Comment

Comment by Jim Schneider on July 12, 2011 at 6:11am

@ JulieAnn and Patrick, were these FHA sales getting the PFS pre-approval?

Comment by JulieAnn DeCeunynck on July 12, 2011 at 6:03am

I have had a few files in with US bank...they usually take about 4-5 months in the "set-up" department, that is the most painful part...once you get assigned to a negotiator it will feel like smooth sailing from there on to approval

Comment by Patrick McGuire on July 12, 2011 at 5:56am

I am going on 6 months now to get an approval.I have had to get my US congressman and US senators offices involved in this file. Looks like it actually going to close sometime this month now.

Comment by Jim Schneider on July 12, 2011 at 5:49am

Does anyone have any experience with US Bank Pre-approving a fha pfs sale. They are estimating 2-6 weeks for approval, I'm just wondering what other people's experience have been on how long they took. At least when I talked to them they seemed to understand what I was talking about and didn't say "oh we don't do that" like some other servicers I've dealt with.

Comment by Jim Schneider on June 30, 2011 at 5:49am

US Bank Short Sale Packet

Arms Length Affidavit

Comment by Randy Randolph on June 22, 2011 at 8:34pm

Anyone have a copy of the US Bank required docs for a short sale? I have until July 1st before the auction

Comment by Randy Randolph on June 22, 2011 at 11:30am

Hello All,

I just got a call to go list a condo that has 1 lien holder - US Bank and an auction date in early July - YIKES!

 

I will be meeting with her in a couple of hours and getting all the required docs. Does US Bank have a way to expedite or do they even postpone auctions?

Comment by Sabrina Simpson on June 12, 2011 at 1:04pm

I recently had a short incident with U.S. Bank not approving the second and closing the file, however I refused to let them get away with it. U.S. Bank held the second, the property had an offer above market value, the first (Union Bank) approved the short sale and U.S. Bank wouldn't budge. U.S. Bank wanted all or nothing. They were offered $10K from Union Bank and $10K from the buyer. My client was insolvent and forced to file bankruptcy. When my client was told U.S. Bank closed the file and denied the short sale, I sent an email to the CEO of U.S. Bank, the V.P. of Media Relations for U.S. Bank, our local House Representative and ABC News. I stated that I couldn't understand why they would rather have nothing when the property would go to the first in a foreclosure. I also asked if their shareholders were aware they were turning compensation settlements down. Within 48 hours my clients file was reopened and approved. Fortunately, our 4th buyer was still around to complete the sale. As Realtors we need to stand up to these banks for our clients. Instead of lawsuits that just benefit the attorneys we all need to write our congressional districts so they open up cases on these bank to investigate. Good Luck!

Comment by Kevin - Greenville, SC on May 20, 2011 at 3:52pm

Doesn't really relate to Short Sales, but does their Business Practices - http://nationalmortgageprofessional.com/news25239/hud-settles-us-ba...

Comment by Jim Schneider on April 25, 2011 at 11:52am

Okay, I'll answer my own question. Here's the financials:

US Bank Finanicals and Required Docs

 

Now does anyone have a copy of US Bank's Arms Length Affidavit?

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