Information

SunTrust Mortgage

This group is for information, tips and solutions for Suntrust Mortgage short sales.

Website: https://www.suntrustmortgage.com
Members: 369
Latest Activity: Mar 8, 2019

SunTrust Short Sale Instructions for Agents

 

Fax Letter of Authorization to: 804-291-0748 ATTN: Research

Loss Mit Direct# 800-443-1032

1-800-634-7928, then option 5, then ex 58791

EM for fast SS package set up:  [email protected]

The Short Sale Phone Team reviews the mortgagor's financial
information and completes short sale counseling.

Home Preservation Client Representative 855-223-4680 FX 877-589-0755
 
Fax the complete Short Sale Package to:
804.675.7399, Attn: Loss Mit/Setup.

HELOC Short Sale Packages must go to FAX: 804-674-0507 (Consumer Loans for Equity Line)...these loans will be about 16-17 digits long, not 1 mortgages where the loan numbers are only 10 numbers long.

 

Suntrust Short Sale Package

 

Suntrust Letter of Authorization


Suntrust Equity Accounts Short Sale Info

Suntrust Package - Other

 

Escalation Information

***PLEASE DO NOT ABUSE THESE CONTACTS. IF WE DO THEY WILL DISAPPEAR.

This information is being provided to use as a courtesy. Please treat them with respect.


[email protected] - Supervisor Loss Mitigation for Freddie, Fannie, FHA, VA and priv loans.
[email protected] - Supervisor over SunTrust Mortgage Portfolio Loans with

Grace Taylor (also supervisor over call team) 804-291-2497

Steve Entwistle [email protected] is Supervisor over Consumer Home Equity Team

[email protected] 

Discussion Forum

Updated contact information

Started by Michelle Ashley Jones. Last reply by Donna Marie Cantrell Dec 30, 2014. 1 Reply

Suntrust Email for Package Set Up within 24 hours

Started by Evelyn Broxterman. Last reply by Donna Marie Cantrell Dec 30, 2014. 22 Replies

Comment Wall

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Comment by Michelle L. Dahl on November 29, 2012 at 9:54am

Hi All,

 

Just wanted to know if somebody to help me or shed some light on a Short Sale issue I'm having with Suntrust.

 

Unfortunately, I'm the Buyer's agent and I don't have contact with the bank. The Listing agent required my Buyers to do all their inspections upfront so she could send them into the bank. Fine, did that. The Listing agent is using a title company to handle the processing of the short sale. The problem is, we've been under contract with the Seller for over a month. I finally got a status update back from the processor at title and she told me a negotiator has not been assigned to the file yet. Is this common? Is there a way that somebody at Suntrust will talk to me even though I don't have 3rd party authorization from Seller as I'm the Buyer's agent? I understand that it takes a while for banks to get back to agents and/or processors. However, my concern is if whether or not the Seller has completely filled out the short sale package in it's entirety and continues to provide the processor with documentation the bank requests in a timely matter. The Seller is letting his sister live there as a renter so, he may have some motivation to delay our transaction. I don't what my Buyers to be waiting for 4 months or long if the Seller's intention is just to drag his feet and delay the foreclosure sale. Is there any department at Suntrust that would just verify for me that the Seller has submitted all necessary documents? Is there anyway I can find out who and when a negotiator will be assigned? This is my first time working with Suntrust so, any and all advice would be greatly appreciated. :-)

Comment by Helena Kaucheck on November 4, 2012 at 8:15am

OMG!!!  Approvals received.  I have to say, that now that I have it and am reviewing it, SunTrust's approval is so far painless.  I just really really wish, they have the ability to connect and link the SPC with the Negotiator/Underwriting department more fluidly.  While we did get our approval, I'm sure I was a royal pain to them and very limited help to ease the anxiety for the seller during this process.  If only SunTrust can be better at communication.  Otherwise, I'm really grateful. 

Comment by Helena Kaucheck on November 2, 2012 at 6:08am

The story continues......So now we are in a Finalize decision phase with SS approval from first.  What does that mean?  Supposedly, first has prelim approved SS but SunTrust needs to have team review, issue letter then have second author their approval?  I'm so confused......

Comment by Ben Benita on November 1, 2012 at 6:53am

contact me at [email protected] and i can tell you exactly how to find out who the Investor is.

Contacting THEM directly will solve 99% of any short sale issues!!!

Keep fighting!!!!

Comment by Helena Kaucheck on November 1, 2012 at 6:41am

I am at the point where I want to fly out to SunTrust and sit there until I get an answer.  Have a SS that's been out there for 92 days.  First told that an approval would reach us by 9/28 then it got bumped to 10/28.  With Hurricane Sandy and SunTrust being in Virginia knew I would not see anything that day.  On 10/30 called and told by the backup for my SPC that we have an approval on the First which is an outside investor, but waiting on management for the jr. lien which is SunTrust. I asked to have it confirmed twice.  Today, called SunTrust and asked for update on the SunTrust jr. lien and told that they have approval on the Jr. but not First.  I am so so so frustrated. Of course, no answers from the negotiator on this.  Anyone ever call the investor on these before?  I am so so tired and the seller is at their witt's end.

Comment by Wendy Rulnick on October 31, 2012 at 9:08am

@Catherine Myers - what is going on with that?

Comment by Wendy Rulnick on October 31, 2012 at 9:05am

Well, in the race between Suntrust and Bank of America approvals, Bank of America just won on this particular short sale in Destin! I have a senior Suntrust and junior BOFA. I had BOFA approval today, 60 days after submission, with a full waiver and REDUCED request for settlement (one of the only times I've ever seen that). Suntrust has not even ordered its BPO yet - 60 days later. It's not even in "SET UP". They keep stating they don't get our faxes, etc etc.  Come on, Suntrust.

Comment by Ryan C Sanford on October 26, 2012 at 4:06pm

Hello All- Would love to tar and feather a SunTrust Negotiator right now. I have about a $750,000 (can't give specific as it is not closed) contract and I have both sides of the deal. I expected a cut to 5% from the 6% listing agreement, plus it states as per SunTrust's Short Sale Guide and having done several before that dual will get a max of 5% and have collected this each time, but I just got an approval today and the commission lines on 1st and 2nd were $0. I thought this must be a mistake, right? I emailed and called the negotiator, she called back and said "since the sellers are not a hardship that I needed to get my commission and a $30,000 seller concession paid by the seller at closing", on top of that; no seller closing costs. My argument is; if it wasn't a hardship- then why did you approve the short sale in the first place, Moron? Of course I didn't say that, but I was sure thinking it... Has anyone experienced this before, as I am fuming right now to say the least? Keep in mind that our median house price here in Richmond is around $200K. The Negotiator's signature line reads "High Risk Department". Any advice? Any high up contacts at SunTrust? Thanks for your input in advance!

Comment by Catherine Myers on October 12, 2012 at 11:44am

Ok! here's a new one on me. Been going through a short sale the last 2 months. Assigned a rep, all seemed to be going as well as it can go with Suntrust, until thsi week.  I call and the file has been closed as the loan is showing -0- principal balance. No balance owed.  What?  And Weds and again today, they verified, loan shows no balance owing?  What in the world could be going on? Anyone ever have this?  Has any of the supervisors above ever been helpful in moving a file along?  How messed up does it get when they start a short sale and then it becomes -0- balance?  WEIRD!

Comment by Catherine Myers on October 5, 2012 at 10:01am

Mine is still going so slowly.  We finally got assigned a new person ... but it's been 2 weeks and still no word and this person is never available and the system says press 1 to see if a back up available, which there never is. I've left messages. Nothing.  Some things never change.

 

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