Does anyone have a contact name and number for US Bank. I have a short sale that they have had completed packet since Dec 28 and they have already done appraisal. They tell me that everything is complete but they have 60-90 days to make a decision. I cannot get a supervisor or they will not let me escalate the file. What happened to US Bank....they were so good to work with? Any suggestions
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@ Lisa. Since December 28? Less than a month under review, including a holiday.
My experience with US Bank is that they were totally crushed by the volume of short sales, they have staffed up, but the timeline is still long. My outcomes from US Bank have been good.
In my experience, formal approval with written letter in less than 3 weeks from time of appraisal is unlikely, from any Servicer.
Total of 60 days from date of executed contract is a realistic goal, I think.
Michael,
Let me correct my information from earlier. They have had a completed file since Dec 8th. They sent it to underwriter Dec 28 after all their evaluation etc was complete which seemed to be moving very quickly. Now they just keep saying underwriter has 60-90 days to get back with them from Dec 28th. My contact person assigned to the file does not seem to care or want to request any information from underwriter. I have had great success with US Bank as well as other servicers in 30 days or less for some sort of request or response. If you don't ask you don't receive and the file just sits or gets lost.
Hmmm...Does any SSS out there have an escalation contact they can share?
I wish I knew the US Bank of before.. I am currently working 2 with them.. and closed 4 last year... what a nightmare. Every time I call a "new" person is lucky enough to answer and explains some new policy change with the 3rd party authorization or status updates. So after I thank them for nothing and hang up.. call back and speak with someone who actually knows the process. Sometimes I can call 4 or more times in one day before I actually receive a decent answer to my status questions.
IMO they are one of the most erratic, no guideline, lenders doing short sales.
I am constantly reminded the review process takes 30 - 45 days even when I have an approval letter that is still valid but the buyer walked, new buyer same offer amount. Then once the file is with the investor the reps are more than happy to spout that the investor has no time frame and can and may take up to six months to respond.