Hello Superstars,

I am in a single lien situation with a Midland mtg as servicer, lender bought PMI through Radian (of course without my sellers knowledge), with Wells Fargo as the investor.

Home was purchased as owner occupied.  They out grew the house and bought a larger one that needed many repairs and upgrades.  Bad experience with contractor depleted their resources and then the tenant in this house was put into active duty from the reserves.  Hence no rent to cover payments at a bad time with irregular income and no cash reserves.

Procured an offer that is over appraised value and servicer approves subject to PMI.  Radian asks for $23,000. PN plus $6,500. Wells Fargo says they want cash at closing too.  My seller has $1,400. in checking on last statement with many bills to pay. They couldn't do it if they wanted to.

The problem is my sellers have decent income but very high debt.  Their assets are depleted but I know the banks and PMI are looking at the income.  My seller thinks it would be better and easier to walk and the lender gets nothing.  (non-recourse here in Washington unless lender chooses to go through a judicial foreclosure with one year right of redemption)  PMI would pay max to lender.

All parties would lose if I can't move this forward.  Including the buyer and hard working brokers too.

Negotiator for Midland says there is no way to escalate the file at Radian.  I'm hoping that someone here has a contact that might see that $7,000 income doesn't fit with $8,000 in expenses.

If you know of anyone at Radian or Wells Fargo who would be interested in saving their company money by reviewing this file, I would be very thankful.

Any help would be appreciated.


Patrick McNeley

Managing Broker


Real Estate 2000 Inc.


[email protected]


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try these contacts:


Loss Mitigation: Liquidation
Responsible for overseeing all of Radian’s liquidation workout activities.
Chris Malinowski – Director, Loss Mitigation, [email protected] 800.523.1988 x1175
Dispute Resolution
Provides timely, comprehensive, and objective review of disputed policy rescissions.
Bill West – Director, Dispute Resolution: [email protected] 800.523.1988 x1145
Default Servicing Strategy
Responsible for the oversight and management of Radian’s relationships for default-related servicing with key servicers,
focusing on loss mitigation efforts to reduce or avoid Radian’s claim exposure.
Liz Johnson – Vice President, Default Servicing Strategy: [email protected] 949.547.6915
Connie Childs – Vice President, Default Servicing Strategy: [email protected] 214.663.7834


and please join the Radian group on this website, it was all right there!

Thank you Jim!



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