Key Bank is an online lender.
Website: https://www.key.com/index.html
Members: 28
Latest Activity: Sep 20, 2017
MySpace
Tweet
Click the button to hire a Short Sale Agent Superstar in your area
Key Bank Short Sale Package 7-8-13
@KeyBank_Help
Phone# 866-736-0202 or 866-325-4765
FX# 216-370-5819
Send Key Bank Short Sale Package to:
FX: 216-370-5819
Their financial form and documents requested are in the attachments. If you receive a clearer form or any additional information please let me know at [email protected]
Started by Paula Johnsen Dec 26, 2013. 0 Replies 0 Likes
I am a little Frustrated with Key Bank. Per US Bank who is the first they need an intent to release before they will issue an approval letter. Per Key Bank they will not write an intent to release…Continue
Started by Christina ONeal. Last reply by Dean Ouellette Nov 22, 2011. 5 Replies 0 Likes
Hi Everyone,Anyone have that experience with Key Bank as a second (approved) would be great to know.Thanks,Christina Oneal209-565-1224Continue
Comment
I've got a short sale approved by primary mortgage holder who is taking a substantial loss, IRS agreed to release their $120,000+ lien since it is "valueless" and now Key Bank wants to be difficult over a pool loan that they have been paid back 50% of - remaining balance is $10,000 roughly. Any advice on how to get them to release the lien?
I have a Key Bank Short Sale. Is this Key Bank Short Sale Package still acceptable? This is my first Key Bank and if anyone has some feedbacks on how to work with them, I appreciate. Thanks.
Thanks, Rachael - good to know!!
Key Bank's idea of "working with" my sellers on their pool loan was to demand $6500 contribution. No ifs, ands or buts. I sent everything in just like a 2nd lien.
How is Key Bank to work with as a third lien? They have a pool loan on a home. They told the seller they'd work with him to release his lien. He is current. We are just starting the short sale.
The 1st must give them a letter, or statement in writing what their offered payoff is. I was able to present the "Approval to Participate" form instead of the actual approval letter, but that was probably from their lack of understanding that it wasn't true approval. Still working on the settlement. I've talked to several people along the way, some of these might be faxes. Try:
800-539-2968
866-325-4765 Risk Operations
216-813-7905 Michael Boburg called from this number (he gave us the letter without waiving deficiency)
Loss Mitigation - Peter Pozako (they're part of the workout dept.)
Workout Dept - Stanford Simmons (sorry no direct #'s for them)
I too have a 2nd (Pool) loan SS with Key Bank. I have the first with B of A (currently negotiating) and even called Key Bank initally to reconfirm that their policy was that they will not even look at a file unless the 1st approval is already secured. They told me not to send anything unless the 1st was already completed and we had a written approval letter "in hand" not verbal to submit with the paperwork.
Will share again, when I get the B of A approval sent to Key Bank and see what happens as far as time lines and terms of their approval.
Hello :) Does anyone have an actual contact at Key Bank? I have taken over a file mid negotiaton... KB is the 2nd, wanting an Approval Letter from the 1st to move forward.. US Bank (Freddie) is the 1st, wanting Approval from the 2nd to issue theirs.... I need someone who knows what they are doing over at KB to issue the Approval Letter.. any suggestions??
Christina and Justin - did you ever have success with that? I'm dealing with one now and at mid-escalation. Have reduced the settlement $13k under what was originally explained, but with that settlement we're asking for waiver of deficiency. We'll see I guess.
I wanted to share my recent experience with Key Bank in 2nd position.
They absolutely wouldn't budge on reviewing the short sale without the approval from the 1st. They also required a quick conversation with the borrower to state that all short sales are lien releases only and are not a satisfaction of the debt. I was nervous because the 1st (BofA) would only allocate 6% of their UPB.
Once we got the 1st's approval, we sent it to Key as they required and they originally told me 2 weeks for processing and I knew this would be a tight closing time-frame for our buyer and so I kept pushing. Needless to say, they just took what they were being offered, and issued a lien release only approval letter in less than 3 days. They tell me that settlements are only negotiated with the recovery dept (SS dept can only do lien releases) and they prefer to do those negotiations separate and after the short sale has closed.
I can share a redacted approval letter after this closes.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.
You need to be a member of Key Bank to add comments!