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Why Does Bank of America Not Participate in Recorded Calls?

By
Real Estate Broker/Owner with KD Realty - 408.972.1822 CA DRE#01366594

Why Does Bank of America Not Participate in Recorded Calls? 

 

Image of a reel to reel recorder

 

Anyone can record this San Jose Short Sale Agent's phone conversations anytime provided I am informed the call is being recorded - that's the law. So, why does Bank of America not participate in recorded calls?  

The only one who can truly answer that would be Bank of America but that is likely not going to happen. My suspicion is that Bank of America does not wish to be held responsible or accountable for all of the screwed-up, mixed-up, bad, wrong, information it shovels out minute by minute, hour by hour, day by day, week by week, month by month and year by year.  

 

 

Man holding a shovel full of manure

 

After being served up a load of manure on Friday, July 19, 2013, in two separate phone calls from BofA representatives, I called the Bank of America Short Sale Department @ 1-866-880-1232 in an attempt to get either one of the representatives who called me on Friday to call me again.  

Of course, when I called the short sale department I advised Stewart, the person who answered my call, that "the call was being recorded for quality and general business purposes." Stewart immediately and in a strong firm voice began to advise me that Bank of America does not participate in recorded calls ... blah blah blah ... and that unless I agreed to terminate the recording right now, he would end the call. He then asked: Do you agree to cease recording?  Of course my response was yes.  

Bank of America could not find its butt with both hands.  After all these years they still have not a clue when it comes to processing short sales.  There is no accountability.  The call center reads from notes that clearly are not updated.  Stewart argued with me in disbelief that Eymi Hepner and Michael Walker said what they said to me when they called me on Friday morning.  

Seriously, I cannot make this stuff up! I have copious call log notes and believe it or not, they both said what they said.  Ironically, everything they said they would do ... has not been done. The file was initially managed by LRC (Loan Resolution Corporation) and turned back over to BofA last Wednesday because, as I was told, the first is a full payoff and it must be managed internally by BofA.  

I knew the first was a full pay off. I'd have to be dead or a complete moron not to know that. I flagged the file to indicate the first was a full pay off when I submitted the short sale. I also called the short sale department and asked that they flag the file internally so that when it was assigned ... the person it was assigned to would see the notes.

The person I spoke with said: "They will not be able to miss the notes."  

If that is true then clearly no one reads notes ... they just robotically go about processing files. 

So tell me why I received yet another welcome message from another LRC employee advising me that he is now managing the file.  Tell me why Eymi and Michael have not returned any of my phone calls. 

The answer is:  No accountability. No responsibility. Poor management. No customer service or customer satisfaction.  But what do I know?  I am only the agent/broker who spends countless tireless hours dealing with the BofA clowns and their servicers, none of whom have a clue, none of whom read, and none of whom return calls. 

Many lenders and servicers do record calls. Bank of America does not ... is there any wonder why?

Why Does Bank of America Not Participate in Recorded Calls? - by Kathleen Daniels, San Jose Short Sale Agent - San Jose Homes for Sale - 1-408-972-1822

 

  

 

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Comments(36)

Ralph Gorgoglione
Metro Life Homes - Palm Springs, CA
California and Hawaii Real Estate (310) 497-9407

Since corporations are considered "people" under the law, then exactly WHY then does the law not apply to BofA?

Jul 25, 2013 01:34 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Actually Kathleen... if you were on the phone with me I could record you and NOT tell you.  In Georgia it only takes the knowledge of ONE party to call.  I couldn't record a conversation between you and another agent in my office and then listen and have it be legal, but as long as one party has knowledge it can be recorded. 

Now as to BofA hahahaha, are you kidding me, they don't want anyone to have proof of what they really said.

Jul 25, 2013 01:56 PM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Kathleen, it seems majority of the comments had one common thing - BofA's inability to help us in short sales, though Kevin did mention he gets this done in under 60 days. May be, a help from AR member would help your short sale client(s).

Jul 25, 2013 03:04 PM
Brian Schulte
Allison James Estates & Homes - Sierra Vista, AZ
SFR, Sierra Vista, AZ

When a bank informs me that this call may be recorded I pipe in "I certainly hope so!"

Jul 25, 2013 05:27 PM
Michele Peterson
Sellstate Realty First - Roseville, CA
Sellstate Realty First

UGHHH...Bank of America!!  How can this one bank continue to cause hardship to so many in the US?

Jul 25, 2013 05:58 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I believe your suspicion is correct.  I have never heard anything good about Bank of America in the last 5 yrs.  It seems that everyone hates them and no one respects them.

Jul 25, 2013 07:22 PM
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

One more issue with BOA on the list of "many".....you're right, you can't make this stuff up!

Jul 25, 2013 08:09 PM
Marnie Matarese
DWELL REAL ESTATE - Sarasota, FL
Showing you the best of Sarasota!

They should just change the name of their institution to Bankrupting of America.  I don't understand how they are still in business and they trample roughshod over everyone.  I moved all of my accounts seven years ago and am glad to be done with them.  It was a hassle but I feel great not to have them in my personal life.

Jul 25, 2013 10:06 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kathleen, this is amazing!   Every business wants to record our conversations now, and one would think B of A would want to do the same.

Jul 25, 2013 10:44 PM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Kathleen, nothing BOFA does amazes me one bit. One hand doesn't know what the other is doing, though it was announced their SS process has improved, I've yet to see it. I've had some SS closings with BOFA that weren't so bad but that's not the majority. You could escalate on Twitter and OCC, may make you feel better but at the end of the day, BOFA is in control of their files!

Jul 25, 2013 11:14 PM
Donna Quanrud
Coldwell Banker Burnet - Eden Prairie, MN
Donna Quanrud Southwest Metro Homes

I love Carlas #13 comme3nt - same here in Minnesota.  If you tell any lender that you will also be recording they will end the call immediately - I know I tried it.  They want to be able to cut and splice recordings as needed for court, I guess!?

Jul 26, 2013 12:15 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Yes to this post and subject matter and B of A reminds me of the house in the Hansel & Gretel story. It was made of candy to attract people and then while they were munching on a fence post or part of the mailbox, a witch disguised as Mother Teresa shows up with dinner plans. This bank is forever trying to convince people it is not what it does....

Jul 26, 2013 12:31 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Rob, It is not against the law to record. It must be done with permission. Many banks do record. If I told a bank I did not want the call recorded  the call would end but consumers and agents working short sales don't have the option. 

Lenn ... I agree that banks don't want to do short sale.  As long as they hold their dog and pony shows going through the act of doing short sales, agents like me will participate because we want to help the homeowner. "They are processing short sales with the same degree of disrespect in which they hold all real estate agents who continue to bring them in." Well said. Yesterday was a horrible day for me on this one file. It nearly brought me to the point of not wanting to do another short sale. I was on the phone with this one file for 3 hours. 

Mike, They sure don't.  They are the absolute worse, IMHO.

Mitch, In the market we are in today ... banks are getting top dollar for homes. 

Michelle, It is one thing to spin ... it's the spinning and getting no where that makes me crazy. 

Lisa, I've heard the same.  I can email them but they cannot email me back.  What does that tell us?

Chris Ann, I think BofA was rotten prior to swallowing the Countrywide operation. 

Myrl, In many ways they are all still sticking it to us.  And will continue to because they can. 

John,  I called another lender and advised that the call was being recorded and I got an amazing response.  I got the help I needed. If they allow the recordings ... I am now recording calls. I've had too many people blow smoke up my butt and there is no accountability. 

David, Compliance issues, IMHO, means they are finding ways to not comply and cover their asses while they do it. 

Jimmy, I do believe the problem and the solution lies within the government and it's people. We need to vote and stop being so apathetic. 

Carla, I did not know that.  I thought the Federal law applied to all.  Interesting. Thanks for sharing that. Perhaps we can do a three way call. 

Joan, All that better than ever is their marketing.  They treat agents with such disrespect.  Lenn nailed it in her comment. 

Kevin, I thank you so much for your offer to help.  I escalated the matter yesterday. It is now in the hands of the LRC escalation manager whom I have dealt with in the past. If that fails, you have a deal. 

 

Jul 26, 2013 02:04 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Signature Homes, I will never forgot. I've moved all of my money to a credit union. I won't do business with a big bad bank.

Pamela,  Their crappy short sale department is no different. They are all the same. I don't know how anyone can do work like that and sleep at night. 

Ralph, Because BofA has their money in the deep political pockets.  

Tammy, Wow ... you are the second comment that said it only takes one person to have knowledge and agree to the recording. Carla in Oregon has the same law.

Praful,  I've had similar great success with BofA short sales.  It it when a servicer gets involved, like LRC that makes a BofA short sale like swimming up stream. 

Brian, When they say it to me I echo it back. "FCC requires me to advise you that this call is being recorded for quality and general business purposes." 

Michele, Because they hold so many loans. They are the biggest ... and we all know biggest is not best. It's just big.

Debbie, I hate what they do and how they disrespect borrowers and agents.

Roger, Two people laughed at me when I told them what Micheal and Eymi said to me.  Rude!  They were not on the call. Unfortunately the call came in on my cell phone and I could not record it. 

Marnie,  I was with Wells Fargo. I moved my money as well. It feels good on a moral conscience level not to be dealing with a big bad bank. It was a hassle getting them to give me my money! If I was such a valued customer then why did the rape me over wiring fees. 

Joan, BofA does not want their dirty business being recorded.  Its that simple.

Beth, BofA is out of control with their files.

Donna, Slice and dice indeed. 

Richie, All of their marketing and positioning is around helping people.  Bull Malarkey! 

Jul 26, 2013 02:18 AM
Glenn Freezman
Family Abstract, Inc. - Horsham, PA

Very tough to be sued without perfect documentation. 

Jul 26, 2013 02:54 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Bank of America clearly isn't a member in good standing of the Better Business Bureau - and likely isn't a member at all. They would have to have a separate BBB bureau to take care of their complaints.

Jul 26, 2013 02:05 PM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

It tells us that all of what they put consumers and agents through is just their idea of a joke!  LOL

Jul 27, 2013 07:23 AM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

No matter what bank we're dealing with, there will usually be a problem or glitch in the process. There are just so many different people involved, and any one of them can cause a problem. It could be anything, missing a deadline, listed too soon, missing initials, digital signature, multiple investors, buyer or seller not cooperating, doing things in wrong order, etc, etc. It can be frustrating.I wonder how bad it will get when BOA moves their mortgage business to India? And now they are transferring a lot of their servicing, so you could be near completion of a short sale only to find out BOA is no longer servicing that account, then you have to start over from square one. They are probably following advice of attorney about not allowing themselves to be recorded. I really don't care if they record me.

Jul 28, 2013 02:02 AM
The Villages Realty
The Villages Realty - San Jose, CA
"Our Performance Will Move You!"

Great post.  You always write such good and interesting stuff.  Thanks. 

Jan 09, 2017 05:15 AM
Eagle Ridge Realty
Eagle Ridge Realty - Gilroy, CA
"Our Performance Will Move You!"

Another wonderful post by Kathleen.  Thanks for your posts.  I read them daily.

Jan 10, 2017 06:53 AM