I just wanted to vent today and get anyone's opinion or experiences.
For the past month I have been working on a short sale transaction. What an interesting month this has been! First off the lender that I am dealing with is a subsidiary of Bear Stearns. I was concerned if this was going to be a potential problem or not. Over time I have come to realize that this lender was always a mess even before Bears monumental buyout.
When I first started out with this lender I did the usual procedures. Called the lender, got the run around with different departments, wrong fax #'s, one person saying they got my package and another saying they didn't, re-sending the package etc. etc.
After dealing with them for 2 and a half weeks I called one morning and was told that the account had been handed over to a collections agency and I would have to work out the sale with them. Okay no prob right? I contact the collections agency and of course they did not receive the file that I was told was forwarded to them. In effect I had to start all over with these guys. After dealing another 2 weeks with the collectors I get a call yesterday from the original lenders mitigation dept. asking me where certain documentaion was. I told them it has all been sent to the collectors whom they told me they turned the file over to 2 and a half weeks ago. The lady on the other hand told me that wasn't so. Long story short......she starts screaming at me and trys telling me that I have it all wrong and have no idea what I am doing. After assuring her that I know exactly what I am doing and gave her proof that they sent me to negotiate with the collector she went ballistic. I was told that I was to deal with only her from now on.
Now I have wasted over 2 weeks of my time, the buyers time, and my clients time all because this particular lenders mitigation dept. is a complete mess and has subpar communication skills. I understand that they may be overwhelmed and stressed out, but that is not the way to work with me to get at least some of their money back! Due to their time wasting and incompetency, this deal may now fall apart and the home has a chance of going to foreclosure, in which case these guys will get NOTHING!
I have not always had this experience with lenders. Some of them are actually quite good and a pleasure to work with.
What has been your experiences lately?