Posted by John Merchant on April 16, 2008 at 12:36:24:
Boy, how things have changed!
I did a deal with the big, pompous “O” several years ago and then they had to have everything done for them, their way, their terms, their forms, escrows, etc. and they’d hardly even deal with mere mortals.
Sounds like their balloon has been punctured and it couldn’t happen to more deserving outfit.
OCWEN Update - Posted by SREC
Posted by SREC on April 14, 2008 at 15:12:24:
Iâ??ve been told that OCWEN is shutting down their short sale department, but they are still working files. Apparently, they are prioritizing loan modifications over short sales as short sales take too much time; however, they will do them.
For a short sale case they want the person making the offer (the investor or Realtor) to supply the BPO and OCWEN wants to talk to the homeowner before anything is started â??â?? they refuse to only talk to a third party handling the negotiation.
Itâ??s more difficult, but can be done. One of the principals in our business just closed on a deal that was approved by OCWEN without a BPO. My how things change in this industry . . .