Unfortunately, there are so many ways for the banks to delay the approval process...and they use them all. I have witnessed the "backlog" excuse used for months, so I hope that's not the case with you. Sometimes your Congressman can light a fire under these asset managers, so I would consider that option. The banks have already been paid so they have no reason to get in a hurry. Make sure there aren't two banks involved because both must give approval before anything can happen.
The whole system makes no logical sense. Best of Luck!