Freddie Mac Loan - Ocwen just told me they do not short sale Freddie Mac Product

Could anyone shed some light on this. I just got off the phone with Ocwen's loss mitigation department and they informed me that they do not handle Freddie Mac's short sales. Is that true? Will I need to go directly to Freddie Mac?

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Replies to This Discussion

How do I contact the freddie Mac short sale department?
How do I find out my client's fredie Mac assigned customer number?
Huh??

If Ocwen is the servicer of a loan, they service the loan for an investor (like Freddie). For them to say they don't handle Freddie Mac short sales makes no sense to me. Servicers will typically segment their negotiators by investor. One team will handle Fannie Mae, another will handle a specific private firm, another does Freddie Mac ... etc. If they are indeed the servicer of a Freddie Mac loan, if they say they don't do short sales on Freddie Mac, the next logical question is - OK so who DOES work those out for you. Maybe there's another servicer they pawn it off to.

Have you called more than a couple of times and gotten the same answer? In doing short sales, there are sometimes as many answers as there are people answering the phone. (Not really, but sometimes it seems that way). I'd call back a few times and see if the answer changes.



jeni lamberto said:

How do I find out my client's fredie Mac assigned customer number?
I assume that would be the loan number- you can find that from your client or look  up on line - "Freddie Mac loan look up".

Late to the party and answering this question but I'm handling a short sale with Ocwen that is Freddie Mac owned and we are moving along...

So... unless they are playing with me... they certainly do handle short sales that are Freddie Mac owned.

I'm assuming you got somewhere since answering this question?

 

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