Comment

Comment by Jaime Woods on April 26, 2010 at 5:16am

Sounds like the majority are doing ok with GMAC - I am having a battle with the negotiator, who feels we should get $2 - 3k over the what the comps are showing - this was a cash out refi 1st loan only with GMAC so I think I may be fighting a losing battle with unrealistic investors...any ideas? I have explained the deferred maintenance issues and sent the list of everything active/pending/sold in last 4 months in condo neighborhood with no luck...trustee sale coming in June!

Comment by Joan Hawthorne on April 23, 2010 at 4:37pm

Ute, Thank you for helping. It makes a little more sense. I could not figure outt how I initiated now
I understand.

Comment by Ute Ferdig on April 23, 2010 at 2:37pm

This post is in response to Joan Hawthorne's question regarding initiating a GMAC short sale through Equator. I have a short sale with GMAC and I received an e-mail from the GMAC negotiator which told me to sign into my Equator account and once you are signed in, you'll see that a property has been assigned to you and the first task is to accept the assignment and then once you accepted the assignment you'll see other tasks appearing in your account and you just complete the task (i.e., uploading documents and whatever they ask you). Unlike with B of A shrot sales, there is no way for an agent to initiate the short sale process through Equator. The initiation is done by GMAC. I hope that helps.

Comment by Joan Hawthorne on April 23, 2010 at 11:50am

I have beem working with Equator for BOA for quite awhile and now need to start with Equator for GMAC. I am having difficulty finding the link to initiate short sales. Is it different then Equator for BOA. I have only one link and not a choice. Please advise. Thanks,

Comment by Kynse L. Agles CDPE on April 19, 2010 at 2:26am

Are all GMAC loans now being uploaded on equator?

Comment by Ute Ferdig on April 13, 2010 at 1:25pm

I submitted a short sale package last week Tuesday (April 6, 2010) and received a call from the short sale negotiator this morning (April 13, 2010). She sent me an e-mail with instructions for uploading the file to Equator and she told me to expect a call within the next few days from the agent who will do the BPO. When I first talked to GMAC 2 weeks ago, I was told that I would hear from the negotiator within 60 days. 1 week is not bad. I am just not sure about the use of Equator with a loan that involves a Fannie Mae loan. Anybody else have a short sale with a Fannie Mae loan using Equator?

Comment by Kay VanKampen on March 31, 2010 at 4:33am

I have been working a short sale with GMAC since October 2009. Yesterday, I call and they can not find my file. Says it must be uploaded to Equator. I told them my negotiators name and they say sorry!!! The loan is a second mortgage and I am getting final approval from the first (SAXON) today. GMAC now says they see no information that I have sent and no conversations or no final settlement that we have previously discussed. Any suggestions? I've tried requesting a supervisor with no results.

Comment by Victoria Frieberg on March 20, 2010 at 8:44am

oops, missed the start discussion tab..sorry, post is in the wrong spot!

Comment by Victoria Frieberg on March 20, 2010 at 8:44am

ok, first GMAC short sale coming on board...2 secnds with wells fargo. my understanding is that Wells has agreed to new hafa second postition rules..so will concentrate on GMAC...have never worked with Equator, are all gmac's through this? I used to be on reotrans with ocwen, but quit working for ocwen a year ago..

Comment by Scott Behrends on March 9, 2010 at 10:41am

Pattilynn, were you ever able to locate a management contact at GMAC?

• ‹ Previous
• 1
• …
• 25
• 26
• 27
• 28
• 29
• Next ›
• Page