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Ocwen Loan Servicing

Posted by Gunna Voigt on November 3, 2010 at 11:46am in Short Sale Discussions

I need hellp with Ocwen.  Who has a good name and number to email/talk to?  AFter having a property on the market for four months, reducing it every 30 days, we finally got three offers.  We asked for highest and best and submitted the offer to Ocwen.  After some additional paperwork requests, a BPO was done two weeks ago.  I was just informed by Ocwen that our offer of $65,000 (the others were between $45000 and $60000) was toolow. The unit should sell at $83,000, and they needed a net of $67,000.  That is more than 27% higher,  and the unit is a handiman special!  Who can I contact now to submit a true BPO and hellp my client?

 

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Replies

  • Aaron Ayotte, Short Sale Monkey March 21, 2011 at 2:20am

    Hey Gunna,

    Try these contacts - I've had good luck with escalating to them, but the bottom line is, Ocwen sucks...period.

    margery.rotundo@ocwen.com - VP of Residential Loss Mitigation

    tbratcher@ocwen.com - Director of Loss Mitigation

    william.erbey@ocwen.com - Chairman, CEO

     

    They also have a specific "BPO Challenge" process - I've attached the forms for you.  They are very detailed and time consuming to fill out, however I've used them successfully in getting Ocwen to come down off their high-horse when it comes to value.

    By the way, why are you doing all the short sale work yourself??  You know, every hour you spend on it is basically less money you're making (based on getting 3% commission at closing).  We specialize in negotiating short sales for literally dozens of Realtors in our market area (Central Texas), but I'd love to talk to you about helping you out too.  Our goal is to secure a full 6% commission on every transaction, getting paid a flat fee by the buyer, and make every listing "feel" like a regular listing for our Realtors.  If you're open to the conversation, email me:  aaron@superiorlossmit.com. 

    I hope these resources help you!

    Have a great one.

    Aaron Ayotte

    Ocwen_CMA Worksheet.xlsx

  • Gerri Bara March 13, 2011 at 6:55am
    I was told last week by an Ocwen SS negotiator that Ocwen will reconsider a BPO value if they receive repair estimates on a "fix-up" from licensed contractors together with photos of specific repair issues.  They have recently changed their process - they now have a "pool" of negotiators so that a single person isn't assigned to a file - instead, when you call in you are connected at random to a member of the pool (over 30 people).  The first person I spoke with was ok - the second person (a few days later) was excellent...  helpful, shared ideas/information/suggestions, proactive - a nice change from so many SS negotiators I seem to have run into lately.  I asked if I could request to speak with him in the future, but he said unfortunately calls are randomly assigned.  And ALWAYS follow up on your faxes.  They do tend to lose them... so call a day or two after sending to be sure they were received and have been properly associated with the file.  Good luck!
  • Crystal Sheppard March 13, 2011 at 3:39am

    Late post but wanted to share.  We had a seamless experience with a negotiator named Kavita.  We submitted offer and had approval in 10 days.  Buyer did not qualify, so we submitted new lower offer approx 35 days later - and had new lower approval in 7 days.  Best SS experience ever.  In our experience, this negotiator reviewed the true market activity and responded accordingly.  

    Kavita.prayag@ocwen.com

    877-596-8580

  • Gunna Voigt March 11, 2011 at 9:12am

    Hi Debbie, thanks for your reply.  I may have gotten a step forward with them, just now.  Actually they called this afternoon, and maybe we are getting somewhere.  We had thdree offers, went for highest and best and got the winning bidder higher than we thought possible.  Then Ocwen ordered a BPO. The realtor they contacted was from another county, out of the area, and she came in much too high.  So Ocwen asked us to increase the price. I told them we already went this wan, started out much higher and got the offers after we were at the right level. 

    So, I did a BPO, and two months later called the big shot again and complained, three days in a row. They finally called back and ordered a BPO intown, and I guess it came in better.  Now they want the listing sequence, i.e. original price, reduction, reduction, reduction........

    Hope it'll work, because the buyer wants to walk. There are too many others on the market.  Will let you know if I need more help.

     

    Thanks! 

  • Debbie Franklyn March 11, 2011 at 9:00am

    Hi Gunna:

     

    Just read this post. If you still need help let me know. I have been having good luck with Ocwen.

  • Gunna Voigt November 9, 2010 at 6:28am
    Thank you, Darlene!
  • Darlene Krause November 9, 2010 at 5:53am
    Go to the Ocwen site on Super Stars and the Presidents name and phone number are there. Call him bug him
  • Smitty November 3, 2010 at 12:25pm
    They are one of my least favorite lenders. The only way I've been able to combat a bad bpo is to pay for an actual appraisal to support my figures. I have NOT done it with Ocwen. I've done it with Litton, Carrington, and One West and all three offers were sent for approval after I sent in the appraisal.
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