James J Soraparu sent a message to Greg D. Carmichael - Chief Executive Officer of Fifth Third Bancorp - Email Address that said:
Hi Greg, Im a long time Real Estate Office managing broker/owner in Chicago... I spent 2 different days trying to open up a simple escrow account at the Chicago Brickyard office where I already had a business account.... Nothing against the personal bankers the two women on separate days did their best, but the phone support, and corporate doesnt seem to have a clue about Escrow accounts. I only needed it to start holding Earnest Money again, and after hours on 2 different days I realized it was impossible. The phone support was acting like I was opening up interest bearing accounts for my buyers, I was Not, Only needed to hold money til closing. I was told so many things that were totally wrong, including being told that the person who gave the earnest money to MY business would be the Only one able to withdrawl the funds, on and on, for any experienced banker knows that Earnest Money coming from a Buyer is Not the Buyers actual money that they can withdrawl at anytime. The Earnest Money checks are the responsibility of the Real Estate Office in which the checks are endorsed to. Its Not the banks escrow account, it would be mine... Earnest money is only released to a Buyer IF they do not qualify for a loan, or is released by direction of Seller Buyer by their attorneys directions. In this case I would even shift that money into my General account at closing for that would be partial commission owed to me... I could go on and on, But your Bankers and their support system has truly failed here through lack of knowledge... Thank You...
