Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on October 16, 2011 at 9:18am

Bottom line, you need to find out who the investor is.

Permalink Reply by Lauren Mayer on October 17, 2011 at 6:54am

Thanks Kevin - do you know how to find that out without having to wait for their research department to get back to me?

Permalink Reply by Karyl Moore on October 16, 2011 at 9:24am

With Ocwen, I would say to count yourself lucky.  They usually make you jump thru hoops for 4 - 6 months before telling you 'no.'

Do a deed-in-lieu if it will get your client some money ('cash for keys').

I do not like Ocwen, as you can tell.  I will never take another listing where they are the lender.

Permalink Reply by Amy Summers on October 16, 2011 at 10:33am

Very similar to what happened to me last week.  Only they had been jacking me around asking for more documents for the last 6 weeks,(had been told several times that my package was complete)  then one day after they decide they had the final document, got the same denial.  I asked who the investor was, they said they don't know. I asked, "so you didn't actually present this to the investor?" They said they have a chart that tells them what investors will do what.  Check my disscussion from Thursday with more details.  I am waiting to see if I get a reply from the research dept.

Permalink Reply by Lauren Mayer on October 17, 2011 at 6:53am

Thanks for the responses!  Amy - I called the spanish speaking line and got a tiny bit more help.  She said that they do look at the offer and then check to see who owns the loan - and if the investor does not allow short sales - they immediately send the denial letter.  She couldn't tell me who the investor is - and said to send a letter...which could take up to 15 days to hear back from them.  I also have an appointment with a resolution specialist - but not until 11/2!  I have another question - there is also a second trust with Ocwen - is there any way to find out who owns that loan?  Ocwen said I have to send an email to their research department to find out.  I am so discouraged about this now.  If you get a reply from research - let me know.  Good luck!