Great Ocwen Transaction

We spend a lot of time discussing problems with lenders on this site so I want to let you know about an awesome transaction that I have closing on Friday with Ocwen. This was one of the smoothest transactions I have had in a while. It took a week and a half for Ocwen to initially receive my package (I faxed it to the number listed on the Ocwen Short Sale Package) and they did not receive it. I re-sent it to another number and once that happened...I was on the fast track. The transaction was uploaded to Equator and it took about 5 weeks to get the approval. I got a full 6% commission approved. It was an FHA loan and we are closing on time. The biggest issues were initially getting the package submitted and getting HUD approval. It took a few phone calls for HUD approval but tomorrow is a holiday so everyone is off their game a bit.

I have another Ocwen transaction coming up next week and I hope it goes just as smoothly.

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Replies to This Discussion

Permalink Reply by Ro Reed on July 21, 2013 at 12:19pm

Glad to read this. Six days ago they notified me that all was received and they would answer within 30 days. One of the sellers just messaged and said she decided to check in with Ocwen and was told the short was terminated due to excessive commission. Unbelievable! First, the fact that they haven't notified me and second that they would not counter and instead terminate?! I am hoping to get some answers tomorrow.

Permalink Reply by D'Adrea Davie on July 31, 2013 at 3:14am

Christy,

Congratulations on your successful and smooth transaction with OCWEN. I have worked with them before on a successful transaction as well. It wasn’t as smooth, but short sales can always be a little tricky. I did feel like the were honorable and received an approved short sale, so I was satisfied. I just sent another request for a short sale so I am hoping for another successful transaction.

I do have one question, previously I have not had to go through Equator for an OCWEN short sale is this something they initiated? Please advise.

Thank you and good luck on your upcoming short sale.

D’Adrea Davie

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