One step forward two back

Well it is now past the start of the new revised version of the HAFA program and still the Banks are not changing or if they are it is sure not anything this writer can see or feels is an improvement.

I have a short sale going on with Wells Fargo and as usual the buyer walked and when it was reported to the bank, by by file, Mind you another buyer was sent to them at the same time. They say that they cannot just add the new buyer because it would not be fare to all the other people waiting their turn. I was told that the new buyer would be entered into the system and be reassigned.

Well when I called a couple of days later to see if it was in the system, yes they did receive but would be doing nothing with it because 30 days had past (32 to be exact) since I sent them the packet and their new rule is after 30 days paper work is out dated and has to be updated before the file can be assigned. by by file, 

In the past when you sent in your packet they would be good, in most cases up to 90 days, well now with their twisted idea of speeding up the process. the paper work is out of date after 30 days, all files are closed and sent to the o zone area till they are up dated, or time runs out and the home goes to foreclosure.

Banks think Realtors have nothing else to do but keep checking in to see if files are up to date, which now requires you to call about every other day, X lord knows how many files you have, because they do not inform you ever, that items are needed. Some Realtors are lucky and have an assistant to just watch their files but I would think in the times we are in now, that most Realtors do not have that privlidege.

No wonder Realtors on the whole run from a Short sale.

I am wondering how Banks hide these limbo files from the Auditor or whatever committee is checking on bank progress.

The new system looks good at first glance because all files with negotiators are being worked and all up to date and they are not over welmed because they have closed any file past 30 days. What a good system for the lazy negotiator, let the file get to 30 days then close it, boy what a great way to keep your work load down and look good to your boss who may never check all the files you have closed.

As I have said in past blogs, when you send in your full packet to the Bank it takes several days to get assigned and the negotiator who has 30 days to start working the file (B of A rule) and if the Negotiator is slow as most are, your file will be dead in the water before it even gets started.

Well if this is their idea of progress, I am truly afraid of what great idea will be implement next. 

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