US Bank - Dealing with stone walling

Foreclosures, Short Sales, Tax Foreclosures
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Been working on an approval for a partial release of a 2nd mortgage for 8 months now. We’ve jumped through every hoop to get them the most amount of money we can get them. The first has already made a decision to allow them $2,800+ dollars OVER AND ABOVE what they would normally allow.

It’s complicated, but here are the names I have for the managerial hierarchy at US Bank.
Richard K. Davis - CEO
Jennie P. Carlson - Exec VP.
William L. Chenevich - Vice Chairman
Richard C. Hartnack
Richard J. Hidy
Joseph C Hoesley
Pamela A Joseph
Howell D. McCullough III
Lee R Mitau
Joseph M Otting
P.W. Parker
Richard B. Payne, Jr.
Diane Thormodsgard

Probably none of these folks can help me, as the file is in the Ohio office of US Bank’ Recovery Dept. However, I have never seen or dealt with such a poorly run operation in all my life. US Bank may have $219 billion in assets (God love 'em for being able to amass such a fortune) yet apparently they have money to burn. I wonder what the stock holders think about their inability to act?

Because of their inaction, they are going to lose over $5,000, on a $22,000 note. And, I’m going to see 9 months of work go down the tubes.

We received an approval for SS payoff from the 1st in early Feb, with an expiration 30 days later. Unfortunately, the folks at US Bank, who hold a 2nd, can’t seem to make a $5,000 decision – in 2 months! It’s actually been 8 months since we started working the account but it’s been two since we sent them a copy of the payoff letter from the 1st mortgage lienholder. Ssssshhhhh! How long does it take to make a $5,000 decision?

They say the file has been “sent up for review” but does it really take 30 days to approve what is obviously in the best interests of the bank? The borrower’s have already agreed to sign the deficiency judgment! This is a NO-BRAINER!!!

Anyone have any hints?

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Well, not to be rhetorical, but they did manage to approve the short offer – TODAY! Finally, I got to speak with someone who acted interested in resolving this debt, and capturing this $5,000. So, I guess I’ve managed to answer my own question. Apparently one needs to get angry! That’s intriguing to me and I wish I had more time to study this aspect of human interaction.

Don’t know why it took me getting mad in order to get someone to get off the dime – to take action. I hate when that happens, because it reinforces my tendency to cuss when I feel like I’m being backed into a corner. It’s always controlled anger, but why do we humans feel the need to push others into a corner? This makes no sense, to me.

I don’t think it bodes well for the banking industry; that they seem so inclined to want to provoke people to anger when any rational person would have been able to examine the file, deduce quickly that what was being offered was, in fact, in their best interests. Then take 5 minutes and make a rational decision! Jeepers, is that too much to ask?

Why did it have to take 8 months? Ah, but that would have been just too simple. I suppose these delay tactics are mostly about the Lenders wanting us to know who weilds the real power.

“Wealth is power, and power is the only thing about which contemporary culture cares. DEAN KOONTZ, Brother Odd”

Short sales – what fun! :banghead

P.S. As I examined this issue – about “power” and why some humans love to lord it over us about how much POWER they have, I came across some enlightening material.

I like to be enlightened about such things. Here something interesting about the evil that the love of power can perpretrate on the human race.

An excerpt from this page - http://jmm.aaa.net.au/articles/17293.htm:

“According to the radical sociologist Robert Merton, the evil perpetrated by human institutions is greater than the sum of the evil of the individuals within them”.

And if you get that far, be sure to read the summary of the classical Christian wisdom on power, and how to obey Jesus’ warnings about its abuse, toward the bottom of the page. I’m not a religious fanatic, by any means. However, I do enjoy the study of things philosophical, and the study of human behavior.

I just wish I could learn and retain so that I would always feel in control of my emotiions AND be able to persuade in such a manner that the person who comes around to my way of thinking would believe that they themselves came up with the idea! Now THAT is some real power! The Marshall Sylver kind of power – the power to persuade.

Ah, but I digress … Make it a great day. - Obiwan1250