This is crazy making -anyone having this experience with BoofA deactivating files at closing

I am the buyer's agent. Everything went very smoothly, we received an approval letter with a close date of Friday April 22nd. Buyer's docs were ready a week before. Seller's signed, my buyers signed on Tuesday. The HUD was sent in on Wed, Thursday the title company calls the closer to say the wire is on the way, and she says sorry the file has been deactivated, don't send the wire!!!!

The listing agent contacted everyone he could, no-one could do anything. He escalated it to Matt Vernon's office and the negotiator said for him to upload all the paperwork again, as the file has to re-start from scratch and it could take another 10 days or so to get another approval letter. My buyer's have to move, their lock expires on Thursday, the sellers are out. Is this insane or what??

Everything was done right and on time, and because there is a glitch and they know it, they can't just use the same approval letter that we received about 3 weeks ago; no they have to start the whole process again. The funds are waiting to be wired. My buyer's money is sitting in escrow -- I am beyond frustrated. I don't know how they get away with this. This really has to stop.

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Replies to This Discussion

Permalink Reply by Sameer Punjani on April 25, 2011 at 3:49pm

Contact the Office of the President & CEO. Here is the person that helped me last time when my file got screwed by AMS Loan Servicing :

 

Schilling, Collette <[email protected]>

 

You can also contact 

 

Rene Harrison, 1.877.498.7226 ext 3912

 

They are both in the Presidents Office, let them know I sent you, maybe they will do something faster..

 

You can also sent a tweet to @BofA_Help  Let them know, and they will contact you right away.

 

Good Luck and let them know your frustrations..i ran a report in my area, and it takes over 130 days to close a short sale. Then you wonder why people don't want to go through the hassle. So what's left on the market? Crap REO's just the agent just puts new paint and carpet, but the rest of the house is crap.  

 

But then again, theres the flips, but FHA has restrictions on those...then you wonder why housing isn't coming back?

Permalink Reply by Jim Hale on April 25, 2011 at 5:00pm

Find a sympathetic reporter at a TV station or talk sweetly to a TV station assignment editor.  Find a sympathetic editorial writer at your local paper.  Find a sympathetic reporter at that paper.  Call your member of Congress.  Picket the local mortgage office of the lender in question.

 

Or call a press conference.

 

Or do all the above.

 

Only after some of us do these things all over the nation, will it stop. 

Permalink Reply by Glenda Sher on April 26, 2011 at 4:07am
Thank you Sameer. I called and left a message and emailed. Hopefully we will get a response. Sure appreciate this info. It is so frustrating to have come so far, and then at the last minute for them to say no don't send the wire your file is lost, and we now have to review the file from scratch and it could take another 10 days!!! I will keep you posted.

Sameer Punjani said:

Contact the Office of the President & CEO. Here is the person that helped me last time when my file got screwed by AMS Loan Servicing :

 

Schilling, Collette <[email protected]>

 

You can also contact 

 

Rene Harrison, 1.877.498.7226 ext 3912

 

They are both in the Presidents Office, let them know I sent you, maybe they will do something faster..

 

You can also sent a tweet to @BofA_Help  Let them know, and they will contact you right away.

 

Good Luck and let them know your frustrations..i ran a report in my area, and it takes over 130 days to close a short sale. Then you wonder why people don't want to go through the hassle. So what's left on the market? Crap REO's just the agent just puts new paint and carpet, but the rest of the house is crap.  

 

But then again, theres the flips, but FHA has restrictions on those...then you wonder why housing isn't coming back?

Permalink Reply by Glenda Sher on April 26, 2011 at 4:11am

Thanks Jim,

I do know a reporter, I will call her this morning, and will be filing a complaint with the AG's office, Senator's office, Treasury ---I can understand them taking 90- 120 days to get approval, but once we have approval, and we have the wire ready to pay off their investor, and they loose the file..........


Jim Hale said:

Find a sympathetic reporter at a TV station or talk sweetly to a TV station assignment editor.  Find a sympathetic editorial writer at your local paper.  Find a sympathetic reporter at that paper.  Call your member of Congress.  Picket the local mortgage office of the lender in question.

 

Or call a press conference.

 

Or do all the above.

 

Only after some of us do these things all over the nation, will it stop. 

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