Ok it looks like I will lose this argument for now and will comply with the last minute demand by Chase that the commission is reduced to 5%. I have not had to do this before. Mostly lucky I guess that they have been Fannie or Freddie short sales. The negotiator on this file made the thinly veiled implication that a file has to be closed if it cannot move forward because of compliance issue. She did not come out and say it of course that acceptance of the offer is subject to agent’s reduction in commission. Sadly the seller is going through a divorce with 6! Kids……seriously. So I am not going to risk the negotiator sending the file back to the beginning in Equator. She can do that you know. Chase is new to Equator I believe since November and it is a sad thing to see and experience. They are totally dysfunctional.
So does anyone know specifically where you can get a copy/metrics for Chase bank owned short sale guidelines? I mean owned and serviced by Chase alone. Not a HAFA. A straight up traditional short sale that is bank owned. This started out as a Washington Mutual loan…and they say there are new guideline for them since last November....
Michael
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