Citibank starts Short Sale Process on Short Sale Agent's House by mistake??!!

By
Real Estate Agent with Coldwell Banker Solano Pacific BRE #01474067

Your mouths may be hitting the floor as mine did this morning after chatting with a one of our top agents at Solano Pacific Coldwell Banker office in Benicia, CA.  I asked if I could blog about this and she said "sure...tell the world".

This agent has a listing in Benicia, CA that is a short sale and the bank is Citibank.  It just so happens she also does business with Citibank on her investment properties.

All experienced Short Sale Agents know that we put many hours of effort in making the paperwork as precise as possible when sending into the bank.  She dutifully put the loan # on all 183 pages in the top corner.  Her name would only appear as the listing agent and authorized person for the bank to speak with.  So she had all her i's dotted and t's crossed.  This was two weeks ago.

This week she gets a call from Citibank asking to do a BPO for one of her own personal investment properties.  And then they called again on her other investment property.  UH?! She is scratching her head and said why is this happening? To say she was dismayed, and maybe even a little perturbed is an understatement.  And more so from the fact two weeks have passed on her client's short sale and nothing is started!

She gets to the bottom of it......Citibank thought SHE wanted a Short Sale!

Warning Will Robinson! Warning!  Is this the new wave of the future that a bank will check out if WE have a loan with them and confuse the short sale process? 

Benicia Short Sales

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***************************************************************************************  Melanie and Jenny reviews

Coldwell Banker Solano Pacific

Call or Text Melanie - 707-319-2828

Visit Real Estate Made Simple for more information about Homes for Sale In Benicia, Vallejo, Green Valley, and Napa. Melanie provides information and options to assist distressed homeowners in today's real estate market.  In addition to understanding the real estate transaction, seek professional tax and legal advice if your plan is to short sale your home.

"Local Expertise-National Exposure"

Melanie Ross Benicia Realtor

 

Melanie Ross Short Sale

 

Please Read:

Coldwell Banker Solano Pacific is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating. 

Comments (66)

Bernadine Hunter, SFR, ACRE
Keller Williams Greater Columbus Realty - Pickerington, OH
"Finding Solution to Your Real Estate Needs"

Anything that can happen will happen. I'm usually not surprised, but this one really makes you wonder.

Sep 28, 2010 05:16 PM
Dawn Maloney
RE/MAX Trinity Northeast Ohio Real Estate Specialist - Hudson, OH
330-990-4236 Hudson & Northeastern Ohio

Doesn't surprise me in the least...I had one where the bank thought the loan number was the bank's net - try straightening that out at the last screeching second before closing - unbelievable!!!

Sep 28, 2010 05:27 PM
Patrick Harfst
Realty Executives - Phoenix AZ - Gilbert, AZ

She will crawl thru a Shawshank Tube to get that mess corrected! Absolutely incredible! Wonder if they left a mint on the pillow?

Sep 28, 2010 05:38 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

I'm amazed that they were able to pull it up by her name and not by the loan number.  I guess they didn't notice the loan number or the authorization sheet from the seller?

Sep 28, 2010 06:17 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Melanie:  Having worked with Citi, I know that is a requirement to have the loan # on every page.  Looks like they don't pay attention to their own rules.  Goes to show they don't need all that extra stuff.  They just say they do to make it more difficult.  That is really awful they would confuse the agent with her clients who are Citi's customers!!!  I hope they remedy the situation.

Sep 28, 2010 06:27 PM
Rama Mehra
Asante Realty - San Ramon, CA
TOP 1% REALTOR IN THE TRI-VALLEY

This is quite insane but does not surprise me since they have untrained hires working their short sale departments

Sep 28, 2010 06:50 PM
Allison Stewart
St.Cloud Homes - Saint Cloud, FL
St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904

Something about this does ring right- If the paper work is all in order, it should have been very clear whose loan number they were handling...oh but wait... it is a short sale...and of course the highly trained, "expert" who is handling the case file is a professional...yeah right... never mind it all makes sense now.

Sep 28, 2010 10:42 PM
Miriam Bernstei
Rochester, NY

Idiots

Sep 28, 2010 11:45 PM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Another black eye for outsourcing to India. .someone should contact their embassy!

Sep 29, 2010 01:15 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Melaine, this is why constant follow up with the bank is necessary.

Sep 29, 2010 01:51 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Melanie....

First of all I am enjoying all the comments. They are top notch. Of course this comes from a good post...thank you. In the end, it is a person who does or does not do......whatever it is. Amazing how you can go into a banks branch, and they have a huge push going on for customer service and ASK US HOW WE CAN HELP slogans. But, their other hand is busy chopping people off at the knees......

Sep 29, 2010 03:12 AM
Terri Adams-Scott
J. Rockcliff, REALTORS - Walnut Creek, CA
Realtor, Walnut Creek CA Real Estate

If it doesn't get settled, this sounds like it might be a good one for Michael Finney with 7 on Your Side!  (Since you're local, I know you'll understand it).  Best wishes in getting it cleared up!

Sep 29, 2010 03:21 AM
Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

That sounds preposterous. Why would they look her up and not go by the property address within the paperwork? Someone's reading between imaginary lines...

Sep 29, 2010 05:12 AM
Derek Wood
Marblehead, MA

Yikes. Nothing is shocking anymore though.

Sep 29, 2010 05:21 AM
Simon Mills
Mills Realty - Toluca Lake, CA

Another example of how inept the banking system of our country is.  Either the employees are not being trained or they are simply not qualified to do the job.  Either way something has to change.

Sep 29, 2010 07:10 AM
Gina Chirico
Lattimer Realty - Fairfield, NJ
Real Estate Agent - Essex County, New Jersey

Melanie, after the post the other day about BOA foreclosing on a home paid for in cash and now this!!!  What is going with these banks!  I know that they are overwhelmed but they need to hire people who know how to do their jobs!!!!!  That's my biggest pet peeve in life -- when someone doesn't know how to their job!!

Sep 29, 2010 04:00 PM
Ann Dail
Baton Rouge Area Homes, Louisiana, USA, 225-761-0551 - Baton Rouge, LA
Broker/Realtor,CRS, ePRO, SRS, B.A.Chem

In this electronic, impersonal world evolving, if a wrong name or number is picked up in a computer, it's not surprising.  Just one more thing to watch.

Sep 30, 2010 08:28 AM
Melanie Ross
Coldwell Banker Solano Pacific - Benicia, CA
Benicia CA & Vallejo CA Real Estate, 707-319-2828

To all who have commented...thank you very much!!  Needless to say the agent said her client was none too happy this happened as it took two weeks away from her package.  But knowing this agent she is on it stink on poo.

Sep 30, 2010 01:53 PM
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

We have BPO agents call us all the time confusing the seller and the Realtor. Sometimes they're so convinced it's an REO they can't wrap their minds around the fact that there is a seller or that someone is living in the property.

Oct 02, 2010 03:20 AM
Melanie Ross
Coldwell Banker Solano Pacific - Benicia, CA
Benicia CA & Vallejo CA Real Estate, 707-319-2828

Yesterday in our sales meeting the agent related her story to the office.  She said she thinks what what contributed to the fiasco, was her name was featured prominently on the fax cover sheet.  Her story had everyone speechless!

Oct 02, 2010 04:45 AM