I have a short sale listing that is under contract. Both loans are with Wells Fargo, serviced by America's Servicing Company (I believe this is a Wells Fargo company). All docs have been submitted to Wells Fargo, valuation done, offer gets the minimum net that Wells Fargo said they needed - I was told almost 2 weeks ago that the file was sent to a second level reviewer for approval and this should take about 48 hours. Since I had no response I emailed the Wells Fargo negotiator I had been dealing with and she said that she had sent it to Ocwen! I have heard negative things about Ocwen, so now I am wondering how long I should wait for Ocwen to approve and what my next step should be! Any suggestions would be appreciated. Thanks.
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Thanks Brian. It doesn't sound like it was service released to Ocwen. When the negotiator at Wells Fargo requested the last document, she sent me an email indicating that she had received it and told me that she was sending it to a Level 2 reviewer for approval and that this generally takes 48 hours. When I emailed her today asking to let me know who it was I should contact, since I had not received anything from anyone and it had been more than 48 hours, I was told that she had to send the file to Ocwen and she was waiting to hear back from them! This was the first that I knew Ocwen was even involved in this! So I am very confused and not sure just how to proceed and how long I should be patient!
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