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MGIC is not that bad when you compare them to RADIAN!!! Every MI co has a tresholds, guidelines which have to be met in order to receive an approval. If their loss is much more than the "rules" say , then they start to create a problems.;)
Elizabeth said:So now I know why so many people just let the property go to foreclosure. MGIC is tough to deal with. I guess it comes down to how much the people value their credit. You would think BAC would have some negoitation with MGIC, if I was CEO of BAC I would never send any business to them. MGIC is ruining BAC reputation as a servicer because they stop the deal in the tracks. Most people dont know this side of it.
I have been doing short sales for 7 years and sorry but BoA is the worst. I have closed all of them. This is the only bank where it's almost impossible to get someone on the phone to talk to. They are idiotic in their Equator system. I am currently doing 1 with Chase and yes it got bottlenecked but there was someone I could call to get it moving. I just did another one with SPS Servicing and Green Tree it only took 20 business days to get the approval letters. So for someone to say that BoA is not that bad well you must have BoA stock. BoA is the absolute worst of all the banks I have ever dealt with and yes I have even closed a BoA short sale.
Now that's different if you're talking about MGIC. I thoufht you were talking BAC. There should be FBI types, take names types - for the criminal behavior - of oourse my opinion only - of BAC. THere is so much back end payouts and deals and they "service" 80% of their loans so they can say with a smile on their face that they fully support Obama's HAFA program, knowing full well that 80% of loans they service won't sign on. I swear - I''d love to write a book.......
Greg Zajdel said:MGIC is not that bad when you compare them to RADIAN!!! Every MI co has a tresholds, guidelines which have to be met in order to receive an approval. If their loss is much more than the "rules" say , then they start to create a problems.;)
Elizabeth said:So now I know why so many people just let the property go to foreclosure. MGIC is tough to deal with. I guess it comes down to how much the people value their credit. You would think BAC would have some negoitation with MGIC, if I was CEO of BAC I would never send any business to them. MGIC is ruining BAC reputation as a servicer because they stop the deal in the tracks. Most people dont know this side of it.
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