I am ready to close on an Ocwen short sale but the escrow company will not sign off on the Arms Length affidavit. They are asking for written acknowledgement from Ocwen that this is acceptable but Ocwen has replied that no changes on the affidavit and must be signed by all parties including the escrow/title company.
Has anyone else had this happen and anyway around this? I check with other companies in Hawaii and the 2 others would either not sign the document or would amend the signature with a disclaimer.
Howard
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Replies
Howard, why won't they sign it? Keep looking and find a title company that understands short sales.
Jeff,
Their legal department told them that it was too great of a liability. I guess which is why I am trying to reach out to see if anyone can provide info on companies they have dealt with that have signed off on the affidavit. Not a whole lot of options in Hawaii.
Howard
Howard, the title company I'm using revised it and Ocwen accepted the Affidavit.
Petra,
Did Ocwen provide title company with written approval of the amended Affidavit or did the title company just submit with the final documents?
Howard
The file has not closed yet, the affidavit were sent in together with the short sale package along with Prelim HUD-1. Received approval in 3 weeks.