Reaching out to see if anyone has had experience with this servicer. They acquired loans from U S Bank in January and are trying to go through a whole home retention review even though U S Bank did one and already approved the borrower for a short sale workout. They even sent the offer directly to the new investor, Truman Capital who forwarded it to Fay Servicing. Now they are declining the short sale workout by stating the new investor won't allow the short sale as there is a pending foreclosure sale
Tags:
I've done a few with them in the past. From my experience it's similiar to working with most servicers. How close is the foreclosure sale date and have you spoken to a manager?
310-564-6389
I have spoken to a VP and directly to the investor no one is giving me a straight answer FAY says investor won't do short sale no matter when the FC sale is . Then investor tells me that the reason was that the offer is too low. offer is $375,000, (their BPO came in at $381,000!)
Strange. Haven't heard of Fay having similiar guidelines to Caliber to denying short sales no matter what. The VP stated that Fay has a no short sale policy or that on this account the investor wont' do a short sale no matter what? Tough to know what's really going on from the outside as it appears you are getting conflicting info.
© 2024 Created by Brett Goldsmith. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.