Comment

Comment by Guerry Clegg on April 12, 2019 at 8:43am

Are these escalation contacts current? US Bank gave a hard decline after approval of VA short sale because the buyer's lender could not work out one issue. We took a backup contract with identical terms -- net, loan type, everything -- and once the backup came out of underwriting clean, we advised first buyers agent that we were going to terminate. We kept US Bank in the loop at all times. They never responded either way. Then yesterday, out of the blue, they gave a hard decline. No one will respond. I have contacted the VA case worker and she is waiting for response from US Bank.

Comment by Brett Goldsmith on May 19, 2017 at 10:05am

Yes, USBank is now using EQ at times.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Bill Garrett on May 19, 2017 at 10:02am

US BANK on EQUATOR??  .......

A realtor tells me she's uploading docs for US Bank via Equator.  I've never known US Bank to use Equator.   I thought perhaps it was HomePath, but she insists it's Equator.  Anyone have any insight?  Thanks.

Comment by KATHY CHANDLER on October 17, 2016 at 7:20am

Thanks Brett!  

Comment by Brett Goldsmith on October 17, 2016 at 6:24am

@Kathy / They do tend to move slower and they have strict underwriting guidelines for paperwork so make sure all I's are dotted and T's crossed to prevent any further delays. When everything moves smoothly they tend to be about 45-90 days like most mortgage servicers, the challenge is they usually find something to nitpick at.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by KATHY CHANDLER on October 17, 2016 at 5:50am

Can anyone provide an Estimated Time Line for USB review and decision?  They seem to be Much slower than any of the other banks I am currently dealing with.

Comment by Dean E Eshelman, CPA, CDPE, IRES on October 7, 2016 at 12:58pm

Terry Hammill

12) Q: If I suspect someone is violating RESPA, is there a phone number I can call to make a complaint to HUD?

A: We encourage anyone that suspects someone is potentially violating RESPA to contact us. You may either call 1-202-708-0502 or you may send your complaint to:

Director, Office of RESPA and Interstate Land Sales US Department of Housing and Urban Development Room 9154
451 7th Street, SW
Washington, DC 20410

For more information, please visit our website at www.hud.gov/respa or email our office at hsg- [email protected].

Comment by Terry Hammill on October 7, 2016 at 11:01am

Dean -- we do have a CFPB complaint filed.  I am floored that upper management (apparently the directive came from a Sr. VP in their group) would instruct their low level managers to violate RESPA and demand that money be sent to them off estimate in a short sale.

Comment by Dean E Eshelman, CPA, CDPE, IRES on October 4, 2016 at 8:59am

Terry Hammill - send a copy of the letter/email to the CFPB. If we report these wrong doings, that is the only way to get them stopped. Tell them so and see if they change their tune.

Comment by Terry Hammill on October 4, 2016 at 8:04am

Has anyone else recently worked with US Banks "New" 2nd TD unit?  I am not sure if the people we are working with are just untrained or have been taught to make questionable demands?

Our seller discharged both the 1st and 2nd TD through a Chapter 7 BK several years ago.  The 1st TD is owned by Fannie Mae (US Bank is aware of this).  We have had this file approved with the 'old' 2nd TD unit for $6000.  The new demand is for $11,500.... but they want the seller to pay $5500 of that outside of escrow so that Fannie Mae doesnt know about it (they actually stated they do not want it on the estimate).  Did I mention that this house was in California (which makes their request of seller payment illegal).  When speaking with the manager at US Bank he seemed to have no idea that what he was demanding was not only illegal in CA, but also could be viewed as a Respa violation or possibly worse.  I am not sure if this is just growing pains for a new group or a concerted attempt to violate both state and federal law.  I would rather have had them just say that they no longer wanted to do a short sale and wanted to net zero dollars as they have no recourse against the seller if a foreclosure occurs.

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