Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on October 18, 2011 at 6:29am

http://www.scribd.com/doc/69318918/Ocwen-HAFA-Matrix

Permalink Reply by Jennie Blackburn on November 9, 2011 at 6:28am

Please Help Me!!!

I am having a problem with OCWEN on a HAFA short sale.

Ocwen told us they would  not issue an approval letter for short sale until we took the borrower's $3,000 off the HUD.  When we protested that this had been approved for HAFA & the seller was entitled to the $3,000 for moving expenses, Ocwen said that $$ was going to be applied to Ocwen's net proceeds (HAFA regs specifically prohibit this).
 

I know that's wrong, but the seller was mainly interested in debt forgiveness and we figured if we raised too much of a stink, they would not waive the deficiency.

 
The 2nd lender, Wells Fargo, noticed the $3,000 missing from the HUD and tells us Ocwen must pay it if it's HAFA, or give us a reason why not.  Because if this is not a HAFA deal, our approval from the 2nd goes away and we have to start all over again in the non-HAFA department and debt forgiveness  is not automatic.

Now Ocwen says they did not approve this for HAFA. We read him our notes, detailing the November 1st call from our Ocwen negotiator who said the revised approval letter with the $3,000 HAFA $$ included would be sent to us in a couple of days.

The 'negotiator' we spoke to today claims the guy we talked to during our Ocwen-scheduled negotiator phone call was just a customer service rep. who didn't know how to read the file. When we asked him why they were denying for HAFA, he kept saying missing paperwork, but when we drilled down to find out exactly which documents were missing,  nothing he said held water.

If this is not HAFA, then Wells Fargo will not forgive the debt on the 2nd.  AND lis pendens has been filed, so it could be sold out from under us before the short sale.

Anyone have contact info for someone in the Treasury Department? HELP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

http://goo.gl/uoz1v

Permalink Reply by Denise Sipple on November 9, 2011 at 7:42am

Email me at [email protected]

Permalink Reply by Jennie Blackburn on October 28, 2011 at 8:06am

HAFA deal, Ocwen told us they would  not issue an approval letter until we took the borrower's $3,000 off the HUD.  When we protested, Ocwen said it was going to be applied to their net. I know that's wrong, but the seller was mainly interested in debt forgiveness and we figured if we raised too much of a stink, they would not waive the deficiency.

The 2nd, Wells, noticed this missing from the HUD and tells us Ocwen must pay it if it's HAFA, or give us a reason why not.  Because if this is not a HAFA deal, our approval from the 2nd goes away and we have to start all over again in the non-HAFA department.

Anyone have experience with this with Ocwen or other HAFA servicer?

Permalink Reply by Suzanne White on November 1, 2011 at 9:21am

I went through the same issue.  Even called the HAMP help line for help and was told OCWEN can pretty much do what they want if the investor is not Fannie Mae or Freddie Mac.