Comment

Comment by Stephanie Hart CA 310-930-2342 on January 3, 2013 at 8:46am

Tyra... Usually the BPO is ordered prior to assigning a negotiator. With US Bank you have an acct manager. They can try to move the file forward have you talked with yours?

Comment by Tyra General on January 3, 2013 at 8:06am

Happy New Year! We started a short sale with US Bank a couple of months ago and they still have not moved forward with ordering the BPO. If anyone has great contacts at the bank, it would be greatly appreciated. 

Comment by Melinda Speth on December 11, 2012 at 11:28am

Thanks Michael.. yes, they will release the deficiency, for an amount that the Seller is unable to come up with unfortunately.  This is where I am stuck.  Back to the trenches at Key Bank!

Comment by Michael Hayley on December 11, 2012 at 7:50am

Requiring the 2nd to release from deficiency is common. Negotiate for the deficiency release. What will it take to get the deficiency release? What do they want? ...will supervisor action work? Note payable? Cash? You dont have a deal until you get he deficiency released from all liens. 

Comment by Melinda Speth on December 11, 2012 at 7:21am

Hi there!  I am having a serious issue with US Bank.  They are holding the Approval Letter hostage, until the 2nd (Key Bank) releases their Deficiency.  We already have their Approval to Release the Lien, but they are unwilling to release Deficiency.  Has anyone ran into this, or found a way around it??  We are right there...

Comment by Stephanie Hart CA 310-930-2342 on December 7, 2012 at 10:18am

Just a quick update... Been involved in a US BANK SS for several months. I had 4 buyers walk but the negotiator was actually amazing! Returned calls promptly was located on West Coast/same time zone and upfront about their system what they needed. She let me substitute buyers 2x. Then closed out file but let me resubmit and got me a new approval again w/in one week! Painless on the bank side...not the buyer side. Closed it yesterday! All communication by fax but I got her email from a CS rep and she would respond when emailed!

Comment by Stephanie Hart CA 310-930-2342 on October 16, 2012 at 2:40pm

The relationship managers can add notes but don't do much! You can call customer service and get the contact # for your negotiator. It took a few tries but I got it (and the email). My negotiator will not email me but will call me back within 24-48 hours! I actually really like her! Ha

Comment by AnaLee Schnell on October 16, 2012 at 12:13pm

I have a file that was initiated on 9/21. I had to wait for a letter to be mailed to the seller with the name and phone number of the relationship manager before we could call in and talk to anyone on the file. We finally get the letter and call into the relationship manager and he knows absolutely nothing. I am not allowed to talk to a processor, he is not allowed to and doesnt even have any information on the processor. He can only see the notes. So far they have done "legal reviews" and checked for a Jr. Lien and we are almost 4 weeks into this. The BPO hasnt been ordered ..nothing. I asked who holds these processors accountable.. the relationship manager couldnt tell me that and had no supervisor he could ask or I could talk to. . This is the most crazy ridiculous nonsense I've seen with a bank. They literally leave these relationship managers to the sharks because they dont know anything about short sales and they have no one they can talk to or refer a call to. Someone please help I need some contact info to someone that can help with moving my file forward and hold these processors accountable.. maybe escalations department?

Comment by Elise Fay on October 1, 2012 at 4:44am

I always double check phone numbers when starting a short sale.  I just called US Bank and they Would NOT even give me phone numbers.  They said they need the borrower to call in to either get that info or give me authorization to even get a phone number.  I am not getting a warm and fuzzy!!!

 

Comment by Tyra General on September 22, 2012 at 8:36am

Has anyone been told that US Bank will not pay closing costs on short sales? If you have a deal where US Bank gave closing cost assistance, about how much was it? 

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