BANK OF AMERICA FHA PROCESS

I am frustrated with the lack of consistency and organization at the loan modification dept that you have to go through before you can go to the short sale dept. Can anyone out there get that dept straightened out?

My average time in that dept is about 5 months, with one still stuck in there after over 6 months and they already had gone through the loan mod process before we listed it. One assigned representative says that if they are approved for a loan mod even if it isn't an amount that they can afford then they can't go to short sale dept, despite what the loan mod letter says (which it does say that they can decide to not accept the loan mod and go to short sale). I call the manager and she agrees. And then on another deal, the seller just said that the loan mod amount that was approved is too much and that assigned person just sends it on through to short sale. 5 out of 6 will not return any phone calls and don't keep you informed at all. If I call their manager, the manager does not call me but has the assigned person call me and they don't know what is going on. 

In addition, they aren't keeping the paperwork straight and we have to resubmit often.

They are driving me crazy. Why can't they get organized like the short sale dept which I think does a decent job?

Any success in this area or suggestions? Do the managers at B of A know how bad it is?

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Comments

  • Wells Fargo is approaching their level of incompetence lately.

  • Everyone knows how bad it is with BOA including the FHA. Keep escalating and plugging away.

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