Alfred R Wetzel's Blog (2)
PHH Mortgage CitiMortgage
1st mortgagee, PHH is requiring Citi, 2nd Mortgagee to provide Deficiency Waiver. PHH is giving defiency waiver. Borrower is investor recently discharged from bankruptcy. Citi, who is getting the usual $6,000 says no.
Since PHH is not giving waiver out of the goodness of their heart I'm assuming the borrower bankruptcy is the reason. If so anybody have an opinion why Citi is unwilling?
Added by Alfred R Wetzel on April 24, 2015 at 5:22am — No Comments
Anither OCWEN Nightmare
We recently had a listing agreement for a home, sold it , got approval for the price. Ocwen refused to approve the transaction and forced us to list it through them, on their auction site with an reserve price equal to the contract sales price $150,000. Any bidder is charged a transaction fee and a percentage 1.5% over the successful bid . The origional contract buyer…
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Added by Alfred R Wetzel on June 2, 2014 at 6:22am — 1 Comment
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