Comment

Comment by Jason Glee on August 13, 2010 at 6:23am

7 months after close, Ocwen has circled back and sent a letter stating "loan is paid". A portion of the difference between the sales price and the loan amount was written off, resulting in a status of account paid in full for less than full balance on credit reporting. This does not affect the amount that you owe us however." Can annyone decipher this ?? They did some sort of write off to have loan paid in full for less then owed reported, but are then saying this does not affect the amount that you owe us however....They got $400k on a $450k note...then wrote off a portion of $50k to report it as paid, now are they gonna come after the $50k anyway..can they do both ? report paid in full for less then full balance then come after deficiancy ? I'm all ready paying off a 2nd lender (green tree) in installments as they immediately cam after their difficiancy.

Comment by Stephen Shafer on July 20, 2010 at 12:53pm

Never turn down a listing, our profession is to help people buy & sell homes! Our othe job is to perserver against all odds ie bank negotiators. If it is Ca. I wil take the listing I love challenges.

Comment by Anna Mackey SDHS on July 17, 2010 at 12:37pm

Stephen, WOW! That is sooo cool how you whipped Ocwen into shape! I would love to hear some more about your experience with Ocwen... I'm working a deal with them right now and they are driving me bananas! Could you call me sometime to chat about that? I am at 858-254-8497 or email me to [email protected] i would be forever grateful!

Comment by Lori Young on July 14, 2010 at 7:38am

My Saxon was transfered to Ocwen. I will never work with this firm as they foreclosed on my customer Monday after the buyer invested so much time and energy into the short sale process. Ocwen sucks.

Comment by Stephen Shafer on June 16, 2010 at 2:30pm

I had a Saxon file that was transferred to Ocwen at the brink of approval. Ocwen drove me CRAZY with the India call center until I got a contact via our loan mod section that helped.But face with a Trustee Sale & no solution I downloaded and had my client sign all the loan mod docs, faxed them in & got the sale poatponed 1 hour before the sale. Then had her write a letter requesting the short sale proceed to complete the deal also getting my $ 17,400.00 short sale negotiating fee from Ocwen. My boss loved me for about 2 minutes and said close more deals!

Comment by Rhonda Scott on June 7, 2010 at 10:31am

This Bank SUCKS!!! And I am joining in on never dealing with anyone who has a loan with Ocwen. My file came from Saxon we had an approval with Saxon but the buyer could not close in time before the file was sent over to OCWEN. They had this file in review since 12/09. I had been told many things as to the file has been approved, oh it was approved but now it is back in review. Oh we don't care if by June we have a auction date. Our policy is that we don't stop auctions even if the file is still in review. I never had a request for a BPO ever. I am inclined to believe that they would rather let the property go to foreclosure. This was such a frustrating experience.

Comment by Karyl Moore on May 26, 2010 at 1:34pm

If you are offered a short sale listing and Ocwen is involved - don't take it. It appears from my recent expereince they do not do extensions, as I read elsewhere here. I do not like calling a client to tell them their house has been foreclosed. See the attached link to an ActiveRain article.

Comment by MeLisa Minter on May 18, 2010 at 3:04am

Hello all,

I have a new client that has a 1st with Ocwen and 2nd with Wells Fargo. His situation is so convoluted, it would take me hours to explain.

So the long and short of it is, in 2004 his property was valued at $600K per tax. Today, it is valued at $325K. He went through major medical problems and has filed bankruptcy. Now Ocwen has a sale date of 7/5/10. He wants to offer them a settlement amount of $200K. He has already offered Wells $18K on their $44K second and they accepted.

My question is, should he try to settle with Ocwen, before I start the short sale, or should I just start the short sale as well?

Comment by Rob McGarry on April 27, 2010 at 9:42am

Jason, This all happened in Feb/March 2010. Payoff percentage on the 1st was about 75% on a pretty big loan (I'm in a super jumbo market).

I know you are looking for some sort of "silver bullet" explanation, but it really did just happen as a result of some tenacious hard work, but it didn't happen overnight either. I worked very hard on this. It seems that when the bank finally recognized that we were acting under advice from legal counsel and that we weren't backing down, they pushed it through.

Comment by Jason Glee on April 27, 2010 at 2:36am

Rob, when did you get this letter...date wise, recently, 2009, 2010 ? Want to make sure this is a 'current' transaction, and if you could add a little transaction detail..specifically the payoff % on 1st. What did borrower owe on 1st and what did Ocwen net , were they very, very close ?...I may be wrong but it feels like there are some details here that allowed you some lateral negotiation that a typical short sale transaction may not have. Sorry, I didn't mean to poopoo your tenacity and gumption , but suggesting that by mere mention of legal council advice that Ocwen rolled over and issued a Paid in Full is ludicrous.

• ‹ Previous
• 1
• …
• 36
• 37
• 38
• 39
• 40
• …
• 43
• Next ›
• Page