I have a situation where the first and second on a short sale are requiring an approval letter from the other before they will issue an approval. On the short sale OCWEN is the first and Chase is the second. We had an approval from Chase that expired and were told to re-send the packet for another approval. When we contacted Chase we were told that they were not going to give another approval without an approval from the first. OCWEN is saying they will not give an approval without and approval letter from the second. Our position is to send in the original approval letter from the second to the first and see if they will accept that amount, and then see if the second will still go with that. Has anyone ran into this situation, if so is there a better way to go about this?
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