For many the industry isn’t getting better at solving their problems. Hopefully, at least for those finding themselves experiencing a long bout with unemployment, they will find a little relief coming from at least one of the GSEs Freddie Mac. In an announcement FHLMC stated that they would be extending their previous Forbearance plans...
In setting a new president starting today Aurora will not longer allow its loss mitigation (loan modification and short sale representatives) to message their processing department representatives. Due to the high volume they are being instructed to only transfer you to their voice mail and/or document the account that you called. They too along...
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....
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...
We receive frequent inquiries from our readers and our clients regularly about finding assistance for their Multi-unit properties. While there are programs for non-owner occupied properties or investor properties the treasury has made sure that the HAMP, which only focuses on primary residences, takes into consideration those that do live in their Multi-unit residences....
***PLEASE NOTE THAT THIS SHOULD NOT BE CONSIDERED LEGAL ADVICE OR TAX ADVICE. EVERYONE’S SITUATION IS DIFFERENT AND SHOULD BE REVIEWED BY A PROFESSIONAL IF YOU NEED TO SPEAK TO SOMEONE PLEASE REACH OUT TO US AT 888-934-3444 TO SPEAK TO AN AGENT THAT DIRECTLY OR EMAIL US AT INFO@MLREPORT.COM*** In a simple answer....
Frequently we receive phone calls from homeowners who’s properties have been lost to foreclosure and their homes have sold back to the bank at the auction. Wells Fargo’s REO Department is no different and while there isn’t an exact time frame on how long it will take for the property to hit the market....
BAC Home Loans Servicing, LP., or Bank of America, wants you to know what all those auto responders mean. In a recent email sent out on August 17, 2010, BAC sent a message about the changes that had taken place over a month ago on July 15th to their partner’s website (Equator.com). It goes into explaining...
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...
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...