Replies to This Discussion

Permalink Reply by Teri Shaughnessy on June 23, 2012 at 9:16am

I would like to know the same thing!  Did you use the short sale package that is on this site?  I was told to email to [email protected] to request their package but they have not responded.  Any help would be apprecaited!

Thank you.

Permalink Reply by Charles W. Noble on June 25, 2012 at 5:56am

We did whatever US Bank asked and quickly.  They just surprised us with the PMI thing.   They wouldn't let us talk to them directly.  The PMI was searching for a way to find assets they could use to ask for a promissory note, but I think they found out that my clients just didn't have the assets and relented.  

Permalink Reply by Charles W. Noble on July 9, 2012 at 5:31am

The PMI said OK, then it went bank to the bank.  They said that they would send the paperwork within a couple days, then they came back with a "no".  what the heck?

Permalink Reply by Jim Schneider on June 23, 2012 at 10:54am

I would try this the roundabout way, send in a letter of authorization to the largest five PMI companies, then call 48 hours later. With those five you can probably cover about 90% of the market out there.

 

x MGIC Investment Corp
mgic.com
MGIC Loss Mitigation Department
Phone: 800 272-4071
[email protected]
Fax: 1-888-601-4440
General mailing address:
250 E. Kilbourn Ave., Milwaukee, WI 53202 or
P.O. Box 488 Milwaukee, WI 53201

xPMI Group Inc.
http://www.pmi-us.com/about_pmi/
Contact Loss Mitigation

Loss Mitigation
 Email: [email protected]
 Tel: 800.685.4764  |  Fax: 888.305.2956

Delegated Workouts/Reporting
 Email: [email protected]

Borrower Outreach
 Email: [email protected]
 Tel: 800.497.4764

x Radian
Corporate Office
 1601 Market Street
 Philadelphia, PA 19103
 800.523.1988
 
Customer Care
 Hours M-F 8 a.m. - 8 p.m. Eastern Time
 Phone 877.RADIAN1 (723.4261)
 
MI Renewal Premium Mailing Address
 Radian Guaranty Inc., Attn: Premium Processing
 P.O. Box 823225
 Philadelphia, PA 19182-3225
 
Media Contact
 Emily Riley 215.231.1035

Loss Mittigation 800 523-1988 x 1391 or 1267

Genworth
Genworth Mortgage Insurance
8325 Six Forks Road
Raleigh, North Carolina 27615
919 846.4100
800 444.5664 Toll Free
genworth.com
mortgageinsurance.genworth.com

Old Republic International

CMG  (Joint venture PMI Group and CMFG Life Insurance, tends to handle pmi for credit unions)
http://www.cmgmi.com/
CMG Mortgage Insurance Company Claims and Loss Mitigation Department 595 Market Street, Suite 400 San Francisco, CA 94105
Toll-Free (800) 909-4264, option 6 FAX Number: (415) 369-8808
[email protected]

United Guarantee  (AIG)

 

Good Luck, and let us know how it goes.

Permalink Reply by Charles W. Noble on June 25, 2012 at 5:55am

Thanks so much for that side angle shot idea :).  The bank called back and approved the deal but I will definitely use this in the future and thank you for your insightful thought on the matter.  Banks share ideas all the time and it is great to see agents doing the same.  

Permalink Reply by Charles W. Noble on July 9, 2012 at 5:32am

Update:

The PMI said OK, the bank said OK.  US Bank was supposed to send the paperwork within a couple days then they called back and said "no"  with no reason.  

Permalink Reply by Stephanie Hart CA 310-930-2342 on July 10, 2012 at 7:06pm

UGH!!! Sounds very frusterating... I love the contact all PMI companies idea though....When I had a stall out from a MI co previously I called a CS # until someone finallly slipped and told me who it was. Then I called the Co and she didn't even know the buyer was willing to give 10K to make it go away. Had an approval rather quickly!

Permalink Reply by Charles W. Noble on July 12, 2012 at 11:28am

That's the short sale game, you have to chase the deal - no one else will.  It's hard for someone getting paid hourly to be as motivated as an agent who only gets paid if they get the deal done.