Bank lost my client's account

If neither bank has a record of this, then why don't you just deal with the one that has the deed, and see what happens. This would be great for your client, but most likely it will turn up when dealing with Bank number one.

Of course they did...they also have a new phone system that transfers you to outerspace for hours at a time! They "lost" one of our files 3 times and it ended up closed and then re-assigned to a new negotiator and then the waiting time period began all over again.

You get a different story every time you talk to someone. 20 new negotiators hired...40 new....30 days, 120 days, it never ends. We are going to send a letter directly to the CEO and see what they think about all this.

Numbers are what they want to know..do your homework, present the facts in dollars and sense! Make sure you have a complete package before submission and document everything.

NOW that is too funny! Nothing amazes me anymore. They are the jr. lienholder and niether says they have a mortgage? Can you get that in writing?

What happens if you are all set to close with the first? If there is no evidence from wamu/chase of a mtg, then move on, by the time they figure it out, you won't have to negotiate on the second that they say doesn't exist.

Reminds me of the time my mtg co raised my pmt by $500. due to what they said was an escrow issue. I only found this out when I sent in my payment and they returned it, and I called to ask why. No communication with me prior to raising payment and they should have to give me a notice and a choice to pay the entire deficiency or raise the pmt.

My taxes didn't go up, neither did hazard, so I asked them to send me an escrow analysis. That was HomeBanc, who died shortly thereafter (BEFORE I got the analysis of course). Then my loan was sold to BBT, who didn't have the escrow info yet either, but said they would send when they recieved it. A month later, it was sold to Chase, a month later it was sold to EMC. whew! Now, after calling EMC to track the analysis down, they are merging back with JPMorgan/Chase who had it before they sold it to EMC. Crazy! In the meantime, they said, do not fear, if they found out it was incorrect, they would refund the money. lol, IF being the operative word here.

There should be a law that people who deal with money must not only have a license but pass an IQ test, and they should have to carry E&0 like agents do so they can be sued as easily as us.

Getting back to the original question however, I would get an attorney involved and see if you can finalize the 1st loan and not have the client suffer any damages. After all, the second lienholder is saying they are not a lienholder. I'd love to hear how this story ends, let us know!!