Just heard from Suntrust - our BPO came in $17k under our offer and they have moved it to Fannie Mae for approval - now I wonder if they will reduce the contract price for the buyer? BOA just did that on another file.
So Submitted 2/25/2011
negotiator assigned 3/4/2011
BPO back 3/21/2011
Next step Fannie approval - I SAY THIS IS PROGRESS!
Melody... I see no responses. I too am lost in one of Suntrust's 7 levels of hell and cannot get my file assigned to a negotiator. They have had the paperwork, listings, contract and financial information since Oct. 19. There is supposedly a new system with a single point of contact. However, out SOP has not been helpful at all. I was assured we would be assigned a neg. last week. I called in for my weekly update only to be told our file was not even in Loss Mit. because the financials had not been updated.
Anybody have any advice or contacts to escalate?
Remain diligent with them as it took about 3 months to get a negotiator, but finally got what was submitted in June approved about 4 months into it. Once you get a negotiator you will be able to communicate directly to them which is a lot nicer than some of the banks. Good luck to an approval in the new year for you:)
Thanks Melody. But ALAS they have put in a new system with a single point of contact and I will not be able to ever communicate with the negotiator directly. I thought I'd done it all with Bank of America long before Equator....but back in the fray! Appreciate the information and may just whine on occasion.
try going to your local suntrust rep...Daily calls help
Hi ladies, I just sent in my 3rd party authorization and the complete hardship package to Suntrust on Monday. I have never even heard of this particular lender, and when I just read all these comments, I felt very disheartened.....however, I wanted to see if you have any step-by-step suggestions for me. their 800 number keeps me on hold until I finally input my phone number, but I am not optimistic about anyone calling back, ESPECIALLY now that I have read your emails. Help! I have just listed this property, no offer yet, but will get one real soon I think
I contacted the investor (Bank of America) directly. I got hung up on then a nasty call from suntrust but it miraculously got approval the next day.