I have been working on a short sale with Saxon Mortgage (1st lien) for a number of months and thought we were nearing approval. Saxon has been sold to Ocwen and the transfer of files is to begin May 31. I confirmed this with the Saxon negotiator today. There is a rumor that Ocwen plans to put a 60 to 90 day hold on all short sale processing. The negotiator claimed not know about a planned "hold." Does anyone have any information about this transition.
Thanks,
Glenn Batten
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I also had a short sale with Saxon in February 2012 and a couple of days before approval the file is transferred to Ocwen in April 2012. What a nightmare! Saxon said they would transfer the file to Ocwen and Ocwen said they never got it so I had to start all over. Not only to start over but to fax the same documents (72 pages) to them 3 times because they claim they do not have it. When I finally got confirmation they received it, they said they are "missing" documents, so I have had to fax the "missing" documents to them 2 times so far and the file still has not been assigned to a negotiator and there is a 2nd with HSBC who transferred their file to Century Credit who calls me weekly for an update on the 1st. I'm working for free now. This is a $42K townhouse. I love short sales!