I have a listing where the 1st Lien (MGC Mortgage) just sold the lien to Dovenmuehle Mortgage.

 

Has anyone ever dealt with this company? I've heard of them before, but this will be my first S/S with them.

 

If anyone can provide me any contacts, phone #'s etc, I would grealty appreciate it.

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Loss Mitigation Department- (847) 550-7300
Short Sale Package (fax)- (847) 574-7658
Authorization to Release Info (fax) - (847) 574-7659
Thanks Paul, I made contact with them and sent the file over. It sounds like they will move quickly on it.

PAUL STRELECKIS said:
Loss Mitigation Department- (847) 550-7300
Short Sale Package (fax)- (847) 574-7658
Authorization to Release Info (fax) - (847) 574-7659
Beware of this company! They have been very difficult to work with anytime I have dealt with them. I had a short sale with a local credit union that uses Dovenmuehle Mortgage as their servicer. They first told me that they don't even normally do short sales and that they would rather foreclose in most cases. They didn't seem to care much. There was MI on the loan too, so it ended up very difficult to work out. Fortunately, I ended up going straight to the local credit union and dealing with management to get it pulled through. We ended up getting approval because I went that route and we closed.

Just be careful with what they tell you. If they seem uncooperative, go directly to the investor. They are just a servicer.
they are absolutely the stupidest servicing company. I had a offer on one of their loans, Indymac was the primary lender. The payoff of the loan was less than the offer ( about a $20000 differential..NICE RIGHT?? ) Was not going to be a short sale. It happend that the Condo association foreclosed due to lack of payments of H.O.A. fees. The seller turned over her keys in a "cash for keys" situation to the HOA. Douvenmuehle couldn't understand that the HOA was now the owner by judicial decision. 3 months nothing ..nothing.. and more nothing...the buyer walks away.....I am never informed that the property is going to foreclosure auction..I see it in the newspaper...I try to stop it by calling them, & the foreclosure atttorney, & Indymac...for get it!!!!!!!! I get a phone call from the foreclosure attorney the day after the forclosure..asking if the buyer was still in the market to buy..MORONS! 1 year later....the property sells for $35000 less than the offer I had..and it cost them 1 yr of maintenance, taxes, HOA fees, legal fees, etc.... They are JERKS..
Juan,

I have one Beal/Dovenmuehle file I'm working right now. And another to submit.

They are a subservicer in Illinois, meaning that (I think) their business model is to service mortgages on behalf of investors on a contractual basis.

On April 1, Beal/LNV/MGC outsourced their loss mitigation to Dovenmuehle, and I suppose their servicing and collections too.

I'm pretty sure that LNV still holds the note, and therefore the mortgage, too. So, they call the shots, and Dovenmuehle does what MGC wants.

This is part of the Andy Beal operation, meaning Beal Bank. I think they buy failed-bank assets from the FDIC.

The entities are: Beal = Bank, LNV = Investment Company, MGC = Servicing Company, Dovenmuehle = Outsourcer

Dovenmuehle will follow the noteholder's guidelines, hence the experience will be highly investor specific. Not sure yet about Beal....

michael
Juan, How is your Dovenmuehle short going? I just got one and am worried because I see they have a relationship with Ocwen.

Juan Reyes said:
Thanks Paul, I made contact with them and sent the file over. It sounds like they will move quickly on it.

PAUL STRELECKIS said:
Loss Mitigation Department- (847) 550-7300
Short Sale Package (fax)- (847) 574-7658
Authorization to Release Info (fax) - (847) 574-7659
I  know this is an old post but does anyone have any email contacts at DMI?  I feel like they are using the old BofA system of we can not find find or didn't recieve your fax!  I am beyond impatient with them and plan to escalate!

Shot me an email Jeff, michael@newhavenllc.com.

DMI is a subservicer, in my experience, who is the Servicer/Owner?

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