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As of April the 2nd Chase has changed up the verification process once again. At least we have seen this on with EMC (Chase side of the business) and the particular agents we were dealing with work both Washington Mutual loans as well as EMC’s portfolio. They are not only requesting the standard “what’s their mailing address” or ” what is the last four of the borrower’s social” to now what is the complete name including the middle initials. Now this isn’t as bad as CitiMortgage who’s Office of the President (or Executive Response Unit) forces you to actually tell you what the middle initial stands for but it is still another security loop whole that us professionals will need to be on.

Now this rule has not been fully rolled out because we have hundreds of short sales and loan modifications with Chase and so far it is only EMC that we have seen requesting these. Are you seeing the same? Log in and let us know what you’ve been working against.

Absolute Consultant Group

MLReport.com started in the Loss Mitigation industry in early 2000's. We worked for the one of the largest loan servicers in the US in their loss mitigation/foreclosure department. Speaking with approximately a work flow of several thousand cases a month and several years of experience they created an organization dedicated to helping homeowners. Our Goal here is to increase the accuracy and awareness of loss mitigation information found on the internet while creating a forum for homeowners and professionals alike to find the information on up to date mortgage servicer/lender guidelines. — MLReport Management Have a question? Call us 888-934-3444

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