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As a Real Estate Agent helping real people in the Roseville California, Granite Bay California and Rocklin California areas with the process of Short Selling their homes in today's difficult Housing Market, I deal with many mortgage loan servicers. Today, I was working on a short sale listing that one of our clients has in Lincoln California. The mortgage loan servicer on both notes is OCWEN Loan Servicing out of Florida. The short sale process is generally not a fun one for any of the participants. But OCWEN has made this transaction far more difficult than it ever needed to be.
Fear not though, the fact that the short sale 800# rings through to India (888-779-2857 TRY IT!!) or that many times this number will ring a few times only to disconnect the line before anyone picks up. We still persevered by getting an appointment with "Daniel Lawrence" at the outsourced call center in India set for 22 days after our call which turns out was over 30 days after submission of the offer... You get where this is going, right?
So, what is the point you ask? I am almost there... Well, I contacted the investor of the mortgage securities after having this file rejected by OCWEN stating that the fees associated with the transaction exceeded their guideline. Fees mind you that are normal, customary and legal in Northern California... and documented on the Estimated HUD Statement. The Trustee of Securities (Acting Owner as assigned by the true securities owners) first just sent me a cursory response hoping that the matter would just go away. The letter stated that even though I was bringing an issue to them in good faith that is probably costing them millions, they passed the buck saying "mortgage loan servicers are exclusively responsible"... When I responded to that message asking if they thought that was in the best interest of their shareholders and Mortgage Backed Securities Owners for which they are acting Trustee --- I received a call from their attorney.
GOOD NEWS!! I had indeed awakened the right people. Bad news -- This attorney informed me that "Objective statistics show that Ocwen is one of the most efficient and prompt servicers in the country"... Well, that brought me to my point. Reality has escaped this organization obviously.
Take for example the results from simply GOOGLING "Ocwen Servicing Reviews"... You cannot find any positive reviews on page one. How about checking out the Better Business Bureau rating of F. Additionally, my personal experience negotiating short sales and the expereinces of my fellow agents here at the largest real estate brokerage (Keller Williams Roseville) in California which testifies to OCWEN's poor performance. As the 12th Largest Loan Servicer one would think that, even though their processes leave a bit to be desired, the company would have a handle on their poor image.
As a public service, I wanted to make sure that everyone else who has heard from an OCWEN Attorney recently about the great work of this company was able to get a little dose of reality.
Ken Patterson with TEAM Patterson Realty @ Keller Williams
We are proven Traditional Equity Sale, Luxury Home Sale & Short Sale Granite Bay CA 95746 Specialists
916-751-1800 or visit www.TEAMPattersonRealty.com for more information on us!
Do you have an Underwater Mortgage or are you thinking about a Short Sale Granite Bay CA? We can help you short sale your home and we negotiate directly with your bank.
TEAM Patterson Realty and Ken Patterson is synonymous with underwater mortgage assistance and short sales in Granite Bay CA. as well as understanding Loan Modification Help for your home in Granite Bay CA. We can help with the sale of your home regardless of your situation - Traditional Sale, Short Sale, Family Property Sale though a Trust - just ask for our references!!
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