Escalation Phone # for Loan Modification Request

Greetings,

I have been attempting to negotiate a loan modification for a client since January 4, 2012. I have been in contact with the account manager at least 20 times since that date, who has requested additional information from the borrower multiple times. Every time, I have submitted documentation on behalf of the borrower within 48 hours. The last week, the account manager has gone MIA. I have left messages for her manager and her manager's manager a minimum of 10 times, never to receive a response.

I am now looking for a way to escalate this file (as her managers have been unresponsive). Any phone numbers, thoughts, strategies would be much appreciated. Thank you!

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Replies to This Discussion

Permalink Reply by Jim Schneider on March 27, 2012 at 10:52am

Graham,

 

while I have only worked with clients on short sales, not loan mods, two things struck me from your post. First, it typically takes 90 days to get a short sale approved, frequently these can go up to 180 days or more, so it doesn't look like you are too far out of that time frame. If I was having a similar slow response, and couldn't get managers to respond either, I would try the investor on the loan, and the mortgage insurer, if any. Do you know who owns the loan? Have you checked the fannie/freddie and mers sites for the name of the investor? Also try the BofA twitter team, they've been known to help.

Permalink Reply by Julie Alibrando on March 27, 2012 at 11:08am

You might try: Jennifer Brandau, VP Mortgage Servicing.  I spoke to her at our RE/MAX Convention and she took care of a problem I was having with a short sale.

[email protected]

302-432-3802 xt 23802

Permalink Reply by Graham Updegrove on March 27, 2012 at 1:02pm

Jim,

I typically only work short sales as well and the loan modification negotiation has been a learning process. The investor is BNY Mellon (obtained from MERS site). When trying to contact them, they referred all items to Bank of America, as loan servicer. It would be great to see what the servicing pool agreement allows BAC to do with/without investor approval as BAC outright denied relaying a specific request to BNY Mellon.

Julie,

Thank you for the contact. I already received a phone call from the BofA Social Media Team, which browses various sites trying to help customers who are having issues. So far, I'm impressed with the Social Media Team. I will try to update with news of what happens over the next few weeks.

Permalink Reply by Kevin - Greenville, SC on March 27, 2012 at 2:48pm
Permalink Reply by joe beauchamp on March 29, 2012 at 1:18am

Kevin, you keep pumping out great info for making contacts - don't stop. Great stuff whether we've been doing this forever or just jumping in with "I handed them the short sale, why didn't they just email me the approval" startup's.  Thx..

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