"THE MESSAGE I SENT TO FNMA AND OCWEN'S ESCALATION DEPARTMENTS - 12 OFFERS SO FAR: "STARTED THIS FILE IN OCTOBER OF 2012 WHEN IT WAS UNDER HOMEWARD RESIDENTIAL. DEALS HAVE BEEN KILLED DUE TO MERGERS, VALUATION DISPUTES, ETC. WE…"
"OCWEN insists that the ARMS LENGTH affidavit be notarized by seller, list agent, buyer, buyers agent - who are all in different cities. IS this a BS stall tactic or does OCWEN really intend to close this deal?"
"I am doing one with Prosperity Bank. They are offering $375 commission per side. It is a low dollar vacant land deal but they blew a $40K land deal over $250. Gotta hang tough and demand compensation.
"I do not believe the FBI is investigating short sales. They are investigating bidding at foreclosure auctions for antitrust violations.
There is no fraud in submitting a single contract for approval. I will never submit multiple…"
"I had the same thing happen. PMI was actually the ones insisting on prom note in my case. Went directly to PMI and they would not relent - Chase and PMI insisted on promissory note for $30K. The seller would not sign, the property will be sold at…"
"When we have done it, like Jeff, the response is VERY timely, 7 to 10 days.
The QWR is also the documetn used for forensic loan audits....once the bank is aware you MAY do this, thye again tend to be VERY cooperative.
As with ANYTHING on a…"
"Larry, I have only needed to do this a few times last year, once with EMC and once with Indy Mac, and both times the seller had a letter sent back to them with the information in less than a week. This was for PMI companies and not the…"
"You are making a good suggestion on QWR: However in practice there is a huge time delay. Meaning most banks will take at least 60 days to get the QWR to you and in practice it turns out closer to 75 -90 days. Plus initially it is usually…"
"Jeff is correct on the QWR (you can also use this to find out who the Ivnestor is on the loan).
Send me an e-mail, [email protected], and I will get you a copy of what we use.
"Delegated authority" comes when the Servicer…"
"Phil, You may have to send them a QWR, qualified written request, to find out who you are dealing with. PMI is tough to deal with because they have to write a check to Chase for part of the loss but you should be able to get it reduced or down…"
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