I am wondering if anyone may have any suggestions here. My client had a 2nd loan that was serviced by First Franklin. It was transferred to BOA who shows that the loan was service released, but, they have no record of where it went. I have called about 16 different lenders looking for the loan and noone has it.. The title work, credit report, etc. all show First Franklin still. The seller never recieved notice of the loan being transferred. We are now 2 days until we are supposed to close and we cannot without some sort of release from BOA, but the closing officer has no solutions whatsoever and we are in a holding pattern. Does anyone have any ideas?
Thanks in advance, Pat
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I'm curious how you knew it was at BofA.
In any event, the last time I had a transfer while the short sale was in process we had four weeks of dead time while the new servicer got the files up and running from the old servicer. This wasn't First Franklin or BofA, but I figured there may not be many agents that have delt with this before with that specific combination. I'd go back to the first and explain that you are likely going to need a LONG extension, probably at least 8 weeks.
I hope you can make it happen, please let us know how it goes.