"It sounds like they are just using a play on terminology. Essentially they are accepting net proceeds of x amount and allowing sellers expenses of a certain amount from the gross price. So technically they are seller charges but are distributed from…"
"Technically they are correct. I have seen this before with other lenders and believe it to be a CYA for the lender. Tara explained it well. OCWEN is not paying anything because they do not own the property, they are agreeing to release a…"
"I won't be surprised if this is a new direction on short sales. Remember Ocwen / Altisource (and others) own Real Estate Brokerages throughout the country and every listing an agent takes, is one they cannot grab the commission on. (I…"
"Right...the listing agreement is between the seller and listing agent, but if they are taking that opinion, are they agreeing to "pay" for the escrow fees? Because technically that would be along the same theory. Somebody…"
"The clarity they offered us was, as you suggested, they are honoring our listing agreement, that the seller had agreed in writing to pay us a 6% commission..... That is what we have on our listing contract on each of the several hundred short sales…"
Got something from Ocwen (actually Altisource), saying they are paying no commission, When we questioned them they said that the seller will be responsible for the commission, as per our listing contract..... Has this happened to anyone else? Any ideas?Sean GunningPrudential Americana Group RealtorsSee More
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