Bank of America & AMO
We received a HAFA Approval to Participate letter from UTLS in October 2011, submitted an offer within days of receiving the approval terms. Submitted the offer thru Equator, only to have the system continue to repeat the same task several times. Spoke with the negotiator who advise that the only way to resolve the issue would be to reset the offer. Per the negotiator BOA changed processes and they had to start the entire process over. Needless to say the buyer walked, in the intrum of having the release signed we were able to get the buyer to stay engaged. The negotiator was out sick for 2 weeks. No one worked the file despite several emails.
I've used Twitter help several time which always gets the ball rolling we are now on our 3rd offer and AMO is now requiring a new valuation because its an Equator process. I'm looking for a way around this to escalate the process. The seller has received an intent to foreclose letter and dealing with AMO is costing all parties valuable time.
Any suggestions or input is greatly appreciated.
Replies to This Discussion
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Permalink Reply by Aneetra Isis Sherrell on
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The same thing happened to me although no foreclosure notice. I've escalated to MHA and they're working on it as we speak. The rep told me to give them 72 hours to research as the rules are not being followed. Try that, I'm on my second buyer...
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Permalink Reply by Jeanine Whitehead on
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What's MHA? Please advise.
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Permalink Reply by Keji Ogunleye on
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Welcome to the merry go round of AMOrecoveries.. The most incompetent people I have to dealt with in a long time.. I escalate so many times that it does not make any impact. Here is a name of a manager in AMO I hope she can help you. My seller has to decline the short sale and do a co-op short sale and this has been on going since June 2011.. [email protected]. Margaret Lewis.
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Making Home Affordsble. You need their authorization form signd by your seller before they will speak to you. You can find it on makinghomeaffordable.gov They will open up a case and deal with the servicer for results, and they keep you informed on what's going on.
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Permalink Reply by Patrick Smith on
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BoA is my favorite short sale lender at the moment. AMO, however, ranks somewhere at the WORST. They take a process that should be quick and easy and then stumble through it, only moving the file along when I contact MHA or Bank of America's social media team - and even then they only take one step, then stop for weeks or months on end. How frustrating! I can't believe that Bank of America continues to give business to a company that is this bad....
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