Good morning superstars, hope you are having a great week!
I want to pose a question to you. Let's keep this high level and focus on a solution. Lately there are alot of posts about Bank of America. Alot of talk about issues with Bank of America short sales.
If you could ask them one question, in one sentence, what would it be?
Please nothing derogatory and nothing about a specific property. A general question about their short sale process.
What I want to do is see what question comes up the most and then I will forward that question to someone at Bank of America who I know listens and who I know is a solutions based person to see what his thoughts are.
My question:
Why is there such a restrictive policy on switching to a new buyer after the first buyer falls out?
Anyone care to send me their question?
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Why do you employ the services of AMO?
Seems as if BofA has now outsourced at least part of its administration to India. If true why would BofA add this complication to an already difficult and tenuous process?
One question to BofA...."Why is it that 2 out of 10 of our equator files get cancelled due to 'erroneous error'?" Total deletion of the entire file-
We contact the same gal for the same issue- At least she knows us by name!!! Sometimes we have to reload the entire file, other times it's just a "re-start" of the file...Just such a time wasting, wart on my ass-type issue...
I really didn't have any BofA unanswered questions but because this issue happened again this morning, I figured I would put it out there- Today we were going to upload a counter-offer and the file was closed-
Anyone else have this happen to them?
Thanks Jeff!
I just had a Third Party Authorization rejected because someone at BofA was confused by the spelling of my name. This exact form was previously accepted by BofA on the same loan - only different buyer.
I so agree with the first question. Since BofA already approved the first buyer, why do we have to go thru the whole process again with a new buyer? I think it's such a waste of time for us Agents that work so hard, especialy with gas prices continuing to increase. We alll need to get paid faster.
Good questions everyone. I will see if I can get some answers. BofA watches this site and they pay attention to what we are saying on here.
@Nazila I think that last part of your answer could be part of the issue because it is not about us, it should be about the customer/borrower. We can control our situation, the borrower can not always control thiers. We can control whether or not we take the short sale listing. Quite honestly the bank shouldn't care about your time, gas prices and your pay, those are all things you can control...
Beyond the above question...Why must we restart a file from scratch when they decline a file. I had one accidentally declined by LRC (usually this happens with an LRC file) and it took myself and a manager at BOA a full day to reopen and get the file back to where it was at. THANK GOODNESS I got a supervisor willing to handle this for me as we were ready to send for final approval on a non-delegated file (arrggghh!!!). Also, why do we even have to work with these outsourcers like AMO, AMS, LRC, etc...etc...etc...it does NOT improve the quality of service and limits our ability to escalate the files when an error arises.
Thank you!
Keri :)
My question would be relative to HAFA short sales, the SSA provides that if the property doesn't short sale within the specified period, the borrower agrees to a DIL - what compensation does the agent receive for all the hard work? Or asked in another way, is BoA one of those servicers that pay agents 1% to help facilitate the DIL?
I really need the answer to this question. I think perhaps Stephanie Lowe would be able to answer this question - thoughts?
Why is the procedure to complete a BofA short sale different every time? Why is the procedure different if I am working through your vendor (LR) rather than directly with someone from BofA? (Ok, that was two questions.)
Why do you have to be such ****** and can't recognize we have a problem to solve and really work together to solve it. Why don't you get that?
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