I just got off the phone doing my "status calls" on my short sales... and there might be hope!
First of all, "Michael" looked up my first loan number (the one we've been working on since December) and he said "can you hold on for a minute?" then about 10 minutes later he came back and said "I had to double check because the notes didn't make sense... you've skipped phase 2 and we have investor (FannieMae) approval while you were still technically in phase 1! I've never seen that before!"
Now, I already knew we had "skipped" phase 2, but I didn't know that fannie had already come back with our approval.
This is the 2nd file since September that I've "skipped" phase 2. Don't know why or how, but I'll take it! YAYYY!
Then I gave him a new loan number... on a listing I just took. He pulled it up, obviously there was no activity in the notes, and I told him that I was just giving him the heads up that I had taken the listing. Then he proceeded to tell me that when I DO get an offer, as of last week there is a new procedure for submitting the file...
Are you sitting down?
Fax in your contract and YOUR contact info. That's it.
Then a negotiator will send you an email with a link to the REOTrans website for your file where YOU will upload all of the other documents into their system. No more faxing into La-La land and wondering if it got there! You'll be able to see INSTANTLY that the docs were uploaded!
My husband is a loan originator and they've been using a similar system for YEARS... and it's VERY easy!
Oh, and then he also said that website is where you'll go in the future to get status updates!
Could it be?
"Michael" also mentioned that he thinks they brought in a bunch more negotiators because he's been seeing a lot of new names lately in the notes...
IT'S ABOUT TIME!!!
Anyone else having a similar experience?