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A new group for OCWEN. I will add important phone and fax numbers as I receive them. Ron Ferris EVP of OCWEN 561.682.8560
This group is for information, tips and solutions for OCWEN short sales.
Members: 457
Latest Activity: 11 hours ago
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Fax for Third Party Authorization 407-737-6300
Fax for SS Pkg 407-737-5071
Short Sale direct phone 877-596-8580
Customer Service 800-746-2936
If you need to get in touch with the home retention dept that number as listed on the paperwork is 877.596.8580.
The hard ship package should be faxed to the home retention dept at 407.737.5071
ss@ocwen.com For short sale packages
The contact #: 800-746-2936 option 4 then option 9
FOR ESCALATION; Use sparingly......
Adrian Torres | Manager, Collateral Based Solutions
1525 S. Belt Line Road | Coppell, TX 75019
Tel: (469) 645-3334
Email: adrian.torres@ocwen.com
AND.....Ocwen's Ombudsman is a consumer advocate, they'll work with you to get issues resolved. Give them a call, they are super to work with. The first time I called them, they put me in touch with someone who got me an approval. I would call and email them: Ombudsman@ocwen.com Phone: 800-390-4656.
Ocwen Loan Servicing
P.O. Box 24737
West Palm Beach Florida 33416.
https://www.ocwencustomers.com/home.cfm
Ocwen Loan Servicing LLC - Servicing Transfer Information
Started by Anna Parker yesterday. 0 Replies 0 Likes
Hi All,I have a SS I'm putting together that has Ocwen on the 1st & the 2nd. Anyone have any experience with how Ocwen handles these files? I've been told one negotiator will review both loans -…Continue
Started by Christina Waymreen. Last reply by Christina Waymreen May 7. 3 Replies 0 Likes
I am not new to short sales but to Ocwen. Seller has had no income for two years. Is supported by an invalid mother who she is taking care of 24/7 and lives on Social. Has not filed income tax (no…Continue
Started by mike romone Apr 30. 0 Replies 0 Likes
How is Ocwen on the 2nd? We got Greentree to accept but now Ocwen is holding things up.Continue
Started by cat Apr 17. 0 Replies 1 Like
HI All - I have completed 3 deals with Ocwen that were originally GMAC. 2 of the transactions were VA and 1 was FHA. Really thought they were great to work with. Kept the same negotiators thru-out…Continue
Comment
Someone needs to get a hold of OCC, CFPB, Congressman. This should not be happening. Also don't forget about resources available to Veterans. I did not see if he is active duty or not. The links are on the last page of this newsletter. http://portal.hud.gov/hudportal/documents/huddoc?id=OHC_BRIDGE05211...
I am on the Missouri/Southern Illinois Chapter Board of Directors.
Comment by Corrin Martinelli yesterday @Wendy and @Kevin your input has been most helpful! I also asked Ocwen about providing a deficiency waiver and this was their response:
"We are not able to waive the deficiency as the investor reserves the right to pursue the deficiency. It is not their practice, but per the servicing agreement we can't include any verbiage in the approval letter. I recommend the seller contact the VA concerning the deficiency balance."
It sounds like from Wendy's experience with the VA I am not going to get anywhere there either.
Probably going to run this all by my company's real estate attorney so I can advise my sellers as to their best option.
Thanks for all your input.
Comment by Wendy Smith on Wednesday I did contact the VA. Since Ocwen approved the short sale, Ocwen is in compliance with the servicing agreement. VA has no policy, requirements or even suggestions relative to a waiver. VA cannot require a waiver of deficiency until there is a claim made for the guaranty payment. The VA told me the % of guaranty on this loan, that is how I knew the difference between the short sale net and the max claim amount. Further the veteran cannot use his VA to buy another home until the VA is paid back the amount of the claim paid.
Comment by Kevin - Greenville, SC on Wednesday Wendy,
Contact the VA.
No. Unfortunately, some Servicers are incorrectly advising borrowers that Ginnie Mae must approve all loss mitigation and loan modification activities. All loan modifications must comply with the program requirements of the agency that insures or guarantees the loan and must be executed by the loan servicer. The agencies operate through loan insurance or guaranty programs that back up the borrower’s obligation to pay the mortgage loan at the loan level. Those agencies are listed in the table below. Insuring/Guaranteeing Agency
Phone number
Federal Housing Administration 888-297-8685
Veteran Affairs 877-827-3702
Rural Development 800-670-6553
Comment by Wendy Smith on Wednesday @Corrin, Ocwen absolutely will not provide any waiver language in the approval letter. The investor is GNMA - no help there. As it happens, this is a VA loan and it actually works out better for the borrower to let the foreclosure happen - then when Ocwen submits for the VA guaranty payment; Ocwen must agree to not pursue the deficiency (or doesn't receive the payment)
Comment by Corrin Martinelli on Wednesday @Wendy, I am in the exact same situation as you. I got a short sale approval letter and my clients got a letter stating they could be pursuing the deficency. Any answers from Ocwen?
Comment by Eric L on May 12, 2013 at 10:08am
Comment by Kathy Deal on May 7, 2013 at 8:04pm Thanks Bryant
Comment by Wendy Smith on May 7, 2013 at 1:13pm Here's a first for me: Ocwen sends one approval letter to me, no mention one way or the other about a waiver of deficiency; then sends a different approval letter to the borrower making it clear they intend to pursue the deficency. I'll drop a line to Kathy but I don't expect much there either.
Comment by Uilani De Motta on May 7, 2013 at 1:03pm @Philip....I totally agree about Ocwen. Everything you have said is true...they request the same documents multiple times and even after confirming they received them, I've gotten the same request. This is repeatedly on many files. They schedule call backs and sometimes you get lucky and get the call, but the person on the other end is clueless and you end up going in circles wanting to pull your hair out. Definitely not a EASY lender to work with.
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