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A Good 1/3 of our Short Sales are B of A loans. Usually when we have gotten nicked for "non compliance" it was the result of the house being FHA insured, and failing to meet the requirements for entry of the PFS guidelines. Do you know if this is FHA insured? If so, you can call your FHA regional office and get them involved to facilitate.
Thanks for the info. I will put a note on the door. Meanwhile, I asked the negotiator not to cancel and she move it to Titanium.
Kathleen, Why did she move it to Titanium? Did she tell you why?
Kathleen Sheridan said:Thanks for the info. I will put a note on the door. Meanwhile, I asked the negotiator not to cancel and she move it to Titanium.
Titanium is an independent company that I've been told has a contract with the federal government under the new guidelines that turns in a report to the bank after they have contacted homeowner (3 times in person) to ask 7 questions to determine, occupancy and if a loan mod is a possibility. These are real estate agents getting paid a fee just like a bpo hoping to get the listing if a loan mod is not possible or has failed. Titanium has an agreement with many banks to handle this process. It's very possible since your clients were out of state and unreachable they were considered uncooperative and the file closed for that reason. Call and ask to speak to the previous negotiators supervisor or their managing supervisor to get an exception to their policy. Submit the file again and give them the homeowners contact information so Titanium can contact them personally and file their report...although I think this has to be done in person you may get an exception for work out of town. Let me know if you find out anything different....Good Luck
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