Replies to This Discussion

Permalink Reply by Patsy Clevenger on February 24, 2011 at 1:26pm

Do you know who the investor is?

Permalink Reply by Stenya Dautrich on February 24, 2011 at 1:51pm

No, I was told they could not give me that information.  I had the borrower call in and they said they could not give it to them either...!

Patsy Clevenger said:

Do you know who the investor is?

Permalink Reply by Patsy Clevenger on February 24, 2011 at 2:03pm

You can see if it's a Fannie or Freddie.  For Fannie use  www.fanniemae.com/loanlookup/

Freddie:https://ww3.freddiemac.com/corporate/

 

If it's either of these you can call and dispute it.  They are usually pretty good to work with.

Permalink Reply by Dianne Slutsky on February 24, 2011 at 8:45pm

You need to have the owner call in to request the postponement.  Ideally, if you can both do a conference call to BofA that would be best.  You need to then both demand to know the name of the investor and the investor's contact information.  If BofA refuses, then remind them that the phone call is being recorded and that the US Department of Housing will be notified that you are refusing cooperation to the seller. You might also ask to speak to a supervisor.  You also want to have your seller review the NOD & NOT documents to see if they appear to have been signed & filed appropriately. If the seller is willing, the seller could indicate that he will be speaking with legal council to see if the documents were filed legally by BofA

Good luck

Permalink Reply by Richard Kirk on February 25, 2011 at 3:13am

I'm not sure when the Trustee sale is scheduled for (i'm assuming today?), but I'd call back again and get someone else to try to escalate it or, at least, confirm what you were told.  I had to tell a homeowner the that BofA would not postpone the Trustee Sale on the day it was scheduled.  For the heck of it, I called back the next day and the told me it was postponed---and it really was.  I also agree, calling with the homeowner can make a difference. Double check, and good luck.

Permalink Reply by Laura Marshall on February 25, 2011 at 5:57am

I am in do way defending the banks...as I ALWAYS try to get the name of the investor and PMI company (if any) as soon as I take the listing...but sometimes they just won't give it to me. I used to work for the largest privately owned mortgage company in the US. We serviced loans for more than 300 "anonymous" investors. Usually, there would be a code for FLHMC, FNMA etc. But for the private investors, there would just be a set of numbers that came up in the system, or the word "private". The people in customer service, loss mitigation etc.....may not have access to the information. I'm not taking their side...as it seems like they just don't want to be helpful...but it is possible that they really are not able to access the information. If you are in California, you may want to check the NOD. Many times there is information in there. I recently had one that the bank couldn't or wouldn't tell me the investor name. After reviewing the NOD, I found that it was Bank of New York. Good luck