Replies to This Discussion

Permalink Reply by Kent Dills on February 26, 2010 at 3:13am

Tasha, I'm going through a similar experience with OCWEN right now. Had to fax in the short sale package 3 times before they got it uploaded. Then they kept confusing the 1st and 2nd loans. Then they shut down the file without telling anyone because the real estate commissions were 6%. Supposedly they have a "rule" limiting commissions to 5% or less. Then I had to do a CMA/BPO. I think it's a way for them to get the BPO for free. No problem because I got to chose the comps. I'm on my second time faxing them the CMA/BPO as they didn't get it the first time.

I have closed 2 shorts with OCWEN previously and those went fairly smoothly. They've seemed to "offshore" a lot of the work now and it seems things are more uncoordinated now.

Keep you head up and don't give up. We'll work our way through the muck together! :-)

Permalink Reply by Tasha Griffin on March 8, 2010 at 3:39am

Hi Kent,
I swear these people are just plain clueless!!!! On the 1st, they had submitted it for an approval, on the 3rd, they told me it would be answered by today. I call this morning, and they have no record of it being sent for an approval. She is really not trained to handle this. She keeps asking me what is on the HUD and then tells me she is looking at it. I think they should have people trained to READ English before allowing them to handle american currency! Ugggh! This is frustrating. I did not have this munch trouble with BOA and I don't know many who have said that. If you hear of any other good tips, let me know. I'll do the same. Great way to start Monday. :-)

Kent Dills said:

Tasha, I'm going through a similar experience with OCWEN right now. Had to fax in the short sale package 3 times before they got it uploaded. Then they kept confusing the 1st and 2nd loans. Then they shut down the file without telling anyone because the real estate commissions were 6%. Supposedly they have a "rule" limiting commissions to 5% or less. Then I had to do a CMA/BPO. I think it's a way for them to get the BPO for free. No problem because I got to chose the comps. I'm on my second time faxing them the CMA/BPO as they didn't get it the first time.

I have closed 2 shorts with OCWEN previously and those went fairly smoothly. They've seemed to "offshore" a lot of the work now and it seems things are more uncoordinated now.

Keep you head up and don't give up. We'll work our way through the muck together! :-)

Permalink Reply by Matt Kuchar on May 4, 2010 at 3:30am

I also had a short sale package at Saxon on a first and second loan and had it switched to OCWEN after 2 months negotiating at Saxon. I am in the process of submitting this to OCWEN with all updated information. Any tips on getting things through faster? Should I submit a BPO with my package?

Permalink Reply by Anita Sanda on March 30, 2012 at 5:36am

I realize this is an old post but did any of you have any success closing these "Saxon sold to Ocwen" mortgages? I represent Buyers who have waited for 2 months on a short sale with Saxon only to find out the loan was just sold to Ocwen. Please share anything you know that might help us in the process. Thanks!