Comment

Comment by Kevin - Greenville, SC on March 7, 2011 at 3:33pm

Not so fast on the MERS website I've found it to be in error more than once....Or maybe it's correct and the servicer is wrong.... Who knows??

 

My own personal loan show Deutsche Bank owns mine, but a QWR has shown a different owner each time I've sent it in.  I don't even think the servicer knows.....

 

Comment by Ben Benita on March 7, 2011 at 3:27pm

VA Loans - they are great, they will tell you what the BPO numbers are if you contact them directly. 

Also look into the VA Compromise sale where the VA covers any deficiency)

 

Finding the Investor - MERS works, as does the Fannie and Freddie Loan Lookup site. 

 

Sending in a QWR works 99% of the time as well.

Often times, if you put on your "sexy voice" and play nice, the Seller can get this info. from the bank......HOWEVER, it is not 100% and many times this request will need to be in writing, and, sent to the appropriate department (which department it goes to will vary by Servicer).

 

If you saw the blog I did about the guy who is foreclosing on Wells Fargo:

 

YEP Homeowner is foreclosing on THEM....LOVE THIS,

 

you will know how powerful this document can be......

 

Git R' Done....LOVE LOVE LOVE me some short sales!!!!

Comment by Catherine Gheen on March 7, 2011 at 3:06pm

I am having trouble on a B of A short sale that was an original Countrywide 80/20 loan.  The bank is now saying that the PMI company wants the seller to contribute $25,000.00 which he has no way of doing.

 

If memory serves me the old Countrywide loans did not have PMI and now these loans were sold into mortgage backed securities.  Has anyone had a similar situation?

HELP!

Comment by Lisa on March 7, 2011 at 2:30pm

Thank you Alex!!! I found it!!! Your ROCK!!!!! I will be calling the investor first thing in the AM, I will keep everyone posted!!!

Comment by Alex Miller on March 7, 2011 at 2:16pm

@Lisa - I have had good luck checking on the MER website for who an investor on a particular loan is:

https://www.mers-servicerid.org/sis/

Comment by Kevin - Greenville, SC on March 7, 2011 at 2:03pm

Lisa,

At this late date your best bet is to have the Homeowner call customer service and ask.

 

Comment by Lisa on March 7, 2011 at 2:01pm

Does anyone know how to find out who the investor is on a BofA deal besides looking at original loan docs?? I am desperate to find out as I have a deal that was denied even after accepting all terms of a counter offer, only hours after we accepted it. I am 99.9% sure the investor was never even informed of the deal. The home is scheduled for Foreclosure on the 11th and my requests for an extension were denied. Please help! I have contacted title and they cant figure out how to find investor either and of course BofA will not disclose. Thanks!

Comment by Kevin - Greenville, SC on March 6, 2011 at 4:18am

Susan, 

 

VA Loans are not HAFA eligible, but your client may qualify for this -

 

http://www.benefits.va.gov/HOMELOANS/circulars/26_11_1.pdf

 

 

Comment by Susan Burhoe on March 6, 2011 at 1:45am

VA Loans. Is B of A offering any homeowner relocation funds for VA Loans through Bank of America? It would seem that HAFA funds would apply. So far I have hit a wall with this.

Comment by Jim Hale on March 5, 2011 at 9:06am

Terry -

Did they allow seller payment of buyer closing costs on the FHA?  How close to the BPO value were you in each case?

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