It is important that while servicing your client’s loans with PNC Bank that you understand their Pay Off Statement Request Guidelines. Often when ordering a pay off it is no more than a request by phone but every so often you come across a lender that asks for you to request it in writing....
Mortgage Community
21st Century Mortgage: Talk about crazy short sale deals.
When everyone talks about the great short sale deals I don’t think they have frequented the 21st Century Mortgage area of the business. If this business has gotten any better in some places it’s definitely gotten worse in others. Strange as it may seen we have come across some awkward negotiators but 21st Century...
Bank of America: Stop Faxing Me Your Loan MOD Documents! Email Them.
We should set off the fire works for this one. It’s almost like Bank of America is taking a few steps into the future calling out,”’90′s here we come!” OK. So they are still running 20+ years behind on the times but their catching up. In a bold move Bank of America stopped accepting...
Fannie Mae: As if it wasn’t already tough enough you better have a game plan!
Recently GSE Fannie Mae rolled out new guidelines guiding the servicers on how to manage its portfolio. Stating that it wants its borrowers, if they are in an active foreclosure and if they have a sale date within 14 days, the only acceptable remedy to stop foreclosure is to fully reinstate the defaulted loan. Until further...
ACG and Wachovia connect for BULK Short Sale Processing
Starting in 2005, Absolute Consultant Group’s(ACG) counselors sought out to solve mortgage problems no longer from the confines of Countrywide’s Loss Mitigation Department. At that time they were part of one of the largest lenders in the world helping service a portfolio topping a trillion dollars. Since then ACG has set its self a part by helping thousands of homeowners. With...
BAC Loan Servicing LP (Bank of America): Deficiencies… Now its on you!
Image via Wikipedia Foreclosure deficiencies are one thing… those are usually depending greatly on the type of loan you had prior to the home going to foreclosure but these days there are new laws waiting to be rewritten on the banks ability to pursue you have a homeowner. Well don’t expect any legislative back...
HAFA Video: In action but what does it mean to your and your homeowners.
HAFA is not guaranteed as not all lenders will be participating. Investors currently participating in HAMP or the Obama program may continue to participate but it must be understood that many can also back out and choose to no longer participate as these programs are not an obligation and more of a suggestion with...
MLReport.com Presents: Lender-Pedia. For the People By the People. A Wiki story.
We here at MLReport know how important it is to find the information that you need when trying to deal with the mortgage servicing industry. When it comes to mortgage lenders it is not ever surprising to get a new number just about every time you call to some new department that disconnects you after a 45 minute...
NEWS: Government unveils new mortgage help for states
The AP is reporting that there are some new efforts being put in to the trying to defeat the mortgage slump. By providing additional resources to finance new first time home buyers they are looking to help give the market the pep it needs to get going. We for one feel that this is...