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Titanium Solutions now doing Bank of America Short Sale..Anyone actually have any in progress?

There has been a lot of talk on this subject and it is official that Titanium Solutions is now doing Bank of America Short Sales, processing them.

I have confirmed this with my Area Manager and am awaiting a possible Bank of America Short Sale deal using Titanium.

I'm curious if anyone has a short sale in progress now with Titanium, that was already your short sale listing.

I am months in on a Las Vegas Short Sale with Bank of America in the phase 2 and now Titanium wants to step in and handle it....hmmnn...would be great , IF they can move it along faster, but I have concerns that it may not.

Lets see what happens.

Feel free to share your experience.

***12/16/09****UPDATE: The Short Sale I have that is currently being worked with Titanium is in "Final Review". Not sure how long that will take and what the outcome will be but I'm keeping my fingers crossed they can get an approval!

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I don’t know what’s going on with Titanium’s real estate department – good communication with TS on the HRC assignments, but not so much on the short sale side.

I have had a BOA short sale listing pending with Titanium for about two months now. Uploaded all required docs and an offer on day one, but it looks like they have done nothing on it except order a BPO. The status still says “Waiting for Docs and Offers.” The Next Action section says the same, and none of the other fields on the listing page has been updated. Now the seller has received a NOD, and I’m not even sure that BOA knows we have a short sale listing and offer pending – I see no evidence of any BOA communication on the listing page. When I call Titanium, I am told that they are working on it, but no details, not status reports/updates – who knows what, if anything is getting done! I have sent numerous emails to them, detailing my concerns, and never get a reply – very frustrating.

Now I have a new short sale listing with a 60 day sale date (lead was from a TS assignment). I am concerned that I will be wasting valuable time if I submit it through Titanium, so I have decided to work it directly with BOA. I called their short sale department at 866-880-1232 (several times), and got through immediately each time. They were friendly and very helpful. If my initial experience with them is any indication of what to expect as I go forward with the short sale, I think it will be a much better experience than the “limbo land” that I have experienced with Titanium. I will of course pay TS their referral fee, but I am not going to waste my time and money marketing this listing, while they do nothing to get the short sale processed. I advised my TS Area Manager of all this, and so far have not got a reply.

After reading your post (Dawn) about BOA pulling the listing from Titanium, I think I have made the right decision with my new listing. I’m sure that I will also be frustrated working directly with BOA, but it can’t be any worse than my experience with Titanium so far, and at least I will know that BOA knows of the listing, and when I submit an offer.

Considering my short sale experience with Titanium, and your listing getting pulled, I just wonder if Titanium is getting out of the short sale biz, or maybe getting dumped by BOA? I work both short sales and REOs, but I much prefer the REOs. I was one of the lucky ones to get selected by Excellen, so I am hoping to get enough extra REO volume to quit short sales. I also hope that Excellen runs a tighter ship than Titanium’s real estate department.

Charles,

 

How did it work out dealing directly with b of a?

I have 2 SS of my own that I hired Titanium to help me with.  They don't seem to be doing very well.  I went to inspect one of them today and saw BAC field services notices posted.  I called everybody and (bac and ts) nobody replied yet.  If the bank took over, I will look very bad to my seller...At this point I cannot recommended Titanium Solutions...

This interesting, But BOA has a real mess of short sales in their hands, current and future ones, at the same time the right questions will give you an idea what kind of short sale you have in your hand, yes there are many kinds, one loan , 2 loans , A paper , specialty loan program, mortgage insurance , no mortgage insurance, 1 loan w/ them 2nd loan w/ another co. heloc? . etc, and the prety one ,Is it theirs from the Country wide take over?, But unless I missed it, Did not see anyone mentioned EQUATOR , and their new BOA platform for short sales,(actually since early DEC 2009) just uploaded 4 short sales on that platform today. This platform is as they said to speed up the SS approval process. we'll see. GOOD LUCK
Dawn, we are processing our Titanium B of A shortsales through the REOTrans (Equator) platform. Did you end up going that route? It sounds like they took over the entire process "inhouse"... correct?
3/18/2010 Uppdate: Unfortunately, Titanium RE Dept has never got back to me on it and BOFA insisted I open the file in Equator so I did....we will see if they pass it thru faster like they claim
UPDATE: One of our BofA's was submitted on 2/5, a negotiator was assigned on 3/4 and an appraisal was ordered. Last week they said a decision should be made this week. (This was an ALL CASH, full price at market value offer). We submitted another SS on 3/10 and we just got a call from an appraiser yesterday for the BPO. Who can figure? Not sure if things are really faster....
Cat,
Were these your Titanium SS?
The first is Titanium, the second is a Past Client.
Just did a search for Bank of America and ran across your post I am wondering how this turned out for you?

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