Suntrust

5% commission-website has complete list of what they want in Short Sale Package. Package was sent in and was acknowledged after 3-5 days. Approval was about 30-35 days. Called every day to follow up and of course they said call back in 7-10 days-did not listen and finally got a friendly on the phone to check my file if complete-Janet if I remember correctly-very helpful

I have a buyer under contract to purchase one of our company listings; a short sale property having a 1st and 2nd with Suntrust. This whole ordeal has been maddening. Early May 2009 the seller accepted the offer and thus began the nightmare. The listing agent and/or his assistant contact Suntrust at a minimum of four times per week, every week for a year now. Suntrust has delayed taking any action on numerous occasions up to the day before the home is set for auction. We've had at least three negotiators assigned and just as many BPO's performed, each negotiator starts the whole process over again. They don't return phone calls or emails and requesting escalation does absolutely nothing. Every time this file is eligible for escalation, a new request is made with the same results - inaction on the part of Suntrust. They will not respond to messages or emails for months and then will make contact right before close of business (normal business hours, not necessarily real estate business hours) to demand paperwork or issue a counter offer with a deadline of 8am the next business day. The nerve of these people! They have everyone scrambling last minute to meet these ridiculous deadlines in order to keep this deal alive.

Just shy of a full year waiting for short sale approval, we have finally received approval for both liens. However, no one is getting too excited yet as the market has continued to decline in the last year here in the Napa Vally and the property now comps out about $40k less than the approved offer. Appraisal is scheduled for next week and I worry that we'll be stuck waiting for months on end for Suntrust to approve the sale at the appraised value. My buyer has been extremely patient considering the circumstances, I don't know that I personally would wait around on one house for that long, but I am thankful she has. I hope this ends well for my buyer, but I think if it were up to Suntrust they'd be happy to make everyone else miserable.

Suntrust has been a nightmare. It appears that they formerly used First American to service their Short Sales. They have since began processing them in house. There is a complete lack of sensitivity to the customer or the agent. They are holding files and they wont even order a BPO r say anything concerning the file. They could care less that people are having to file Chapters versus going to foreclosure. We reside in Georgia and the foreclosure process is 90-120 days. They wont even let you escalate the file for 60 days. I cant believe that they are sitting on files letting buyers lose out on the $8,000 tax credit. They have only come up with the fact that they are busy and they did not expect to have this many short sales. If this is business--they should have began training people months ago to mitigate their files so that they would be able to handle their load. It was their lack of doing modifications as to how they have arrived to this deluge of short sales. Incredible. These are the banks that need to fail, because they see the handwriting on the wall and they wont even read it.