The short sale I was working with CHASE got transferred to SPS on August 1st 2016. This property has two liens on it. I got an approval from the second lien holder which expires on August 29th. And SPS wants 30 days to activate the file in their system. The review will take more time. Is there any way to speed up this process befor the 2nd lien holders approval expires. Also will they work with the docs sent to CHASE or do I need to get a new set of docs signed for SPS?
You will need to resend a new package. In this scenario, the short sale will likely be starting all over with SPS. Service Releases are never ideal especially if you were already deep into the review with the 1st. SPS is one of my favorite lenders to work with, so hopefully things move smoothly from hear on out! In regards to getting them to active the file quicker that likely won't happen. There is always a transition period for service releases.
I'm here if needed!
Thank you for your reply. Judging from the earlier reviews of SPS I was preparing for a long and tedious process. But your comment make me feel more hopeful of a positive outcome sooner.