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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 Thom Colby CA Brkr 888-391-5245 on March 12, 2014 at 7:01am

Stephen - Why are you frustrating yourself on this file?  Ocwen is not being realistic and they will force you into HUBZU. Then you will still have the Hoarder to deal with.  If it were me, I would cancel the listing, and let Ocwen deal with it. What happens if you were to continue with this file and you got it to close but the seller won't / can't move out.  You would likely be sued (because everyone likes to sue agents) for not delivering the property on time and vacant.  Good luck!

Comment by Stephen Shafer on March 12, 2014 at 4:23am

I am going thru a similiar situation, I have a hoarder house that was approved twice in the past at 300K & 380K but the buyer could not close on time due to underwriting issues. I resubmitted the $385K offer with the buyers appraisal & inspection report & it was declined. The negoitator said the investor wanted a net of $392K so my buyers upped the offer & again declined, The negotiator then said the investor really wanted a net of $442K even though the appraisal is in at $385K. They want $85K more than the appraised value!

Comment by Ellen Dittman on March 11, 2014 at 8:09am

Hello All!   We have all the paperwork in, last week was told by negotiator that we'd have approval in about a week as all looks "good" and in line with BPO. Now I called and they say I need to make appointment with "relationship manager". They say it is because the HUD is too low (exact words). The person asked if I could submit a HUD for the "higher offers". We dont have another offer, we've been negotiating this one for 4 months!  So I asked if there was a minimum net they needed. Negotiator would not reveal-said at this point I can only have my appointment with the relationship manager. Does this sound bizzare to any of you? It is not the OCWEN I have dealt with in the past.

Comment by Jim Schneider on February 28, 2014 at 8:04am

I just got off the phone with the short sale department at OCWEN, and they are saying that they still participate in hafa, but they don't have to issue a pre-approval letter. I thought that was the whole point of HAFA. Can participating lenders avoid issuing the letter?

Comment by Donna Gallegos on February 7, 2014 at 3:54am

Oh My! Had I read all the comments sooner I probably would have ended my listing. It started as a normal sale however, now the sellers are going through a divorce and no offers at the listed price so me and my infinite wisdom thinks "oh heck yeah" I'll short sale it. OMG not looking forward to this process at all. Thanks for all your contributions and comments, I will add mine as I deal with Ocwen.. ugh...

Comment by Vikki Lucas on January 8, 2014 at 3:22am

Sharing so that all can see that the Consumer Financial Protection Bureau has found out what we knew all along, Ocwen is a pretty slippery customer.

 

http:/www.consumerfinance.gov/newsroom/cfpb-state-authorities-order...

Comment by Estella Drake, CDPE on December 13, 2013 at 12:41pm

December 12, 2013 - Finally received a 5 day HAFA approval to submit to the 2nd CitMortgage which Citi should approve on Monday to return to Ocwen for the full HAFA approval letter. Here is the problem, I have information after waiting the 2 months for approval the loan will be Service Released to Ocwen India and their will be a 10-15 delay after it is released on January 1st. Now, the seller has not been formally notified in writing and this is wrong.  Why are our Federal HAFA Approved Short Sales being transferred to India Ocwen when they should be taken care of here in the USA? It's too late to get the sale closed by the end of the month per the Buyer's FHA lender so  here we go again, another dela,y and hopefully the buyer will stick around!  Anyone else feel the same way about moving HAFA short sales out of the country or are you going through the same investor game? Does anyone know of a way to get them to keep the loan here so we can close by mid January?

Comment by Elvira Quiray on September 3, 2013 at 2:08pm

I have an FHA short sale with OCWEN. This is the third contract I have for this property. Now OCWEN asked the sellers to apply for a HAMP first, get denied, then apply for a short sale. I've had 2 approvals before, but FHA has changed the guidelines. My sellers got denied last month. So now, I can submit the short sale package. It is only then that they will assign a negotiator, and place the property in Equator. In the meantime, all files have to be faxed or e-mailed.

Comment by Seth Russell on September 3, 2013 at 1:56pm

Has anyone noticed Ocwen is not a listed Lender on Equator when trying to initiate a short sale? Am I missing something? Last July they announced they were now utilizing EQ to process S/Sales.

Comment by Bill Seufert on August 27, 2013 at 5:02am

Thanks Chad. Still trying to get the info from OCWEN about the investor. It isn't FAnnie, Freddie or MRES. I have had 2 different offers both similar in price but they won't move. I asked for an updated BPO, which they did, and it came back higher even though I sent the agent comps and the contract.

 

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