Erik Larson
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  • Rocklin, CA
  • United States
  • California
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Erik Larson's Discussions

Ocwen short sale with Deutsch Bank investor

Started this discussion. Last reply by Victor Mendoza Oct 15, 2014. 2 Replies

Oh great Forum, we are back! It's been awhile since we have done a short sale without Fannie or Freddie involved, so were looking for some advice. I can't remember if these are easier since Fannie…Continue

Junior lender declines HAFA approval

Started this discussion. Last reply by Kevin - Greenville, SC May 15, 2013. 17 Replies

We have had a lot of recent success with our short sales, but we have just now experienced first hand, the drastic changes coming to our profession!We have a HAFA approval through BofA, which is…Continue

Second liens being sold during short sale

Started this discussion. Last reply by Erik Larson Dec 11, 2012. 6 Replies

I originally started this thread last night and then deleted it, but now that I have slept on it, my blood pressure is still through the roof and I need to scream at someone. I am kindly going to ask…Continue

Tax liens and abstracts on title

Started this discussion. Last reply by Erik Larson Oct 10, 2012. 3 Replies

Hey all! We just got a referral for another short sale and have never seen this before, so before we put too much effort into it, we wanted the SSS gang to take a look and offer some advice. We got…Continue

 

Erik Larson's Page

Latest Activity

Brett Goldsmith replied to Erik Larson's discussion Ocwen short sale with Deutsch Bank investor
"What state are you in? If you are in California you won't need to worry about Hubzu. Hubzu actually moves a lot quicker than auction.com  from my experience, but the reps at altisource are not fully competent. Not sure how you can bypass…"
Aug 4, 2014
Erik Larson posted a discussion

Ocwen short sale with Deutsch Bank investor

Oh great Forum, we are back! It's been awhile since we have done a short sale without Fannie or Freddie involved, so were looking for some advice. I can't remember if these are easier since Fannie and Freddie are not involved, but we understand that Ocwen has their little Altisource/Hubzu scam that causes issues. We got some great info from the Ocwen forum, but wanted some ideas from the group regarding bypassing that drama and possibly reaching out to Deutsch Bank directly to light a fire…See More
Aug 4, 2014
Erik Larson joined Edward Codelia's group
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Loancare Servicing

A 3rd party company processing short salesSee More
Apr 29, 2014
Erik Larson replied to Tracie Norman's discussion HAFA -
"Ron, I am only referencing what the last 3 negotiators have told us, which is that they will pay $8500 or 10% of UPB, whichever is less. Since they are saying this, we assume it is a guideline? Kevin is the fact checker, we could ping him for…"
Oct 30, 2013
Erik Larson replied to Sheyenne Schultz's discussion Thoughts on Fannie Mae's Homepath ShortSale Escalation portal! Are your overpriced counters getting resolved? yes or no
"We just got a taste for the first time. We have an older home in Sacramento that has termites and a leaking roof and a $70k cash offer. The negotiator for the bank said the BPO came back at........sit down everyone......$149k! Yep you read that…"
Oct 30, 2013
Erik Larson replied to Tracie Norman's discussion HAFA -
"Tracie, you are correct, the senior lenders have been asked to offer 10% or $8500 to a junior lien holder. However, as we have all see over the last 30 years, Banks make up their own rules once the public spotlight is off them and on the fiasco…"
Oct 30, 2013
Erik Larson replied to Chad Stewart's discussion General Info - Ideas with this Lender? 21st Mortgage - 2nd lien position in the group 21st Mortgage
"Sorry we posted this last week, but it never went live. We did have success with 21st Mortgage but it was difficult, to say the least. They purchased $1b of loans from GMAC so our GMAC $2500 approval became a $30k approval from 21st Mortgage. Yes…"
Aug 22, 2013
Kevin - Greenville, SC replied to Erik Larson's discussion Junior lender declines HAFA approval
" My Question to Elizabeth Spring at the Treasury Dept. -  Does the 2nd have to be a HAFA participant to receive the $8500? Her answer - No, the 2nd does not have to participate in HAFA. However our guidance states the subordinate lien…"
May 15, 2013
Tony and Robin Pickett replied to Erik Larson's discussion Junior lender declines HAFA approval
"kevin, I need to speak with someone at Treasury about a HAFA issue with nationstar.  Home appraised for $100k and offer is $100k.  Nationstar is servicing the 1st and 2nd.  By the time the 2nd gets their 6% of OPB, realtor commissions…"
May 12, 2013
Kevin - Greenville, SC replied to Erik Larson's discussion Junior lender declines HAFA approval
"I'm fairly certain the 2nd doesn't even have to be a HAFA participant if they are receiving funds from the 1st, but I will check into that to clarify."
May 10, 2013
Kevin - Greenville, SC replied to Erik Larson's discussion Junior lender declines HAFA approval
"Here is a question I posed to her awhile ago - Would the same hold true with HAFA?  I have a Servicer (Carrington Mortgage Services, LLC) that is telling me the Investor of the Loan doesn't participate.>> On Wed, Mar 28, 2012 at…"
May 10, 2013
Kevin - Greenville, SC replied to Erik Larson's discussion Junior lender declines HAFA approval
"It is my understanding that it is not related to when the 2nd is being request to participate in HAFA and accept what the first is offering."
May 10, 2013
Kevin - Greenville, SC replied to Erik Larson's discussion Junior lender declines HAFA approval
"This is what 2MP is - Second Lien Modification Program (2MP) If your first mortgage was permanently modified under HAMPSM and you have a second mortgage on the same property, you may be eligible for a modification or principal reduction on…"
May 10, 2013
Erik Larson replied to Erik Larson's discussion Junior lender declines HAFA approval
"Thanks all! Yes Ron, we finally got the negotiator to explain that they are only servicing this loan. She would not disclose who the investor is, but said this investor does NOT participate, so we started over in Equator this morning. They are going…"
May 10, 2013
Kevin - Greenville, SC replied to Erik Larson's discussion Junior lender declines HAFA approval
"Ron,  You may want to escalate at Wells Fargo and/or Treasury.  According the Making Home Affordable website Wells Fargo is a 2MP participant. Wells Fargo Bank, NA (includes: Wachovia Bank, NA and Wachovia Mortgage,…"
May 10, 2013
Kevin - Greenville, SC replied to Erik Larson's discussion Junior lender declines HAFA approval
"According to my contact at the Treasury she says VERY few Investors do not participate in HAMP/HAFA. http://www.nclc.org/images/pdf/foreclosure_mortgage/loan_mod/lmp_what_to_do_when_the_servicer_says_the_investor_is_not_participating.pdf"
May 10, 2013

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Erik
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Larson
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Rocklin
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