BOFA Did it again!!!! Short sale approved. Approval letter being worked on and I could not get it last Friday or this past Monday as I was told I would. Tuesday, Wednesday and even yesterday received an email stating trying to get the letter to me if not today, than tomorrow. Closing already scheduled for Tuesday morning. File submission to approval in 48 days.
Today get a Decline Notice:
"This loan was service released 11/15 to Select Portfolio at 800.258.8602. The short sale transaction currently in process has ceased, so please contact the new servicer to begin working with them. Thank you, Pamela"
Can you say Frustrated???????????? I mean really BofA?????????????????
Thanks for the info. With SLS you can sign up the client under their website and they will respond in 24 hours. They called me today on another deal and I spoke with them about three times since last week on the other deal I have with them, You need your client's permission to set up a login with their information. Goto https://www.sls.net/default.aspx and set up an account if your client does not have one. Use your email so you can get information first hand. I use the SLS site to message cust service regarding a request for a phone call. They will forward it to the negotiator.
Let me know if you need anything with them, It's not so much working with SLS that frustrates me, it was way in which BofA handled and is handling the process. They can do a much better job, especially for loans in my situation where it was approved with a confirmation email and they dragged it another 5 days only to release it. That's just wrong.
Best of Luck. Let me know if you need anything, Thanks! ;-)
The negotiator is finally calling me, looks like we may get an approval from the investors.
I still find it more frustrating with the time it takes for them to receive information. In this day when everything is instant it takes 2-3 days for emails to reach the negotiator, if they had their own private email it would go faster.
I have dealt with a lot of companies, but this one is the only one so far that seems to take so long for response time.
Thank you for your help, and best of luck for you and your client.
I just wanted to update my message on 11/19/12. HAFA had approved and we were almost ready to get the final approval and then I was told the loan was going to be sold. It went to SLS and I did finally get a human and was given a new loan number which I uploaded all the information to the new bank. I spoke a couple of times to different people using the loan number. Then around the 3rd week of November the system wouldn't take the loan number I couldn't get through. Finally after some frustration I got a human and found that the loan went back to BOA. So, yup, starting all over with BOA again.
Hi, it gets better each day. I had a nice rep from Service Link call me this morning and going over the file and getting the necessary paperwork in order to do all the same paperwork over again. But, oh well. She was nice. However, when I went on Equator to upload things there was a problem so I called BOA from the phone number on one of the emails. I was told that the file was in litigation and she can't speak with me. I could put a request to BOA in writing and within 5 days I would get an answer maybe. I told her that I had spent hours on this and needed to know what was going on. Then I got another email telling me I had 24 hours to complete the new task. I did get someone from Servicelink and they told me the note on the file said I had called in and left my name and number.. Nothing on the response that "We can't discuss this with you". I was wondering who is hiring? I am too old to start a new career. I just keep on moving.
IndyMac/OWB just did it to me tonight. Worked on this file for 2 years and received an approval letter Friday and it's being serviced released on Nov 1 to Ocwen. Why do they do this? It's very frustrating, because now we have to start all over again. I guess it's still all about the money with these banks. Maybe they get a higher price if they sell them "under contract" or something. We do what we can and jump thru hoops and over valleys and then they pull this at the 9th hour. The selling agent and buyer are not happy about this after waiting all these months. Don't work with IndyMac/OWB if you can help it. They have done nothing to help us through the whole transaction. Their approval letter is worthless in my mind!