Bank of America, please suprise me!!
I am disgusted, disappointed, outraged, frustrated, and down right livid over an Equator short sale transaction. The one thing I am not is suprised as this happens too much and too often, let me explain:
I have been told repeatedly the file is in "legal review", you will get your approval today, etc.
Today, the Negotiator told me to resubmit the "ARASS with a close of escrow date", this was done a month ago, also that the bpo is 90 days old and we need a new one!
Everything done, QA reviewed, team lead reviewed, and now we are getting a new bpo??????????
I am asking the twitter team to try to help, any other ideas?
Replies to This Discussion
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Permalink Reply by joe beauchamp on
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You need to chill. Parts of the system are just that - investors frequently require the BPO to be in place and your negotiator will cut your closing date short even after approval to avoid doing a BPO the day of the closing - just 'cause it has to be there. (No, it is not at all logical, just a rule.)
When you say ARASS, I assume HAFA and that adds stupid politician rules and a whole layer of bureaucracy, usually. At BofA, that also means yet another company which talks to you but is not allowed to make any decisions.
Throw that in with the new Equator (people who cannot be bothered with actually testing it before unleashing it on everyone) and you should be living on cloud 9 with the little bit that has happened to you.
Don't consider "the bank" as a single intelligent entity - it is not. You have a ton of people going in different directions and a ton of rules by the investor and more by the bank's legal dept. Mostly, the best thing to do is roll with it and try to move on in the fastest way possible.
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Permalink Reply by Louise Dela Cruz on
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I'm glad I did not "chill", it's not my style.
As a result of my finding this particular issue unacceptable and my reaching out to the twitter help people I received my approval! The team made an exception and this was closed. -
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It's nice to see something make it through their gauntlet. I spent much of yesterday trying to get a pulse from FHA/BofA via office of the president, home detention, etc. And, as a BofA Joke, some overachieving "specialist" rejected an Equator file for "no authorization submitted". Really? Like you can successfully go to the next inquisition page w/o actually submitting a file where it demands the authorization form? Interesting how you cannot go back and see what documents they say you submitted to a task.. Yeah, a swell day yesterday. So, it's good to see someone get good results. ;-)
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SMh, we never know what the day will bring with these deals, sorry it was not a great one for you yesterday pal.
Shake it off, and start all over, eventually they close.
Enjoy your weekend!!
Cheers,
Louise
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