Escalation Number for Freddie Mac? - 2 questions?

I have a Cenlar 1st going nowhere . . no feedback, no responses to emails or voicemails. It is a Freddie Mac loan, and the ratified contract has been with Cenlar (using Bayview Loan Servicing) since March 10.  I suspect that it has never yet gone to Freddie Mac.

I therefore need to escalate it to Freddie Mac.  Can someone give me a best phone number to get hold of someone there with some clout, or at least to address a formal complaint or escalation process?

2nd question . . Cenlar up front insisted that Freddie Mac would only allow "$6,000 or 10% of 2nd lien, whichever is lower" as 2nd payoff and made me put $1,900 on the draft HUD1 as payoff to 2nd as the 2nd (Ocwen) is $19,000.  Ocwen have already given 2nd approval but subject to receiving $6,000 at settlement, and insists that Freddie Mac *WILL* pay $6,000 regardless of the outstanding balance.  I thought the original Cenlar version was correct, can anyone shed light on this for sure?  Obviously I can clarify during my "escalation" process once I contact Freddie.

Views: 711

▶ Reply to This

Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on May 12, 2013 at 2:32pm

By Freddie's own Guidelines it appears they offer the full $6000 when there is only one subordinate lien.

http://www.freddiemac.com/singlefamily/service/short_sales_FAQ.html#14

Permalink Reply by Kevin - Greenville, SC on May 12, 2013 at 2:32pm

For escalation's e-mail - 

[email protected]
Permalink Reply by Chris Laurence on May 13, 2013 at 2:00am

Thanks Kevin, for your two responses. I will try the email, it's the only hint I've had so far! I really need to speak person to person to someone, so hopefully it will elicit a response.

Thanks for the FAQ link, I think it's still a little grey as it still refers to the maximum $6,000, not necessarily some other factor (e.g. the small loan size) that might limit that number. I need to delve deeper into their full guidelines, or hope that a phone call on the first part of my problem can resolve the second!

Thanks again, I appreciate it.

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************