Wednesday & Thursday were filled with so much B.S. from Bank of America, I didn't know whether to laugh, cry or get a shovel.
Of course I got angry, and maybe I wasn't very nice during my conversations. My office admin has a box full of unused phones on the floor next to me, just in case I break mine. They should make rubber phones for these type of circumstances.
At least I have the full poop, straight from the back end of the cow. And a full scoop of poop it is.
First conversation went something like this...
The reason your clients sale was denied was because you were repeatedly requested to submit a signed tax return and the efile confirmation, as well as a signed explanation of why the tax return showed a $678 refund on line 10. And this efile confirmation you submitted only has one name on it. And just to clarify, there was no REPEATEDLY to it. I was never told anything until after the deadline to close the file.
Well, if I didn't submit it, how are you looking at it? No answer to that question.
The signed tax return was uploaded into the file well before the deadline. It was there for a long, long time. The notification of missing documents and a closed file due to missing documents came almost 2 weeks after the deadline date. The negotiator said the person who reviewed the files after she did found that they needed a signed tax return (already there as I said before) and a signed statement concerning the $678 refund on line 10 and an efile confirmation, if the taxes were in fact efiled. And that was almost 2 weeks ago.
So, our negotiator had been fine with all the documents, but someone else looks at the file and says... NOPE, I want this and this, but time is up, you lose sucker!
I had called my client, got the efile confirmation sent to me along with a signed statement (by both Mr. & Mrs.( saying the refund was from the state of CT.
I tried to call the negotiator, left a message. Sent a message through Equator stating this was the first time I had been asked for these 2 documents. But here they are, just for your viewing pleasure.
I then called my customer service rep, but he was not available, however I got someone on the phone who took quite a long time to check on this for me. She could not get anyone from the short sale team at Stewart Lender Services on the phone either, but she escalated it. It was clear to her that these items had not been requested of us. She also noted the file was not closed out, so uploading them was the right thing to do. I should get a call back and all should be well.
NOT. There was never a call back to me from anyone. But the file sat open in Equator. And that was, as I said, about 2 weeks ago.
Some nasty person in the Short Sale department was telling me that I didn't submit the items needed, however he was READING through them. One he realizes that he is LOOKING at the supposed missing documents, he changes the story a bit and tells me the problem is that the efile confirmation from TaxAct only has one name on it.
Yeah, that's how they come, the primary tax payer on the IRS forms is the one whose name appears on the confirmation. I spoke to TaxAct myself.
And P.S., why are you worried about the efile confirmation anyway? You should have already used the tax transcript form to get your own copy. I mean really, it is a 3 day ordeal that is done electronically. You would do it for someone applying for a mortgage. I am sure you don't believe the copies anyway, so don't give me that load of crap.
So, I tried to escalate it again. The next person I was speaking to said he also could see that everything was in, but... it probably will stay closed despite an escalation. Nothing to be done about it. Perhaps you should just get a new offer, get your clients to update their financials, have your clients call and request another short sale (FHA loan), wait another month or more for approval to participate, update everything and start all over again.
My response was this. OK, I am tired of this. Every day my clients pray the baby will make it through another day. 6 months of hospitals, surgeries, specialists, praying for a miracle but knowing that at any moment he could die. I have a better idea.
I said I was going to contact the Attorney General's office in CT. They have a man assigned to look into questionable practices by lenders on short sales. I did that already, I am waiting for my call back. Then I told him I was going to start contacting TV news, any news people I could send the story to.
I asked him if he thought the public would love a story about big, bad Bank of America harassing a family whose infant could die at any moment. He admitted that they probably would, he would note that in the escalation file.
My guess is that nothing can really be done other than to see if the buyer wants to wait for another 3 or 4 month round of cow crap from Bank of America. I don't even know if my sellers are ready to go through another round of this, they have to focus on the important things in life, such as their baby. But they are onboard with me telling the story to anyone who will listen.
Thursday at 4:55pm I got a phone call from a woman named Donna at Bank of America. She told me I shouldn't worry, we were back in Equator with a new negotiator assigned. She made a point of telling me she called me before the holiday weekend because she didn't want us to worry.
That also was a load of B.S. We are not back in Equator.
ME? I am in it until the end, whatever the end may be. In the meantime, I award Bank of America with my most prestigious Cow Pie Award. They deserve it. They deserve much more than my Cow Pie Award, but that is all I can do right now.
Oh yeah, not that it really matters, but certainly Bank of America is off my list of recommended lenders to any buyers I have. They have been off for a long time, it is kind of a no-brainer.
I would rather shovel the business that comes out of the back end of a cow all day long rather than to deal with the business provided by Bank of America.
And that is my daily dose of B.S. from Bank of America.
Bank of America wins the prestigous Cow Pie Award for piling more crap on people's heads than 10,000 cows can make in one day! And that is quite a feat as one cow produces about 60 pounds of crap per day.
Andrea Swiedler, Realtor, Southern Litchfield County Real Estate
2017 President, Greater New Milford Board of Realtors
2017 Connecticut Magazine 5 Star Realtor
Coldwell Banker Residential Brokerage
Litchfield County Regional Office,375 Danbury Rd, New Milford, CT 06776
© Andrea Swiedler 2009 - 2017
Always do right. This will gratify some people and astonish the rest. - Mark Twain