OCWEN file submitted to underwriters . . . does this mean the offer is accepted w/o negotiation?
Is it reasonable to assume OCWEN is accepting my offer (no negotiation) when they said today they are sending the paperwork to underwriting and will call again in 1 1/2 to 2 wks??
I am a cash buyer and they commented my realtor's paperwork was very complete . . .
When I asked my realtor if they would counter she said "or they could accept, or ask for more documentation or deny".
The Deny threw me off, is that really a possibility at underwriting?
Thank you!
Carol
Replies to This Discussion
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Permalink Reply by Wendy Rulnick on
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Carol, OCWEN might be using the term "underwriting" as other lenders use the term "review". They are probably looking at seller financials, offer net compared to valuation, the investor guidelines, etc. Yes, they could counter, deny, or accept. Another part of the picture is they might ask the seller for a contribution... It's doubtful they would outright deny, vs counter or negotiate with the seller.
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Permalink Reply by carol kaye on
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Ok, that makes much more sense. Thank you Wendy!!
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