Comment

Comment by Carmine R Biello Jr on July 19, 2012 at 5:55am

Hi Wayne. Contact me at [email protected] and I will give you the skinny on Homeward. Too much to detail on the post thanks.

 

Comment by Wayne Brooks on July 19, 2012 at 5:46am

Great, I'm just about to start one with Bank United AND I just started dealing with Homeward Residential, who bought a WF mortgage that's in foreclosure.

 

Carmine:  Anything you can tell me about Homeward Residential would be appreciated.  I've talked to 4 different rep.s so far about getting a house with a severe roof leak tarped, and I've 6  different answers.  If there's going to be a surprise 1% I need to figure out where to put it.  I'm doing the 3rd party negotiation on this one, and I WON'T let them squeeze the Realtors for it!

Comment by Carmine R Biello Jr on July 16, 2012 at 12:24pm

Yes that is true! Whats worse is American Home Mortgage Servicing Inc.(AHMSI)  now known as Homeward Residential is charging the Buyer an administrative fee of $600.00! That's just not right! FYI  ;-)

 

 

Comment by Thom Colby CA Brkr 888-391-5245 on July 12, 2012 at 3:13am

That's interesting - if this is Bank United "of Texas", I was a VP there from 1994-1998.  They did TONS of "marginal" loans.  That Bank United was originally formed and owned by Lewis Ranieri - the creator of Mortgage Backed Securities.  Shortly after I left the bank, it was sold to WAMU and, as we all know is now Chase.  Bank United "of Texas" actually no longer exists. 

There also is an unrelated regional "Bank United" in Florida which I believe still exists.

 

So it is interesting that Bank United is charging 1% - they may have kept a shell company to get rid of bad loans.  Ask your negotiator if they are owned by Chase.