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,...
Posts Tagged ‘ Deal ’
Wachovia: Wells Fargo advising that if a home is in California don’t wait till the last minute.
In a recent conversation with a Wachovia representative we were advised that their rule of thumb for properties in California is to no longer postpone when within 5 business days of a foreclosure sale. They advised that there is a foreclosure law set in the state of California prohibiting them to foreclose if a...
NEWS: Tax Incentives Extended: Thousands of Short Sales saved from Buyers dropping their offers!
Anyone riding the short sale pipeline may have seen many buyers getting antsy as we came to the end of the filing period for tax payers to cash in on those home buying incentives. Well many of those last-minute buyers can wipe the sweat off their brow along with saving a lot of short...
Ocwen: Freddie Mac sets the Matrix Second Mortgages
Recently in conversations with a negotiator in the Freddie Mac department at Ocwen Mortgage we had an in depth conversation leading us to final result of having a full understanding of their break down paid to Jr. Lien holders. Frequently, lenders in specific, have what they call a “Martix”. The Matrix we are referring...
ACG works with Investor Properties (Non-owner occupied) and Chase to save homes from foreclosure.
Similar to the Indymac non-owner occupied or investment loan modifications are rare at most lenders unless you know the right people. Well at Chase this is no exception. Chase has adopted many of it’s own practices from the new current HAMP/Government program. These modifications are actually completed under Chase’s slightly adjust guidelines but has...
How to write a hardship letter for a loan modification or a short sale?
Often we receive the question of how a homeowner should write their hardship letter and we find that there is still no simple answer. Should I include if I didn’t file my taxes? What if I don’t know what a profit and loss is? Many times the answer is right there but simply needs...
Breaking: Chase sneaking in Second Mortgages on their Homeowners?
We’ve been dealing directly with loss mitigation for just about a decade now. With direct stories coming from our experiences on the front lines we have seen that Chase, specifically confirmed with the Washington Mutual twice, we were advised that money needed to be paid to second non-attached loans. In many cases these were...
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...
MLReport.com Presents: Premier Real Estate Forum
We here at Mortgage Lender Report (MLReport.com) due to the great response we have been receiving from the community have added an addition that we feel everyone will benefit from. We received hundreds of questions in our pursuit to keep the market up to date about the mortgage guidelines and problems that it seems...