Mortgage Lender List of Loss Mitigation Contacts That Can Help You Avoid Foreclosure

Please remove my name. I am not the contact at Bank of America. Please change to:

Nick Kieser – 716.635.7112

nicholas.j.

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Jim Reply:
January 26th, 2010 at 10:49 pm

If you are not the contact, who is? Do you not work for BofA? Can you please share the LOSS MITIGATION Dept. contact information please? Instead of just asking to remove your own contact information, it would be of great public service to give us the CORRECT CONTACT INFORMATION for the LOSS MITIGATION DEPARTMENT. I’m sure you agree and understand.

Thank you for you cooperation.

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I used your contacts for emailing Citi-Mortgage, i thought what a nice letter from Joh, I will email him to see if I can get help on a short sale…

Soon after I sent my message… I got this response…

Subject: Undeliverable: FW: *!*!* I NEED HELP URGENT*!*!*

Delivery has failed to these recipients or distribution lists:

John.j.
An error occurred while trying to deliver this message to the recipient’s e-mail address. Microsoft Exchange will not try to redeliver this message for you. Please try resending this message, or provide the following diagnostic text to your system administrator.

The following organization rejected your message: server-9.tower-163.messagelabs.com.

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Thanks for this information, I have contacted a couple of these people already and got a response, hopefully this will help some of my clients avoid the torture of foreclosure.

Regards

Ross Hardy

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Thanks for your list. It is essential to have this data to contact the correct department at these lenders on behalf of homeowners who are in need of assistance. John Slocum

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Steve Rhode Reply:
July 15th, 2009 at 2:15 pm

John,

Happy to help. I’m sure it will get stale as people move. If you discover an update in your use, please post it in the comments.

Steve

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The phone # you have for GMAC Mortgage is a FAX #. You may want to get that fixed and provide a true phone #. Thank you kindly.

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I would like to see if you have the info for the loss mitigation department of Wachovia Bank. and if you do so please send the info thruough the E-mail .

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We have been trying to contact our analyst handling our short sale with Bank of America for 43 days. We are still waiting for the appraisal to be ordered. We were told would take 2 weeks. Then we were told it could take up to 30 days. We have been calling at least twice weekly but got no response other than “Your file is in process”. We left messages to have our analyst call us back with a status update but never received one call. This process makes absoultely no sense and we were extremely frustrated as our buyer is threatening to pull out because we have passed the deadline set for closing.

Last night I found this site and sent emails to the contacts you listed. I have not heard back from them yet but miracle of miracles, our analyst actually called our lawyer this afternoon and we now have an appraisal order!I am not sure if these contacts had anything to do with this but since this is the FIRST time we have ever heard anything from our analyst, I am going to think that they did. If I hear otherwise I will post again. But I urge everyone in this situation to not sit by idly and let other people handle this situation for them. Contact anyone and everyone you can think of. Thank you so much for posting this information!

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I have a short sale offer in at Suntrust. We are now going into our 7 month. It’s been 3 months since I have had a call back. I call my contract at the bank (Charles McPease)every day. A BPO was ordered about 6 weeks ago. I still have not heard from the Bank. I have also tried talking to other people within that dept. All they do is record it in their system, and still no reply. Any ideas!

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Steve Rhode Reply:
October 5th, 2009 at 7:29 am

Doug,

Send a letter detailing your frustrations to the chairman of the bank. Send it my FedEx or UPS next day air. Let your issue filter down instead of trying to filter it up.

Steve

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Steve:

Do you have the mailing addresses to Lost Mitigation Department for Bank of America?
In addition I would like to ask do you recommend to start the conversation with Bank of America or Countrywide contacts you listed since the loan was originated from CW?

Thank you so much in advance for your prompt answer.

Jane

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Good luck getting an address for the Bank of America Loss Mitigation Dept. We have been trying to get the phone number of our analyst for months now with no success. Update since last post, we got appraised right after I sent an email to Nick Kieser. Then we were told we would have to wait three weeks for the report because BofA hired a third party to manage the process. So I sent another email to Mr. Kieser and we had the magic number the bank would accept in a couple of days. Our analyst told our lawyer that our case had been fast tracked but she did not know why! Long story short, we were due to close next week but just found out that the Bank will only agree to close if we pay $8469.95 at the closing! We were told when this all started a year ago that since NY is a forgiving state for primary residences and that we would not have to pay anything at closing. Wrong! Then our lawyer told us that HIS fee would be $10,000 but that he was willing to lower it a bit because he knows we don’t have it. We have already lost $143,000 on our house and all our savings. Apparently what NY means by forgiving the debt is to not report the shortfall as a deficiency on your credit report and then they CAN and WILL ask you for funds at the closing. We were never told this. Even our lawyer was surprised. The amount seems to be derived through some unknown calculation because it does not correspond to any specific amounts on the HUD. So, sellers in this situation, BEWARE. No state totally forgives your debt. There are no set rules for any of this, every bank is handling these differently, and within a bank, each case is treated differently. At least in my case this amount is but a fraction of the large amount the bank has lost on this deal so I guess I should be thankful. Meanwhile, my husband’s credit rating lost 150 points after we missed one mortgage payment. Will be interesting to see what happens to his FICO when this is all over, because the longer the bank drags it out, the more mortgage payments they are missing. Then we can only imagine what effect the short sale itself will have.

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Short sale with OCWEN and sale date on 11/2/09. Just got an offer and submitted 2 days ago. They received my file and being reviewed. Iasked if they can postpone and said that OCWEN does not postpone trustee sale. I dont think I stand a chance because we do need enough time to have the buyers to draw loan docs. Please help.

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After 120 days trying the “making homes affordable program” at Bank of America I learned from BOA that I do not meet their critiria. I meet all published critiria but finally after all this time and effort, they noticed that there is Mortgage Insurance associated with this loan therefore I do not qualify for assistance.
My income is half of what it was when I got the mortgage, I have been doing everything possible to stay current but finally had a late pay and will have another this month.
Any chance of Loss Mitigation at BOA approving a forebearance for a few months until my income recovers a bit?(in your opinion)

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Michele W. – Sorry to hear your situation is-what-it-is. Here is a senoir v.p. contact with BOA – Joseph Fuszard

SVP Division Executive – Real Estate Special Assets & OREO at Bank Of America Corporation
Address:
Bank Of America Corp Ctr 100 North Tryon Street
Charlotte, NC 28255-0001

You should contact a local real estate investor and see what type of agreement you can arrive at. Good Luck!

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Is Joseph Fuszard a better contact than David Sunlin at Bank of America? David Sunlin is the one being quoted in the recent articles as being SVP in charge of Short Sales.

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HeatherB,

I was just trying to offer another contact name I found. What I’d recommend actually is – not contacting a VP unless people have first tried to work with a loss mitigation specialist and failed. I believe a VP is only going to get involved IF the guys in the trenches, the (loss mitigation specialists) haven’t gotten a case resolved after a certain amount of time.

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Hi, great info you are providing, thank you! I’m involved in a short sale with “Bank of the West” as the 1st and Chase as the 2nd. Was wondering if you perhaps have any contact info on either one of these. I see the phone number for Chase above but anything further? Your help is greatly appreciated! Thanks

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As an ex-employee of bofa i know that in loss mitigation most of the cases were not being looked at or have expired and no kind of notification was given to the homeowners. alot of the time bofa has a third party that actually handles the loan mod depending on the lender like fannie mae and hud hires this company to the lon mod or the making homes affordable program then when the homeowner faxes their paperwork over to bofa instead of the third party thats actually handling the loan mod they are taken out of the system and have to start the process all over again. but i also know that the process takes about a year to complete and you still run the risk of going into foreclosure even though your going through a modification.

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OK Steve here is the detailed info you requested on the loan mod process.

First you have to fax in your budget worksheet which can take up to 6 mo for them to receive it, why you ask because they give you a ton of numbers and then tell you they havent recieved it.

Then you have to wait to be assigned an analyst which can take up to 4-5 months and because they have so many accounts the analyst get changed before they ever contact you to let you know their name. And most of the time they never contact you.But make sure that you ask them if they are the company that handles your loan modification because they also hire outside companies that handle the loan modification and if the 3rd party company handles your modification they are the ones that need your financial worksheet information and if they dont recieve it what happens is bofa has you in their system as its being processed while the 3rd party company has already taken you out of theirs meaning that you have to start the process all over again.

Now once you have recieved a analyst you have to just wait until you receive a packet in the mail because as I stated earlier they rarely call you to let you know whats going on which is why the process takes so long…….

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I am a real estate agent working a short sale with GMAC. We are in the second phase of negotiation & our contact is Beranadette Daddazio, GMAC Rescap Short Sale Analyst. On Dec 22 she emailed me that we will have all our documents to close before she left Christmas Eve (12/24/09). Nothing happened. After daily calls, emails, faxes – from me to her – we have not heard a word from her. VERY FRUSTRATING. How do I get to her supervisor or someone to help me understand what’s happening. Maybe she died. I have no way of knowing.

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Is there anyone out there that has had a successful loan modification? Is there anyone who has had success as a result of Loss Mitigation? Is there anyone who has had success as a result of Loss Mitigation with Bank Of America? Based on everyone’s comments it’s making me think it’s easier to do a Short Sale and get it over with. Can anyone please offer words of encouragement and positive advice? Everything appears so daunting. Can anyone shed any positive light? Please!

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Chris Thompson - realtor southern cal Reply:
February 3rd, 2010 at 12:37 am

Hello Jim. I am a real estate broker in Southern California and I have been able to help some borrowers successfully complete modifcations and others complete their short sales. Unfortunately, there is no quick fix with either scenario. Both processes can be extremely frustrating and time consuming. With that said, I have had short sales approved within 60-90 days of submission, but can take up to 6 months depending on the lender and the investor who has to give final approval on the negotiated amount (Keep in mind, most companies are servicers who need to get approval elsewhere or are backed by Fannie or Freddie). Loan modifications usually take much longer, some have taken more than a year to complete. Even when the lender issues a “trial period modifcation” there is no guarantee you will keep those payments at the end of the trial period, some are even declined after making trial period payments for over 6 months. Bank of America has been the toughest lender I have worked with, but their overall time frames seem to be improving. Either way you look at it, constant communication and determination will be necessary with the lender to make sure they are moving forward with your file, and in receipt of all necessary documentation. Keep in mind each lender/investor may have their own criteria for approvals, but at the end of the day it comes down to them getting as much $$$ from the homeowner or prospective buyer as possible.

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Steve,

Would you happen to have the mortgage company leadership contact information for EMC to contact tem directly?
Name, Number, mailing address for letters?

Thanks

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Hi,
Has anyone had any experience with an offer of settlement?
Our condo is worth what we owe on our first mortgage but we also have a second mortgage which is basically unsecured. We filed for BK in 2009 and included the first and second in the BK but have been making payments on both. Our 2nd mortgage pmt just went up and we are having difficulty paying it and are cosidering letting the property go into foreclosure. Our attorney suggested we make a settlement offer to Bank of America for the second mortgage to avoid foreclosure. B of A holds the first and the second which they inherited from Countrywide. Do you know if B of A has entered into settlements like this in the past?

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