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Green Tree Servicing

Posted by Crystal Wilson on September 14, 2011 at 9:29am in Short Sale Discussions

Looking for any advice with Green Tree servicing as a 3rd lienholder....they are quite stubborn!! I find it hard to beleive the investor who owns the loan won't take 15% of the balance...but Green Tree says no way! 1st and 2nd gave a fast approval with a full release....but not good old Green tree :(

I have worked many short sales and this one takes the cake! Never have had this big of an issue with a Jr lienholder. I expected some negotiating, but they don't negotiate at all! They are cold hard numbers and that is that.

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Replies

  • Smitty September 15, 2011 at 4:05am
    They are the worst.  They are one of the two lenders I could NOT get a full release from.  I did finally get an acceptable payoff number, but the buyer had to contribute more $$. 
    • Crystal Wilson > Smitty September 15, 2011 at 7:52am
      They are horrible to say the least! We have buyer helping and seller doing yard sales & borrowing whatever they can to scrounge up money for Green Tree....but they want more! Really....I wish I could find out if GE Money Bank even knows that Green Tree is going to blow this over about 2k. It isn't like we are not trying...and there is hardship that caused this, but they do not care. Least I know to cry ahead of time next time I hear the name Green Tree Servicing!
      • Wendy Martin > Crystal Wilson September 15, 2011 at 11:03am

        I will never work "with" them again.  Don't believe it when they say there's no one to escalate to.  I asked for her supervisor and threatened to report their "servicing" methods and got up the chain.  They are told to tell you there is no one to escalate to.  They will always require a contribution.  That's just what servicers do.  Keep trying to find out who the investor is....that may be the ony way around their games.  Sorry you are dealing with GT, they flat out suck.

        • Crystal Wilson > Wendy Martin September 15, 2011 at 12:14pm

          I have gone higher...every bloody manager there is just as bad as the "negotiators"...how do they call them that? LOL I thought SLS was my worst nightmare before...ha ha ha!!! Green Tree wins the crown!

          You are right...they flat out suck!!

          • Elena Pavlova-Nott > Crystal Wilson June 9, 2013 at 8:11am

            Contacting the corporate office in Minnisota made a difference. 651 293 3400 and ask for executive correspondence team member. They were very helpful and I got my approval from GT. 

  • Crystal Wilson September 14, 2011 at 10:07am
    Have you had that work with them? I sent another long request in, but was told again (for the umpteenth time) that they will go 20% of balance owed at the lowest. I hope they wake up soon! I even tried getting info on the investor to call them...but GT says they are the authorized servicer and I cannot contact the investor....whom I doubt has a clue what has been offered.
    • Elena Pavlova-Nott > Crystal Wilson May 22, 2013 at 2:15pm

      I work with GT right now. Their are 2nd. I had to call the corporate office to finally make sense of their "negotiation". They called back same day and transferred me to very helpful manager at the department where they held our file. Their new request is 20% and it is last and best they could offer. Why wouldn't they do it in the first place? I don't know. We had to go back and forward between two lenders for 5 months. Now I asked the buyer to bring in the difference to get 20%. Waiting for answer and praying for it to finally happen. 

      PS GreenTree was trying to negotiate my commissions down and I flat refused to even bring it up. I told them that my commissions are not negotiable and they never asked again. It is my deserved pay for the endless phone calls, unanswered voice mails and much more stress than it should have been. My advise to everyone is to not let them push you around and take away your commissions. Lenders think they can get more money by taking yours but don't let them do it otherwise it will never end and will become a norm. 

    • Beth Thoma Robinson R(B) SFR > Crystal Wilson September 14, 2011 at 10:27am
      Just insist that they submit it.
      • Crystal Wilson > Beth Thoma Robinson R(B) SFR September 14, 2011 at 10:54am
        I did...they said they will be sending an approval letter for what they will take....I will keep fighting!!
  • Beth Thoma Robinson R(B) SFR September 14, 2011 at 9:31am
    Just be persistent.  Call their bluff!  They will take it.  Write a big letter asking for expedited approval giving all the reasons they need to settle NOW
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