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Comment
Sue,
I have gone to the file in Equator and opened up each email and then printed so that the buyers agent or buyer could see that I am working the file and addressing what is truly going on. I know it would be very easy to just blame another party when things aren't moving. An agent doing their job will have no problem giving you documentation to show their conversations and progress is accurately being conveyed to you.
@Lisa Helweg. Well put. I agree.
I agree with Lisa, it was a good webinar to get you familiar with the process. I've been working on one as the buyer's agent, so of course not much hands on, and it has been a mess. Contract was submitted the end of October, should close on the 2nd of August. They have said they are swamped. I can't even imagine those employees having 300 files to deal with. That means 300 real estate agents they have to deal with and I'm sure they get dumped on alot!
@Dean, I thought that it was a good introductory webinar for agents who are unfamiliar with FHA Short Sales, but left seasoned agents frustrated. I agree with you that they need to offer a webinar where they are willing to honestly and directly field the questions that experienced agents have. I think that Bank of America has made great strides in improving communication and relationships with the agent community on the traditional short sale side as well as their internal processing. It is now time for them to focus on their FHA processes. It sounds as if the first step needs to be hiring and training. I empathize with the good employees who are doing their best to process 300+ files quickly and accurately.
Just called BA to follow up-post "waterfall process". Was told 7/11/12 to follow up approx 7/23/12 as they would assign negotiator and issue ATP. Just now, the rep said it would take another 7 business days to assign negotiator and ANOTHER 45 days to issue the ATP. I do not recall that detail in yesterdays webinar.
@ Kevin, I agree. BA is the problem. HUD has bailed me out several times with BA. I'm dealing with BA now, when HUD told them to stop the foreclosure. I sent confirmation of the HUD stop order to BA. BA ignored and sent email the HUD next day after foreclosure, that BA was denying HUD's request. HUD put a block on BA claims on the loan. So we are dealing with that now for who knows how long.
@Lisa Helweg I did ask the exact question in the QA window, along with many others. None of my questions were answered, Frankly, the webinar did not tell me anything I did not know. A waste of time. They need more time to honestly field the questions of the agent and explain what BA is doing to get its ship in order. Sure some mistakes are made by agents, but double or triple that made by BA.
I had two FHA fall thru as a result of pricing. If you get an offer first you may not get it approved. You are stuck with their price within the 84-88% guidelines.
I was told by one of the Twitter reps the other day that each FHA Phase II negotiator is handling a minimum of 300 files each. Im not doing an FHA SS with them, but a friend got a letter 38 days ago saying their P2 neg would be contacting them in 7-10 days and still hasnt, so while I was on the phone and had their ear, I thought I would ask why. THAT right there is the problem...they need more negotiators. 300 files for any 1 person is way too many to be productive.
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