Location...Location...Location...

Most of you might think from the blog title that this is going to be a conversation about how the homes location is really what gets a property sold. Well that is another post for another time.

This post is about Mortgage Companies and how they are broken up into multiple locations and sometimes (most of the time) the right hand doesn't know what the left hand is doing. Sound Familiar? If you deal with any mortgage companies then it should. In this case we are going to be talking about short sale processing and today's adventure but this story can really apply to, loan modifications, foreclosure postponements, forbearance plans, short refinances and just about any foreclosure assistance programs that you can put your mind around.

We started processing a short sale with Washington Mutual (WaMu -- More Like WaBoooo), where as always we submitted a complete package with the HUD statement found directly in the middle of the entire 70+ Page packet, which somehow went missing. We submitted it, submitted, and submitted, finally to be confirmed on 11-20. Now at that point in time we followed up on 11-21 where we were told that the items had been received and that the account would be assigned to a negotiator in 1 weeks time. There was a sale date at this point in time (12-3) and we were advised to relax that by that point in time it would make it into the "openers" hands. Well we call the 25th. Still no opener. We were told again not to worry about it. Ofcoarse witht he long weekend at hand and an expected drop of the ball on Washington Mutuals part we requested a postponement of sale. Denied. We would need to call back 12-2 to get it postponed. So we did. On 12-2 we contacted the lender as advised at 9 A.M. PDT and was told but a wonderful agent that there was not issue she would put a rush to get the account assigned to an "opener" and they would postpone the sale date as a BPO was set to be ordered. She states, " Call back in a few hours just to make sure it got done." A little strange of a request but we complied and called back in the early afternoon.

At this point in time we are fairly pleased as we are under the assumption that sale date was being postponed. We called just to double check the foreclosure postponement has been completed. BUZZZ, WRONG. In fact at that time the agent we spoke to states that there were no notes from the previous conversation and the continues to advise that he would need to put us on hold. Now to the title of this post. We had been speaking to the Jacksonville, FL office at this point in time along now with this second agent who just put us on hold. The phone line begin to ring and, "Thank you for reaching Washington Mutual, Can I have your account number please?" We'll perplexed at this time I ask on a whim, "What location am I speaking to?". "Chatsworth California" She responds. At this time the previous representative from Florida where the file was being processed had transfered me without notice back into the Q.

Now, by the graces of our bad luck the California Location for WaMu states that they can not work the file any longer as another department has already started working on it. Rediculous. So the idea is that if one department started working on it and there is a sale date for the next date no other department can handle it! Well after pushing and pulling and speaking to 3-4 representatives we get advised that at this time to postpone we would need to send in again, the purchase agreement, the HUD, and a formal and FINAL approval letter. I ask," I have a pre-approval letter that was sent in will that be acceptable". "NO" comes from the other end. At the this part of the evening they wanted us to come up with a full approval letter. So at this time it's gone past 5 P.M. PDT and what started off as a done deal ended up as a dead deal.

Here at Absolute Consultant Group, it's not done, till it done. With remote access I get up this morning at 5:30 P.M. PDT and call on the WaMU file. Attempt to get ahold of the Jacksonville office. And I did. I got the ball rolling and had the agents we had spoken to following up on the e-mails that were supposed to be sent out. 4-5 Managers later, we get a call from the "opener" stating that the sale date has been stopped and the that the appraisal company would be calling us shortly. This battle is far from over but it is important to note that you must ALWAYS know who you are talking to. The average homeowner would have given up a long time ago...We're glad when we can be of assistance.

Best of luck to everyone and if you need someone to help process your short sales...Let us know.