We've been successfully specializing in short-sales since mid 2005 and have been as much a part of the evolution of how these things get done as we have been a witness to the evolution.
We've seen first hand how lenders have buckled under the deluge, and struggled to create, adapt, and adopt systems, & new personnel to handle it all; it hasn't been pretty.
All in all, I think these newest guidelines under the MHA program will generate significant improvements to the process, and remove substantial "waste" from it. Two thumbs up!
I am a realist however. As such, I realize that since this all began, every single short-sale processing problem has been about only one thing: volume, and the inability to deal with it. Nothing else, only volume. Lenders and servicers have thrown money at the issue of volume, they've thrown significant human resource increases at it, they've attempted, and re-attempted modification of their protocols, expanded coverage, added whole depts, fax numbers, e-faxing, imaging, more new or expanded depts, with support depts to support those depts....etc.
Too date, NOTHING has resolved the overall, and underlying problem of, volume. Frankly, I do not hold out hope that ANYTHING ever will, except a decrease in.... you guessed it.... volume.
If I am an optimistic realist, I can hope that eventually a more streamlined process from the new MHA guidelines can have a possitive impact, but for now, its the status quo.
Anyone wanting to get the full scope of the new MHA guidelines, simply email me and I will reply with the PDF attached for you; its good info. we all should read.
Dameon V. Russell
Administrative Partner, TMG
Century 21 Landmark Network
Direct: 916.266.4840
Office: 916.266.4848
Facsimile: 916.266.4830
Dameon.Russell@c21LN.com
"Working for our Clients diligently in tandem with Lenders to achieve mutual resolution!"
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