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....
Posts Tagged ‘ number ’
Chase: Phone Number Changes (Contact Information Changes)
Chase, one of the mega Goliaths in the mortgage servicing industry is about to start a major renovation on their phone systems. In a conversation the other day with a representative in the Executive Office it was divulged to one of our negotiators that there were going to be some major changes in the phone...
Wachovia: ACG connects with Wells Fargo for Bulk MOD Underwriting
In a business where it can really help to know people in high places Wachovia has proven to be no different than the rest. Where in many cases homeowner’s find it difficult to manage through the process loan modification process, with the now Wells Fargo owned company, it looks like there is some light at the...
Wachovia: Authorization Questions… It’s not good enough that you know the homeowners info!
Wachovia, in no new fashion of being over protective as they are already with their letter of authorization process, have been asking for additional informational when calling in as a 3rd party that just about no other lender does. In retrospect it is funny because even Wells Fargo who is notorious for their auditing...
Ocwen: No Short Refi For You!
Ocwen Financial Corporation feels that even in the midst of a financial collapse that they are not going to offer their clients the option to short refinance. In many cases this type of decission is up to the investor, whether or not to allow the short pay off, but it seems that there is...
Bank of America(BAC): Foreclosure Net Proceeds; Forecast points to Death for your Deal
Really this rule works across the board for most lenders as they all generally forecast what they expect to receive from sending a home to foreclosure. An example of this is, a bank, prior to foreclosing has a “net” amount or “net proceeds” that they would expect after a sale. This also includes an...
Bank of America charge off looking for 25% minimum to settle with homeowners
When the going gets tough the banks make your life tougher. Bank of America’s charge off recovery department has been known to ask for settlements as high as 80% of the debt in order to let go of the homeowners obligation. In the last couple of months though either because of the larger number...