Replies to This Discussion

Permalink Reply by Patsy Clevenger on May 19, 2011 at 10:21am

You will need to contact AMS directly as they do not use Equator like B of A.  Word of the wise you will need to babysit AMS through the whole process. I have one in closing that has been a nightmare from the start.  Call them on a weekly basis to ensure the ball does not get dropped.  AMS does not know what they are doing.

 

Good Luck!

Permalink Reply by Shayna M. Bechtel on May 19, 2011 at 10:28am

That was the impression that I had, but wanted to make sure it wasn't just a glitch (Equator's been having more that its fair share lately).  Thank you very much for your input and I will place them on my babysitting list!

Permalink Reply by Sameer Punjani on May 19, 2011 at 10:55am

AMS is just a front that BOFA created to kill the short sale deals.  I don't know anyone that has closed a deal using AMS. Bank of America wants to foreclose on properties so they can collect the full principle and interest from the people that backed the loan (Fannie Mae).  Fannie Mae doesn't even hesitate on paying them the full amount owed. Why would BOFA consider a short sale or loan mod when they can cash in on the full amount with a foreclosure?

Permalink Reply by Patsy Clevenger on May 19, 2011 at 11:01am

Sameer as bad as what AMS is if you stay on top of them you will get them closed,  I have one that is closing on Monday.

Permalink Reply by Elvira Quiray on June 13, 2011 at 7:17am

I have a short sale (HAFA) with AMS, submitted FEB  28. The underwriter has approved it for HAFA on MAY 5 but since then, I have been waiting for a BPO to be done on the property. I have been calling every 2 days, no call from an appraiser until now.

I had a HAFA with another B of A third party company , Prommiss, and it went smoothly. That was only last Aug, 2010, and I closed it in January, 2011.

 

There is no reply thru equator with AMS. I have e-mailed so many messages.

Permalink Reply by Sameer Punjani on June 26, 2011 at 8:49am

Google ams loan servicing. I exposed this problem months ago. Read my blog. Funny how all the negative about this company shows at the top of the google results

Permalink Reply by Shayna M. Bechtel on June 27, 2011 at 2:48am

I am having the same experience, Jonathan, so I greatly appreciate the tip!  I will give it a try...

Jonathan Osman said:

Actually AMS does use Equator but not like you think. 

 

We have a short sale file (BofA through AMS) and it has been a cluster F of mammoth proportions.  You know the drill: fax or email, wait 3 days, still not received.  From one guy: yeah we got everything. Next guy: no, we have nothing.

We went around WEEKS like this.  Finally, completely at my wits end after a call where they were requesting documents that I had sent in 4 times, I uploaded the entire package to equator.  Followed up with a phone call within minutes and the guy confirmed that he now had duplicates of the package. 

 

They don't issue tasks however you can upload files by going to the property > Library > Property and upload the entire package individually. 

 

Wish I had done that from the beginning.