Dear Mr. President...of Bank of America, sir (Brian T. Moynihan, CEO)...
I would like to know (as I'm sure a few other REALTORS(r)) why your promise to close short sales in 60 days has become a nightmare of 5 months or more.
It's not Equator (Christopher Saitta, CEO), as the CEO has reached out to me and has offered any help on the technology provider side (and has) to help if there are problems on that side of the deal. That is not the problem!
Your banking system regarding short sales the way they are currently working is COSTING your bank money. There are about 8 people involved in approving a short sale. Because it takes so long, we, as REALTORS(r) are being asked over and over again to keep providing updated material. After all, it's not taking 60 days to close a deal - let me make it even easier, to get approval to close a short sale !!! IT IS TAKING FOREVER!!!
I'm very sorry sir, but your not holding up to your promises. You are not providing us real estate professionals with qualified personnel on your side to enable a reasonable closing. We have to provide you with information that you require at the beginning of the short sale, then we have to provide it all over again 5 months after the initial information is provided to you because - AFTER 5 MONTHS, it is still not to the "nth" person in the chain of decision making.
Now Mr. Moynihan, imagine not only the hours that I (or other REALTORS(r)) are spending on the short sale - but the plethora of employees you are paying all along the way. The faxes that are lost, the employees who quit, the paperwork your employees forgot to save? The amount of time we spend on Equator - only to get back some other request for information that has already been supplied.
When I ask sir, are you going to honor your 60 day short sale approvals and when are you going to stop wasting a lot of peoples time waiting, responding, and re-entering information?
I would appreciate an answer as not only are REALTORS(s), mortgage brokers, customers - buyers and sellers upset, you are making a mockery of how you promised your short sales would be handled.
Karen Monsour, REALTOR(r), 954-464-4194