    It happens when you qualify for Hafa ... we were declined because the loan had MI on it. The MI investor said no to hafa. We did not know it had MI after 3 weeks waiting for Hafa.  At least with Freddie Mac Hafa- you can't have an offer- so at least no buyer was waiting.   So then we tried to reinitiate to the B of A Coop short sale. It was fgoing from Hafa to the Co-op that we had issues. Once you inititiate in Equator- if you qualify for Hafa, you are set up for Hafa by default.  I wanted Co-op.  Now I am in Limbo because I asked to be  taken out of Hafa and into Co-op. I was told I had to wait 5-7 days for that task to happen. More delays now. So frustrating. Equator needs to have a bypass from Hafa to Co-op. It dones not have that now.

     

     

  • Alex M. April 27, 2011 at 2:23pm

    This is completely unbelievable.  This happened to me several times and each time I had to re-initiate the file and it happens again.  One negotiator even told me that the investor/bank has decided not to do the short sale on this property.  I would seriously like to know what the remedy is for this and what can be done for properties that have foreclosure sale dates coming up.    Bank Of America will make up any excuse to avoid liability.  They are a bunch of monkeys....

  • Sue Irwin April 20, 2011 at 7:41am
    Thanks Dawn. Somehow it makes me feel better for myself that I'm not the only one, but I feel dreadful for everyone else too. I'm emailing a California BOA manager about this on a regular basis and hope to get a response at some point -- will post what I find out... if I get a response!
  • Sue Irwin April 20, 2011 at 7:15am

    HI Maribella. I am so sorry that happened to you and that your clients' short sale went to auction. If your week was anything like mine, you spent at least 20 hours being frustrated and getting different answers. I agree that no one seems to be taking responsibility, and in fact most of the people I talked to at Equator and BOA don't know there is a problem -- except with short sales that were at the HAFA qualification stage. Equator has told me this problem is because of some new Segmentation routine that BOA started to implement when a file is in review. ANYONE ELSE HAVING THIS PROBLEM?

     

  • Maribella Hernandez April 20, 2011 at 6:57am
    This happened to my files last week, and unfortunely one house with sale date got sold yesterday because of this mess. Nobody is being held accountable. The lastest line was non compliance. Even though the buyer ACCEPTED the banks counter. I hope you have better luck then what I am having. 
  • Sue Irwin April 20, 2011 at 6:32am
    Thanks for your response Smitty! This is so frustrating. I've had to start a new Equator file WHILE the short sale is being reviewed by investors. And of the 10 people I have spoken to at Equator and BOA, not one has given me the same answer! I'm so concerned my file will be in limbo when the investors come back and have no active, ready Equator file for the negotiator to use for the response!

    Smitty said:

    I haven't had the "unavailable" but last week my file got changed from my original negotiator to two different people and then BACK to the original person and since that point I can't get any answers.  I emailed in and it went to the original guy who said he'd been reassigned and is not in charge of the file for a week and 1/2 I cant get an answer from anyone WHO is in charge of the file.  It's horrible. 

     

    I had the SAME exact problem with a WF file through equator where for the same week NO one was official in charge of the file.  The worst part is the BOA file has an auction Friday.  i called in THREE times to escalate and speak to a supervisor.  Today I was told he saw a request go in for postponement but so far its not postponed. 

     

    I liked Equator until WF started using it.  Now I'm back to...it's the pits.

  • Smitty April 19, 2011 at 2:23pm

    I haven't had the "unavailable" but last week my file got changed from my original negotiator to two different people and then BACK to the original person and since that point I can't get any answers.  I emailed in and it went to the original guy who said he'd been reassigned and is not in charge of the file for a week and 1/2 I cant get an answer from anyone WHO is in charge of the file.  It's horrible. 

     

    I had the SAME exact problem with a WF file through equator where for the same week NO one was official in charge of the file.  The worst part is the BOA file has an auction Friday.  i called in THREE times to escalate and speak to a supervisor.  Today I was told he saw a request go in for postponement but so far its not postponed. 

     

    I liked Equator until WF started using it.  Now I'm back to...it's the pits.

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