Starting July 1st Chase continued down their path of their slowest merger ever with EMC (Guinness Book of World Records currently weighing out if they qualify for any records). By Chase opening up their Collections Department and other Loss Mitigation Departments to this they hope to start servicing their EMC portfolio in order to...
Chase, like many companies in its pursuit for improving how it does business, attempted to make some changes to Loss Mitigation Workout line up. Traditionally speaking the process goes from having a simple document collector and negotiator structure to trying to break down the whole system to a Multiple Stage Process (opener, negotiator, closer,...
Chase is seemingly not hurting these days as the recovery department is on a set course to collect a minimum of 70% for a full release of the deficiency balance to be released. Now to anyone paying 70K on a 100K debt is a savings of 30K (which by the way the IRS does...
******SIGN UP FORM AT THE BOTTOM****** Washington Mutual has been reducing commissions past to point of acceptability. It is time that we bring this up to upper management and show them we mean business. We know thousands of you who visit here sometimes on the daily know where we are coming from. For those...
Recently a homeowner on an active loan modification plan was foreclosed on even though they were making their payments according to their arrangement. As these types of issues become more common place we feel that this is the reason why it is important to work with the right team of individuals to represent the...
Most lenders have a habit of waiting for the last minute to take care of anything important. Well, Chase is no exception to the rule. Chase will wait to as late in the game as possible prior to postponing the foreclosure sale. Well the issue is not so much that they end up waiting...
In this industry knowing all the details can be the crucial key between getting your client what they need and on the other hand a client receiving a decline. That is why this is new section where we are informing the community in yet another vital place. As one can never say that any...
Washington Mutual, either because of being purchase by Chase (though they do not have the same authorization rules) or because some sort of breach that occurred on their clients accounts, the lender has recently changed their rules about 3rd party authorizations. It used to be the case where someone could submit a letter of...