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I recently closed a very similar scenario with Chase they had sent that EMC-HELOC loan to a third party processor.
Try calling the third party processor direct.
DTS SOLUTIONS: Phone: 800-684-7780 Fax#: 817-826-2059.
My experience with this third party was good. Fast and good direct communication.
However, at closing there was a little conflict over whether they actually had the authority to satisfy and release that second lien. Got that worked out with a little extra hassle.
Thank you very much SE! I called DTS, and they were helpful. They said that the loan had been transferred back to Chase on 8/15/11. Unfortunately, the seller doesn't have a record of receiving that letter. I am wondering if Chase transferred it to someone else?
It is doubtful that Chase transferred a defaulted EMC second lien to someone else.
My conversations with DTS gleaned that they have specific time limits on settling files sent to them by Chase-EMC.
I would call DTS back tell them you have written HAFA approval from the first mortgage holder and see if they can call that second lien loan file back from Chase to be reviewed for short sale approval.
Fax DTS the written approval. Fax Chase the written approval and then call Chase Escalation 48 hours later.
Just stay on them hard.
Thanks again SE! That is very helpful.
Beware of the BLACK HOLE at Chase.
Second liens or anything with the EMC initials attached to it seem to disappear into a black hole at Chase.
This post is not intended to disparage Chase but I have had several EMC experiences where these loans get zero attention during the short sale process.
My experience mentioned above in my first reponse that EMC second lien was HELD by Chase for 108 days before they even transferred it to DTS. After transfer, DTS issued a written approval in less than 2 weeks.
I'm just saying don't assume anyone is working on this file over there.
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