Banks Aren't Logical
June 10, 2010 / /
Kevin and Fred talk about the bank’s illogical-ness.
Why, oh why, do banks do what they do?
Just suspend your reason to know and work in their crazy system, because all that matters is results.
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About the Authors
Kevin Kauffman & Fred Weaver
Kevin and Fred the founders of Group 46:10. Over the last 10 years Kevin and Fred, and their team have closed tens of millions in real estate all over the country and have created some of the best training for agents in the market. Kevin and Fred are also highly sought after teachers whose work has helped agents all over the country build their own next level real estate business.
Freddie Mac is not logical. Just had one foreclosed on by Freddie after EIGHT months working on. BOA sent it to Titanium to waste 2 months then back to BOA, then after all that time FREDDIE in their infinite wisdom takes it back at sale YESTERDAY w/no notice to me because it was 135 days delinquent and the offer was insufficient (BS)….OMG the frustration of it all!! I want to throw up right now!!
P.S. Thanks for letting me vent!
WORD UP! Big business, like the US Government and other NOT-FOR Profit entities…including Fannie Mae and Freddie Mac… more than $20 billion in losses in last 3 quarters… don’t have logic, because they are in business, but they are NOT for profit. I guess in a JACKRODDED sort of way, that makes sense…but, in any sort of legit business function it’s completely disfunctional.
PS…the Outback says what ever word you make up is fine…and it’s a word now.
PSS…I remember back when I got my 1st transaction done with BofA 2nds in South Carolina…back in early 2009. I sent them a HUD with $95k in net proceeds, but they called me and countered at $5k, and then called me directly. I told the lady to slow down and ‘get her head out’ and realize that $95k is better than $5k…on any planet… even ILLOGICAL ones.
Escalte your Freddy Mac loans within FM. They actually have an escalation department 🙂
You have to be in contact with the attorneys involved in these foreclosures. Send them LOA’s to be permitted to speak and keep everyone on the same page. Get everthing into the notes of both the bank and attorneys.
The left department doesn’t know what the right department is doing. Its your job to connect all the dots and keep the puzzles pieces together.
Other choice, sit back and hope everyone does their job and you may get paid for all of your hard work…probably not 🙁