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Ocwen short sale information

This group is for information, tips and solutions for OCWEN short sales.

Members: 648
Latest Activity: Mar 18, 2022

Ocwen Short Sale Information

 

 

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Ocwen Short Sale Package.pdf

 

Fax for Third Party Authorization 1-407-737-6300

 

Fax for Short Sale package 407-737-6352 (updated August 2014)

email [email protected] 

 

Short Sale direct phone 877-596-8580

 

Customer Service 800-746-2936

If you need to get in touch with the home retention dept that number as listed on the paperwork is 877.596.8580.


The hard ship package should be faxed to the home retention dept at 407-737-6352

[email protected]   For short sale packages

The contact #: 800-746-2936 option 4 then option 9

If you can't locate the loan try Loss mitigation at 877-521-3698

FX for LOA: 866-501-1610 EM SS Pack to: [email protected]

 

FOR ESCALATION; Use sparingly......

[email protected]  this should be where you start.

2nd escalation is Michael Rapp at the following email address [email protected]. as of 9-11-14

AND.....Ocwen's Ombudsman is a consumer advocate, they'll work with you to get issues resolved. Give them a call, they are super to work with.  The first time I called them, they put me in touch with someone who got me an approval.  I would call and email them: [email protected]    Phone: 800-390-4656.
Ocwen Loan Servicing
P.O. Box 24737
West Palm Beach Florida 33416.
https://www.ocwencustomers.com/home.cfm

Ocwen Loan Servicing LLC - Servicing Transfer Information

Servicing Transfers to Ocwen
o Ocwen will honor all non-expired short sale approval letters issued by the prior servicer. An
approval letter reflecting the originally approved terms will be re-issued on Ocwen letterhead
when the loan is transferred .
o Short sales in process but not approved by the prior servicer will require an Ocwen short sale
package to initiate a new request .
o All Authorized Third Party information provided by the prior servicer will be uploaded as part
of the loan transfer process, so as to minimize disruption to the communication process.

Discussion Forum

Games that Ocwen plays

Started by Larry Sarlo. Last reply by HarryJohnson Mar 18, 2022. 18 Replies

first it was GMAC then serviced by Ocwen had to update the entire file, then ocwen took over the entire file and had to again update the entire file...  then borrower was not qualified for HAFA  then…Continue

Ocwen transferring all loans to PHH MOrtgage

Started by Jeffrey W Wolff. Last reply by Dean E Eshelman, CPA, CDPE, IRES Feb 7, 2019. 1 Reply

Just so everyone knows, Ocwen is in the process of transferring all their loans to PHH Mortgage, which I believe is a subsidiary to Ocwen.Major issues with this.JeffContinue

Will OCWEN approve shortsale on vacant home?

Started by Katie S.. Last reply by Katie S. Mar 22, 2018. 6 Replies

My basic question is, would OCWEN approve a short sale on a house that has been vacant for 9 years? It was a single family primary residence before the owners defaulted in 2007 and moved out in 2009.…Continue

OCWEN GIVING INVENTIVE PAYMENT TO TENANT

Started by Kathleen Sheridan. Last reply by Brett Goldsmith Sep 12, 2016. 2 Replies

We are doing a short sale on a tenant occupied duplex. One unit is vacant, the other is still occupied. Ocwen says to put $10,000 on the HUD as an incentive for the tenant.Does anyone have experience…Continue

Comment Wall

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Comment by Nolberto on July 17, 2013 at 10:44am

@Vikki, the investor has the last say so and from what you've mentioned that is a private investor. You are better off going traditional instead of HAFA unless you client request it otherwise. 

@Ute, I find way, way  faster and productive to go by e-mail at [email protected] (short sale). By the way, you could send the whole package to that e-mail. 

Comment by Ute Ferdig on July 17, 2013 at 10:18am

I spoke to Ocwen today.  They told me that the fax # for third party authorization was 866-501-1610.  It appears that the fax # listed for TPA on this page is no longer active (the Ocwen rep could not find the TPA that I faxed to them a week earlier to that #).  I confirmed with my extended escrow services rep that Ocwen's fax for TPA has been changed to 866-501-1610.  This is current information as of 7/17/2013.

Comment by Vikki Lucas on July 12, 2013 at 4:38am

I have a question and I'm wondering if others have run into this. For the first time ever I have requested HAFA on an Ocwen loan and been turned down. This file is now approved for a traditional short sale. When I called Ocwen I was told that the INVESTOR does not participate in HAFA. I thought it was the servicers who had to comply, not the investor. This is a regular OCWEN short sale, not released to OCWEN by GMAC. Any advice? Vikki

Comment by Celeste ODea on July 12, 2013 at 3:11am

Would you contact the Ocwen Escalation department for issues with IndyMac/Ocwen?

Comment by David Curtis on July 10, 2013 at 5:49am

Thanks, Angel

Comment by David Curtis on July 8, 2013 at 6:24am

Has anyone received a approval for a short sale with Ocwen and your buyer wasn't able to close, then you brought in a new buyer to close out the transaction and if so what was the process and time span you went thru to change out buyers?

 

Comment by Linda C. Babbitt on June 28, 2013 at 1:27pm

I thought BOA was tough until I ran into Ocwen.  I was optimistic when I realized they used Equator, but I can't believe the insanity.  Talking to people who tell you the file is going to be moved to a short sale in the famous "5 to 7" business days then calling back only to be told by yet another person the identical story you were told before you waited the "5-7 business days"  I have closed a lot of short sales and this is the first time I have been told that the homeowner can not participate in a short sale because FHA guidelines says they must participate in the Loan Modification process.  Hmmm ...let's see is this a new guideline?  I think not!  Depending on which lender you are working with or who your negotiator is, determines if you are moved along in the process. It has happened over and over again that one negotiator says you need something, and then suddenly that processor "leaves the department" you get another person who tells you something completely different.  You have one person tell you there is no way you can close and then an angel falls from the upper level of management to speak with you with a totally different level of understanding and your closed within 48 hours.  They need to position these angels at the beginning of the process and we could completely wipe out the short sale inventory.  Or would that not be the objective??  These servicers need to be held accountable.  And I don't mean manipulating the system by using the "5-7"  business day loop hole to avoid dealing with the difficult situations that they have no idea how to handle.

I have ranted long enough.  Does anyone have the Ocwen escalation angel's number?  Thanks, Linda

Comment by Chad Gelsinger on June 17, 2013 at 11:27am

Does anyone have any information on whether Ocwen will allow a Short Sale or Loan Modification on a "balloon mortgage"? I have a new client and she is stating Ocwen will not entertain a Short Sale because it is a balloon type loan. Any thoughts or comments? Thanks, Chad.

Comment by Wendy Smith on June 17, 2013 at 11:10am

the drama continues - today Ginnie Mae clarified (what Kevin said on May 22) as such ..." confirm to you that Ginnie Mae does not participate in making this decision.  These decisions are made by the lender who complies with the loss mitigation rules made by the appropriate federal agency (FHA,VA, RD) that either insures or guarantees the loans which participate as collateral in Ginnie Mae’s MBS program."

So now, Ocwen quit blaming the investor for no waiver.   I'll try the links Dean provided.  This really rips me. 

Comment by Dean E Eshelman, CPA, CDPE, IRES on May 23, 2013 at 7:42am

Someone needs to get a hold of OCC, CFPB, Congressman. This should not be happening. Also don't forget about resources available to Veterans. I did not see if he is active duty or not. The links are on the last page of this newsletter. http://portal.hud.gov/hudportal/documents/huddoc?id=OHC_BRIDGE05211... 

I am on the Missouri/Southern Illinois Chapter Board of Directors.

 

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