Lenders should loosen their criteria regarding short sales

Many short sales are lost, and fall out because banks (such as 1st mortgage) have such strict requirements that it becomes nearly impossible to satisfy these ridiculous requirements.

What really buggs me is that many of these requirements (RMA form) are Loan mod forms and make absolutely no impact on the short sale. Why do the banks require these ridiculous forms to be filled out? Who cares how many previous marriages the seller had? Why do these forms have to be filled out at all???

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Comment by Christina Conrad on July 26, 2011 at 7:14am: Yeah...we have decided not to deal with Ocwen anymore..their rules are absurd and make absolutely no sense..they definitely are not looking out for the best interest of the investor....their rule of "we don't ever postpone f/c" is stupid...I hate to be that blunt, but really...come on...banks do postponements of f/c all the time. Obviously Ocwen has no desire to play in the world of ss....sorry to hear about your news Jeremy

Comment by Jeremy Stuart on July 26, 2011 at 7:11am: Hi Christina, here's some more frustrating news from Ocwen:

Ocwen put a sale date on one of my client's properties, and sold it at foreclosure within a week. We called on July 14th and they said no sale date. It was sold on July 22nd. They said that the reason was that there were problems on the HUD that we sent them, which is erroneous, because our escrow said that the changes were flat out wrong!

Comment by Christina Conrad on June 20, 2011 at 9:31am: Has anyone on here had luck with getting foreclosures stopped or postponed through OCWEN?

Has anyone on here had luck with Wells Fargo postponing a foreclosure after their "10 business day" rule?

Comment by Kevin - Greenville, SC on June 3, 2011 at 12:09am: Jeremy, I've been singing this song for awhile if it goes to foreclosure none of that matters!

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