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Do you ever have any luck with the HOA. I haven't so far. I wish they would see the benefit of having a paying homeowner in there fast and cutting future losses. Let us know how that goes.
Bank of America has been one of the most difficult to deal with. Interesting that they didn't respond to your comment on FNMA instructing them not to reduce the negotiated commission below 3%. What about going directy to FNMA? It may be too late for this transaction, but could help the next one.
BOA is the worst ( Especially with Fannie Mae ). They are taking for ever and nobody knows why. We have one with them that it seems everything including the BPO was done, but no one seems to know why or who needs to approve it and we sit in limbo. We were told it might be another 6 months before we get approval because are supposed to be short people in the Fannie Mae Dept. We have escalated the file many time and get no where. We were told to stop escalating the file and see what happens.
We have another Fannie Mae with BOA and I doubt we are going to close that one. The second lean holder has approved it with a BPO 25k lower then BOAs. We had a 3 way with our attorney and BOA and the negotiator was literally laughing on the phone at our attorney. I don't get it. How does a lender with this kind of customer service ever get this large? There are people's futures at stake and we are doing our best to make it a win-win for the bank and for the seller. Yet we have seen time and time that the banks will fight over petty commissions or HOA fees and intern let the house foreclose and cost them soooo much more. I don't get it???? It is extremely frustrating.
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