Ocwen short sale information
This group is for information, tips and solutions for OCWEN short sales.
Latest Activity: Mar 18, 2022
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Fax for Third Party Authorization 1-407-737-6300
Fax for Short Sale package 407-737-6352 (updated August 2014)
email [email protected]
Short Sale direct phone 877-596-8580
Customer Service 800-746-2936
If you need to get in touch with the home retention dept that number as listed on the paperwork is 877.596.8580.
The hard ship package should be faxed to the home retention dept at 407-737-6352
[email protected] For short sale packages
The contact #: 800-746-2936 option 4 then option 9
If you can't locate the loan try Loss mitigation at 877-521-3698
FX for LOA: 866-501-1610 EM SS Pack to: [email protected]
FOR ESCALATION; Use sparingly......
[email protected] this should be where you start.
2nd escalation is Michael Rapp at the following email address [email protected]. as of 9-11-14
AND.....Ocwen's Ombudsman is a consumer advocate, they'll work with you to get issues resolved. Give them a call, they are super to work with. The first time I called them, they put me in touch with someone who got me an approval. I would call and email them: [email protected] Phone: 800-390-4656.
Ocwen Loan Servicing
P.O. Box 24737
West Palm Beach Florida 33416.
Ocwen Loan Servicing LLC - Servicing Transfer Information
Servicing Transfers to Ocwen
o Ocwen will honor all non-expired short sale approval letters issued by the prior servicer. An
approval letter reflecting the originally approved terms will be re-issued on Ocwen letterhead
when the loan is transferred .
o Short sales in process but not approved by the prior servicer will require an Ocwen short sale
package to initiate a new request .
o All Authorized Third Party information provided by the prior servicer will be uploaded as part
of the loan transfer process, so as to minimize disruption to the communication process.
Started by Larry Sarlo. Last reply by HarryJohnson Mar 18, 2022. 18 Replies 0 Likes
first it was GMAC then serviced by Ocwen had to update the entire file, then ocwen took over the entire file and had to again update the entire file... then borrower was not qualified for HAFA then…Continue
Started by Jeffrey W Wolff. Last reply by Dean E Eshelman, CPA, CDPE, IRES Feb 7, 2019. 1 Reply 0 Likes
Just so everyone knows, Ocwen is in the process of transferring all their loans to PHH Mortgage, which I believe is a subsidiary to Ocwen.Major issues with this.JeffContinue
Started by Katie S.. Last reply by Katie S. Mar 22, 2018. 6 Replies 0 Likes
My basic question is, would OCWEN approve a short sale on a house that has been vacant for 9 years? It was a single family primary residence before the owners defaulted in 2007 and moved out in 2009.…Continue
Started by Kathleen Sheridan. Last reply by Brett Goldsmith Sep 12, 2016. 2 Replies 1 Like
We are doing a short sale on a tenant occupied duplex. One unit is vacant, the other is still occupied. Ocwen says to put $10,000 on the HUD as an incentive for the tenant.Does anyone have experience…Continue
Just started working a short sale with phh. they sound ok...lets see how it goes.
@Al if they are getting one dollar less than what is owed you need to go through the short sale review.
Got a property where the first mortgage is with ocwen. I only need to short the loan 12,000 less than what is owed. The 12000 is less than 2% that is owed. Do you think Ocwen will short the loan without going through all the short sale formalities such as an bpo/appraisale ect.
Jennifer - No estimates because the licenses professionals in our area charge for quotes/estimates. The appraisal was post damage. I don't think that it's a coincidence that they stated they wanted to net $40,000 in the beginning and that's what it appraised at. This house is in an area where the average sales price is $50,000 and with the extensive damage we were shocked to get the price we did. There are literally mushrooms growing on the ceiling from the water damage.
1% of purchase price is standard for Ocwen, but you may be able to fight it by providing a detailed invoice. Have you had licensed professionals give you estimates to provide Ocwen? Also, how old is the appraisal? If it was from before the damage you can ask that a new one be conducted.
I currently have a short sale with OCWEN. They want the attorney to accept no more than 1%, which is $325 and no more than 8% of purchase price for closing costs. Our typical closing costs are more than 8% in our region. Has anyone successfully fought the closing cost amounts? Any tips? The appraisal also conveniently came in at what OCWEN told us they wanted for the house before we listed it, $7500 more than the purchase price. The house will not sell for what they want due to major water damage, structural damage and mold. We documented these issues with OCWEN up front. I will fight with more accurate comparables.
Does OCWEN pre-approve short sales?
Julie, you will likely have to get written estimates to fix the damage, then WF/Ocwen will be more likely to take your "discounted value". I had to do this on a fixer last year, and after that, it went smoothly. It may not be WF disapproving, it may be Ocwen just passing the buck. Either way, get written estimates and then discount your price.
I have been in a ss with Ocwen who is servicing for Wells Fargo now for 9 months, on a Triplex that is run down and suffers damage from Napa 2014 Earthquake. Offer is $289K, WF wants $349K property does not comp at that, only comps out at $265K. Buyer will not go up, not worth it. After 9 months we just found out that WF wants more $$. Has been a terrible process. I submitted a BPO to Ocwen, they submitted to WF and it has been 8 days and no response from WF. Anyone have this problem? I can try contacting Wells Fargo, not sure it will help and Ocwen cannot get anywhere with Wells Fargo, so frustrating!!!
No fees at all to the buyer. I had to ask for an extension, I asked for it a full week in advance, so had no problem getting it. Maybe if you try to wait until the day before you need to close for an extension it is a problem. I usually try to keep right on the buyers doc draw which gives a pretty good indication of when you need to close. Better to ask for an extension at least a week ahead than to wait until a few days before you need to close...
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