PNC Bank, not to be confused with PNC Mortgage (as if it wasn’t hard enough to already deal with them), has a work flow for dealing with their short sales just like anyone else. It is always important to deal with the right people, at the right time, and and ask the right questions in order to try to find that assistance that you need.
The first part of the process begins in what they call the “Document Coordination” Department. This department receives the packages that are faxed in by the homeowners or their hired agents. They make sure to look everything over, reference dates, make sure all the signatures are on all required documents, etc. Once the items have been confirmed to have been received they make it to the next department that they refer to as the “Qualification” Department”.
The Qualification Department makes sure that the property falls into the short sale position and in deed their lien reasonably needs to be taken into consideration or if the loss falls on another lien holder in the order of subordination. This department also takes care of many of the internal tasks that must be completed. They order the valuation (often a BPO or Appraisal), title work (to review for any additional liens), order a pay off, order a credit report etc. (internal tasks). Once the BPO/Appraisal returns and the remainder of the tasks are completed it moves onto the step of the negotiator.
Commonly the “Account Manager” as they refer to it is only the foreclosure processor for the bank. They do not necessarily do anything other than confirm that the package has been received.