I have a HAFA short sale where BoA is the 1st and Chase is the 2nd.  We have an excellent offer and HAFA approval.  Chase has agreed to participate in HAFA short sale and release the 2nd for $6000.  Everyone is in agreement.  Sounds great right?  Wrong.

 

Chase will not provide a release letter without formal approval letter from 1st.  BoA cannot give the formal HAFA approval letter without 2nd release letter.  We have provided a BoA watermarked "unofficial" approval letter to Chase, along with other documents showing the homeowner is in the HAFA program.  BTW, our file at Chase is being handled by ACG (Ascension Capital Group). 

 

I have worked this file all the way to the president of Loan Resolution (who handles HAFA files for BoA).  He assured me they cannot send the official HAFA approval letter prior to receiving the 2nd release and remain within the Treasurey Dept guidelines. He has offered to do a conference call with someone at Chase to try and resolve the issue.

 

Does anyone have an executive level contact at Chase or contact information for a resolution dept, etc.?  I have found the best way to get action at BoA is to go through their twitter resolution team, but have not been able to escalate effectively within Chase.

 

Any help would be greatly appreciated.

 

Thanks.

 

 

Tags: America, Bank, Chase, HAFA, of

Views: 283

Replies to This Discussion

Tonda,

 

I take my files to the CEO, Jamie Dimon. His email is:

Jamie.Dimon@jpmchase.com

 

Of course he will not call you, however you will get a call from their corporate resolution team who will be able to help yhou from there. The last time I did this, I received a phone call within 2 hours of sending the email.

 

Good luck!

 

Regards,

 

Jill

 

Thanks Jill.  It's certainly worth a shot!
IT WORKS!

Contact CEO Jamie Dimon's Executive Team at  212-270-1111.

Thank you Phyllis.
Thank you sooo much for the information.  I am suddenly having the same issue - they don't like our letter and mine is with Tait and Kirlin.  Verbally they will take the $6,000 but keep rejecting our HAFA letter.

Hi Debbie,

 

Sorry to hear your HAFA is suddenly having the same issue as mine.  If I get anything resolved I will fill you in. 

 

I just spoke with someone at Chase and they are saying BoA has self imposed the guideline where they won't issue an official letter.  Both BoA and Chase continue to point the finger at each other and no one will get this resolved.

 

Very disappointing.  The poor seller and buyer deserve better than this.

Tonda,

Do you know who the investor is on this loan? I have had good results going to Fannie mae and Freddie Mac directly when having issues like this.

 

Hope this helps!

SUCCESS  After getting help not only from Jaime Dimon's office at Chase and corporate office at Bank of America -my file is closing tomorrow.    BA actually had more to do with it than Chase.  The person at Tait & Kirlin that was handling the file refused to call back the person at Chase who was trying to help me.  Said (and I quote)  I don't have to talk to him, he is not the person I am dealing wtih!   He actually refused to talk to the senior negotiator from Chase. That is when I got corporate BA involved.  She got an authorization signed by my client authorizing her to talk to Tait & Kirlin, managed to get a copy of the approval letter from whatever department at Bank of America that issues the letters, personally emailed it to Tait & Kirlin.  I had my approval letter the next morning.  She accomplished in 48 hours what I had been fighting for 3 weeks.    It is such a shame that we have to go this direction just because some jerk is on a power play and that is all it was.
THANK YOU!!!
I have had the most difficult time with Chase on a high-end short sale in Santa Monica. This "high balance" department has been insistent on foreclosing, unrealistic on values, and rejecting every offer we send them. They were trying to coordinate cash for keys with my seller prior to the sale date of 9-27-11.
Trying to find an executive contact, I came here, and used the info Jill and Phyllis provided. Later in the day, I received an email from the seller's that the foreclosure has been postponed until 11-14-11. Now to approve the short sale, and close this monster.
Thank you so much!
Cheers,
Kim

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