Comment

Comment by Chad Gelsinger on August 26, 2013 at 11:19am

Bill, Is this a Portfolio Loan? If there is an outside investor, try contacting the investor directly to fight value. Sometimes it is the MI company holding up value. You could go to them directly, but you need the info first. Depending on the type of loan, their BPO/Appraisal value could be outdated. If you send them another offer, they might order a new value. If you need help, let me know. Chad, MYclosing, LLC

Comment by Bill Seufert on August 26, 2013 at 11:04am

I am having trouble with OCWEN and value. I am the second Realtor to have this property and the bank insists it's worth $250,000 and in my opinion worth no more than 210-220. I sent them comps and a laundry list of repairs needed which they rejected. It has been on the market for a total of 7 months with 2 showings and only when I reduced it to $220,000 just to try and get an offer. I did but buyer wouldn't wait around for more than 45 days. Foreclosure date is in October and I am not sure what else to do. Any suggestions are greatly appreciated.

Comment by Wendy Rulnick on August 19, 2013 at 9:10am

Is any authorization form OK with OCWEN? The one in their package re: housing counselors is not clear, is that required?

Comment by Terri Parker on August 13, 2013 at 7:08am

Does anyone know what is the max percentage that OCWEN will allow for a 2nd lien?

 

Comment by Celine M. Johnson on July 25, 2013 at 11:56am

Thanks Pattilynn. I am still fighting. I will keep you posted.

Comment by Pattilynn Guilford on July 25, 2013 at 11:52am

Check the approval letter - it should say final draft HUD is to be sent for final CTC (Clear to Close) 48 to 72 hours prior to closing but with some banks its not needed, such as PHH,

In any event - the property is sold .. The bank accepted the funds and funds have not been rescinded. Just send to the bank closer, or the last person who was communicated with, the wire confirmation, the recorded deed etc. Make sure title performs. And get the wire confirmation from title asap for your records. Always do this. Msg me if you need more info.

Comment by Celine M. Johnson on July 25, 2013 at 11:42am

Thanks Nolberto, Evelyn Santiago and Pattilynn for your responses. Ok, so the buyer emailed ocwen and Adrian Torres called him. But unfortunately, he couldnt discuss the account with him in details so he said he would call the listing agent to discuss. Like I said earlier, the listing agent is a doozie. I had emailed him Adrian's info last week and we could have had a resolution by now had he followed through with an email to Adrian. Pattilynn, The title company didnt wire the funds etc since they were waiting for a blessing on the hud-1 from  hud closing dept. It is at this juncture that things become disjointed.They are pressing for a bpo and an extension, why???? Why cant they simply approve the hud that closed on the 15th and accept funds. we were right within the time frame of the approval letter.

Comment by Pattilynn Guilford on July 25, 2013 at 10:47am

Celine .. a few questions here:

1. Did title wire funds?

2. Did title receive a wire confirmation?

3. Is the new deed recorded at the courthouse?

Comment by Celine M. Johnson on July 25, 2013 at 9:00am

Help!!!

I am representing a buyer buying an ocwen short sale that we have been working on since dec 2012. We closed on this file on july 15-2013 , the last day of the short sale approval letter. The title company advised last week that they were still waiting for ocwen to approve the final hud-1. Now all over a sudden they want to do a new bpo and are saying that we have to file for an extension. Is this crazy or what?? They are sneakingly trying to force new value and ignore the closing altogether.Unfortunately, I have a doozie of a listing agent that I am dealing with. He is not aggressive at all and this is eating me up. I have provided him with contact info to Ocwen's Ombudsman, email and phone number. I have also personally tired to call them but they wont talk to me since I am not authorized on the sellers account. grrrrrr.... The seller already gave the buyer keys to the house at settlement. This is horrendous to say the least. Do you guys know how I can resolve this? Have you ever run into this type of issue? I even asked the buyer to email ocwen's president , which he did today and we ar

e still waiting for an answer. Thanks guys

Comment by Bryant Tutas on July 17, 2013 at 11:04pm

Thanks Ute. I made the change

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