I have been working with clients for over 6 months on a loan mod.  A ReMax agent has been calling them telling them she IS their Short Sale agent ASSIGNED by B or A through DTS.  She showed up at their home with B of A SS paperwork and told them they only had 4 days to sign with her or they would go to foreclosure.  She put on an amazing tearful show for them but fortunately they called me and I told them to send her away.  She accidentally called my phone after that, and I informed her I was their agent.  She argued profusely that she was working for B of A.  I informed her she was violating the new Bill or Rights in CA, which prevents any dual tracking of modification and SS/foreclosure.  She then claimed she was working for them on the mod.  I lost it and let her have it for her lies.

Got word last week the clients do not qualify for any mod.  They called B of A directly and enrolled in the SS program, and I was sent the agent signing through Equator, which I have returned.

Question:  I am getting Bank of America forms from DTS, demanding the clients and I sign it and return by certain date.  They are claiming they ARE the servicer for the co-op SS with B of A.  Have been researching thoroughly and not finding a clear answer to whether this is true or not.  I do not want to work with DTS.

Anyone who has experience please help! 

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I'm in Oregon.  I do work with DTS on Bank of America short sales -- they are one of the dozen or so 3rd parties that BofA has contracted with to handle short sales.  I have had a pretty good experience with them. 

DTS does provide leads to some Agents who are enrolled in their program to identify homeowners at risk for default.  However, if that Agent learns that the homeowner is already working with another Agent, they are supposed to inform DTS and then back off.  Additionally, DTS also has the homeowner sign an "Agent Option Awareness" that states that the homeowner may choose to work with any Agent -- so that would definitely protect you in this case.

If you have any concerns at all, call DTS directly and I am sure they will be happy to go over the program with you.

And I would return the documentation that DTS has requested as soon as you are able to.

As stated they are a legit third party working with Bank Of America. I am working on my first short sale with this specific company so I can't give any direction on how they are to work with. The benefit is through their program your client may qualify for an incentive and get full liability waived but make sure that is stipulated on the paperwork. Prep your client that nothing is guaranteed and even though they stipulate this in writing Bank Of America and/or the investors doesn't necessarily honor those terms, just experienced that on another file with another third party entity that Bank Of America works with. 


I plan on reporting back on how DTS handles this file, I look forward to hearing your experience as well. 

DTS is aggressively calling agents to recruit their Bank of America short sale servicing. I get calls from agents in my area of Northwest Florida all the time asking if they have to use DTS. But your question of soliciting a new customer on behalf of DTS is another issue. Some borrowers believe they must use that agent.

I, too, am working with DTS on their BAC short sales in my area.  If the borrower indicates that they are doing a mod, working with another agent, or are already listed, that is supposed to be indicated in the portal and no further contact is to be made.  Sounds like this agent was just a liiiiiiiitle too agressive!

I'm in the process of my first bank-initated short sale with DTS, and short of them initially pricing the house about $150K over the value (they did an AVM instead of a BPO or appraisal on a Hurricane Sandy house...SMH), they have been pretty good to work with.  The pricing issue should be cleared up middle of next week, and, somehow, I was able to get a buyer who is submitting a reasonable offer on Monday.  Once listed, the file was uploaded in Equator and I have only 1 contact who is pretty easy to get a hold of, or returns my calls/emails quickly.  My only concern going forward is working the 2nd lien through CLC. 

I like DTS and would use them on future BAC short sales that I initiate.   

I stated I would report back and so far it's been a very poor experience with DTS. This would be the second worst servicer I worked with thus far. The last one was doing the same thing as DTS and I had to get the file pulled back to BOA due to incompetence. My understanding is that the other company BOA ended their relationship with, hopefully that will happen with DTS as well. It's best if you work directly with the service, avoid these companies when possible. The relocation assistance isn't specific to these guys, you can ask for this on any file, doesn't mean you will get it, but you can ask. 

Thank you Raymond.  Guess we should be letting B of A know there are problems to encourage them to dismiss DTS.

DTS started out on a very bad note with me - demanding forms be returned within 24 hours, HIGH PRESSURE, etc.  I let B of A know I did not want to work with them.  Got a fairly threatening email from Exec at DTS.  Ignored it and let the transaction with DTS expire.    Went with AMS.  First person dropped the ball but was fired and now I have someone who actually does what she says. 

Thanks for sharing your knowledge!

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