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Comment by JulieAnn DeCeunynck on January 26, 2011 at 2:03pm

i have been  working on a 1st with Chase and a 2nd with US Bank, however US bank used Evergreen Mortgage to service the loan. I just got a call from Cindy at Evergreen telling me they no longer do short sales....has anyone heard this? does anyone have a good contact person I could go to for my 2nd?

Comment by Jeff Payne on January 5, 2011 at 8:10am

You might try to escalate to MGIC, I Have before to get the truth....

Comment by Patrick McGuire on January 2, 2011 at 6:22pm

recieved this response in an email today from negotiator "The amount that will be given to the 2nd mortgage holder is $500.  This is due to this mortgage being insured by MGIC and this is their limit." What does this is their limit mean?

Comment by Jeff Payne on December 16, 2010 at 3:07am

I am pretty sure that US Bank reads these blogs.....  IF YOU ARE READING, US BANK.....  Please, Please, Please let us help you set up a proper system for managing and processing short sales.  Bank of America used to be the worst of the worst and since going to Equator, they have risen to the top as far as working with agents and processing these files.  No more lost files, lost faxes, negotiators hanging up on us, no more 25 phone calls just to reach someone who is willing to help, no more nonsense.  My phone number is 850-890-0132, Please call, I will personally set you up with Equator's people.   We are here to help.

Comment by Nicole F on December 15, 2010 at 10:03pm

Tonight I did a google search for Dana Kozak, whose name has appeared on a number of loss mitigation letters which I have received from US Bank. I came across this delightful tidbit:

 

Dana Kozak, AVP, Loss Mitigation & Default  216-475-7542
As AVP of Default Servicing, Ms. Kozak manages all staff responsible for the Collections, Loss Mitigation
and Default Reporting areas of U.S. Bank Home Mortgage’s MRBP Division. Dana and her team of
counselors have been recognized both by HUD (Tier One Ranking) and Freddie Mac (Hall of Fame) for
their outstanding efforts and records of successes. Dana’s passion for successful Loss Mitigation
combined with her compassion for first time homebuyers has afforded her the opportunity to
implement many innovative procedures in her areas of responsibility. Dana joined U.S. Bank Home
Mortgage (then The Leader Mortgage Company) in 1990 and has offered her managerial skills to several
departments within our organization, including Payment Processing & Lockbox, Customer Service and
Insurance.  [email protected] Bedford, Ohio

 

Comment by Cindy Chamberland on December 1, 2010 at 5:08am

Hi JulieAnn: I am told that an Alisha Henry has my file as well. I submitted my under contract to USBank on 8/25/2010 and I have called weekly to get updates and on file and everytime the person on the phone will tell me we are still in the set up process waiting to be assigned to a negoiator - This has been REALLY frustrating.. Anyone have any advice how to push this along?! I had my sellers attorney fax in a letter to try speed things up and so far that hasnt helped..?

Comment by Jeff Payne on November 23, 2010 at 10:51am

JulieAnn, ther is alot of misinformation around about US Bank. I have closed several and have 3 right now and I have never heard of Alisha Henry. Fax your package to the number above and get after them :)

Comment by JulieAnn DeCeunynck on November 23, 2010 at 10:40am

I've been told a couple of times now that Alisha Henry is the ONLY person in the country that sets up short sales for US bank? Sure feels like she is the only one!

Comment by Jennie Blackburn on November 22, 2010 at 10:05am

Guy,

I would love an answer to this. My client has an approval letter releasing the lien but not forgiving the debt. He is willing to sign a small prom. note in exchange for peace of mind -- he does not want to be haunted by a huge deficiency (here in FL, the lender has 5 yrs to get a judgment in court and up to 20 years after that to pursue) for years to come. Offering to sign a prom note is the last resort. I am trying everything else first.

Comment by Karyl Moore on November 22, 2010 at 9:22am

I wouldn't volunteer that up front and you don't need to. Protect your sellers' interests. Just do the short sale process like normal and at the end they may or may not ask for a note from the sellers. You should argue with them if they do and they will either reduce the amount or take it away altogether. If there's no way around it, the sellers can sign a note. If they do sign a note, be sure you get in writing that it releases them of the deficiency.

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