I am working on a HAFA short sale where SPServicing is the first and BofA is the second. The short sale was initiated through equator and the review process began.
Yesterday I got an email from the negotiator assigned to the file and he tells me that as of july 30th 2013 BofA now requires the first lien holder to provide the approval letter before they can proceed. SPS said they will not provide theirs until BofA provides theirs.
This is getting to be unfair for my seller since they both are playing games. Has anyone had this happen to them and if so how did you get around it.
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Connect the 2 lenders together and let them sort it out. That always seems to work. I just send them each the other's demand and request. They will budge.